Tài liệu "Chapter 13: The cost of production" gồm những câu hỏi bài tập chọn đáp án đúng sai bằng tiếng Anh với nội dung đo lường thu nhập của một quốc gia. Đây là tài liệu tham khảo hữu ích cho các bạn đang học chuyên ngành Tài chính ngân hàng.
In lecture Principles of economics - Chapter 5 you will: Examine what items are included in a firm’s costs of production, analyze the link between a firm’s production process and its total costs, learn the meaning of average total cost and marginal cost and how they are related, consider the shape of a typical firm’s cost curves, examine the relationship between short-run and long-run costs.
After reading chapter 7, you should be able to: Explain why economic costs include both explicit (revealed and expressed) costs and implicit (present but not obvious) costs; relate the law of diminishing returns to a firm’s short-run production costs; describe the distinctions between fixed and variable costs and among total, average, and marginal costs; use economies of scale to link a firm’s size and its average costs in the long run.
Chapter 9 - Businesses and the cost of production. This chapter develops a number of crucial cost concepts that will be employed in the succeeding three chapters to analyze the four basic market models. A firm’s implicit and explicit costs are explained for both short and long run periods. The explanation of short run costs includes arithmetic and graphic analyses of both the total, average, and marginal-cost concepts.
Chapter 8 - The costs of production. In this chapter, students will be able to: Explain why economic costs include both explicit (revealed and expressed) costs and implicit (present but not obvious) costs; relate the law of diminishing returns to a firm’s short-run production costs; describe the distinctions between fixed and variable costs and among total, average, and marginal costs; use economies of scale to link a firm’s size and its average costs in the long run.
Chapter 4 - Costs of production. In this chapter you will: consider the major organizational forms of business—sole proprietorships, partnerships, and corporations; learn about economic costs (explicit and implicit) of production and economic profit analyze short-run (total, average, and marginal) products, and the law of diminishing marginal returns; derive short-run (total, average, and marginal) costs; examine long-run results of production (increasing returns to scale, constant to scale, and decreasing to scale) and long-run costs.
Chapter 12: The costs of production. In this chapter you will learn: How to define total revenue, total cost, and profit? How to calculate economic and accounting profit? How to define marginal product and show diminishing marginal product? How to define average and marginal cost?...
It requires detailed data on plant characteristics,
including the type of products or output, the scale of production, the type of production
technology, and the type of abatement equipment used. In the summer of 2001, we interviewed
managers and engineers of the plants on our list (both in person and by telephone) in an attempt
to obtain these data. Only two of the industrial facilities on our list—the gray iron foundry and
the chemical plant described above—provided all of the information needed to estimate
As compared to other industries like the cement and chemical industry, the input consumption in Pulp and Paper
industry is very high and the output is comparatively very low. The input-output ratio is 8:1.
Fibre, energy, water and chemicals are the important inputs in paper manufacture. Both from the quality aspect and
also from the cost of production point of view, it is very important to have some norms of the basic inputs, so that
the cost of production is maintained at minimum level without...
(BQ) Chapter 11 - Service department and joint cost allocation. We have seen how cost allocation is used to develop the costs of products, services, and customers. However, part of the indirect cost incurred is from departments that do not directly produce the product or service but rather provide service to the departments that do produce the product or provide the service. In this chapter we will allocate the costs of these “service” departments. We will also consider product costing when multiple products are produced from the same inputs in fixed proportions.
In Chapter 6, we developed the basics of a cost management system designed to report the costs of products and services. In this chapter we describe a job costing system used in many service and discrete manufacturing settings.
We have seen how cost allocation is used to develop the costs of products, services, and customers. However, part of the indirect cost incurred is from departments that do not directly produce the product or service but rather provide service to the departments that do produce the product or provide the service. In this chapter we will allocate the costs of these “service” departments. We will also consider product costing when multiple products are produced from the same inputs in fixed proportions.
This chapter introduces you to the economics of information and the role of asymmetric information in completing transactions. You will learn that the prices of products in the marketplace are often affected because buyers and sellers do not share the same information.
fixed and variable general production costs incurred in the process of turning raw materials and materials into finished products.
Fixed general production costs means indirect production costs, which are often invariable regardless of the volume of manufactured products, such as depreciation cost, maintenance cost of machinery, equipment, workshops… and administrative management cost at production workshops.
For many companies, the decision would have been
an easy “yes.” However, Ben & Jerry’s Homemade
Inc. has always taken pride in doing things
differently. Its profits had been declining, but in 1995
the company was offered an opportunity to sell its
premium ice cream in the lucrative Japanese market.
However, Ben & Jerry’s turned down the business
because the Japanese firm that would have distributed
their product had failed to develop a reputation for
promoting social causes! Robert Holland Jr.
Generally speaking, scheduling is the procedure of mapping a set of tasks or jobs
(studied objects) to a set of target resources efficiently. It is an important tool in
manufacturing and engineering, where it can have a major impact on the productivity
of a process. More specifically, as a part of a larger planning and scheduling process,
production scheduling is essential for the proper functioning of a manufacturing
enterprise. Its primary goal is to maximize throughput and optimize resource
utilization, while at the same time minimizing operating costs.
To make their long-run decisions, firms look at costs of various inputs and the various production technologies available for combining these inputs, and then decide which combination offers the lowest cost.
All of this highlights the desirability of a framework that will identify priorities for
improved environmental accounting. This paper derives such a framework by exploring the
determinants of the value of information in a corporate decision-making context. The paper
proceeds as follows. The next section defines environmental accounting and the meaning of
"improved" information, and discusses the costs associated with those improvements. Section 3
describes the economic value of information in general terms.
In January 1993, the RAND National Defense Research Institute was asked by the Office of the Under Secretary of Defense for Acquisition to compare the practicality and cost of two approaches to future submarine production: (1) allowing production to shut down as currently