ECONOMICS FOR MANAGERS-GROUP ASSIGNMENT II
The relationship between marginal revenue and price elasticity of demand is given asMR = P(1+1/ed), where MR is marginal revenue, P is price of the commodity and Ed is the
coefficient of price elasticity of demand. As a manager of a business firm in Accra, explain with
appropriate illustrati ons how the above relationship will guide you in making pricing and output
decisions of your firm.

1.To be relevant in decision making, cost or revenue information must be future-oriented and differ between the alternatives.

True

False

2. Stephanie must decide between two alternatives for the weekend: babysitting or yard work. If she babysits, she will receive $40 and will incur $15 in food and snack costs. If she does yard work, she will receive $40 and will incur $3 in lawn mower gas and oil costs and $5 in snack costs. The amount of money she would receive for the jobs is relevant in deciding which alternative to select.

True

False

3. Differential revenues are expected future revenues that vary between the alternatives under consideration.

True

False

Define

• Elasticity
• Price Elasticity of Demand
• Total Revenue

What is the difference between Inelastic and Elastic?

What determines whether the demand curve is Inelastic or Elastic?

what is the difference between value of marginal product and marginal revenue product? under what conditions are they the same? under what market conditions are these who not the same in value?

1. What is the relationship between hyperinflation and the real tax revenue?
2. How governments create hyperinflation?
3. How can a government overcome hyperinflation?
4. What cause hyperinflation in Germany in after the World War I? How Germany overcame the hyperinflation 1922-1923?
5. What were the causes of hyperinflation in Zimbabwe in 2008?

Relationship between total revenue and price elasticity of demand, example with graph and explain how even due to good weather some farmers are worse off?

Body Paragraphs assignment, needing to contrast three body paragraphs. At least one paragraph for each of the three supporting points of the thesis. Each paragraph beings with a topic sentence including supporting sentences with details that ends with a concluding sentence that leads to the reader to the next idea and paragraph.

Thesis Statement is: Children who play sports will find a way to relieve stress, build lasting healthy habits, develop relationships with other children, learning teamwork skills, and contributes to stronger academics.

Three topic sentences for body paragraphs:

1. One benefit playing sports can help children is by being able to relieve stress and become healthier.

2. Playing sports with other children will develop relationships with other children and teach teamwork.

3. Lastly, playing sports will contribute to their academics in a positive way.

Thank you for the assistance!

18. A “bill and hold” scheme is most likely to include:

A) Shipment of items to a customer beyond what the customer has ordered.

B) Recording as sales items those that the seller retains in inventory as of year-end.

C) Billing of items that are held by customers for future revenue production purposes.

D) Selling items at substantial discounts near year-end.