Class costs i
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The document discusses various concepts related to costs, including: 1) It defines opportunity costs and different types of explicit and implicit costs. 2) It examines costs in the short run, including total, fixed, and variable costs. It provides an example of how these costs change with output for a company. 3) It discusses the relationship between average and marginal costs.
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The document discusses various cost concepts in economics including:
- Opportunity cost is the next best alternative use of a resource.
- Accounting costs include explicit payments, while economic costs also include implicit opportunity costs.
- Total, average, and marginal costs are defined for both the short-run and long-run. In the short-run some costs are fixed while in the long-run all costs are variable.
- Cost curves like AVC, ATC, and MC are U-shaped based on the law of diminishing returns in production. Minimum efficient scale is where long-run average costs are minimized.
Cost theory analysis
The main objectives of this presentation are to study about Production theory, to study about Production efficiency, to study about cost theory, To relate the cost with production, to study to achieve maximum profit for the organization and to study to take decision which will result maximum benefit for the organization. This report shows what a can a good manager do maximize production efficiency as well as economic efficiency. Not only this one of the most important matter that should be kept in consideration is that, the duration for continuing the production for a product in a competitive market situation. The main objective of an organization is to maximize it profit. Some simultaneous process are related to run an organization and to achieve its goal such as production, creating the demand of the product, selling the product with a profitable cost. That is why a manager should know about the total cost for the production and for the operation. Total cost per product can be reduced by increasing production efficiency. An organization should take this decision how will the increase their production efficiency and at the same time they have to decide how will they use their resources to get maximum output.
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Costs in the short run
Fixed costs remain constant regardless of the level of output in the short run, such as lease payments and maintenance, while variable costs change with output, like fuel and labor. The law of diminishing returns states that as more of a variable input is added to a fixed input, the additional output eventually declines. Total costs increase, but average costs fall and then rise as marginal costs decline and then increase with output as diminishing returns sets in.
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The document presents a report on unemployment prepared by a macroeconomics group for their professor. It defines unemployment and notes that India faces a large problem with unemployment. It classifies unemployment into voluntary and involuntary types and lists some common forms of unemployment like cyclical, sudden, industry/business failure-related, and seasonal unemployment. It discusses some causes of unemployment in India like population growth, business cycles, industry closures, and educational system defects. It provides some statistics on projected unemployment in India by 2020 and notes the impacts of unemployment like a gap between potential and actual GDP. It concludes with defining stagflation.
Group13 a3 sec_a
Fiscal policy refers to government attempts to influence the economy through taxes and spending. There are three stances of fiscal policy: neutral, expansionary, and contractionary. Government financing can be achieved through taxes, debt, or seigniorage. Taxes serve four main purposes: revenue, redistribution, repricing, and representation. Fiscal policy works through both discretionary and non-discretionary elements, such as automatic increases in government spending during economic slowdowns.
Group12 a 3-sec-a
Capital inflow is the increase in money from external sources to purchase local capital assets. It occurs through foreign direct investment, foreign institutional investment, external commercial borrowings, and non-resident Indian deposits. Liberalization, globalization, and cheaper options abroad cause capital inflows, which supplement domestic savings and support country growth, while providing returns for lenders and diversification benefits. However, heavy reliance on foreign capital can increase financial crises risk, dependence on other countries, and potential inflation. The major capital inflow forms to India are equity investments through foreign direct investment and foreign portfolio investments.
Group9 a 3-sec-a
The document discusses various aspects of inflation including the different types, causes, and effects. It defines demand-pull and cost-push inflation and some of their potential causes. Hyperinflation is defined as extremely rapid price increases where the concept of inflation becomes meaningless. It also discusses stagflation, measures of inflation including WPI and CPI, and some of the costs of inflation like shoe leather costs, menu costs, and tax distortions. The document concludes by mentioning some methods to control inflation like monetary policy, fiscal policy, direct control of prices, and controlling wages and population growth.
Group5 a 3-sec_a
The document discusses the Reserve Bank of India and its functions as the central bank of India. It regulates the country's monetary system and promotes financial stability. Some of RBI's key roles include regulating credit and money supply, managing foreign exchange, issuing currency, and developmental projects. The document also analyzes several measures taken by RBI between October and December to stimulate the economy through interest rate cuts and increased liquidity, but notes the real impact of these measures on increasing bank lending was limited.
Unemployt inflation output 0810
The document discusses the relationships between inflation, unemployment, and output. It covers topics like the types and measurement of unemployment, the Phillips curve relationship between inflation and unemployment, Okun's law linking changes in unemployment to economic growth, and the sacrifice ratio measuring the output lost from reducing inflation.
National income 1 0709
National Income Accounting measures the total value of final goods and services produced in an economy over a period of time. GDP is measured at both nominal prices and real prices to account for inflation. The three approaches to calculating GDP are the production approach, income approach, and expenditure approach. Imports can be calculated by setting the production approach formula equal to the expenditure approach formula and solving for imports.
Money supply and int rate 0810
The document discusses the relationship between money supply and inflation based on the quantity theory of money. It states that the price level is proportional to the money supply according to the equation MV=PY, where M is the money supply, V is velocity, P is price level, and Y is real output. It also defines different measures of money supply, including M1, M3, and M4, and explains that real interest rates can be calculated by subtracting expected inflation from nominal interest rates.
Monetary policy 2 0810
Monetary policy is a tool used by governments and central banks to influence interest rates and ultimately consumer and business behavior. It involves controlling the money supply through various mechanisms like adjusting reserve requirements for banks. When reserve requirements are lower, banks can lend more and increase the money supply. The demand for money depends on factors like opportunity costs determined by interest rates - higher rates reduce money demand. People hold money for transactional, precautionary and speculative motives. Monetary policy can be tightened by contracting the money supply to restrain the economy or eased by expanding it to stimulate economic activity.
Monetary policy 1 0810
Central banks play a key role in regulating the monetary system and promoting financial stability. They have several functions including issuing currency, acting as a banker to the government and commercial banks, regulating money supply and credit through various instruments of credit control. Some of the main instruments of credit control used by central banks are cash reserve ratio, statutory liquidity ratio, open market operations, and changing the bank rate. These tools allow central banks to increase or decrease money supply in the economy as needed to influence monetary policy.
Gen price level 0810
The document summarizes key inflation measures and concepts:
The GDP deflator measures overall national price changes, the CPI signals changes in prices facing consumers using retail prices of goods and services, and the WPI signals changes in prices facing producers using wholesale prices of goods including intermediate goods. Inflation is defined as a continuous rise in the general price level, and can be caused by demand-pull factors like increases in aggregate demand components, or cost-push factors like rising production costs. High or unpredictable inflation can negatively impact investment, income distribution, and economic competitiveness.
Fiscal policy 0810
The document discusses fiscal policy and how it works. It explains that fiscal policy has both discretionary and non-discretionary elements, with government spending and benefits automatically increasing during economic slowdowns and decreasing during booms. It also discusses using discretionary fiscal policy tools like infrastructure investment and tax rate reductions to boost demand. The document then covers topics like government debt, fiscal deficit, the components of government expenditure and receipts, and how economists view the relationship between fiscal deficit and the economy.
Class i macro 0810
The document discusses macroeconomics and the circular flow of income in an economy. It covers key topics such as the behavior of the overall economy, economic growth and fluctuations, and the interactions between goods, labor, and asset markets. It also presents figures showing historical data on various economic indicators in the US such as output, unemployment, prices, exports/imports, and government spending/taxes. Furthermore, it illustrates the circular flow of income between firms, households, and financial markets through consumption, income payments, savings, taxes, and other factors.
Ad as 0810
Aggregate demand is made up of private sector spending, government spending, and external sector spending on consumption goods, investment goods, and services. It includes consumption demand, investment demand, and government expenditure. Consumption demand depends on disposable income and the marginal propensity to consume, while investment demand depends on expected future output and the costs and benefits of investment like interest rates and expected growth. Aggregate demand and its components like consumption and investment are subject to fluctuations based on changes in incomes, taxes, interest rates, and expectations about future output.
T20 data
1. The document provides statistical batting and bowling statistics for various players in matches.
2. The most consistent batsmen based on average and low standard deviation are Rohit Sharma, MS Dhoni, and Gautam Gambhir. The top run scorers are Gautam Gambhir, Yuvraj Singh, Rohit Sharma, and Virender Sehwag.
3. The most consistent bowlers based on average and economy are R.P. Singh, S. Sreesanth, and Harbhajan Singh. The best bowlers are R.P. Singh, Irfan Pathan, and Harbhajan Singh.
T20 assignment
1. The document analyzes Indian cricket team's T20 performance data using statistical tools to determine the most consistent players and better batsmen/bowlers.
2. Tools used include standard deviation, coefficient of variance, correlation, and chi-square tests to analyze batsmen and bowler data and conclude which players should be part of the final T20 team.
3. The analysis found Gautam Gambhir, Yuvraj Singh, Rohit Sharma, Virender Sehwag, MS Dhoni, RP Singh, Irfan Pathan, and Harbhajan Singh to be the most consistent performers based on their statistical results.
Quants assignment
The first document shows daily sales figures for two menu items, McVeggie and McChicken, over a week. The second document provides daily sales totals for a restaurant over ten consecutive days in May and August. The third document shows the number of customer transactions or "footfalls" hourly on a Wednesday and Saturday at an unnamed location. The fourth document lists the number of work hours an employee named Raju worked on particular Wednesdays in May and August.
Personality cont
The document summarizes concepts from transactional analysis theory including structural analysis, interaction analysis, life position analysis, and games analysis. Structural analysis examines the three ego states - parent, adult, and child. Interaction analysis looks at complementary, parallel, crossed, and ulterior transactions between ego states. Life position analysis considers different attitudes of "I'm ok/you're ok." Games analysis examines behaviors used to avoid responsibility or intimacy. The document also discusses personality types, values, and Hofstede's framework for analyzing cultural differences in values.
Personality
The document discusses personality and various models used to describe it, including:
1) The Johari Window model which describes an individual's personality based on what is known vs unknown to themselves and others.
2) The Myers-Briggs Type Indicator which categorizes personality types based on preferences for Extraversion/Introversion, Sensing/Intuition, Thinking/Feeling, and Judging/Perceiving.
3) The Big Five Model which describes personality along five broad dimensions or traits.
It also discusses personality attributes relevant to organizational behavior like locus of control, Machiavellianism, self-esteem, and propensity for risk taking.
Perception 1
Perception is the process by which individuals organize and interpret sensory impressions to make meaning of their environment. People's behavior is based on their perception of reality rather than reality itself. Various factors influence perception, including selective perception and frequently used shortcuts like the halo effect, stereotyping, and first impressions. Attribution theory examines how people make judgments about the causes of behavior and whether those causes are internal or external to the individual.
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Class costs i
- 4. A firm’s short run costs
- 5. Total costs for firm X TC Output (Q) 0 1 2 3 4 5 6 7 TFC (£) 12 12 12 12 12 12 12 12 TVC (£) 0 10 16 21 28 40 60 91 TC (£) 12 22 28 33 40 52 72 103 TVC TFC
- 6. Total costs for firm X TC TVC TFC Diminishing marginal returns set in here
- 8. Average and marginal costs Output ( Q ) Costs (£) MC x Diminishing marginal returns set in here
- 14. Average and marginal costs Output ( Q ) Costs (£) AFC AVC MC x AC z y
- 19. A typical long-run average cost curve Output O Costs Economies of scale Constant costs Diseconomies of scale LRAC
- 20. Long-run average and marginal costs Output O Costs LRAC Initial economies of scale, then diseconomies of scale LRMC
- 22. Deriving long-run average cost curves: factories of fixed size Costs Output O 3 factories 2 factories 1 factory SRAC 3 SRAC 4 SRAC 5 5 factories 4 factories SRAC 1 SRAC 2
- 23. Deriving long-run average cost curves: factories of fixed size SRAC 1 SRAC 3 SRAC 2 SRAC 4 SRAC 5 LRAC Costs Output O
Editor's Notes
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