# Register now to access 7 million high quality study materials (What's Course Hero?) Course Hero is the premier provider of high quality online educational resources. With millions of study documents, online tutors, digital flashcards and free courseware, Course Hero is helping students learn more efficiently and effectively. Whether you're interested in exploring new subjects or mastering key topics for your next exam, Course Hero has the tools you need to achieve your goals.

3 Pages

### Chapter 2

Course: ECON 1110, Spring 2011
School: Brown
Rating:

Word Count: 1905

#### Document Preview

Two Budgetary Chapter and Other Constraints on Choice Consumption Choice Sets A consumption choice set is the collection of all consumption choices available to the consumer. What constrains consumption choice? Budgetary, time and other resource limitations. Budget Constraints A consumption bundle containing x1 units of commodity 1, x2 units of commodity 2 and so on up to xn units of commodity n is denoted by...

Register Now

#### Unformatted Document Excerpt

Coursehero >> Rhode Island >> Brown >> ECON 1110

Course Hero has millions of student submitted documents similar to the one
below including study guides, practice problems, reference materials, practice exams, textbook help and tutor support.

Course Hero has millions of student submitted documents similar to the one below including study guides, practice problems, reference materials, practice exams, textbook help and tutor support.
Find millions of documents on Course Hero - Study Guides, Lecture Notes, Reference Materials, Practice Exams and more. Course Hero has millions of course specific materials providing students with the best way to expand their education.

Below is a small sample set of documents:

Brown - ECON - 1110
Chapter ThreePreferencesRationality in EconomicsBehavioral Postulate: A decisionmaker always chooses its most preferred alternative from its set of available alternatives. So to model choice we must modelPreference RelationsComparing two different co
Brown - ECON - 1110
Chapter FourUtilityPreferences - A Reminderx y: x is preferred strictly to y. x y: x and y are equally preferred. x y: x is preferred at least as ~ much as is y.Preferences - A ReminderCompleteness: For any two bundles x and y it is always possible t
Brown - ECON - 1110
Chapter FiveChoiceEconomic Rationality Theprincipal behavioral postulate is that a decisionmaker chooses its most preferred alternative from those available to it. The available choices constitute the choice set. How is the most preferred bundle in th
Brown - ECON - 1110
Chapter SixDemandProperties of Demand Functions Comparativestatics analysis of ordinary demand functions - the study of how ordinary demands x1*(p1,p2,y) and x2*(p1,p2,y) change as prices p1, p2 and income y change.Own-Price Changes Howdoes x1*(p1,
Brown - ECON - 1110
Intermediate Microeconomics Spring 2011 Homework 1: Indierence Curves Instructors: Dror Brennerand Ryan MillerEconomics 1110The purpose of this homework is to transform descriptions of preferences into indierence curves. This is the rst step in a sequen
Brown - ECON - 1110
Suggested Solutions HW1 Instructors Dror Brenner and Ryan Miller1.Left-hand glovesRight-hand glovesRight-hand gloves and left gloves are perfect complements. That is, holding the amount of left-hand gloves constant, having more right-hand gloves doesn
Brown - ECON - 1110
Intermediate Microeconomics Spring 2011 Homework 3: Choice and Demand Instructors: Dror Brenner and Ryan MillerEconomics 1110The purpose of this homework is to: (i)derive optimal consumption bundles for dierent preference relations (ii) compute and grap
Brown - ECON - 1110
Suggested Solutions HW3 Instructors Dror Brenner and Ryan Miller1. If the utility function is convex (i.e. preferences are well-behaved), and if the MRS is well-defined (i.e. the goods are not perfect complements), then the optimal consumption bundle is
Brown - ECON - 1110
Chapter 3 - Preferences Strictly, weekly prefer, indifferent Axioms of Consumer Theory o Complete any two bundles can be compared o Reflexive a bundle is at least as good as itself o Transitive Well-behaved preferences o Monotonicity more is better (negat
Brown - ECON - 1110
Brown - ECON - 1110
Brown - ECON - 1110
M a rketing: There is already a significant market there since 100 million people are there w ithout power. Yes, the proposition is compelling. PV system is cheaper than kerosene in the long run. Very few companies seem to be going into the rural areas, s
University of Florida - CHM - 2046L
University of Florida - CHM - 2046L
University of Florida - CHM - 2046L
University of Florida - CHM - 2046L
University of Florida - CHM - 2046L
University of Florida - CHM - 2046L
University of Florida - CHM - 2046L
University of Florida - CHM - 2046L
University of Florida - ANT - 3520
ANT 2 ReviewDetermination of Biological Sex Sex (biological) versus gender (social) o o o o o Differences between sexes, between size and shape (sexual dimorphism) Pathologists (dont need to, deal with flesh) versus anthropologists (have to learn how to
University of Florida - ANT - 3520
REVIEW TraumaoBlunt forceFractures ArmMonteggia fractureo Fracture of ulna with radius displacement o Caused by fall on pronated outstretched hand with straight elbow Galeazzi Fractureo Fracture of the radius o Caused by fall on pronated outstretc
University of Florida - ANT - 3520
Anthropologists and Mass DisastersMass Disasters o o Even, natural or man-made, which causes a large number of deceased individuals Or that overwhelm the capabilities of the local systemMass Disasters/Fatalities o o Disasters (Natural): Famine, epidemic
University of Florida - ANT - 3520
Cremation Cremations in the US - 2001 o o o o 1700 crematories 650697 cremations 26.93% of deaths were cremated 36.03% of deaths projected for 2010What are the reasons for disputed cremains? o o o Some commingling is inevitable; Locards principle of theo
University of Florida - ANT - 3520
Ethics in Forensic SciencesEthicsoThe discipline dealing with what is good and bad and with moral duty and obligation A set of moral principles: a theory or system of moral values The principles of conduct governing an individual or a group A criminali
University of Florida - ANT - 3520
Gunshot Wounds in BoneAnatomy of a gunshoto o o o oVelocity Caliber Projectile Type Trajectory Intermediate TargetsTypes of gunso o o o oRevolvers Semiautomatic pistols Rifles Shotguns Automatic weaponsHigh versus low velocity projectileoHigh Lar
University of Florida - ANT - 3520
Human Rights Missions in Forensic AnthropologyVictims of human rights abuseso oThe right to life and freedom , free from fear of persecution The right to ones heritage and history o As long as it doesnt hurt anyone else Or offensiveThe right to know
University of Florida - ANT - 3520
The ProfessionThe profession of forensic anthropologyoEducational requirements Minimum of masters degree Usually requires a Ph.D.o o Average of c. 8.5 years post-BA Average age of recipient is 39.5How do I do it?oBA from a good schoolGood grade
University of Florida - ANT - 3520
Trauma Analysis Antemortem fractures (alive) Healing Perimortem fractures (death) Green stick Postmortem fractures (after death) Staining Trauma Serious shock or injury to the body form violence or accident Blunt force trauma non penetrating injuries r
University of Phoenix - ACC - 423
CHAPTER 1Financial Accounting and Accounting StandardsASSIGNMENT CLASSIFICATION TABLETopics 1. Subject matter of accounting. 2. Environment of accounting. 3. Role of principles, objectives, standards, and accounting theory. 4. Historical development of
Miami Dade - PSYCH - 1515
Chapter 14: Psychological DisordersAbnormal Behavior The medical model What is abnormal behavior? Deviant Maladaptive Causing personal distress A continuum of normal/abnormalFigure 14.2 Normality and abnormality as a continuumPrevalence, Causes, and C
Miami Dade - PSYCH - 1515
Chapter 12: Personality: Theory, Research, and AssessmentDefining Personality: Consistency and Distinctiveness Personality Traits Dispositions and dimensions The Five-Factor Model Extraversion Neuroticism Openness to experience Agreeableness Conscientiou
Miami Dade - PSYCH - 1515
Chapter 11: Human Development Across the Life SpanProgress Before Birth: Prenatal Development 3 phases germinal stage = first 2 weeks conception, implantation, formation of placenta embryonic stage = 2 weeks 2 months formation of vital organs and systems
Texas A&M - OCHEM - 238
EXPERIMENT:Name _ TA _ Chem 238 Day of Lab_Time of Lab_ Date Due _PREPARATION OF A TRIAZINE HERBICIDEThese questions are to be completed and turned in at the beginning of the pre-lab period.PRE-LAB QUESTIONS1. Use www.chembiofinder.com (This can get
Lahore University of Management Sciences - BIOL - 140
the atp is generated by two methods in our body, one is oxidative phosphorylation which uses energy from reduction of NADH and FADH2, this is the major supply n for every NADH we make 3ATPS n FADH2 makes 2ATPS in ETC.NADH n FADH2 are produced in cytoplasm
UCLA - CHEMISTRY - 30AL
Strayer - COST ACCOU - 350
CHAPTER 22 MANAGEMENT CONTROL SYSTEMS, TRANSFER PRICING, AND MULTINATIONAL CONSIDERATIONS 22-1 A management control system is a means of gathering and using information to aid and coordinate the planning and control decisions throughout an organization an
Strayer - COST ACCOU - 350
CHAPTER 10 DETERMINING HOW COSTS BEHAVE 10-1 1. 2. The two assumptions are Variations in the level of a single activity (the cost driver) explain the variations in the related total costs. Cost behavior is approximated by a linear cost function within the
Strayer - COST ACCOU - 350
CHAPTER 1 THE ACCOUNTANT'S ROLE IN THE ORGANIZATION ACCOUNTANT'See the front matter of this Solutions Manual for suggestions regarding your choices of assignment material for each chapter.1-1 Management accounting measures, analyzes and reports financia
Strayer - COST ACCOU - 350
CHAPTER 2 AN INTRODUCTION TO COST TERMS AND PURPOSES 2-1 A cost object is anything for which a separate measurement of costs is desired. Examples include a product, a service, a project, a customer, a brand category, an activity, and a department. 2-2 Dir
Strayer - COST ACCOU - 350
CHAPTER 3 COST-VOLUME-PROFIT ANALYSIS NOTATION USED IN CHAPTER 3 SOLUTIONS SP: VCU: CMU: FC: TOI: Selling price Variable cost per unit Contribution margin per unit Fixed costs Target operating income3-1 Cost-volume-profit (CVP) analysis examines the beha
Strayer - COST ACCOU - 350
CHAPTER 4 JOB COSTING 4-1Cost poola grouping of individual cost items. Cost tracingthe assigning of direct costs to the chosen cost object. Cost allocationthe assigning of indirect costs to the chosen cost object. Cost-allocation basea factor that links
Strayer - COST ACCOU - 350
CHAPTER 5 ACTIVITY-BASED COSTING AND ACTIVITY-BASED MANAGEMENT 5-1 Broad averaging (or peanut-butter costing) describes a costing approach that uses broad averages for assigning (or spreading, as in spreading peanut butter) the cost of resources uniformly
Strayer - COST ACCOU - 350
CHAPTER 6 MASTER BUDGET AND RESPONSIBILITY ACCOUNTING 6-1 a. b. c. d. The budgeting cycle includes the following elements: Planning the performance of the company as a whole as well as planning the performance of its subunits. Management agrees on what is
Strayer - COST ACCOU - 350
CHAPTER 7 FLEXIBLE BUDGETS, DIRECT-COST VARIANCES, AND MANAGEMENT CONTROL 7-1 Management by exception is the practice of concentrating on areas not operating as expected and giving less attention to areas operating as expected. Variance analysis helps man
Strayer - COST ACCOU - 350
CHAPTER 8 FLEXIBLE BUDGETS, OVERHEAD COST VARIANCES, AND MANAGEMENT CONTROL 8-1 Effective planning of variable overhead costs involves: 1. Planning to undertake only those variable overhead activities that add value for customers using the product or serv
Strayer - COST ACCOU - 350
CHAPTER 9 INVENTORY COSTING AND CAPACITY ANALYSIS 9-1 No. Differences in operating income between variable costing and absorption costing are due to accounting for fixed manufacturing costs. Under variable costing only variable manufacturing costs are inc
Strayer - COST ACCOU - 350
CHAPTER 11 DECISION MAKING AND RELEVANT INFORMATION 11-1 1. 2. 3. 4. 5. The five steps in the decision process outlined in Exhibit 11-1 of the text are Identify the problem and uncertainties Obtain information Make predictions about the future Make decisi
Strayer - COST ACCOU - 350
CHAPTER 12 PRICING DECISIONS AND COST MANAGEMENT 12-1 The three major influences on pricing decisions are 1. Customers 2. Competitors 3. Costs 12-2 Not necessarily. For a one-time-only special order, the relevant costs are only those costs that will chang
Strayer - COST ACCOU - 350
CHAPTER 13 STRATEGY, BALANCED SCORECARD, AND STRATEGIC PROFITABILITY ANALYSIS 13-1 Strategy specifies how an organization matches its own capabilities with the opportunities in the marketplace to accomplish its objectives. 13-2 The five key forces to cons
Strayer - COST ACCOU - 350
CHAPTER 14 COST ALLOCATION, CUSTOMER-PROFITABILITY ANALYSIS, AND SALES-VARIANCE ANALYSIS 14-1 Disagree. Cost accounting data plays a key role in many management planning and control decisions. The division president will be able to make better operating a
Strayer - COST ACCOU - 350
CHAPTER 15 ALLOCATION OF SUPPORT-DEPARTMENT COSTS, COMMON COSTS, AND REVENUES 15-1 The single-rate (cost-allocation) method makes no distinction between fixed costs and variable costs in the cost pool. It allocates costs in each cost pool to cost objects
Strayer - COST ACCOU - 350
CHAPTER 16 COST ALLOCATION: JOINT PRODUCTS AND BYPRODUCTS 16-1 Exhibit 16-1 presents many examples of joint products from four different general industries. These include: Industry Separable Products at the Splitoff Point Food Processing: Lamb Lamb cuts,
Strayer - COST ACCOU - 350
CHAPTER 17 PROCESS COSTING 17-1 Industries using process costing in their manufacturing area include chemical processing, oil refining, pharmaceuticals, plastics, brick and tile manufacturing, semiconductor chips, beverages, and breakfast cereals. 17-2 Pr
Strayer - COST ACCOU - 350
CHAPTER 18 SPOILAGE, REWORK, AND SCRAP 18-1 Managers have found that improved quality and intolerance for high spoilage have lowered overall costs and increased sales. 18-2 Spoilageunits of production that do not meet the standards required by customers f
Strayer - COST ACCOU - 350
CHAPTER 19 BALANCED SCORECARD: QUALITY, TIME, AND THE THEORY OF CONSTRAINTS 19-1 Quality costs (including the opportunity cost of lost sales because of poor quality) can be as much as 10% to 20% of sales revenues of many organizations. Quality-improvement
Strayer - COST ACCOU - 350
CHAPTER 20 INVENTORY MANAGEMENT, JUST-IN-TIME, AND SIMPLIFIED COSTING METHODS 20-1 Cost of goods sold (in retail organizations) or direct materials costs (in organizations with a manufacturing function) as a percentage of sales frequently exceeds net inco
Strayer - COST ACCOU - 350
CHAPTER 21 CAPITAL BUDGETING AND COST ANALYSIS 21-1 No. Capital budgeting focuses on an individual investment project throughout its life, recognizing the time value of money. The life of a project is often longer than a year. Accrual accounting focuses o
Saint Louis - CMM - 120
Sample Speech Outline Name DateCENTRAL POIN: Write your one sentence central point here. [NOTE: This is for your reference. You do not speak this part.] Introduction ATTENTION-GETTER: Insert a quote, short story, question, anecdote, song lyrics, etc. her
UBC - PHYSICS - 170