# 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.

2 Pages

### Lecture Notes Jan 27

Course: IR 213, Spring 2011
School: USC
Rating:

Word Count: 422

#### Document Preview

Notes Lecture Jan 27 The firms total cost is the sum of its fixed and variable costs: o Total cost= fixed Cost + variable cost The firms marginal cost is the change in total cost divided by the corresponding change in output. o MC = Change TC/Change Q o MC = Change VC/Change Q How many to hire and how many to bats to produce o Depends on how much he can sell them for, he has to be a price-taker, looking at the...

Register Now

#### Unformatted Document Excerpt

Coursehero >> California >> USC >> IR 213

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.
Notes Lecture Jan 27 The firms total cost is the sum of its fixed and variable costs: o Total cost= fixed Cost + variable cost The firms marginal cost is the change in total cost divided by the corresponding change in output. o MC = Change TC/Change Q o MC = Change VC/Change Q How many to hire and how many to bats to produce o Depends on how much he can sell them for, he has to be a price-taker, looking at the prevailing market prices Choosing Output to Maximize Profit o If a companys goal is to maximize its profit, it should continue to expand its output as long as the marginal benefit is at least as great as the marginal cost. o Example: Suppose the wholesale price of each bat (net of lumber of other materials costs is) \$2.50 How many bats should Louisville Slugger produce. When MB = MC o To confirm that the cost- benefit principle thus applied identifies the profit-maximizing number of bottles to produce, we can calculate profit level directly. o When the law of diminishing returns applies (that is, when some factors of production are fixed), marginal cost goes up as the firm expands production beyond some point. Under these circumstances, the firms best option is to keep expanding as output long as marginal cost is less than price o The profit maximizing output level for the perfectly competitive firm: P = MC Use a graphical approach, graph the points on your typical table for Marginal Cost, Average Variable Curve, Average Total Cost The upwards sloping portion of the marginal cost curve corresponds to the region of diminishing returns The marginal cost curve must intersect both the average variable cost curve (AVC) and the average total cost curve (ATC) at their respective minimum points, when the marginal is less than average is it bringing down the average, same for converse In earlier examples, we implicitly assumed that the firm could employ workers only in whole number amounts. Under these conditions, we saw that the profit-maximizing output level for the Louisville Slugger was one for which marginal cost was somewhat less than price (because adding yet another employee would have pushed marginal cost higher than price). But when output and employment can be varied continuously the maximum-profit condition is that price be equal to marginal cost. Price line is constant and does not change Wherever MC and price intersect, that rectangle = Profit
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:

USC - IR - 213
A .) Nominal Exchange Rate a. Relative price of two currencies often expressed as number of u nits of local or home currency required to buy a unit of foreign currency b. The book t reats Mexico (peso) as our home country and U nited States (dollar) as ou
USC - IR - 213
M arch 31, 2011 Lecture Notes A.) Exchange Rate Terminology a. Flexible e, e increase, value of peso decreases, depreciation b. Flexible e, e decreases, value of peso increases, appreciation B.) Trade-Based Model a. Part of Fundamental Accounting equation
USC - IR - 213
March 1, 2011 Lecture Notes A.) History of Multi-national Enterprises a. Merchant Capitalism: think Dutch East Indian Trading Company, part of colonialism, b. Industrial Capitalism: during industrial revolution, mostly British, Japan becomes involved, c.
USC - IR - 213
M arch 3 Lecture Notes What characteristics do you believe cause a country to move abroad? o Welcome mat benefits: both tax and regulatory resource t hink tax B reaks or f lexible environmental o Access to resources (think oil or cheap skilled labor or
USC - IR - 213
In troduction o In ternational t rade refers to the exchange of merchandise and services among countries of the world o In ternational finance refers to the exchange of assests among t he countries of the world Global exchange of assets in the world econ
USC - IR - 213
THE REST OF THE BOOK TAKES Place in Mexico, foreign savings is foreigners savings in Mexico, not Mexico saving abroad Introduction o International trade refers to the exchange of merchandise and services among countries of the world o International financ
USC - IR - 213
03/24/11 Summary of Equations Domestic Investment-Domestic Savings= Foreign Savings (Foreigners Savings) o I-SD=SF Imports-Exports=Foreign Savings (Foreigners Savings) o Z-E=SF Domestic Investment-Domestic Savings= Foreign Savings= Trade Deficit Example o
USC - ARLT - 100
A pril 11, 2011 Read about the two and history of towns Mexican Revolution of 1910 (comprable to Russian or French) o A revolution of people t rying to take their lives back, o People dont just revolt because they are sad, hurt or poor, it is more than th
USC - ARLT - 100
April 18, 2011 Notes Rulfo: o Removes himself as a writer, intesifies setting, action and possessions or lack thereof of his characters, possession would have meant if people owned them, they are stories of want and Catholicism which is trying to define s
USC - ARLT - 100
A pril 20, 2011 Lecture Notes Rulfo Remember that the Mexican Revolution started after a botched election, ordinary Mexicans did not know what to think, while many started to campaign against president, they really started t o campaign for Vice Presidency
USC - ARLT - 100
A pril 27, 2011 Lecture Notes Maria de Prazeras (Sad tone, expecting to die) o L iving in the anarchist center of Spain, Barcelona, described as attractive o Lost her compassion for men a long time ago, reminds us of P ilar in 100 Years of Solitude, what
USC - ARLT - 100
Lecture Notes April 4 F inal Chapters of Solitude Reread Chapters for Clarification on Details (black prostitute? W tf? The Return of Jose Arcadio, the second o After years of lying to his mother, tu rns out he is not hugely religious, a sinner, uses his
USC - ARLT - 100
April 6, 2011 After the End of Solitude Father of Foreigners, Stepfather of Mexicans o Portfiriato: Railroads, Development Lecture o Under Juarez, his predecessor, railroad construction had started, the most common modes of transportation was mules, stage
USC - ARLT - 100
One last look at 100 Years of Solitude: Aureliano is the last character or one of the last characters alive in the book, he knows his death is imminent, and that once he stops reading he will die, Malquiades is the fictional narrator of this story while
USC - ARLT - 100
Excerpt from March 6th N YTimes Tire I ron and Tamale h ttp:/ www.nytimes.com/2011/03/06/magazine/06lives-t.html The Contrast o Chapters start with a moment like a birth and end with a death, a painterly technique that he uses, pentimiento o Aurelianos a
USC - ARLT - 100
M arch 9, 2011 Lectures Notes What did modern 20th century li terature start doing in the world? o Stopped being racist and classist, wri ting started seeing i mpoverished, indigenous, or black people as people and as people who had endured worlds of viol
USC - ARLT - 100
February 28, 2011 Lectures Notes War is brought to Macondo from the outside and existed outside of Macondo, the city was just behind the eight ball Why does Aureliano decide he is not a colonel anymore? o What makes him happier, making fishes or killing p
USC - ARLT - 100
Lecture Notes April 13, 2011 Topic: Consitutionalist Victory, Popular counter-Revolution A.) Introduction a. Winning on the revolutionary battlefields allows revolutionaries to construct new governments according to their own agenda, thats what they are f
USC - ARLT - 100
March 21, 2011 Important Events in Chapter 13 o Death of Colonel Aureliano Buendia o Ursula is now 100+ yrs old, blind, uses other senses like smell and routine to figure out where people are, and uses the suns changing positions over time to figure out w
USC - ARLT - 100
How does Garcia Marquez show change? o Listing . o Creates sense of aging, the passing of time for both the characters and the village of Macondo, for the characters of the characters and there place, the context that allows things to occur is that time
USC - ARLT - 100
Chapter 15 &amp; 16 Lectures Notes When times moves slower in the book and less hope, Marquez allows the characters and more fiction to arise, the writing is more focused, o The foreign nature of the outsiders makes the residents of Macondo unite which means
USC - ARLT - 100
Chapters 17 &amp; 18 bLEHHHHHH re-read, feeling sick through lecture What do Pilar, Santa Sofia, Petra have in common? o They are seen as givers and are generous, they are kind of secondary characters in someways because you never get to really know them Why
USC - HIST - 200gm
Severing the Bonds of Empire 1754 1774 Notes APAN Chapter 5 Notes A.) Renewed Warfare Among European Nations a. Iroquois Neutrality i. In previous wars Iroquois Confederacy remained neutral even while Britain and France tried to gain control of the New Wo
USC - HIST - 200gm
T he Rise of the South 1815 1860 APAN Chapter 10 Notes A.) The Distinctive South a. South-North Similarity i . Same geographic size, believed in the same god, had same beliefs in government (nationalism and localism), South shared the same boom and busts
USC - HIST - 200gm
The Modernizing North 1815 1860 APAN CHAPTER 11 Notes A.) Or is it the North that Was Distinctive? a. Preindustrial Farms i. Main source of farm labor was family members though some yeoman farmers, relied on slaves or indentured servants, farmers engaged
USC - HIST - 200gm
T ransforming Fire: The Civil War 1861 - 1865 A.) America Goes to War, 1861 1862 a. First Battle of Bull Run i. First Battle takes place in July of 1861 and shows US that w hile they have a lot of resources, victory will not be easy b. Grand Strategy i. U
USC - HIST - 200gm
T ransforming Fire: The Civil War 1861 - 1865 A.) America Goes to War, 1861 1862 a. First Battle of Bull Run i. First Battle takes place in July of 1861 and shows US that w hile they have a lot of resources, victory will not be easy b. Grand Strategy i. U
USC - HIST - 200gm
APAN CHAPTER 19: The Vitality &amp; Turmoil of Urban Life 1877 - 1920Important Vocabulary Political Machines: Bosses who control city politics by offering favors for votes New Immigrants: no longer just Anglo-Saxon, rise of Western European Immigrants Urban
USC - HIST - 200gm
Chapter 21 The Progressive Era 1895 1920 A .) The Var ied Progressive Impulse a. National Associations &amp; Foreign In fluence i. Because of reform groups, politics become more f ragmented and focus on specific issues more than before, many adopted models an
USC - HIST - 200gm
The Quest for Empire 1865 - 1914 A.) Imperial Dreams a. Imperial Dreams i. Important ideas in this chapter: Exceptionalism, nationalism, Social Darwinism, Capitalism, b. Foreign Policy Elite i. Those who really decide our FOPO are opinion leaders in polit
University of Texas - EM - 319
EM 319- Unique No.: Name:Tue 03/08/11 EID: Quiz 6The beam AB shown can be assumed to be weightless. Please draw the shear- force and bending moment diagrams for this beamEM 319- Unique No.: Name:Wed 03/09/11 EID: Quiz 6The beam AB shown can be assume
University of Texas - EM - 319
EM 319 Unique Number: Name: Tues: 3/22/11 EID: Quiz 7 Calculate the shear force and bending moment diagrams for the beam given. Next, Calculate the position and value of the maximum bending stress for th
University of Texas - EM - 319
EM 319 Unique No.: Name: EID:Tuesday 03/29/11Quiz 8 A simply supported beam of circular cross section is loaded with a distributed load of intensity 850 N/m and a concentrated load W=100 N acting at x = L / 2 . Find the minimum diameter for an allowable
University of Texas - EM - 319
EM 319 Unique No. : Name : Quiz 9Tuesday 4/5/11A simply supported beam AB supporting a triangularly distributed load of maximum intensity ! is shown in the figure. Derive the equation of the deflection curve and then obtain formulas for the deflection !
University of Texas - EM - 319
EM 319- Unique No.: Name:Tue 04/12/11 EID: Quiz 10The beam ABC of length 2L can be assumed to be weightless. The beam is supported at B by a linearly elastic support with stiffness k. use any method you like to solve for all reactions, and also draw the
University of Texas - EM - 319
. EL ko=Fspina is # bea&quot;*r+8, TL^e. ltrs;-,al &quot;ff*L/ &amp; 1l* bear,cgre ,rldt t&quot;7 n cfw_*;&quot;1;-,.1s b*gE B, ^f I f B Ds P i lEll r\ .n f l o \m ) 'l tp IB I A6T&quot;/lr = B=C=,rrorrunl- *Lt in*e-rnl btnilpnry ylues a?L br&quot;*- AB boor&quot;t lE n'-d EL hl\$;-bnH
University of Texas - EM - 319
/la*irrt*tt PPlt-ll4x;al oo/gk, 7f&gt;r4'!Fo-fypS/,ear Slt*s,.\/'-3tF.p.y:rFy4fQt'=-r-cfw_z?utz2fy2t-fgt Tn+s.itze= 4'r'-f= u*'cfw_'&amp;ra,t+ +zryqtu-c ocfw_4*uAt ul*tt-roaL/ df,e g*?a.,rb(t1*ztrtu*in're[r n)ni r nr*./*!*+ktry= o*/r;t
University of Texas - EM - 319
Z u lne 4 ;d f4* 45&quot; *l*l+r.7?LI 4,fl -dtLct7(--T'7M efu.rLfr rulVrchn&amp; .olzha, ocfw_ uor/,res dcfw_ah l/rNe *uct orrz/yz&quot; tlrz- kinena/-ils rLy aPtftiut ) il,e .easiesl ,rY t&quot;oln i&quot; ;-rnf&quot;r-rl, ocfw_ deb*hqL.4, d&quot; 'lX,;s is /&quot; e*rtai\$^ tte si^
University of Texas - EM - 319
(*r?Lhtned/t).It, / alldu(z&lt;I&amp;aal'*&amp;Acfw_die* - -\,t=@/rr&quot;rr&quot;r/=ts \uJ,*t-ot/a Laa*o.p*I..-z-.peatl &amp;ricel,'^v7v L?h1.L2P= Ax-ft7=o+ A*=fuFti: = - y t - *?r f s u= e2 A; 2/t;tF+; h , p B-r,tJ-ov E,t + rt, tV , A += R o 2u= &amp; z t
University of Phoenix - PSY - 210
I believe that normal should be defined as being a common person. If you act like the majority, that makes you normal. If you are free of psychological disorders, you would be a normal person. If you can act in a way that is acceptable to society, you are
Wilfrid Laurier - BUS - 111
B U111 I nt roduction to Business Organization What is Business? oSeptember 15, 2010The sum total of all activities involved in the creation and distribution of goodsand services for private property P rimary Activities of a Business Creation Operation
Wilfrid Laurier - BUS - 111
The Business 111/121 Course Model (continued) oStakeholders Definition P r ima ry and Secondary Stakeholders The Business/Stakeholder Relationship M utual Dependency Legitimate Expectations Consequences of Not Meeting Expectationso oM anagements P r i
Wilfrid Laurier - BUS - 111
The Economic Environment Canadian Capital Markets o o o Definition: Capital Markets Users of Capital Suppliers of Capital o o o Financial Intermediaries: DefinitionSecurities: Definition Internal vs. External Financing Overview of the Canadian Financial
Wilfrid Laurier - BUS - 111
Investments: Definition o o Why Invest? Defining Characteristics of Any Investment o Safety of Principal (RISK) Income Producing Capacity: Dividends/Interest Growth (Capital Gains)The Fallacy of a Perfect Investment Different People/Different Investment
Wilfrid Laurier - BUS - 111
Taxation of Investment Retu rns o o oM a rginal Tax Rate Definition Determining an I nvestors M a rginal Tax Rate Types of I nvestment Retu rns Taxation of I n terest and Example Taxation of D ividends and Example Taxation of Capital Gains and Example E
Wilfrid Laurier - BUS - 111
M onday, October 04, 2010 Taxation of Investment Retu rns o o oM a rginal Tax Rate Definition Determining an I nvestors M a rginal Tax Rate Types of I nvestment Retu rns Taxation of I n terest and Example Taxation of D ividends and Example Taxation of Ca
Wilfrid Laurier - BUS - 111
Monday, October 06, 2010 Bond Price Movements o Vary Inversely With Interest Rates Why? Example Problems to DemonstrateFeatures Possessed By Some Bonds o o o The Call (Redemption) Feature The Conversion Feature The Extendible/Retractable FeatureLecture
Wilfrid Laurier - BUS - 111
Preferred Shares: Hybrid Financing o Characteristics possessed by All Preferred Shares Fixed rate of Dividend Payment of Dividends is Discretionary Non-Voting Shares Preference Rights vs Common Shares o Liquidation Rights Dividend RightsPrice Varies Inv
Wilfrid Laurier - BUS - 111
Simple I nterest = principle \$1250 Interest Adjustment Factor Yield = annual \$510 Stock Market Transactions (slides on Website) \$2700 x 10% x year = 67.50 = 245%! o o Bid and Ask Price System Market Orders to Buy and Sell SharesShort Sales o What is a Sh
Wilfrid Laurier - BUS - 111
M a rket Buying o What Is I t? I mplications of Buying Stock on M a rgin Ma rgin Calls Ma rgin Buying Rule Example of a Ma rgin CallStock Options (Puts and Calls) (Chapter 4 Lab M anual p357) o What is an Option? Four Characteristics of Any Option Cont
Wilfrid Laurier - BUS - 111
Strike price on call \$20: Y ield = \$1381 Mkt \$20 the money at Put Option \$ 459 Mkt \$24 in the money = 301% Mkt \$16 out of the money ooExample: LMN Selling @ \$51/sh, you think price will dropPurchase 1 LMN Dec/50 Put at 4.50price decreases to \$30/sh 4 m
Wilfrid Laurier - BUS - 111
Legal Forms of Business Ownership When to Incorporate from a Tax Perspective? Sole Proprietorship: Definition o Advantages and DisadvantagesPartnerships: Definition o o o The Partnership Agreement Advantages and Disadvantages Types of Partners General Pa
Wilfrid Laurier - BUS - 111
Corporate Governance and Corporate structure o Corporate Governance: Definition o Traditional vs. Emergent ViewDiagram of Corporate Structure Shareholder Rights (review) Role of the Board of DirectorsoAre Corporations Really Democratic? Who Really con
Wilfrid Laurier - BUS - 111
Business Ethics: Textbook Chapter 3; Lab Manual p151-174 o o Expectations of Business by Society as a Whole Expectations of Business by Various Stakeholder Groups Stakeholders (review of material from first lecture) DefinitionThe Business/Stakeholder Re
Wilfrid Laurier - BUS - 111
Social Responsibility of Business: Text Chapter 3 o o What is it: Definition Contrasting Viewpoints Traditional (Economic) Viewpoint Arguments Supporting L M 148-150Emergent (Socioeconomic) Viewpoint Arguments Supporting L M 148-150oAreas of Social Re
Wilfrid Laurier - BUS - 111
Planning: Definition o General Information Re: Planning o o Foundation for Managerial Success Why Managers Dont Plan EnoughBenefits of a Formalized Planning Process Steps in the Planning Process Formation of Goals and Objectives Characteristics of Good
Wilfrid Laurier - BUS - 111
Motivating and Leading Employees o o Definition of Motivation Common Misconceptions Regarding MotivationTheories of Motivation Hierarchy of Needs: Abraham Maslow Deprivation Model of Behaviour Five Need Systems Implications or ManagersExpectancy Theory
Wilfrid Laurier - BUS - 111
Douglas McGregor: Theroy X/Theroy Y o o o o o Theory X Assumptions Results of Theory X Assumptions Hardcore Management Self-fulfilling Prophecy Theory Y AssumptionDouglas McGregor Theory X Theory Y McGregor based his findings on empirical (real world) r
Wilfrid Laurier - BUS - 111