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Flashcard 1425563061516

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#cfa-level #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
Reading 14 covers the theory of the consumer, which addresses the demand for goods and services by individuals who make decisions to [...] they receive from present and future consumption.
Answer
maximize the satisfaction

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Reading 14 covers the theory of the consumer, which addresses the demand for goods and services by individuals who make decisions to maximize the satisfaction they receive from present and future consumption.

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Study Session 4
cribe the marketplace behavior of consumers and firms. Reading 13 explains the concepts and tools of demand and supply analysis—the study of how buyers and sellers interact to determine transaction prices and quantities. <span>Reading 14 covers the theory of the consumer, which addresses the demand for goods and services by individuals who make decisions to maximize the satisfaction they receive from present and future consumption. Reading 15 deals with the theory of the firm, focusing on the supply of goods and services by profit-maximizing firms. That reading provides the basis for understanding the c







Flashcard 1429151812876

Tags
#sister-miriam-joseph #trivium
Question
Logic prescribes how to combine [...] into judgments and judgments into [...] and chains of reasoning so as to achieve truth.
Answer
concepts

syllogisms

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Logic prescribes how to combine concepts into judgments and judgments into syllogisms and chains of reasoning so as to achieve truth.

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Flashcard 1429243825420

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
For normal goods, a rise in income would shift the entire demand curve [...],
Answer
upward and to the right

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For normal goods, a rise in income would shift the entire demand curve upward and to the right, resulting in an increase in demand. If the good were inferior, however, a rise in income would result in a downward and leftward shift in the entire demand curve.<

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4.3. Income Elasticity of Demand: Normal and Inferior Goods
all other things constant” when we plotted the relationship between price and quantity demanded. One of the variables we held constant was consumer income. If income were to change, obviously the whole curve would shift one way or the other. <span>For normal goods, a rise in income would shift the entire demand curve upward and to the right, resulting in an increase in demand. If the good were inferior, however, a rise in income would result in a downward and leftward shift in the entire demand curve. <span><body><html>







Flashcard 1429323255052

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#sister-miriam-joseph #trivium
Question
The applications of the theory of number include not only music theory but also [...], much of [...] , and other forms of scientific measurement of discrete quantities.
Answer
physics

chemistry

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of number include not only music (here understood as musical principles, like those of harmony, which constitute t he liberal art of music and must be distinguished from applied instrumental music, which is a fine art) but also <span>physics, much of chemistry, and other forms of scientific measurement of discrete quantities. The theory of space includes analytic geometry and trigonometry. Applications of the theory of spa

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Flashcard 1430302100748

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4 #summary
Question
If own-price elasticity of demand is less than one in absolute value, demand is called [...];
Answer
“inelastic”

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Based on algebraic sign and magnitude of the various elasticities, goods can be classified into groups. If own-price elasticity of demand is less than one in absolute value, demand is called “inelastic”; it is called “elastic” if own-price elasticity of demand is greater than one in absolute value. Goods with positive income elasticity of demand are called normal goods, and those with

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SUMMARY
he dependent variable to the percentage change in the independent variable of interest. Important specific elasticities include own-price elasticity of demand, income elasticity of demand, and cross-price elasticity of demand. <span>Based on algebraic sign and magnitude of the various elasticities, goods can be classified into groups. If own-price elasticity of demand is less than one in absolute value, demand is called “inelastic”; it is called “elastic” if own-price elasticity of demand is greater than one in absolute value. Goods with positive income elasticity of demand are called normal goods, and those with negative income elasticity of demand are called inferior goods. Two goods with negative cross-price elasticity of demand—a drop in the price of one good causes an increase in demand for the other good—are called complements. Goods with positive cross-price elasticity of demand—a drop in the price of one good causes a decrease in demand for the other—are called substitutes. The relationship among own-price elasticity of demand, changes in price, and changes in total expenditure is as follows: If demand is elastic, a reduction in price resul







Flashcard 1430319402252

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question

Equation (1) 

Qdx=f(Px,I,Py,...)

Qdx = the quantity demanded of some good X

Px = [...]

I = [...]

Py = [...]

Answer
Price of good X

consumers’ income

the price of another good, Y.

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Equation (1)  Qdx=f(Px,I,Py,...) Qdx = the quantity demanded of some good X (e.g. per household demand for gasoline in gallons per week), P x = Price of good X I = consumers’ income P y is the price of another good, Y. It may be read, “Quantity demanded of good X depends on (is a function of) the price of g

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3.1. The Demand Function and the Demand Curve
demand function . (In general, a function is a relationship that assigns a unique value to a dependent variable for any given set of values of a group of independent variables.) We represent such a demand function in Equation 1: <span>Equation (1)  Qdx=f(Px,I,Py,...) where Qdx represents the quantity demanded of some good X (such as per household demand for gasoline in gallons per week), P x is the price per unit of good X (such as $ per gallon), I is consumers’ income (as in $1,000s per household annually), and P y is the price of another good, Y. (There can be many other goods, not just one, and they can be complements or substitutes.) Equation 1 may be read, “Quantity demanded of good X depends on (is a function of) the price of good X, consumers’ income, the price of good Y, and so on.” Often, economists use simple linear equations to approximate real-world demand and supply functions in relevant ranges. A hypothetical example of a specific demand function







Flashcard 1431897771276

Tags
#sister-miriam-joseph #trivium
Question
the seven fine arts ( architecture, [...], sculpture, painting, literature, [...] , and [...] )
Answer
instrumental music

the dance

the drama

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the seven fine arts (architecture, instrumental music, sculpture, painting, literature, t he drama, and the dance)

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Flashcard 1432505158924

Tags
#matter-and-form #nature-of-language #sister-miriam-joseph #trivium
Question
The form of words is treated in [...]
Answer

semantics.

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The form of words is their meaning, and it is treated in semantics.

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Flashcard 1432945560844

Tags
#sister-miriam-joseph #trivium
Question
Horse is the species or class t o which Bucephalus and every other horse belong because the [...] or [...] of horse is common to all horses.
Answer
essence

nature

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Horse is the species or class t o which Bucephalus and every other horse belong because t he essence or nature of horse is common to all horses.

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Flashcard 1432959454476

Tags
#sister-miriam-joseph #trivium
Question
Flower is the [...] to which rose, violet, tulip, and every species of flower belong because the essence or nature of flower is the same in all of them.
Answer
genus

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Flower is the genus to which rose, violet, tulip, and every species of flower belong because the essence or nature of flower is the same in all of them.

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Flashcard 1434914000140

Tags
#6-revisiting-demand-function #cfa #cfa-level-1 #economics #microeconomics #reading-14-demand-and-supply-analysis-consumer-demand #study-session-4
Question
A demand curve for bread is derived from the [...] and a [...] representing different prices of bread.
Answer
indifference curve map

set of budget constraints

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A demand curve for bread is derived from the indifference curve map and a set of budget constraints representing different prices of bread.

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6. REVISITING THE CONSUMER’S DEMAND FUNCTION
upper exhibit, we have rotated the budget constraint rightward, indicating successively lower prices of bread, P1B , P2B , P3B , P4B , while holding income constant at I. Exhibit 15. Deriving a Demand Curve Note: <span>A demand curve for bread is derived from the indifference curve map and a set of budget constraints representing different prices of bread. This pair of diagrams deserves careful inspection. Notice first that the vertical axes are not the same. In the upper diagram, we represent the quantity of the other good,







Flashcard 1435081510156

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question

The following equation represents an individual seller’s supply function:

[...]

Answer
Qsx=f(Px,W,…)

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This concept is captured in the following equation, which represents an individual seller’s supply function: Equation (7)  Qsx=f(Px,W,…) where Qsx is the quantity supplied of some good X, such as gasoline, P x is the price per unit of good X, and W is the wage rate of labor in, say, dollars per hour. It wou

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3.3. The Supply Function and the Supply Curve
that must be purchased in the labor market. The price of an hour of labor is the wage rate, or W. Hence, we can say that (for any given level of technology) the willingness to supply a good depends on the price of that good and the wage rate. <span>This concept is captured in the following equation, which represents an individual seller’s supply function: Equation (7)  Qsx=f(Px,W,…) where Qsx is the quantity supplied of some good X, such as gasoline, P x is the price per unit of good X, and W is the wage rate of labor in, say, dollars per hour. It would be read, “The quantity supplied of good X depends on (is a function of) the price of X (its “own” price), the wage rate paid to labor, etc.” Just as with the demand function, we can consider a simple hypothetical example of a seller’s supply function. As mentioned earlier, economists often will simplify their an







Flashcard 1435097238796

Tags
#six-tips-for-working-with-the-brain #tip-2-focus-is-the-starting-point-of-learning
Question
The hippocampus can only hold about [...] of information before it must be processed and pushed into short-term memory.
Answer
20 minutes

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Here is the big shocker about the hippocampus: It can only hold so much information before it must be processed and pushed into short-term memory. Studies show that the maximum amount is about 20 minutes of information.

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Unknown title
r learning products. The brain structures that are involved in learning include the hippocampus, the amygdala, and the basal ganglia. To design the best learning experiences, we need to understand and respect the neuroscience of learning. <span>Tip #2: Focus is the starting point of learning The hippocampus is the part of the brain that takes in information and moves it to our memory. When it's damaged, people lose access to past memories and no longer can make new ones. The hippocampus acts like a recorder or data drive; like those devices, it has an "on" button. Physiologically, it's when our eyes and ears attune to something that causes the hippocampus to begin recording. Richard Davidson, from the University of Wisconsin, calls this "phase locking" and it's the starting point of all learning. As a result, we must design our learning environments to help people focus and we must bust the myth that you can multitask while learning. Research has proved that when we divide our attention, our focus switches back and forth between the two activities, also known as switch tasking. The hippocampus loses vital pieces of information for both of the things we were trying to attend to. I call this "Swiss tasking" because we end up with holes in the data the hippocampus was capturing and, therefore, holes in our learning that cannot be recovered. Here is the big shocker about the hippocampus: It can only hold so much information before it must be processed and pushed into short-term memory. Studies show that the maximum amount is about 20 minutes of information. Lecture-style sessions never have demonstrated good results for retention, and now we know why—it works against the brain's natural functioning. The good news is that many other learning activities can help. All the hippocampus needs is a few minutes of processing to push that data into short-term memory and it's ready again for more. I now build all my learning events in chunks of 15 min







Flashcard 1435108773132

Tags
#six-tips-for-working-with-the-brain #tip-4-aim-for-three-retrievals
Question
For example, I could teach you about neuroscience today and you might even have an "aha moment." But if you don't have to [...], it eventually will get dumped from your brain.
Answer
retrieve that learning again

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For example, I could teach you about neuroscience today. I can activate your schemas and you might even have an "aha moment." But if you don't have to retrieve that learning again, it eventually will get dumped from your brain.

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Unknown title
ult. This activates not only those specific memories, but also their individual schemas of change. When I pair this with hands-on activities for leading change effectively, the result is powerful and lasting. Advertisement <span>Tip #4: Aim for three retrievals One of the biggest insights from brain science has to do with how our memories are made. For conceptual learning, the evidence is clear that it's through the act of retrieval—having to recall something we have learned—that makes learning memorable for the long run. For example, I could teach you about neuroscience today (reading is certainly one of the ways we learn). I can activate your schemas and you might even have an "aha moment." But if you don't have to retrieve that learning again, it eventually will get dumped from your brain. Retrieval can occur through a variety of methods such as sharing what you learned with someone else, reflecting on how it relates to a past experience, doing an activity with hands-on application, quizzing yourself on your understanding, and a host of other learning activities. As instructional designers, we can easily build retrievals into our learning events and empower our learners to do that for themselves. This is what distinguishes great presenters from excellent instructors. Great presenters can create a feel-good experience that activates our schemas and that we thoroughly enjoy. And we will give those presenters or programs high ratings for satisfaction and raving reviews. But if no retrieval occurs, that learning will disappear in the following weeks and months. Sure, people will still say that they loved it, but they won't be able to remember much of what they learned, nor will their behavior change as a result. Research has shown that it is most effective to get to at least three retrievals. Memory studies have shown that three retrievals yield the best accuracy and retention. Although you can go on to more, the benefit seems to be better at three, so I focus on that number of retrievals in my own learning design. You can certainly build three retrievals into one learning event, but retention will be even more powerful if you add sleep to the mix. Tip #5: Build in sleep between learning It turns out that the sleeping brain plays a large role in how long-term memories are formed. While we sleep, the brain pushes information th







Flashcard 1435115851020

Tags
#six-tips-for-working-with-the-brain #tip-4-aim-for-three-retrievals
Question
You can certainly build many retrievals into one learning event, but retention will be even more powerful if you add [...]
Answer
sleep to the mix.

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You can certainly build three retrievals into one learning event, but retention will be even more powerful if you add sleep to the mix.

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Unknown title
ult. This activates not only those specific memories, but also their individual schemas of change. When I pair this with hands-on activities for leading change effectively, the result is powerful and lasting. Advertisement <span>Tip #4: Aim for three retrievals One of the biggest insights from brain science has to do with how our memories are made. For conceptual learning, the evidence is clear that it's through the act of retrieval—having to recall something we have learned—that makes learning memorable for the long run. For example, I could teach you about neuroscience today (reading is certainly one of the ways we learn). I can activate your schemas and you might even have an "aha moment." But if you don't have to retrieve that learning again, it eventually will get dumped from your brain. Retrieval can occur through a variety of methods such as sharing what you learned with someone else, reflecting on how it relates to a past experience, doing an activity with hands-on application, quizzing yourself on your understanding, and a host of other learning activities. As instructional designers, we can easily build retrievals into our learning events and empower our learners to do that for themselves. This is what distinguishes great presenters from excellent instructors. Great presenters can create a feel-good experience that activates our schemas and that we thoroughly enjoy. And we will give those presenters or programs high ratings for satisfaction and raving reviews. But if no retrieval occurs, that learning will disappear in the following weeks and months. Sure, people will still say that they loved it, but they won't be able to remember much of what they learned, nor will their behavior change as a result. Research has shown that it is most effective to get to at least three retrievals. Memory studies have shown that three retrievals yield the best accuracy and retention. Although you can go on to more, the benefit seems to be better at three, so I focus on that number of retrievals in my own learning design. You can certainly build three retrievals into one learning event, but retention will be even more powerful if you add sleep to the mix. Tip #5: Build in sleep between learning It turns out that the sleeping brain plays a large role in how long-term memories are formed. While we sleep, the brain pushes information th







Flashcard 1435511426316

Tags
#citychef #munchery
Question
Munchery has raised more than [...] in venture capital, and Tran says it’s now the largest single-kitchen pro-ducer of freshly prepared food in the cities where it operates.
Answer
$115 million

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Munchery has served more than 3 million meals since Tran and a friend, Conrad Chu, delivered their first entrees in 2010. The company has raised more than $115 million in venture capital, and Tran says it’s now the largest single-kitchen pro-ducer of freshly prepared food in the cities where it operates.

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How an immigrant motherfucker made munchery
ture level. After they’re prepared, the dishes are chilled in refrigerated rooms, packed in compostable boxes, and loaded into cars for delivery. Customers heat them up for about two minutes in a microwave or 10 to 20 in an oven. <span>Munchery has served more than 3 million meals since Tran and a friend, Conrad Chu, delivered their first entrees in 2010. The company has raised more than $115 million in venture capital, and Tran says it’s now the largest single-kitchen pro-ducer of freshly prepared food in the cities where it operates. He hopes to open in at least 10 more markets in the next few years but is secretive about expansion plans. Like many other startups in the frenzied on-demand economy, Munchery isn’t yet







Flashcard 1435584302348

Tags
#2-1-types-of-profit-measures #cfa #cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-2-objectives-of-the-firm #study-session-4
Question
There are thus two basic types of profit—[...]
Answer
accounting and economic

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There are thus two basic types of profit—accounting and economic

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2. OBJECTIVES OF THE FIRM
he firm’s efficiency in producing that level of output when utilizing inputs, and resource prices as established by resource markets. TR is a function of output and product price as determined by the firm’s product market. <span>2.1. Types of Profit Measures The economics discipline has its own concept of profit, which differs substantially from what accountants consider profit. There are thus two basic types of profit—accounting and economic—and analysts need to be able to interpret each correctly and to understand how they are related to each other. In the theory of the firm, however, profit without further qualification refers to economic profit. 2.1.1. Accounting Profit Accounting profit is generally defined as net income reported on the income statement according to standards established by private and public financial oversight bodies that determine the rules for financial reporting. One widely accepted definition of accounting profit—also known as net profit, net income, or net earnings—states that it equals revenue less all accounting (or explicit) costs . Accounting or explicit costs are payments to non-owner parties for services or resources that they supply to the firm. Often referred to as the “bottom line” (the last income figure in the income statement), accounting profit is what is left after paying all accounting costs—whether the expense is a cash outlay or not. When accounting profit is negative, it is called an accounting loss . Equation 2 summarizes the concept of accounting profit: Equation (2)  Accounting profit = Total revenue – Total accounting costs When defining profit as accounting profit, the TC term in Equation 1 becomes total accounting costs, which include only the explicit costs of doing business. Let us consider two businesses: a start-up company and a publicly traded corporation. Suppose that for the start-up, total revenue in the business’s first year is €3,500,000 and total accounting costs are €3,200,000. Accounting profit is €3,500,000 – €3,200,000 = €300,000. The corresponding calculation for the publicly traded corporation, let us suppose, is $50,000,000 – $48,000,000 = $2,000,000. Note that total accounting costs in either case include interest expense—which represents the return required by suppliers of debt capital—because interest expense is an explicit cost. 2.1.2. Economic Profit and Normal Profit Economic profit (also known as abnormal profit or supernormal profit ) may be defined broadly as acc







#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
(Economic) profitTotal revenue minus total economic cost; (TRTC)
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rage revenue, and marginal revenue. Cost terms follow with an overview of the different types of costs—total, average, and marginal. Exhibit 3. Summary of Profit, Revenue, and Cost Terms Term Calculation Profit <span>(Economic) profit Total revenue minus total economic cost; (TR – TC) Revenue Total revenue (TR) Price times quantity (P × Q), or the sum of individual units sold times their respective prices; ∑(P i × Q i ) Average revenue (AR) Total revenue divided b

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3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
umber of time periods). For example, average revenue is calculated by dividing total revenue by the number of items sold. To calculate a marginal term, take the change in the total and divide by the change in the quantity number. <span>Exhibit 3 shows a summary of the terminology and formulas pertaining to profit maximization, where profit is defined as total revenue minus total economic costs. Note that the definition of profit is the economic version, which recognizes that the implicit opportunity costs of equity capital, in addition to explicit accounting costs, are economic costs. The first main category consists of terms pertaining to the revenue side of the profit equation: total revenue, average revenue, and marginal revenue. Cost terms follow with an overview of the different types of costs—total, average, and marginal. Exhibit 3. Summary of Profit, Revenue, and Cost Terms Term Calculation Profit (Economic) profit Total revenue minus total economic cost; (TR – TC) Revenue Total revenue (TR) Price times quantity (P × Q), or the sum of individual units sold times their respective prices; ∑(P i × Q i ) Average revenue (AR) Total revenue divided by quantity; (TR ÷ Q) Marginal revenue (MR) Change in total revenue divided by change in quantity; (∆TR ÷ ∆Q) Costs Total fixed cost (TFC) Sum of all fixed expenses; here defined to include all opportunity costs Total variable cost (TVC) Sum of all variable expenses, or per unit variable cost times quantity; (per unit VC × Q) Total costs (TC) Total fixed cost plus total variable cost; (TFC + TVC) Average fixed cost (AFC) Total fixed cost divided by quantity; (TFC ÷ Q) Average variable cost (AVC) Total variable cost divided by quantity; (TVC ÷ Q) Average total cost (ATC) Total cost divided by quantity; (TC ÷ Q) or (AFC + AVC) Marginal cost (MC) Change in total cost divided by change in quantity; (∆TC ÷ ∆Q) 3.1. Profit Maximization In free markets—and even in regulated market economies—profit maximization tends to promote economic welfare and a hig




Flashcard 1435774881036

Tags
#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question
(Economic) profit = [...] minus [...]
Answer
Total revenue minus total economic cost; (TRTC)

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(Economic) profitTotal revenue minus total economic cost; (TR – TC)

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3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
umber of time periods). For example, average revenue is calculated by dividing total revenue by the number of items sold. To calculate a marginal term, take the change in the total and divide by the change in the quantity number. <span>Exhibit 3 shows a summary of the terminology and formulas pertaining to profit maximization, where profit is defined as total revenue minus total economic costs. Note that the definition of profit is the economic version, which recognizes that the implicit opportunity costs of equity capital, in addition to explicit accounting costs, are economic costs. The first main category consists of terms pertaining to the revenue side of the profit equation: total revenue, average revenue, and marginal revenue. Cost terms follow with an overview of the different types of costs—total, average, and marginal. Exhibit 3. Summary of Profit, Revenue, and Cost Terms Term Calculation Profit (Economic) profit Total revenue minus total economic cost; (TR – TC) Revenue Total revenue (TR) Price times quantity (P × Q), or the sum of individual units sold times their respective prices; ∑(P i × Q i ) Average revenue (AR) Total revenue divided by quantity; (TR ÷ Q) Marginal revenue (MR) Change in total revenue divided by change in quantity; (∆TR ÷ ∆Q) Costs Total fixed cost (TFC) Sum of all fixed expenses; here defined to include all opportunity costs Total variable cost (TVC) Sum of all variable expenses, or per unit variable cost times quantity; (per unit VC × Q) Total costs (TC) Total fixed cost plus total variable cost; (TFC + TVC) Average fixed cost (AFC) Total fixed cost divided by quantity; (TFC ÷ Q) Average variable cost (AVC) Total variable cost divided by quantity; (TVC ÷ Q) Average total cost (ATC) Total cost divided by quantity; (TC ÷ Q) or (AFC + AVC) Marginal cost (MC) Change in total cost divided by change in quantity; (∆TC ÷ ∆Q) 3.1. Profit Maximization In free markets—and even in regulated market economies—profit maximization tends to promote economic welfare and a hig







Flashcard 1435778026764

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Question
To calculate a marginal term, [...]
Answer
take the change in the total and divide by the change in the quantity number.

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To calculate a marginal term, take the change in the total and divide by the change in the quantity number.

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3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
calculated with respect to the quantity produced and sold in a single period (as opposed to averaging a quantity over a number of time periods). For example, average revenue is calculated by dividing total revenue by the number of items sold. <span>To calculate a marginal term, take the change in the total and divide by the change in the quantity number. Exhibit 3 shows a summary of the terminology and formulas pertaining to profit maximization, where profit is defined as total revenue minus total economic costs. Note that







Flashcard 1435779599628

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#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question
Revenue and cost flows are calculated in terms of [...] [...] and [...]
Answer
total, average, and marginal

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Revenue and cost flows are calculated in terms of total, average, and marginal

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3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
To fully comprehend the dimensions of profit maximization, one must have a detailed understanding of the revenue and cost variables that determine profit. Revenue and cost flows are calculated in terms of total, average, and marginal. A total is the summation of all individual components. For example, total cost is the summation of all costs that are incurred by the business. Total revenue is the sum of the revenues







#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Total revenue (TR)Price times quantity (P × Q), or the sum of individual units sold times their respective prices; ∑(Pi × Qi)
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ifferent types of costs—total, average, and marginal. Exhibit 3. Summary of Profit, Revenue, and Cost Terms Term Calculation Profit (Economic) profit Total revenue minus total economic cost; (TR – TC) Revenue <span>Total revenue (TR) Price times quantity (P × Q), or the sum of individual units sold times their respective prices; ∑(P i × Q i ) Average revenue (AR) Total revenue divided by quantity; (TR ÷ Q) Marginal revenue (MR) Change in total revenue divided by change in quantity; (∆TR ÷ ∆Q) Costs Total fixed cost (TFC) S

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3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
umber of time periods). For example, average revenue is calculated by dividing total revenue by the number of items sold. To calculate a marginal term, take the change in the total and divide by the change in the quantity number. <span>Exhibit 3 shows a summary of the terminology and formulas pertaining to profit maximization, where profit is defined as total revenue minus total economic costs. Note that the definition of profit is the economic version, which recognizes that the implicit opportunity costs of equity capital, in addition to explicit accounting costs, are economic costs. The first main category consists of terms pertaining to the revenue side of the profit equation: total revenue, average revenue, and marginal revenue. Cost terms follow with an overview of the different types of costs—total, average, and marginal. Exhibit 3. Summary of Profit, Revenue, and Cost Terms Term Calculation Profit (Economic) profit Total revenue minus total economic cost; (TR – TC) Revenue Total revenue (TR) Price times quantity (P × Q), or the sum of individual units sold times their respective prices; ∑(P i × Q i ) Average revenue (AR) Total revenue divided by quantity; (TR ÷ Q) Marginal revenue (MR) Change in total revenue divided by change in quantity; (∆TR ÷ ∆Q) Costs Total fixed cost (TFC) Sum of all fixed expenses; here defined to include all opportunity costs Total variable cost (TVC) Sum of all variable expenses, or per unit variable cost times quantity; (per unit VC × Q) Total costs (TC) Total fixed cost plus total variable cost; (TFC + TVC) Average fixed cost (AFC) Total fixed cost divided by quantity; (TFC ÷ Q) Average variable cost (AVC) Total variable cost divided by quantity; (TVC ÷ Q) Average total cost (ATC) Total cost divided by quantity; (TC ÷ Q) or (AFC + AVC) Marginal cost (MC) Change in total cost divided by change in quantity; (∆TC ÷ ∆Q) 3.1. Profit Maximization In free markets—and even in regulated market economies—profit maximization tends to promote economic welfare and a hig




#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Average revenue (AR)Total revenue divided by quantity; (TR ÷ Q)
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Term Calculation Profit (Economic) profit Total revenue minus total economic cost; (TR – TC) Revenue Total revenue (TR) Price times quantity (P × Q), or the sum of individual units sold times their respective prices; ∑(P i × Q i ) <span>Average revenue (AR) Total revenue divided by quantity; (TR ÷ Q) Marginal revenue (MR) Change in total revenue divided by change in quantity; (∆TR ÷ ∆Q) Costs Total fixed cost (TFC) Sum of all fixed expenses; here defined to include all opportunity

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3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
umber of time periods). For example, average revenue is calculated by dividing total revenue by the number of items sold. To calculate a marginal term, take the change in the total and divide by the change in the quantity number. <span>Exhibit 3 shows a summary of the terminology and formulas pertaining to profit maximization, where profit is defined as total revenue minus total economic costs. Note that the definition of profit is the economic version, which recognizes that the implicit opportunity costs of equity capital, in addition to explicit accounting costs, are economic costs. The first main category consists of terms pertaining to the revenue side of the profit equation: total revenue, average revenue, and marginal revenue. Cost terms follow with an overview of the different types of costs—total, average, and marginal. Exhibit 3. Summary of Profit, Revenue, and Cost Terms Term Calculation Profit (Economic) profit Total revenue minus total economic cost; (TR – TC) Revenue Total revenue (TR) Price times quantity (P × Q), or the sum of individual units sold times their respective prices; ∑(P i × Q i ) Average revenue (AR) Total revenue divided by quantity; (TR ÷ Q) Marginal revenue (MR) Change in total revenue divided by change in quantity; (∆TR ÷ ∆Q) Costs Total fixed cost (TFC) Sum of all fixed expenses; here defined to include all opportunity costs Total variable cost (TVC) Sum of all variable expenses, or per unit variable cost times quantity; (per unit VC × Q) Total costs (TC) Total fixed cost plus total variable cost; (TFC + TVC) Average fixed cost (AFC) Total fixed cost divided by quantity; (TFC ÷ Q) Average variable cost (AVC) Total variable cost divided by quantity; (TVC ÷ Q) Average total cost (ATC) Total cost divided by quantity; (TC ÷ Q) or (AFC + AVC) Marginal cost (MC) Change in total cost divided by change in quantity; (∆TC ÷ ∆Q) 3.1. Profit Maximization In free markets—and even in regulated market economies—profit maximization tends to promote economic welfare and a hig




#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Marginal revenue (MR)Change in total revenue divided by change in quantity; (∆TR ÷ ∆Q)
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minus total economic cost; (TR – TC) Revenue Total revenue (TR) Price times quantity (P × Q), or the sum of individual units sold times their respective prices; ∑(P i × Q i ) Average revenue (AR) Total revenue divided by quantity; (TR ÷ Q) <span>Marginal revenue (MR) Change in total revenue divided by change in quantity; (∆TR ÷ ∆Q) Costs Total fixed cost (TFC) Sum of all fixed expenses; here defined to include all opportunity costs Total variable cost (TVC) Sum of all variable expenses, or per unit variable cost

Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
umber of time periods). For example, average revenue is calculated by dividing total revenue by the number of items sold. To calculate a marginal term, take the change in the total and divide by the change in the quantity number. <span>Exhibit 3 shows a summary of the terminology and formulas pertaining to profit maximization, where profit is defined as total revenue minus total economic costs. Note that the definition of profit is the economic version, which recognizes that the implicit opportunity costs of equity capital, in addition to explicit accounting costs, are economic costs. The first main category consists of terms pertaining to the revenue side of the profit equation: total revenue, average revenue, and marginal revenue. Cost terms follow with an overview of the different types of costs—total, average, and marginal. Exhibit 3. Summary of Profit, Revenue, and Cost Terms Term Calculation Profit (Economic) profit Total revenue minus total economic cost; (TR – TC) Revenue Total revenue (TR) Price times quantity (P × Q), or the sum of individual units sold times their respective prices; ∑(P i × Q i ) Average revenue (AR) Total revenue divided by quantity; (TR ÷ Q) Marginal revenue (MR) Change in total revenue divided by change in quantity; (∆TR ÷ ∆Q) Costs Total fixed cost (TFC) Sum of all fixed expenses; here defined to include all opportunity costs Total variable cost (TVC) Sum of all variable expenses, or per unit variable cost times quantity; (per unit VC × Q) Total costs (TC) Total fixed cost plus total variable cost; (TFC + TVC) Average fixed cost (AFC) Total fixed cost divided by quantity; (TFC ÷ Q) Average variable cost (AVC) Total variable cost divided by quantity; (TVC ÷ Q) Average total cost (ATC) Total cost divided by quantity; (TC ÷ Q) or (AFC + AVC) Marginal cost (MC) Change in total cost divided by change in quantity; (∆TC ÷ ∆Q) 3.1. Profit Maximization In free markets—and even in regulated market economies—profit maximization tends to promote economic welfare and a hig




#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Total fixed cost (TFC)Sum of all fixed expenses; here defined to include all opportunity costs
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or the sum of individual units sold times their respective prices; ∑(P i × Q i ) Average revenue (AR) Total revenue divided by quantity; (TR ÷ Q) Marginal revenue (MR) Change in total revenue divided by change in quantity; (∆TR ÷ ∆Q) Costs <span>Total fixed cost (TFC) Sum of all fixed expenses; here defined to include all opportunity costs Total variable cost (TVC) Sum of all variable expenses, or per unit variable cost times quantity; (per unit VC × Q) Total costs (TC) Total fixed cost plus total variable cost; (TFC + TV

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3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
umber of time periods). For example, average revenue is calculated by dividing total revenue by the number of items sold. To calculate a marginal term, take the change in the total and divide by the change in the quantity number. <span>Exhibit 3 shows a summary of the terminology and formulas pertaining to profit maximization, where profit is defined as total revenue minus total economic costs. Note that the definition of profit is the economic version, which recognizes that the implicit opportunity costs of equity capital, in addition to explicit accounting costs, are economic costs. The first main category consists of terms pertaining to the revenue side of the profit equation: total revenue, average revenue, and marginal revenue. Cost terms follow with an overview of the different types of costs—total, average, and marginal. Exhibit 3. Summary of Profit, Revenue, and Cost Terms Term Calculation Profit (Economic) profit Total revenue minus total economic cost; (TR – TC) Revenue Total revenue (TR) Price times quantity (P × Q), or the sum of individual units sold times their respective prices; ∑(P i × Q i ) Average revenue (AR) Total revenue divided by quantity; (TR ÷ Q) Marginal revenue (MR) Change in total revenue divided by change in quantity; (∆TR ÷ ∆Q) Costs Total fixed cost (TFC) Sum of all fixed expenses; here defined to include all opportunity costs Total variable cost (TVC) Sum of all variable expenses, or per unit variable cost times quantity; (per unit VC × Q) Total costs (TC) Total fixed cost plus total variable cost; (TFC + TVC) Average fixed cost (AFC) Total fixed cost divided by quantity; (TFC ÷ Q) Average variable cost (AVC) Total variable cost divided by quantity; (TVC ÷ Q) Average total cost (ATC) Total cost divided by quantity; (TC ÷ Q) or (AFC + AVC) Marginal cost (MC) Change in total cost divided by change in quantity; (∆TC ÷ ∆Q) 3.1. Profit Maximization In free markets—and even in regulated market economies—profit maximization tends to promote economic welfare and a hig




Flashcard 1435786153228

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#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question
Total fixed cost (TFC) are here defined to include [...];
Answer
all opportunity costs

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Total fixed cost (TFC)Sum of all fixed expenses; here defined to include all opportunity costs

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3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
umber of time periods). For example, average revenue is calculated by dividing total revenue by the number of items sold. To calculate a marginal term, take the change in the total and divide by the change in the quantity number. <span>Exhibit 3 shows a summary of the terminology and formulas pertaining to profit maximization, where profit is defined as total revenue minus total economic costs. Note that the definition of profit is the economic version, which recognizes that the implicit opportunity costs of equity capital, in addition to explicit accounting costs, are economic costs. The first main category consists of terms pertaining to the revenue side of the profit equation: total revenue, average revenue, and marginal revenue. Cost terms follow with an overview of the different types of costs—total, average, and marginal. Exhibit 3. Summary of Profit, Revenue, and Cost Terms Term Calculation Profit (Economic) profit Total revenue minus total economic cost; (TR – TC) Revenue Total revenue (TR) Price times quantity (P × Q), or the sum of individual units sold times their respective prices; ∑(P i × Q i ) Average revenue (AR) Total revenue divided by quantity; (TR ÷ Q) Marginal revenue (MR) Change in total revenue divided by change in quantity; (∆TR ÷ ∆Q) Costs Total fixed cost (TFC) Sum of all fixed expenses; here defined to include all opportunity costs Total variable cost (TVC) Sum of all variable expenses, or per unit variable cost times quantity; (per unit VC × Q) Total costs (TC) Total fixed cost plus total variable cost; (TFC + TVC) Average fixed cost (AFC) Total fixed cost divided by quantity; (TFC ÷ Q) Average variable cost (AVC) Total variable cost divided by quantity; (TVC ÷ Q) Average total cost (ATC) Total cost divided by quantity; (TC ÷ Q) or (AFC + AVC) Marginal cost (MC) Change in total cost divided by change in quantity; (∆TC ÷ ∆Q) 3.1. Profit Maximization In free markets—and even in regulated market economies—profit maximization tends to promote economic welfare and a hig







Flashcard 1435787726092

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#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question
Marginal revenue (MR)[...]
Answer
Change in total revenue divided by change in quantity; (∆TR ÷ ∆Q)

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Marginal revenue (MR)Change in total revenue divided by change in quantity; (∆TR ÷ ∆Q)

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3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
umber of time periods). For example, average revenue is calculated by dividing total revenue by the number of items sold. To calculate a marginal term, take the change in the total and divide by the change in the quantity number. <span>Exhibit 3 shows a summary of the terminology and formulas pertaining to profit maximization, where profit is defined as total revenue minus total economic costs. Note that the definition of profit is the economic version, which recognizes that the implicit opportunity costs of equity capital, in addition to explicit accounting costs, are economic costs. The first main category consists of terms pertaining to the revenue side of the profit equation: total revenue, average revenue, and marginal revenue. Cost terms follow with an overview of the different types of costs—total, average, and marginal. Exhibit 3. Summary of Profit, Revenue, and Cost Terms Term Calculation Profit (Economic) profit Total revenue minus total economic cost; (TR – TC) Revenue Total revenue (TR) Price times quantity (P × Q), or the sum of individual units sold times their respective prices; ∑(P i × Q i ) Average revenue (AR) Total revenue divided by quantity; (TR ÷ Q) Marginal revenue (MR) Change in total revenue divided by change in quantity; (∆TR ÷ ∆Q) Costs Total fixed cost (TFC) Sum of all fixed expenses; here defined to include all opportunity costs Total variable cost (TVC) Sum of all variable expenses, or per unit variable cost times quantity; (per unit VC × Q) Total costs (TC) Total fixed cost plus total variable cost; (TFC + TVC) Average fixed cost (AFC) Total fixed cost divided by quantity; (TFC ÷ Q) Average variable cost (AVC) Total variable cost divided by quantity; (TVC ÷ Q) Average total cost (ATC) Total cost divided by quantity; (TC ÷ Q) or (AFC + AVC) Marginal cost (MC) Change in total cost divided by change in quantity; (∆TC ÷ ∆Q) 3.1. Profit Maximization In free markets—and even in regulated market economies—profit maximization tends to promote economic welfare and a hig







Flashcard 1435789298956

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#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question
Average revenue (AR)[...]
Answer
Total revenue divided by quantity; (TR ÷ Q)

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Average revenue (AR)Total revenue divided by quantity; (TR ÷ Q)

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3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
umber of time periods). For example, average revenue is calculated by dividing total revenue by the number of items sold. To calculate a marginal term, take the change in the total and divide by the change in the quantity number. <span>Exhibit 3 shows a summary of the terminology and formulas pertaining to profit maximization, where profit is defined as total revenue minus total economic costs. Note that the definition of profit is the economic version, which recognizes that the implicit opportunity costs of equity capital, in addition to explicit accounting costs, are economic costs. The first main category consists of terms pertaining to the revenue side of the profit equation: total revenue, average revenue, and marginal revenue. Cost terms follow with an overview of the different types of costs—total, average, and marginal. Exhibit 3. Summary of Profit, Revenue, and Cost Terms Term Calculation Profit (Economic) profit Total revenue minus total economic cost; (TR – TC) Revenue Total revenue (TR) Price times quantity (P × Q), or the sum of individual units sold times their respective prices; ∑(P i × Q i ) Average revenue (AR) Total revenue divided by quantity; (TR ÷ Q) Marginal revenue (MR) Change in total revenue divided by change in quantity; (∆TR ÷ ∆Q) Costs Total fixed cost (TFC) Sum of all fixed expenses; here defined to include all opportunity costs Total variable cost (TVC) Sum of all variable expenses, or per unit variable cost times quantity; (per unit VC × Q) Total costs (TC) Total fixed cost plus total variable cost; (TFC + TVC) Average fixed cost (AFC) Total fixed cost divided by quantity; (TFC ÷ Q) Average variable cost (AVC) Total variable cost divided by quantity; (TVC ÷ Q) Average total cost (ATC) Total cost divided by quantity; (TC ÷ Q) or (AFC + AVC) Marginal cost (MC) Change in total cost divided by change in quantity; (∆TC ÷ ∆Q) 3.1. Profit Maximization In free markets—and even in regulated market economies—profit maximization tends to promote economic welfare and a hig







Flashcard 1435790871820

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#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question
Total revenue (TR)[...] or [...]
Answer
Price times quantity (P × Q),

the sum of individual units sold times their respective prices; ∑(Pi × Qi)

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Total revenue (TR)Price times quantity (P × Q), or the sum of individual units sold times their respective prices; ∑(P i × Q i )

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3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
umber of time periods). For example, average revenue is calculated by dividing total revenue by the number of items sold. To calculate a marginal term, take the change in the total and divide by the change in the quantity number. <span>Exhibit 3 shows a summary of the terminology and formulas pertaining to profit maximization, where profit is defined as total revenue minus total economic costs. Note that the definition of profit is the economic version, which recognizes that the implicit opportunity costs of equity capital, in addition to explicit accounting costs, are economic costs. The first main category consists of terms pertaining to the revenue side of the profit equation: total revenue, average revenue, and marginal revenue. Cost terms follow with an overview of the different types of costs—total, average, and marginal. Exhibit 3. Summary of Profit, Revenue, and Cost Terms Term Calculation Profit (Economic) profit Total revenue minus total economic cost; (TR – TC) Revenue Total revenue (TR) Price times quantity (P × Q), or the sum of individual units sold times their respective prices; ∑(P i × Q i ) Average revenue (AR) Total revenue divided by quantity; (TR ÷ Q) Marginal revenue (MR) Change in total revenue divided by change in quantity; (∆TR ÷ ∆Q) Costs Total fixed cost (TFC) Sum of all fixed expenses; here defined to include all opportunity costs Total variable cost (TVC) Sum of all variable expenses, or per unit variable cost times quantity; (per unit VC × Q) Total costs (TC) Total fixed cost plus total variable cost; (TFC + TVC) Average fixed cost (AFC) Total fixed cost divided by quantity; (TFC ÷ Q) Average variable cost (AVC) Total variable cost divided by quantity; (TVC ÷ Q) Average total cost (ATC) Total cost divided by quantity; (TC ÷ Q) or (AFC + AVC) Marginal cost (MC) Change in total cost divided by change in quantity; (∆TC ÷ ∆Q) 3.1. Profit Maximization In free markets—and even in regulated market economies—profit maximization tends to promote economic welfare and a hig







#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Total variable cost (TVC)Sum of all variable expenses, or per unit variable cost times quantity; (per unit VC × Q)
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e (AR) Total revenue divided by quantity; (TR ÷ Q) Marginal revenue (MR) Change in total revenue divided by change in quantity; (∆TR ÷ ∆Q) Costs Total fixed cost (TFC) Sum of all fixed expenses; here defined to include all opportunity costs <span>Total variable cost (TVC) Sum of all variable expenses, or per unit variable cost times quantity; (per unit VC × Q) Total costs (TC) Total fixed cost plus total variable cost; (TFC + TVC) Average fixed cost (AFC) Total fixed cost divided by quantity; (TFC ÷ Q) Average variable cost (AVC) Total variab

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3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
umber of time periods). For example, average revenue is calculated by dividing total revenue by the number of items sold. To calculate a marginal term, take the change in the total and divide by the change in the quantity number. <span>Exhibit 3 shows a summary of the terminology and formulas pertaining to profit maximization, where profit is defined as total revenue minus total economic costs. Note that the definition of profit is the economic version, which recognizes that the implicit opportunity costs of equity capital, in addition to explicit accounting costs, are economic costs. The first main category consists of terms pertaining to the revenue side of the profit equation: total revenue, average revenue, and marginal revenue. Cost terms follow with an overview of the different types of costs—total, average, and marginal. Exhibit 3. Summary of Profit, Revenue, and Cost Terms Term Calculation Profit (Economic) profit Total revenue minus total economic cost; (TR – TC) Revenue Total revenue (TR) Price times quantity (P × Q), or the sum of individual units sold times their respective prices; ∑(P i × Q i ) Average revenue (AR) Total revenue divided by quantity; (TR ÷ Q) Marginal revenue (MR) Change in total revenue divided by change in quantity; (∆TR ÷ ∆Q) Costs Total fixed cost (TFC) Sum of all fixed expenses; here defined to include all opportunity costs Total variable cost (TVC) Sum of all variable expenses, or per unit variable cost times quantity; (per unit VC × Q) Total costs (TC) Total fixed cost plus total variable cost; (TFC + TVC) Average fixed cost (AFC) Total fixed cost divided by quantity; (TFC ÷ Q) Average variable cost (AVC) Total variable cost divided by quantity; (TVC ÷ Q) Average total cost (ATC) Total cost divided by quantity; (TC ÷ Q) or (AFC + AVC) Marginal cost (MC) Change in total cost divided by change in quantity; (∆TC ÷ ∆Q) 3.1. Profit Maximization In free markets—and even in regulated market economies—profit maximization tends to promote economic welfare and a hig




#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Total costs (TC)Total fixed cost plus total variable cost; (TFC + TVC)
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n quantity; (∆TR ÷ ∆Q) Costs Total fixed cost (TFC) Sum of all fixed expenses; here defined to include all opportunity costs Total variable cost (TVC) Sum of all variable expenses, or per unit variable cost times quantity; (per unit VC × Q) <span>Total costs (TC) Total fixed cost plus total variable cost; (TFC + TVC) Average fixed cost (AFC) Total fixed cost divided by quantity; (TFC ÷ Q) Average variable cost (AVC) Total variable cost divided by quantity; (TVC ÷ Q) Average total cost (ATC) Total co

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3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
umber of time periods). For example, average revenue is calculated by dividing total revenue by the number of items sold. To calculate a marginal term, take the change in the total and divide by the change in the quantity number. <span>Exhibit 3 shows a summary of the terminology and formulas pertaining to profit maximization, where profit is defined as total revenue minus total economic costs. Note that the definition of profit is the economic version, which recognizes that the implicit opportunity costs of equity capital, in addition to explicit accounting costs, are economic costs. The first main category consists of terms pertaining to the revenue side of the profit equation: total revenue, average revenue, and marginal revenue. Cost terms follow with an overview of the different types of costs—total, average, and marginal. Exhibit 3. Summary of Profit, Revenue, and Cost Terms Term Calculation Profit (Economic) profit Total revenue minus total economic cost; (TR – TC) Revenue Total revenue (TR) Price times quantity (P × Q), or the sum of individual units sold times their respective prices; ∑(P i × Q i ) Average revenue (AR) Total revenue divided by quantity; (TR ÷ Q) Marginal revenue (MR) Change in total revenue divided by change in quantity; (∆TR ÷ ∆Q) Costs Total fixed cost (TFC) Sum of all fixed expenses; here defined to include all opportunity costs Total variable cost (TVC) Sum of all variable expenses, or per unit variable cost times quantity; (per unit VC × Q) Total costs (TC) Total fixed cost plus total variable cost; (TFC + TVC) Average fixed cost (AFC) Total fixed cost divided by quantity; (TFC ÷ Q) Average variable cost (AVC) Total variable cost divided by quantity; (TVC ÷ Q) Average total cost (ATC) Total cost divided by quantity; (TC ÷ Q) or (AFC + AVC) Marginal cost (MC) Change in total cost divided by change in quantity; (∆TC ÷ ∆Q) 3.1. Profit Maximization In free markets—and even in regulated market economies—profit maximization tends to promote economic welfare and a hig




#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Average fixed cost (AFC)Total fixed cost divided by quantity; (TFC ÷ Q)
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xpenses; here defined to include all opportunity costs Total variable cost (TVC) Sum of all variable expenses, or per unit variable cost times quantity; (per unit VC × Q) Total costs (TC) Total fixed cost plus total variable cost; (TFC + TVC) <span>Average fixed cost (AFC) Total fixed cost divided by quantity; (TFC ÷ Q) Average variable cost (AVC) Total variable cost divided by quantity; (TVC ÷ Q) Average total cost (ATC) Total cost divided by quantity; (TC ÷ Q) or (AFC + AVC) Marginal cost (MC) Change

Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
umber of time periods). For example, average revenue is calculated by dividing total revenue by the number of items sold. To calculate a marginal term, take the change in the total and divide by the change in the quantity number. <span>Exhibit 3 shows a summary of the terminology and formulas pertaining to profit maximization, where profit is defined as total revenue minus total economic costs. Note that the definition of profit is the economic version, which recognizes that the implicit opportunity costs of equity capital, in addition to explicit accounting costs, are economic costs. The first main category consists of terms pertaining to the revenue side of the profit equation: total revenue, average revenue, and marginal revenue. Cost terms follow with an overview of the different types of costs—total, average, and marginal. Exhibit 3. Summary of Profit, Revenue, and Cost Terms Term Calculation Profit (Economic) profit Total revenue minus total economic cost; (TR – TC) Revenue Total revenue (TR) Price times quantity (P × Q), or the sum of individual units sold times their respective prices; ∑(P i × Q i ) Average revenue (AR) Total revenue divided by quantity; (TR ÷ Q) Marginal revenue (MR) Change in total revenue divided by change in quantity; (∆TR ÷ ∆Q) Costs Total fixed cost (TFC) Sum of all fixed expenses; here defined to include all opportunity costs Total variable cost (TVC) Sum of all variable expenses, or per unit variable cost times quantity; (per unit VC × Q) Total costs (TC) Total fixed cost plus total variable cost; (TFC + TVC) Average fixed cost (AFC) Total fixed cost divided by quantity; (TFC ÷ Q) Average variable cost (AVC) Total variable cost divided by quantity; (TVC ÷ Q) Average total cost (ATC) Total cost divided by quantity; (TC ÷ Q) or (AFC + AVC) Marginal cost (MC) Change in total cost divided by change in quantity; (∆TC ÷ ∆Q) 3.1. Profit Maximization In free markets—and even in regulated market economies—profit maximization tends to promote economic welfare and a hig




#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Average variable cost (AVC)Total variable cost divided by quantity; (TVC ÷ Q)
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t (TVC) Sum of all variable expenses, or per unit variable cost times quantity; (per unit VC × Q) Total costs (TC) Total fixed cost plus total variable cost; (TFC + TVC) Average fixed cost (AFC) Total fixed cost divided by quantity; (TFC ÷ Q) <span>Average variable cost (AVC) Total variable cost divided by quantity; (TVC ÷ Q) Average total cost (ATC) Total cost divided by quantity; (TC ÷ Q) or (AFC + AVC) Marginal cost (MC) Change in total cost divided by change in quantity; (∆TC ÷ ∆Q<span><body></h

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3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
umber of time periods). For example, average revenue is calculated by dividing total revenue by the number of items sold. To calculate a marginal term, take the change in the total and divide by the change in the quantity number. <span>Exhibit 3 shows a summary of the terminology and formulas pertaining to profit maximization, where profit is defined as total revenue minus total economic costs. Note that the definition of profit is the economic version, which recognizes that the implicit opportunity costs of equity capital, in addition to explicit accounting costs, are economic costs. The first main category consists of terms pertaining to the revenue side of the profit equation: total revenue, average revenue, and marginal revenue. Cost terms follow with an overview of the different types of costs—total, average, and marginal. Exhibit 3. Summary of Profit, Revenue, and Cost Terms Term Calculation Profit (Economic) profit Total revenue minus total economic cost; (TR – TC) Revenue Total revenue (TR) Price times quantity (P × Q), or the sum of individual units sold times their respective prices; ∑(P i × Q i ) Average revenue (AR) Total revenue divided by quantity; (TR ÷ Q) Marginal revenue (MR) Change in total revenue divided by change in quantity; (∆TR ÷ ∆Q) Costs Total fixed cost (TFC) Sum of all fixed expenses; here defined to include all opportunity costs Total variable cost (TVC) Sum of all variable expenses, or per unit variable cost times quantity; (per unit VC × Q) Total costs (TC) Total fixed cost plus total variable cost; (TFC + TVC) Average fixed cost (AFC) Total fixed cost divided by quantity; (TFC ÷ Q) Average variable cost (AVC) Total variable cost divided by quantity; (TVC ÷ Q) Average total cost (ATC) Total cost divided by quantity; (TC ÷ Q) or (AFC + AVC) Marginal cost (MC) Change in total cost divided by change in quantity; (∆TC ÷ ∆Q) 3.1. Profit Maximization In free markets—and even in regulated market economies—profit maximization tends to promote economic welfare and a hig




#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Average total cost (ATC)Total cost divided by quantity; (TC ÷ Q) or (AFC + AVC)
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(per unit VC × Q) Total costs (TC) Total fixed cost plus total variable cost; (TFC + TVC) Average fixed cost (AFC) Total fixed cost divided by quantity; (TFC ÷ Q) Average variable cost (AVC) Total variable cost divided by quantity; (TVC ÷ Q) <span>Average total cost (ATC) Total cost divided by quantity; (TC ÷ Q) or (AFC + AVC) Marginal cost (MC) Change in total cost divided by change in quantity; (∆TC ÷ ∆Q<span><body><html>

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3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
umber of time periods). For example, average revenue is calculated by dividing total revenue by the number of items sold. To calculate a marginal term, take the change in the total and divide by the change in the quantity number. <span>Exhibit 3 shows a summary of the terminology and formulas pertaining to profit maximization, where profit is defined as total revenue minus total economic costs. Note that the definition of profit is the economic version, which recognizes that the implicit opportunity costs of equity capital, in addition to explicit accounting costs, are economic costs. The first main category consists of terms pertaining to the revenue side of the profit equation: total revenue, average revenue, and marginal revenue. Cost terms follow with an overview of the different types of costs—total, average, and marginal. Exhibit 3. Summary of Profit, Revenue, and Cost Terms Term Calculation Profit (Economic) profit Total revenue minus total economic cost; (TR – TC) Revenue Total revenue (TR) Price times quantity (P × Q), or the sum of individual units sold times their respective prices; ∑(P i × Q i ) Average revenue (AR) Total revenue divided by quantity; (TR ÷ Q) Marginal revenue (MR) Change in total revenue divided by change in quantity; (∆TR ÷ ∆Q) Costs Total fixed cost (TFC) Sum of all fixed expenses; here defined to include all opportunity costs Total variable cost (TVC) Sum of all variable expenses, or per unit variable cost times quantity; (per unit VC × Q) Total costs (TC) Total fixed cost plus total variable cost; (TFC + TVC) Average fixed cost (AFC) Total fixed cost divided by quantity; (TFC ÷ Q) Average variable cost (AVC) Total variable cost divided by quantity; (TVC ÷ Q) Average total cost (ATC) Total cost divided by quantity; (TC ÷ Q) or (AFC + AVC) Marginal cost (MC) Change in total cost divided by change in quantity; (∆TC ÷ ∆Q) 3.1. Profit Maximization In free markets—and even in regulated market economies—profit maximization tends to promote economic welfare and a hig




#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Marginal cost (MC)Change in total cost divided by change in quantity; (∆TC ÷ ∆Q
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FC + TVC) Average fixed cost (AFC) Total fixed cost divided by quantity; (TFC ÷ Q) Average variable cost (AVC) Total variable cost divided by quantity; (TVC ÷ Q) Average total cost (ATC) Total cost divided by quantity; (TC ÷ Q) or (AFC + AVC) <span>Marginal cost (MC) Change in total cost divided by change in quantity; (∆TC ÷ ∆Q<span><body><html>

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3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
umber of time periods). For example, average revenue is calculated by dividing total revenue by the number of items sold. To calculate a marginal term, take the change in the total and divide by the change in the quantity number. <span>Exhibit 3 shows a summary of the terminology and formulas pertaining to profit maximization, where profit is defined as total revenue minus total economic costs. Note that the definition of profit is the economic version, which recognizes that the implicit opportunity costs of equity capital, in addition to explicit accounting costs, are economic costs. The first main category consists of terms pertaining to the revenue side of the profit equation: total revenue, average revenue, and marginal revenue. Cost terms follow with an overview of the different types of costs—total, average, and marginal. Exhibit 3. Summary of Profit, Revenue, and Cost Terms Term Calculation Profit (Economic) profit Total revenue minus total economic cost; (TR – TC) Revenue Total revenue (TR) Price times quantity (P × Q), or the sum of individual units sold times their respective prices; ∑(P i × Q i ) Average revenue (AR) Total revenue divided by quantity; (TR ÷ Q) Marginal revenue (MR) Change in total revenue divided by change in quantity; (∆TR ÷ ∆Q) Costs Total fixed cost (TFC) Sum of all fixed expenses; here defined to include all opportunity costs Total variable cost (TVC) Sum of all variable expenses, or per unit variable cost times quantity; (per unit VC × Q) Total costs (TC) Total fixed cost plus total variable cost; (TFC + TVC) Average fixed cost (AFC) Total fixed cost divided by quantity; (TFC ÷ Q) Average variable cost (AVC) Total variable cost divided by quantity; (TVC ÷ Q) Average total cost (ATC) Total cost divided by quantity; (TC ÷ Q) or (AFC + AVC) Marginal cost (MC) Change in total cost divided by change in quantity; (∆TC ÷ ∆Q) 3.1. Profit Maximization In free markets—and even in regulated market economies—profit maximization tends to promote economic welfare and a hig




Flashcard 1435799522572

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#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question
Total variable cost (TVC)[...], or [...]
Answer
Sum of all variable expenses

per unit variable cost times quantity; (per unit VC × Q)

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Total variable cost (TVC)Sum of all variable expenses, or per unit variable cost times quantity; (per unit VC × Q)

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3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
umber of time periods). For example, average revenue is calculated by dividing total revenue by the number of items sold. To calculate a marginal term, take the change in the total and divide by the change in the quantity number. <span>Exhibit 3 shows a summary of the terminology and formulas pertaining to profit maximization, where profit is defined as total revenue minus total economic costs. Note that the definition of profit is the economic version, which recognizes that the implicit opportunity costs of equity capital, in addition to explicit accounting costs, are economic costs. The first main category consists of terms pertaining to the revenue side of the profit equation: total revenue, average revenue, and marginal revenue. Cost terms follow with an overview of the different types of costs—total, average, and marginal. Exhibit 3. Summary of Profit, Revenue, and Cost Terms Term Calculation Profit (Economic) profit Total revenue minus total economic cost; (TR – TC) Revenue Total revenue (TR) Price times quantity (P × Q), or the sum of individual units sold times their respective prices; ∑(P i × Q i ) Average revenue (AR) Total revenue divided by quantity; (TR ÷ Q) Marginal revenue (MR) Change in total revenue divided by change in quantity; (∆TR ÷ ∆Q) Costs Total fixed cost (TFC) Sum of all fixed expenses; here defined to include all opportunity costs Total variable cost (TVC) Sum of all variable expenses, or per unit variable cost times quantity; (per unit VC × Q) Total costs (TC) Total fixed cost plus total variable cost; (TFC + TVC) Average fixed cost (AFC) Total fixed cost divided by quantity; (TFC ÷ Q) Average variable cost (AVC) Total variable cost divided by quantity; (TVC ÷ Q) Average total cost (ATC) Total cost divided by quantity; (TC ÷ Q) or (AFC + AVC) Marginal cost (MC) Change in total cost divided by change in quantity; (∆TC ÷ ∆Q) 3.1. Profit Maximization In free markets—and even in regulated market economies—profit maximization tends to promote economic welfare and a hig







Flashcard 1435801881868

Tags
#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question
Total costs (TC)[...]
Answer
Total fixed cost plus total variable cost; (TFC + TVC)

statusnot learnedmeasured difficulty37% [default]last interval [days]               
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Total costs (TC)Total fixed cost plus total variable cost; (TFC + TVC)

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3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
umber of time periods). For example, average revenue is calculated by dividing total revenue by the number of items sold. To calculate a marginal term, take the change in the total and divide by the change in the quantity number. <span>Exhibit 3 shows a summary of the terminology and formulas pertaining to profit maximization, where profit is defined as total revenue minus total economic costs. Note that the definition of profit is the economic version, which recognizes that the implicit opportunity costs of equity capital, in addition to explicit accounting costs, are economic costs. The first main category consists of terms pertaining to the revenue side of the profit equation: total revenue, average revenue, and marginal revenue. Cost terms follow with an overview of the different types of costs—total, average, and marginal. Exhibit 3. Summary of Profit, Revenue, and Cost Terms Term Calculation Profit (Economic) profit Total revenue minus total economic cost; (TR – TC) Revenue Total revenue (TR) Price times quantity (P × Q), or the sum of individual units sold times their respective prices; ∑(P i × Q i ) Average revenue (AR) Total revenue divided by quantity; (TR ÷ Q) Marginal revenue (MR) Change in total revenue divided by change in quantity; (∆TR ÷ ∆Q) Costs Total fixed cost (TFC) Sum of all fixed expenses; here defined to include all opportunity costs Total variable cost (TVC) Sum of all variable expenses, or per unit variable cost times quantity; (per unit VC × Q) Total costs (TC) Total fixed cost plus total variable cost; (TFC + TVC) Average fixed cost (AFC) Total fixed cost divided by quantity; (TFC ÷ Q) Average variable cost (AVC) Total variable cost divided by quantity; (TVC ÷ Q) Average total cost (ATC) Total cost divided by quantity; (TC ÷ Q) or (AFC + AVC) Marginal cost (MC) Change in total cost divided by change in quantity; (∆TC ÷ ∆Q) 3.1. Profit Maximization In free markets—and even in regulated market economies—profit maximization tends to promote economic welfare and a hig







Flashcard 1435803454732

Tags
#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question
Average fixed cost (AFC)[...]
Answer
Total fixed cost divided by quantity; (TFC ÷ Q)

statusnot learnedmeasured difficulty37% [default]last interval [days]               
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scheduled repetition interval               last repetition or drill

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Average fixed cost (AFC)Total fixed cost divided by quantity; (TFC ÷ Q)

Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
umber of time periods). For example, average revenue is calculated by dividing total revenue by the number of items sold. To calculate a marginal term, take the change in the total and divide by the change in the quantity number. <span>Exhibit 3 shows a summary of the terminology and formulas pertaining to profit maximization, where profit is defined as total revenue minus total economic costs. Note that the definition of profit is the economic version, which recognizes that the implicit opportunity costs of equity capital, in addition to explicit accounting costs, are economic costs. The first main category consists of terms pertaining to the revenue side of the profit equation: total revenue, average revenue, and marginal revenue. Cost terms follow with an overview of the different types of costs—total, average, and marginal. Exhibit 3. Summary of Profit, Revenue, and Cost Terms Term Calculation Profit (Economic) profit Total revenue minus total economic cost; (TR – TC) Revenue Total revenue (TR) Price times quantity (P × Q), or the sum of individual units sold times their respective prices; ∑(P i × Q i ) Average revenue (AR) Total revenue divided by quantity; (TR ÷ Q) Marginal revenue (MR) Change in total revenue divided by change in quantity; (∆TR ÷ ∆Q) Costs Total fixed cost (TFC) Sum of all fixed expenses; here defined to include all opportunity costs Total variable cost (TVC) Sum of all variable expenses, or per unit variable cost times quantity; (per unit VC × Q) Total costs (TC) Total fixed cost plus total variable cost; (TFC + TVC) Average fixed cost (AFC) Total fixed cost divided by quantity; (TFC ÷ Q) Average variable cost (AVC) Total variable cost divided by quantity; (TVC ÷ Q) Average total cost (ATC) Total cost divided by quantity; (TC ÷ Q) or (AFC + AVC) Marginal cost (MC) Change in total cost divided by change in quantity; (∆TC ÷ ∆Q) 3.1. Profit Maximization In free markets—and even in regulated market economies—profit maximization tends to promote economic welfare and a hig







Flashcard 1435805027596

Tags
#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question
Average variable cost (AVC)[...]
Answer
Total variable cost divided by quantity; (TVC ÷ Q)

statusnot learnedmeasured difficulty37% [default]last interval [days]               
repetition number in this series0memorised on               scheduled repetition               
scheduled repetition interval               last repetition or drill

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Average variable cost (AVC)Total variable cost divided by quantity; (TVC ÷ Q)

Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
umber of time periods). For example, average revenue is calculated by dividing total revenue by the number of items sold. To calculate a marginal term, take the change in the total and divide by the change in the quantity number. <span>Exhibit 3 shows a summary of the terminology and formulas pertaining to profit maximization, where profit is defined as total revenue minus total economic costs. Note that the definition of profit is the economic version, which recognizes that the implicit opportunity costs of equity capital, in addition to explicit accounting costs, are economic costs. The first main category consists of terms pertaining to the revenue side of the profit equation: total revenue, average revenue, and marginal revenue. Cost terms follow with an overview of the different types of costs—total, average, and marginal. Exhibit 3. Summary of Profit, Revenue, and Cost Terms Term Calculation Profit (Economic) profit Total revenue minus total economic cost; (TR – TC) Revenue Total revenue (TR) Price times quantity (P × Q), or the sum of individual units sold times their respective prices; ∑(P i × Q i ) Average revenue (AR) Total revenue divided by quantity; (TR ÷ Q) Marginal revenue (MR) Change in total revenue divided by change in quantity; (∆TR ÷ ∆Q) Costs Total fixed cost (TFC) Sum of all fixed expenses; here defined to include all opportunity costs Total variable cost (TVC) Sum of all variable expenses, or per unit variable cost times quantity; (per unit VC × Q) Total costs (TC) Total fixed cost plus total variable cost; (TFC + TVC) Average fixed cost (AFC) Total fixed cost divided by quantity; (TFC ÷ Q) Average variable cost (AVC) Total variable cost divided by quantity; (TVC ÷ Q) Average total cost (ATC) Total cost divided by quantity; (TC ÷ Q) or (AFC + AVC) Marginal cost (MC) Change in total cost divided by change in quantity; (∆TC ÷ ∆Q) 3.1. Profit Maximization In free markets—and even in regulated market economies—profit maximization tends to promote economic welfare and a hig







Flashcard 1435806600460

Tags
#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question
Average total cost (ATC)[...]
Answer
Total cost divided by quantity; (TC ÷ Q) or (AFC + AVC)

statusnot learnedmeasured difficulty37% [default]last interval [days]               
repetition number in this series0memorised on               scheduled repetition               
scheduled repetition interval               last repetition or drill

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Average total cost (ATC)Total cost divided by quantity; (TC ÷ Q) or (AFC + AVC)

Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
umber of time periods). For example, average revenue is calculated by dividing total revenue by the number of items sold. To calculate a marginal term, take the change in the total and divide by the change in the quantity number. <span>Exhibit 3 shows a summary of the terminology and formulas pertaining to profit maximization, where profit is defined as total revenue minus total economic costs. Note that the definition of profit is the economic version, which recognizes that the implicit opportunity costs of equity capital, in addition to explicit accounting costs, are economic costs. The first main category consists of terms pertaining to the revenue side of the profit equation: total revenue, average revenue, and marginal revenue. Cost terms follow with an overview of the different types of costs—total, average, and marginal. Exhibit 3. Summary of Profit, Revenue, and Cost Terms Term Calculation Profit (Economic) profit Total revenue minus total economic cost; (TR – TC) Revenue Total revenue (TR) Price times quantity (P × Q), or the sum of individual units sold times their respective prices; ∑(P i × Q i ) Average revenue (AR) Total revenue divided by quantity; (TR ÷ Q) Marginal revenue (MR) Change in total revenue divided by change in quantity; (∆TR ÷ ∆Q) Costs Total fixed cost (TFC) Sum of all fixed expenses; here defined to include all opportunity costs Total variable cost (TVC) Sum of all variable expenses, or per unit variable cost times quantity; (per unit VC × Q) Total costs (TC) Total fixed cost plus total variable cost; (TFC + TVC) Average fixed cost (AFC) Total fixed cost divided by quantity; (TFC ÷ Q) Average variable cost (AVC) Total variable cost divided by quantity; (TVC ÷ Q) Average total cost (ATC) Total cost divided by quantity; (TC ÷ Q) or (AFC + AVC) Marginal cost (MC) Change in total cost divided by change in quantity; (∆TC ÷ ∆Q) 3.1. Profit Maximization In free markets—and even in regulated market economies—profit maximization tends to promote economic welfare and a hig







Flashcard 1435808173324

Tags
#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question
Marginal cost (MC)[...]
Answer
Change in total cost divided by change in quantity; (∆TC ÷ ∆Q

statusnot learnedmeasured difficulty37% [default]last interval [days]               
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Marginal cost (MC)Change in total cost divided by change in quantity; (∆TC ÷ ∆Q

Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
umber of time periods). For example, average revenue is calculated by dividing total revenue by the number of items sold. To calculate a marginal term, take the change in the total and divide by the change in the quantity number. <span>Exhibit 3 shows a summary of the terminology and formulas pertaining to profit maximization, where profit is defined as total revenue minus total economic costs. Note that the definition of profit is the economic version, which recognizes that the implicit opportunity costs of equity capital, in addition to explicit accounting costs, are economic costs. The first main category consists of terms pertaining to the revenue side of the profit equation: total revenue, average revenue, and marginal revenue. Cost terms follow with an overview of the different types of costs—total, average, and marginal. Exhibit 3. Summary of Profit, Revenue, and Cost Terms Term Calculation Profit (Economic) profit Total revenue minus total economic cost; (TR – TC) Revenue Total revenue (TR) Price times quantity (P × Q), or the sum of individual units sold times their respective prices; ∑(P i × Q i ) Average revenue (AR) Total revenue divided by quantity; (TR ÷ Q) Marginal revenue (MR) Change in total revenue divided by change in quantity; (∆TR ÷ ∆Q) Costs Total fixed cost (TFC) Sum of all fixed expenses; here defined to include all opportunity costs Total variable cost (TVC) Sum of all variable expenses, or per unit variable cost times quantity; (per unit VC × Q) Total costs (TC) Total fixed cost plus total variable cost; (TFC + TVC) Average fixed cost (AFC) Total fixed cost divided by quantity; (TFC ÷ Q) Average variable cost (AVC) Total variable cost divided by quantity; (TVC ÷ Q) Average total cost (ATC) Total cost divided by quantity; (TC ÷ Q) or (AFC + AVC) Marginal cost (MC) Change in total cost divided by change in quantity; (∆TC ÷ ∆Q) 3.1. Profit Maximization In free markets—and even in regulated market economies—profit maximization tends to promote economic welfare and a hig







Article 1435809746188

Prevén mayor inflación por gasolinazo
#27-dic-2016 #mural #noticias

Un incremento en los precios de la gasolina de entre 15 y 20 por ciento podría tener un efecto de crecimiento en la inflación de hasta 1.2 puntos porcentuales, según la Escuela de Negocios del Tec de Monterrey, campus Santa Fe. "No se nos olvide que todos se transportan y también se transportan las mercancías: alimentos, electrodomésticos, consumibles y a eso se suman los pasajeros", explicó Raymundo Tenorio, director de las carreras de Economía de ese centro. En la primera quincena de diciembre, la tasa de inflación anual se ubicó en 3.48 por ciento. Para el consumidor esto tendrá un impacto directo en su gasto, es decir, con el incremento la proporción del ingreso destinado a transporte tendrá un aumento proporcional y a medida que se ajusten los precios de producción también habrá un incremento. Por nivel de ingreso, según estimó Tenorio, la mayor afectación será para quienes estén en el decil cuatro hacia arriba (ingreso corriente promedio trimestral a partir de 20 mil 675 pesos por ho



#27-dic-2016 #mural #noticias
Un incremento en los precios de la gasolina de entre 15 y 20 por ciento podría tener un efecto de crecimiento en la inflación de hasta 1.2 puntos porcentuales, según la Escuela de Negocios del Tec de Monterrey, campus Santa Fe.
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Prevén mayor inflación por gasolinazo
Un incremento en los precios de la gasolina de entre 15 y 20 por ciento podría tener un efecto de crecimiento en la inflación de hasta 1.2 puntos porcentuales, según la Escuela de Negocios del Tec de Monterrey, campus Santa Fe. "No se nos olvide que todos se transportan y también se transportan las mercancías: alimentos, electrodomésticos, consumibles y a eso se suman los pasajeros", exp




#27-dic-2016 #mural #noticias
En la primera quincena de diciembre, la tasa de inflación anual se ubicó en 3.48 por ciento.
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Prevén mayor inflación por gasolinazo
lvide que todos se transportan y también se transportan las mercancías: alimentos, electrodomésticos, consumibles y a eso se suman los pasajeros", explicó Raymundo Tenorio, director de las carreras de Economía de ese centro. <span>En la primera quincena de diciembre, la tasa de inflación anual se ubicó en 3.48 por ciento. Para el consumidor esto tendrá un impacto directo en su gasto, es decir, con el incremento la proporción del ingreso destinado a transporte tendrá un aumento proporcional y




#27-dic-2016 #mural #noticias

la gasolina se grava con varios impuestos.

El primero es el Impuesto Especial sobre Productos y Servicios (IEPS), que tiene una cuota fija de 4.16 pesos, luego el IVA, que se cobra sobre el precio final de la gasolina y ese incrementa según el tamaño de la venta, y finalmente los derechos que se cobran según el estado.

"El componente de impuestos IEPS, IVA y derechos corresponde a 44 por ciento del precio del litro de la gasolina", puntualizó Tenorio.

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Prevén mayor inflación por gasolinazo
os y por lo tanto demandan combustible. Asimismo, no es muy competitivo adquirir productos del exterior debido a la diferencia actual entre el peso y el dólar. Este incremento beneficiará a la recaudación tributaria, debido a que <span>la gasolina se grava con varios impuestos. El primero es el Impuesto Especial sobre Productos y Servicios (IEPS), que tiene una cuota fija de 4.16 pesos, luego el IVA, que se cobra sobre el precio final de la gasolina y ese incrementa según el tamaño de la venta, y finalmente los derechos que se cobran según el estado. "El componente de impuestos IEPS, IVA y derechos corresponde a 44 por ciento del precio del litro de la gasolina", puntualizó Tenorio. <span><body><html>




Flashcard 1435817086220

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-14-demand-and-supply-analysis-consumer-demand #section-3-utility-theory #study-session-4
Question
A model is a [...] of the real world phenomena we are trying to understand.
Answer
simplification

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A model is a simplification of the real world phenomena we are trying to understand.

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3. UTILITY THEORY: MODELING PREFERENCES AND TASTES
on, especially in cases of many complex options being offered to them. When we state these axioms, we are not saying that we believe them actually to be true in every instance, but we assume them for the sake of building a model. <span>A model is a simplification of the real world phenomena we are trying to understand. Necessarily, axioms must be at some level inaccurate and incomplete representations of the phenomena we are trying to model. If that were not the case, the “model” would not be a simpli







Flashcard 1435818921228

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-14-demand-and-supply-analysis-consumer-demand #section-3-utility-theory #study-session-4
Question
The MRSBW is the rate at which the consumer is willing to give up wine to obtain a small increment of bread while holding [...]
Answer
holding utility constant (i.e., movement along an indifference curve).

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The MRS BW is the rate at which the consumer is willing to give up wine to obtain a small increment of bread, holding utility constant (i.e., movement along an indifference curve).

Original toplevel document

3. UTILITY THEORY: MODELING PREFERENCES AND TASTES
in Exhibit 2 is characteristically drawn to be convex when viewed from the origin. This indicates that the willingness to give up wine to obtain a little more bread diminishes the more bread and the less wine the bundle contains. <span>We capture this willingness to give up one good to obtain a little more of the other in the phrase marginal rate of substitution of bread for wine, MRS BW . The MRS BW is the rate at which the consumer is willing to give up wine to obtain a small increment of bread, holding utility constant (i.e., movement along an indifference curve). Notice that the convexity implies that at a bundle like a′′, which contains rather a lot of wine and not much bread, the consumer would be willing to give up a considerable amount of wi







Flashcard 1435820756236

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-14-demand-and-supply-analysis-consumer-demand #section-3-utility-theory #study-session-4
Question
Because of the completeness assumption, there will be one indifference curve [...]
Answer
passing through every point in the set.

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Because of the completeness assumption, there will be one indifference curve passing through every point in the set.

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3. UTILITY THEORY: MODELING PREFERENCES AND TASTES
in Exhibit 3. Exhibit 3. An Indifference Curve Map Note: The indifference curve map represents the consumer’s utility function. Any curve above and to the right represents a higher level of utility. <span>Because of the completeness assumption, there will be one indifference curve passing through every point in the set. Because of the transitivity assumption, no two indifference curves for a given consumer can ever cross. Exhibit 4 shows why. If bundle a and bundle b lie on the same indifference curve,







Flashcard 1435822591244

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#cfa #cfa-level-1 #economics #has-images #microeconomics #reading-14-demand-and-supply-analysis-consumer-demand #section-3-utility-theory #study-session-4


Question
indifference curves will generally be [...] and [...] , and they cannot cross. These are the only restrictions we place on indifference curve maps.
Answer
strictly convex

negatively sloped

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indifference curves will generally be strictly convex and negatively sloped, and they cannot cross. These are the only restrictions we place on indifference curve maps.

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Indifference curves cannot touch
he same indifference curve, she must be indifferent between these two bundles as well. But because bundle c contains more of both wine and bread than bundle b, she must prefer c to b, which violates transitivity of preferences. So we see that <span>indifference curves will generally be strictly convex and negatively sloped, and they cannot cross. These are the only restrictions we place on indifference curve maps.<span><body><html>







Flashcard 1435824950540

Tags
#sister-miriam-joseph #trivium
Question
[...]: a system of symbols for expressing our thoughts, volitions, and emotions
Answer
Language

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Language: a system of symbols for expressing our thoughts, volitions, and emotions

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Flashcard 1435826523404

Tags
#italian #italian-grammar
Question
(present, past) Verbs normally have a [...] and a [...] .
Answer
present participle

past participle

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(present, past) Verbs normally have a present participle and a past participle. Unlike other (finite) verb forms, the participle cannot be used on its own but is found together with other verb forms. The past participle is used with the verb

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Flashcard 1435828882700

Tags
#italian #italian-grammar
Question
Unlike other (finite) verb forms, the participle cannot be [...] but is found [...]
Answer
used on its own

together with other verb forms.

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(present, past) Verbs normally have a present participle and a past participle. Unlike other (finite) verb forms, the participle cannot be used on its own but is found together with other verb forms. The past participle is used with the verb avere or essere to form the passato prossimo tense: non abbiamo mangiato

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Flashcard 1435831241996

Tags
#27-dic-2016 #mural #noticias
Question
En la primera quincena de diciembre, la tasa de inflación anual se ubicó en [...] por ciento.
Answer
3.48

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En la primera quincena de diciembre, la tasa de inflación anual se ubicó en 3.48 por ciento.

Original toplevel document

Prevén mayor inflación por gasolinazo
lvide que todos se transportan y también se transportan las mercancías: alimentos, electrodomésticos, consumibles y a eso se suman los pasajeros", explicó Raymundo Tenorio, director de las carreras de Economía de ese centro. <span>En la primera quincena de diciembre, la tasa de inflación anual se ubicó en 3.48 por ciento. Para el consumidor esto tendrá un impacto directo en su gasto, es decir, con el incremento la proporción del ingreso destinado a transporte tendrá un aumento proporcional y







Flashcard 1435832814860

Tags
#italian #italian-grammar
Question
The [...] is used with the verb avere or essere to form the passato prossimo tense: non abbiamo mangiato gli hamburgers ‘we didn’t eat hamburgers’.
Answer
past participle

When used with essere, it agrees with the subject: nel 2004 siamo andati a Los Angeles ‘in 2004 we went to Los Angeles’.

The present participle, less frequently used, changes form when used as an adjective i . . . cantanti.

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(present, past) Verbs normally have a present participle and a past participle. Unlike other (finite) verb forms, the participle cannot be used on its own but is found together with other verb forms. The past participle is used with the verb avere or essere to form the passato prossimo tense: non abbiamo mangiato gli hamburgers ‘we didn’t eat hamburgers’. When used with essere, it agrees with the subje

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Article 1435877903628

Precios de gasolinas subirán hasta 20% a partir de enero
#28-dic-2016 #el-financiero #noticias

Los precios máximos de los combustibles por región marcan incrementos de 14.2% para la Magna, de 20.1% para la Premium, y de 16.5% del diésel. Pese a esto, autoridades señalan que se mantendrá abajo del promedio mundial. La Secretaría de Hacienda anunció un incremento de hasta más de 20 por ciento a los precios máximos regionales para la gasolina, que estarán vigentes del 1 de enero al 3 de febrero de 2017. En un comunicado, aseguró que el país estará dividido en 83 regiones y siete más en la frontera norte, en las cuales habrán precios máximos que serán modificados el 4 y 11 de febrero, para que el día 18 de ese mes comiencen a cambiar cada hora. Así, el precio promedio máximo en el país de la gasolina Magna será de 15.99 pesos por litro, de la Premium 17.79 pesos por litro y de 17.05 pesos para el litro de diésel. “Estos precios máximos representan incrementos para las gasolinas Magna, Premium y el diésel de 14.2 por ciento, 20.1 por ciento y 16.5 por ciento respectivamente, con respecto al



#28-dic-2016 #el-financiero #noticias
Los precios máximos de los combustibles por región marcan incrementos de 14.2% para la Magna, de 20.1% para la Premium, y de 16.5% del diésel. Pese a esto, autoridades señalan que se mantendrá abajo del promedio mundial.
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Precios de gasolinas subirán hasta 20% a partir de enero
Los precios máximos de los combustibles por región marcan incrementos de 14.2% para la Magna, de 20.1% para la Premium, y de 16.5% del diésel. Pese a esto, autoridades señalan que se mantendrá abajo del promedio mundial. La Secretaría de Hacienda anunció un incremento de hasta más de 20 por ciento a los precios máximos regionales para la gasolina, que estarán vigentes del 1 de enero al




#28-dic-2016 #el-financiero #noticias
“El incremento responde al aumento en los precios internacionales de los combustibles y no implica ninguna modificación o creación de impuestos”
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Precios de gasolinas subirán hasta 20% a partir de enero
r ciento respectivamente, con respecto al precio máximo observado en diciembre de 2016”, dijo Hacienda. Sin embargo, contra enero de este año los incrementos se disparan a 21.5, 27.2 y 23.8 por ciento, en el mismo orden. <span>“El incremento responde al aumento en los precios internacionales de los combustibles y no implica ninguna modificación o creación de impuestos”, detalló. DE LOS MÁS BAJOS Aún con el aumento, el promedio a nivel nacional que se pagará por un litro de combustible está por debajo de la media mundial que es de 22.38




Flashcard 1435881311500

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#28-dic-2016 #el-financiero #noticias
Question
“El incremento responde al aumento en [...] de los combustibles y no implica ninguna modificación o creación de impuestos”
Answer
los precios internacionales

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“El incremento responde al aumento en los precios internacionales de los combustibles y no implica ninguna modificación o creación de impuestos”

Original toplevel document

Precios de gasolinas subirán hasta 20% a partir de enero
r ciento respectivamente, con respecto al precio máximo observado en diciembre de 2016”, dijo Hacienda. Sin embargo, contra enero de este año los incrementos se disparan a 21.5, 27.2 y 23.8 por ciento, en el mismo orden. <span>“El incremento responde al aumento en los precios internacionales de los combustibles y no implica ninguna modificación o creación de impuestos”, detalló. DE LOS MÁS BAJOS Aún con el aumento, el promedio a nivel nacional que se pagará por un litro de combustible está por debajo de la media mundial que es de 22.38







Flashcard 1435882884364

Tags
#28-dic-2016 #el-financiero #noticias
Question
Los precios máximos de los combustibles por región marcan incrementos de [...] para la Magna, de 20.1% para la Premium, y de 16.5% del diésel. Pese a esto, autoridades señalan que se mantendrá abajo del promedio mundial.
Answer
14.2%

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Los precios máximos de los combustibles por región marcan incrementos de 14.2% para la Magna, de 20.1% para la Premium, y de 16.5% del diésel. Pese a esto, autoridades señalan que se mantendrá abajo del promedio mundial.

Original toplevel document

Precios de gasolinas subirán hasta 20% a partir de enero
Los precios máximos de los combustibles por región marcan incrementos de 14.2% para la Magna, de 20.1% para la Premium, y de 16.5% del diésel. Pese a esto, autoridades señalan que se mantendrá abajo del promedio mundial. La Secretaría de Hacienda anunció un incremento de hasta más de 20 por ciento a los precios máximos regionales para la gasolina, que estarán vigentes del 1 de enero al







Flashcard 1435884457228

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#28-dic-2016 #el-financiero #noticias
Question
Los precios máximos de los combustibles por región marcan incrementos de 14.2% para la Magna, de [...] para la Premium, y de 16.5% del diésel. Pese a esto, autoridades señalan que se mantendrá abajo del promedio mundial.
Answer
20.1%

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Los precios máximos de los combustibles por región marcan incrementos de 14.2% para la Magna, de 20.1% para la Premium, y de 16.5% del diésel. Pese a esto, autoridades señalan que se mantendrá abajo del promedio mundial.

Original toplevel document

Precios de gasolinas subirán hasta 20% a partir de enero
Los precios máximos de los combustibles por región marcan incrementos de 14.2% para la Magna, de 20.1% para la Premium, y de 16.5% del diésel. Pese a esto, autoridades señalan que se mantendrá abajo del promedio mundial. La Secretaría de Hacienda anunció un incremento de hasta más de 20 por ciento a los precios máximos regionales para la gasolina, que estarán vigentes del 1 de enero al







Article 1435886030092

Hacienda pide no asustarse por el precio de la gasolina
#28-dic-2016 #el-financiero #noticias

José Antonio Meade, secretario de Hacienda, dijo que habrá veces que el precio de la gasolina suba y habrá veces que baje, como se vayan ajustando las condiciones de mercado. El secretario de Hacienda, José Antonio Meade, dijo este martes que los mexicanos no tienen por qué asustarse, pues el precio de la gasolina se va “divorciar” de razones tributarias o de razones políticas Además el precio va subir o bajar de acuerdo con los mercados internacionales como en todo América, Europa y todo Asia Pacífico. “De hecho, en la historia del país, la gasolina, prácticamente con excepción de algunos meses del año pasado, solamente se había subido y nunca había reflejado una condición a la baja. Y lo que veremos ahorita, a partir del próximo año, es que la gasolina habrá veces que suba y habrá veces que baje, como se vayan ajustando las condiciones de mercado”, comentó en entrevista con Grupo Fórmula. “Veremos, en consecuencia, momentos y días donde suba, y momentos y días donde vuelva a bajar”, agregó.



Article 1435887602956

Para entender el gasolinazo
#28-dic-2016 #el-financiero #noticias #victor-piz

Los precios de las gasolinas que estarán vigentes del 1 de enero al 3 de febrero se incrementarán sustancialmente con respecto a los observados en diciembre de 2016. El precio promedio de la gasolina Magna –la de mayor consumo en el país– durante enero será 14.4 por ciento superior al observado en diciembre, según lo informado ayer por la Secretaría de Hacienda. En los primeros 34 días de 2017, el precio máximo de la gasolina Magna se ubicará en 15.99 pesos el litro, frente a los 13.98 actuales. El de la Premium pasará de 14.81 a 17.79 pesos, un incremento de 20.1 por ciento. Se trata del mayor ajuste de golpe a los precios de los combustibles automotrices en dos décadas. El presidente Enrique Peña propuso en septiembre de este año adelantar a partir de enero de 2017 la liberalización del precio de las gasolinas y del diésel. La Comisión Reguladora de Energía, tomando en cuenta la opinión de la Comisión Federal de Competencia Económica, emitió la semana pasada el cronograma de flexibilizació



#28-dic-2016 #el-financiero #noticias #victor-piz
Se trata del mayor ajuste de golpe a los precios de los combustibles automotrices en dos décadas.
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Para entender el gasolinazo
3; En los primeros 34 días de 2017, el precio máximo de la gasolina Magna se ubicará en 15.99 pesos el litro, frente a los 13.98 actuales. El de la Premium pasará de 14.81 a 17.79 pesos, un incremento de 20.1 por ciento. <span>Se trata del mayor ajuste de golpe a los precios de los combustibles automotrices en dos décadas. El presidente Enrique Peña propuso en septiembre de este año adelantar a partir de enero de 2017 la liberalización del precio de las gasolinas y del diésel. La Com




Flashcard 1435889962252

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#28-dic-2016 #el-financiero #noticias #victor-piz
Question
Se trata del mayor ajuste de golpe a los precios de los combustibles automotrices en [...]
Answer
dos décadas.

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Se trata del mayor ajuste de golpe a los precios de los combustibles automotrices en dos décadas.

Original toplevel document

Para entender el gasolinazo
3; En los primeros 34 días de 2017, el precio máximo de la gasolina Magna se ubicará en 15.99 pesos el litro, frente a los 13.98 actuales. El de la Premium pasará de 14.81 a 17.79 pesos, un incremento de 20.1 por ciento. <span>Se trata del mayor ajuste de golpe a los precios de los combustibles automotrices en dos décadas. El presidente Enrique Peña propuso en septiembre de este año adelantar a partir de enero de 2017 la liberalización del precio de las gasolinas y del diésel. La Com







Article 1435891535116

Alza en gasolina ‘inyecta energía’ a los Udibonos
#28-dic-2016 #el-financiero #noticias

El anuncio de Hacienda detonó una mayor demanda por notas ligadas a la inflación en todos sus plazos, pero principalmente en los menores a 12 años La expectativa de una mayor inflación, derivada de los incrementos en los precios de la gasolina a partir de enero, disparó la demanda por Udibonos en todos sus plazos, al ser utilizados como instrumentos de cobertura frente a mayores precios. El Udibono con vencimiento en diciembre de 2025, el plazo más negociado, cerró ayer en un precio de 111.86 pesos, es decir, con un aumento en el día de 1.42 por ciento, mientras que su rendimiento bajó de 3.18 a 2.99 por ciento, según datos de Bloomberg. En el mercado primario también se reflejó un mayor apetito por estos instrumentos, pues en la subasta de valores gubernamentales realizada ayer a las 11:30 horas, después del anuncio del gasolinazo, la tasa del Udibono a 10 años se reportó con un rendimiento de 3.0 por ciento, inferior al 3.35 de la subasta primaria anterior. Dicho comportamiento refleja q



#28-dic-2016 #el-financiero #noticias
El anuncio de Hacienda (aumento en gasolina) detonó una mayor demanda por notas ligadas a la inflación en todos sus plazos, pero principalmente en los menores a 12 años
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Alza en gasolina ‘inyecta energía’ a los Udibonos
El anuncio de Hacienda detonó una mayor demanda por notas ligadas a la inflación en todos sus plazos, pero principalmente en los menores a 12 años La expectativa de una mayor inflación, derivada de los incrementos en los precios de la gasolina a partir de enero, disparó la demanda por Udibonos en todos sus pla




Flashcard 1435894680844

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#28-dic-2016 #el-financiero #noticias
Question
El anuncio de Hacienda (aumento en gasolina) detonó una mayor demanda por [...] en todos sus plazos, pero principalmente en los menores a 12 años
Answer
notas ligadas a la inflación (Udibonos)

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El anuncio de Hacienda (aumento en gasolina) detonó una mayor demanda por notas ligadas a la inflación en todos sus plazos, pero principalmente en los menores a 12 años

Original toplevel document

Alza en gasolina ‘inyecta energía’ a los Udibonos
El anuncio de Hacienda detonó una mayor demanda por notas ligadas a la inflación en todos sus plazos, pero principalmente en los menores a 12 años La expectativa de una mayor inflación, derivada de los incrementos en los precios de la gasolina a partir de enero, disparó la demanda por Udibonos en todos sus pla







Article 1435902020876

Mexico - Project Financing
#eximbank #export-dot-gov #octopus #usa

Includes how major projects are financed and gives examples where relevant. Explains activities of the multilateral development banks in and other aid-funded projects where procurement is open to U.S. bidders. Last Published: 10/4/2016 Includes how major projects are financed and gives examples where relevant. Explains activities of the multilateral development banks in and other aid-funded projects where procurement is open to U.S. bidders. For large infrastructure projects, a number of financing instruments are available. Project consortiums often develop a finance mix between development banks, multilaterals, commercial banks, and national export credit agencies, such as the U.S. Export-Import Bank. U.S. Export-Import Bank (http://www.exim.gov) The Export-Import Bank of the United States (Ex-Im Bank), an independent agency of the federal government, offers various short-, medium- and long-term export finance and insurance programs. Of specific interest to U.S. exporters are the gu



#eximbank #export-dot-gov #octopus #usa
For large infrastructure projects, a number of financing instruments are available. Project consortiums often develop a finance mix between development banks, multilaterals, commercial banks, and national export credit agencies, such as the U.S. Export-Import Bank.
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Mexico - Project Financing
0/4/2016 Includes how major projects are financed and gives examples where relevant. Explains activities of the multilateral development banks in and other aid-funded projects where procurement is open to U.S. bidders. <span>For large infrastructure projects, a number of financing instruments are available. Project consortiums often develop a finance mix between development banks, multilaterals, commercial banks, and national export credit agencies, such as the U.S. Export-Import Bank. U.S. Export-Import Bank (http://www.exim.gov) The Export-Import Bank of the United States (Ex-Im Bank), an independent agency of the federal government, o




Flashcard 1435905166604

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#eximbank #export-dot-gov #octopus #usa
Question
For large infrastructure projects, a number of financing instruments are available. Project consortiums often develop a finance mix between [...], multilaterals, commercial banks, and national export credit agencies, such as the U.S. Export-Import Bank.
Answer
development banks

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For large infrastructure projects, a number of financing instruments are available. Project consortiums often develop a finance mix between development banks, multilaterals, commercial banks, and national export credit agencies, such as the U.S. Export-Import Bank.

Original toplevel document

Mexico - Project Financing
0/4/2016 Includes how major projects are financed and gives examples where relevant. Explains activities of the multilateral development banks in and other aid-funded projects where procurement is open to U.S. bidders. <span>For large infrastructure projects, a number of financing instruments are available. Project consortiums often develop a finance mix between development banks, multilaterals, commercial banks, and national export credit agencies, such as the U.S. Export-Import Bank. U.S. Export-Import Bank (http://www.exim.gov) The Export-Import Bank of the United States (Ex-Im Bank), an independent agency of the federal government, o







#eximbank #export-dot-gov #octopus #usa
The Export-Import Bank of the United States (Ex-Im Bank), an independent agency of the federal government, offers various short-, medium- and long-term export finance and insurance programs. Of specific interest to U.S. exporters are the guarantees for medium-term loans to foreign buyers of capital equipment. Most loans are made by U.S. banks with Ex-Im Bank’s guarantee. More than 85 percent of Ex-Im’s transactions in recent years directly benefited small businesses.
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Mexico - Project Financing
ums often develop a finance mix between development banks, multilaterals, commercial banks, and national export credit agencies, such as the U.S. Export-Import Bank. U.S. Export-Import Bank (http://www.exim.gov) <span>The Export-Import Bank of the United States (Ex-Im Bank), an independent agency of the federal government, offers various short-, medium- and long-term export finance and insurance programs. Of specific interest to U.S. exporters are the guarantees for medium-term loans to foreign buyers of capital equipment. Most loans are made by U.S. banks with Ex-Im Bank’s guarantee. More than 85 percent of Ex-Im’s transactions in recent years directly benefited small businesses. Much of Ex-Im Bank’s activity is under so-called bundling facilities. A bundling facility is a large medium-term loan made to a Mexican bank by a U.S. bank with the guarante




Flashcard 1435907788044

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#eximbank #export-dot-gov #octopus #usa
Question
The Export-Import Bank of the United States (Ex-Im Bank), an [...], offers various short-, medium- and long-term export finance and insurance programs.
Answer
independent agency of the federal government

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The Export-Import Bank of the United States (Ex-Im Bank), an independent agency of the federal government, offers various short-, medium- and long-term export finance and insurance programs. Of specific interest to U.S. exporters are the guarantees for medium-term loans to foreign buyers of

Original toplevel document

Mexico - Project Financing
ums often develop a finance mix between development banks, multilaterals, commercial banks, and national export credit agencies, such as the U.S. Export-Import Bank. U.S. Export-Import Bank (http://www.exim.gov) <span>The Export-Import Bank of the United States (Ex-Im Bank), an independent agency of the federal government, offers various short-, medium- and long-term export finance and insurance programs. Of specific interest to U.S. exporters are the guarantees for medium-term loans to foreign buyers of capital equipment. Most loans are made by U.S. banks with Ex-Im Bank’s guarantee. More than 85 percent of Ex-Im’s transactions in recent years directly benefited small businesses. Much of Ex-Im Bank’s activity is under so-called bundling facilities. A bundling facility is a large medium-term loan made to a Mexican bank by a U.S. bank with the guarante







Flashcard 1435910147340

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#eximbank #export-dot-gov #octopus #usa
Question
The guarantees for [...] to [...] are of specific interest to U.S. exporters.
Answer
medium-term loans

foreign buyers of capital equipment

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span>The Export-Import Bank of the United States (Ex-Im Bank), an independent agency of the federal government, offers various short-, medium- and long-term export finance and insurance programs. Of specific interest to U.S. exporters are the <span>guarantees for medium-term loans to foreign buyers of capital equipment. Most loans are made by U.S. banks with Ex-Im Bank’s guarantee. More than 85 percent of Ex-Im’s transactions in recent years directly benefited small businesses.<span><body></h

Original toplevel document

Mexico - Project Financing
ums often develop a finance mix between development banks, multilaterals, commercial banks, and national export credit agencies, such as the U.S. Export-Import Bank. U.S. Export-Import Bank (http://www.exim.gov) <span>The Export-Import Bank of the United States (Ex-Im Bank), an independent agency of the federal government, offers various short-, medium- and long-term export finance and insurance programs. Of specific interest to U.S. exporters are the guarantees for medium-term loans to foreign buyers of capital equipment. Most loans are made by U.S. banks with Ex-Im Bank’s guarantee. More than 85 percent of Ex-Im’s transactions in recent years directly benefited small businesses. Much of Ex-Im Bank’s activity is under so-called bundling facilities. A bundling facility is a large medium-term loan made to a Mexican bank by a U.S. bank with the guarante







Flashcard 1435914865932

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#eximbank #export-dot-gov #octopus #usa
Question
More than 85 percent of Ex-Im’s transactions in recent years directly benefited [...]
Answer
small businesses.

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to U.S. exporters are the guarantees for medium-term loans to foreign buyers of capital equipment. Most loans are made by U.S. banks with Ex-Im Bank’s guarantee. More than 85 percent of Ex-Im’s transactions in recent years directly benefited <span>small businesses.<span><body><html>

Original toplevel document

Mexico - Project Financing
ums often develop a finance mix between development banks, multilaterals, commercial banks, and national export credit agencies, such as the U.S. Export-Import Bank. U.S. Export-Import Bank (http://www.exim.gov) <span>The Export-Import Bank of the United States (Ex-Im Bank), an independent agency of the federal government, offers various short-, medium- and long-term export finance and insurance programs. Of specific interest to U.S. exporters are the guarantees for medium-term loans to foreign buyers of capital equipment. Most loans are made by U.S. banks with Ex-Im Bank’s guarantee. More than 85 percent of Ex-Im’s transactions in recent years directly benefited small businesses. Much of Ex-Im Bank’s activity is under so-called bundling facilities. A bundling facility is a large medium-term loan made to a Mexican bank by a U.S. bank with the guarante







#eximbank #export-dot-gov #octopus #usa
Much of Ex-Im Bank’s activity is under so-called bundling facilities. A bundling facility is a large medium-term loan made to a Mexican bank by a U.S. bank with the guarantee of Ex-Im Bank. The Mexican bank then makes loans to Mexican companies for the purchase of American capital goods. There also are a number of U.S.-based banks that extend Ex-Im Bank credits in Mexico. The major Mexican commercial banks have signed agreements with Ex-Im Bank to grant lines of credit to Mexican firms that purchase U.S.-made products. Many major Mexican banks (Santander, BBVA-Bancomer, and others) have Master Guarantee Agreements. Such credits generally are available only to Mexican blue chip companies and to their suppliers with firm contracts
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Mexico - Project Financing
rantees for medium-term loans to foreign buyers of capital equipment. Most loans are made by U.S. banks with Ex-Im Bank’s guarantee. More than 85 percent of Ex-Im’s transactions in recent years directly benefited small businesses. <span>Much of Ex-Im Bank’s activity is under so-called bundling facilities. A bundling facility is a large medium-term loan made to a Mexican bank by a U.S. bank with the guarantee of Ex-Im Bank. The Mexican bank then makes loans to Mexican companies for the purchase of American capital goods. There also are a number of U.S.-based banks that extend Ex-Im Bank credits in Mexico. The major Mexican commercial banks have signed agreements with Ex-Im Bank to grant lines of credit to Mexican firms that purchase U.S.-made products. Many major Mexican banks (Santander, BBVA-Bancomer, and others) have Master Guarantee Agreements. Such credits generally are available only to Mexican blue chip companies and to their suppliers with firm contracts. EXIM Bank is a




Flashcard 1435918273804

Tags
#eximbank #export-dot-gov #octopus #usa
Question
Much of Ex-Im Bank’s activity is under so-called [...].
Answer
bundling facilities

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Much of Ex-Im Bank’s activity is under so-called bundling facilities. A bundling facility is a large medium-term loan made to a Mexican bank by a U.S. bank with the guarantee of Ex-Im Bank. The Mexican bank then makes loans to Mexican companies for the p

Original toplevel document

Mexico - Project Financing
rantees for medium-term loans to foreign buyers of capital equipment. Most loans are made by U.S. banks with Ex-Im Bank’s guarantee. More than 85 percent of Ex-Im’s transactions in recent years directly benefited small businesses. <span>Much of Ex-Im Bank’s activity is under so-called bundling facilities. A bundling facility is a large medium-term loan made to a Mexican bank by a U.S. bank with the guarantee of Ex-Im Bank. The Mexican bank then makes loans to Mexican companies for the purchase of American capital goods. There also are a number of U.S.-based banks that extend Ex-Im Bank credits in Mexico. The major Mexican commercial banks have signed agreements with Ex-Im Bank to grant lines of credit to Mexican firms that purchase U.S.-made products. Many major Mexican banks (Santander, BBVA-Bancomer, and others) have Master Guarantee Agreements. Such credits generally are available only to Mexican blue chip companies and to their suppliers with firm contracts. EXIM Bank is a







Flashcard 1435920633100

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#eximbank #export-dot-gov #octopus #usa
Question
A bundling facility is a large medium-term loan made to a [...] by a [...] with [...] The Mexican bank then makes loans to Mexican companies for the purchase of American capital goods.
Answer
Mexican bank

U.S. bank

the guarantee of Ex-Im Bank.

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Much of Ex-Im Bank’s activity is under so-called bundling facilities. A bundling facility is a large medium-term loan made to a Mexican bank by a U.S. bank with the guarantee of Ex-Im Bank. The Mexican bank then makes loans to Mexican companies for the purchase of American capital goods. There also are a number of U.S.-based

Original toplevel document

Mexico - Project Financing
rantees for medium-term loans to foreign buyers of capital equipment. Most loans are made by U.S. banks with Ex-Im Bank’s guarantee. More than 85 percent of Ex-Im’s transactions in recent years directly benefited small businesses. <span>Much of Ex-Im Bank’s activity is under so-called bundling facilities. A bundling facility is a large medium-term loan made to a Mexican bank by a U.S. bank with the guarantee of Ex-Im Bank. The Mexican bank then makes loans to Mexican companies for the purchase of American capital goods. There also are a number of U.S.-based banks that extend Ex-Im Bank credits in Mexico. The major Mexican commercial banks have signed agreements with Ex-Im Bank to grant lines of credit to Mexican firms that purchase U.S.-made products. Many major Mexican banks (Santander, BBVA-Bancomer, and others) have Master Guarantee Agreements. Such credits generally are available only to Mexican blue chip companies and to their suppliers with firm contracts. EXIM Bank is a







Flashcard 1435923778828

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#eximbank #export-dot-gov #octopus #usa
Question
There also are a number of [...] banks that extend Ex-Im Bank credits in Mexico.
Answer
U.S.-based

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undling facility is a large medium-term loan made to a Mexican bank by a U.S. bank with the guarantee of Ex-Im Bank. The Mexican bank then makes loans to Mexican companies for the purchase of American capital goods. There also are a number of <span>U.S.-based banks that extend Ex-Im Bank credits in Mexico. The major Mexican commercial banks have signed agreements with Ex-Im Bank to grant lines of credit to Mexican firms that purchase U.S.-ma

Original toplevel document

Mexico - Project Financing
rantees for medium-term loans to foreign buyers of capital equipment. Most loans are made by U.S. banks with Ex-Im Bank’s guarantee. More than 85 percent of Ex-Im’s transactions in recent years directly benefited small businesses. <span>Much of Ex-Im Bank’s activity is under so-called bundling facilities. A bundling facility is a large medium-term loan made to a Mexican bank by a U.S. bank with the guarantee of Ex-Im Bank. The Mexican bank then makes loans to Mexican companies for the purchase of American capital goods. There also are a number of U.S.-based banks that extend Ex-Im Bank credits in Mexico. The major Mexican commercial banks have signed agreements with Ex-Im Bank to grant lines of credit to Mexican firms that purchase U.S.-made products. Many major Mexican banks (Santander, BBVA-Bancomer, and others) have Master Guarantee Agreements. Such credits generally are available only to Mexican blue chip companies and to their suppliers with firm contracts. EXIM Bank is a







Flashcard 1435926138124

Tags
#eximbank #export-dot-gov #octopus #usa
Question
The major Mexican commercial banks have [...] to grant lines of credit to Mexican firms that purchase U.S.-made products.
Answer
signed agreements with Ex-Im Bank

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ee of Ex-Im Bank. The Mexican bank then makes loans to Mexican companies for the purchase of American capital goods. There also are a number of U.S.-based banks that extend Ex-Im Bank credits in Mexico. The major Mexican commercial banks have <span>signed agreements with Ex-Im Bank to grant lines of credit to Mexican firms that purchase U.S.-made products. Many major Mexican banks (Santander, BBVA-Bancomer, and others) have Master Guarantee Agreements. Such credit

Original toplevel document

Mexico - Project Financing
rantees for medium-term loans to foreign buyers of capital equipment. Most loans are made by U.S. banks with Ex-Im Bank’s guarantee. More than 85 percent of Ex-Im’s transactions in recent years directly benefited small businesses. <span>Much of Ex-Im Bank’s activity is under so-called bundling facilities. A bundling facility is a large medium-term loan made to a Mexican bank by a U.S. bank with the guarantee of Ex-Im Bank. The Mexican bank then makes loans to Mexican companies for the purchase of American capital goods. There also are a number of U.S.-based banks that extend Ex-Im Bank credits in Mexico. The major Mexican commercial banks have signed agreements with Ex-Im Bank to grant lines of credit to Mexican firms that purchase U.S.-made products. Many major Mexican banks (Santander, BBVA-Bancomer, and others) have Master Guarantee Agreements. Such credits generally are available only to Mexican blue chip companies and to their suppliers with firm contracts. EXIM Bank is a







#eximbank #export-dot-gov #octopus #usa
In Fiscal Year 2015Ex-Im Bank’s total exposure in Mexico was $9.45 billion and guarantees authorizations were $1.7 billion. Mexico remains the largest market in Ex-Im Bank’s portfolio.
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Mexico - Project Financing
cluding those related to the production of renewable sources of energy. ExIm Bank’s annual renewable energy authorizations in the past two years were: $121 million in the first three quarters of FY2015, $198 million in FY2014.[1] <span>In Fiscal Year 2015Ex-Im Bank’s total exposure in Mexico was $9.45 billion and guarantees authorizations were $1.7 billion. Mexico remains the largest market in Ex-Im Bank’s portfolio. Overseas Private Investment Corporation (http://www.opic.gov) OPIC is the U.S. Government’s development finance institution. It mobilizes private capita




Flashcard 1435929545996

Tags
#eximbank #export-dot-gov #octopus #usa
Question
In Fiscal Year 2015Ex-Im Bank’s total exposure in Mexico was [...] and guarantees authorizations were [...] . Mexico remains the largest market in Ex-Im Bank’s portfolio.
Answer
$9.45 billion

$1.7 billion

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In Fiscal Year 2015Ex-Im Bank’s total exposure in Mexico was $9.45 billion and guarantees authorizations were $1.7 billion. Mexico remains the largest market in Ex-Im Bank’s portfolio.

Original toplevel document

Mexico - Project Financing
cluding those related to the production of renewable sources of energy. ExIm Bank’s annual renewable energy authorizations in the past two years were: $121 million in the first three quarters of FY2015, $198 million in FY2014.[1] <span>In Fiscal Year 2015Ex-Im Bank’s total exposure in Mexico was $9.45 billion and guarantees authorizations were $1.7 billion. Mexico remains the largest market in Ex-Im Bank’s portfolio. Overseas Private Investment Corporation (http://www.opic.gov) OPIC is the U.S. Government’s development finance institution. It mobilizes private capita







Flashcard 1435937672460

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#six-tips-for-working-with-the-brain #tip-2-focus-is-the-starting-point-of-learning
Question

Research has proved that when we divide our attention, our focus [...].

Answer
switches back and forth between the two activities

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from the University of Wisconsin, calls this "phase locking" and it's the starting point of all learning. As a result, we must design our learning environments to help people focus and we must bust the myth that you can <span>multitask while learning. Research has proved that when we divide our attention, our focus switches back and forth between the two activities, also known as switch tasking. The hippo

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r learning products. The brain structures that are involved in learning include the hippocampus, the amygdala, and the basal ganglia. To design the best learning experiences, we need to understand and respect the neuroscience of learning. <span>Tip #2: Focus is the starting point of learning The hippocampus is the part of the brain that takes in information and moves it to our memory. When it's damaged, people lose access to past memories and no longer can make new ones. The hippocampus acts like a recorder or data drive; like those devices, it has an "on" button. Physiologically, it's when our eyes and ears attune to something that causes the hippocampus to begin recording. Richard Davidson, from the University of Wisconsin, calls this "phase locking" and it's the starting point of all learning. As a result, we must design our learning environments to help people focus and we must bust the myth that you can multitask while learning. Research has proved that when we divide our attention, our focus switches back and forth between the two activities, also known as switch tasking. The hippocampus loses vital pieces of information for both of the things we were trying to attend to. I call this "Swiss tasking" because we end up with holes in the data the hippocampus was capturing and, therefore, holes in our learning that cannot be recovered. Here is the big shocker about the hippocampus: It can only hold so much information before it must be processed and pushed into short-term memory. Studies show that the maximum amount is about 20 minutes of information. Lecture-style sessions never have demonstrated good results for retention, and now we know why—it works against the brain's natural functioning. The good news is that many other learning activities can help. All the hippocampus needs is a few minutes of processing to push that data into short-term memory and it's ready again for more. I now build all my learning events in chunks of 15 min