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Flashcard 1432385096972
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itThis refers to the way in which verb forms change according to the person, tense or mood: (io) vado ‘I go’; (noi) andremo ‘we will go’; le ragazze sono andate ‘the girls went’; voleva che io andassi a casa sua ‘he wanted me to go to his house’; etc. The word conjugation is
Original toplevel document (pdf)
cannot see any pdfsFlashcard 1432412097804
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itA noun is countable if it can normally be used in both singular and plural, and take the indefinite article un, una (etc.): un bicchiere ‘a glass’; una pizza ‘a pizza’. Whereas an uncountable noun is one which is not normally found in the plural (e.g. zucchero ‘sugar’) or an abstract noun (such as tristezza ‘sadness’).
Original toplevel document (pdf)
cannot see any pdfsFlashcard 1435137346828
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itMunchery is one of dozens of technology startups around the world trying to solve the challenge of mealtime planning with the tap of an app. GrubHub in the U.S., Just Eat in Europe, and Ele.me in China, to name just a few, all connect Internet users with restaurants and their takeout menus.
Original toplevel document
How an immigrant motherfucker made muncheryd chief executive officer now. Four years ago he started Munchery, which delivers fully cooked meals to people’s homes, each day presenting an abundance of foods that stands in stark contrast to the deprivation of his early life. <span>Munchery is one of dozens of technology startups around the world trying to solve the challenge of mealtime planning with the tap of an app. GrubHub in the U.S., Just Eat in Europe, and Ele.me in China, to name just a few, all connect Internet users with restaurants and their takeout menus. Critics derisively call the proliferation of these businesses the “lazy food economy,” but Munchery is different. It cooks and delivers its own rela-tively healthy fare. Th
Flashcard 1436150009100
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itExplicit Costs vs. Implicit Costs Explicit costs arise based on what has actually been purchased as opposed to implicit costs that arise based on what has actually been given up other than money. Explicit costs have a paper trail and provide audit documentation. Implicit costs are not traceable in a financial system. While management will utilize explicit costs when viewing bus
Original toplevel document
Explicit Cost Definition | Investopediahased are examples of explicit costs. Although the depreciation of an asset is not an activity that can be tangibly traced, depreciation expense is an explicit cost because it relates to the cost of the underlying asset that the company owns. <span>Explicit Costs vs. Implicit Costs Explicit costs arise based on what has actually been purchased as opposed to implicit costs that arise based on what has actually been given up other than money. Explicit costs have a paper trail and provide audit documentation. Implicit costs are not traceable in a financial system. While management will utilize explicit costs when viewing business operations, implicit costs are only utilized in decision-making or choosing between multiple alternatives. Opportunity Costs Explicit costs are used in the computation of opportunity costs. An opportunity cost is the total value of an item forgone. It is calculated by adding the explicit and
Flashcard 1438298803468
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itspent. Incremental cash flow is the net cash flow attributable to an investment project. It represents the change in the firm's total cash flow that occurs as a direct result of accepting the project. <span>Forget sunk costs. Subtract opportunity costs. Consider side effects on other parts of the firm: externalities and cannibalization. Recognize the investment and recovery of net working capital. O
Original toplevel document
Subject 2. Basic Principles of Capital Budgetingd in the estimated cash flows since the effects of debt financing are reflected in the cost of capital used to discount the cash flows. The existence of a project depends on business factors, not financing. <span>Important capital budgeting concepts: A sunk cost is a cash outlay that has already been incurred and which cannot be recovered regardless of whether a project is accepted or rejected. Since sunk costs are not increment costs, they should not be included in the capital budgeting analysis. For example, a small bookstore is considering opening a coffee shop within its store, which will generate an annual net cash outflow of $10,000 from selling coffee. That is, the coffee shop will always be losing money. In the previous year, the bookstore spent $5,000 to hire a consultant to perform an analysis. This $5,000 consulting fee is a sunk cost; whether the coffee shop is opened or not, the $5,000 is spent. Incremental cash flow is the net cash flow attributable to an investment project. It represents the change in the firm's total cash flow that occurs as a direct result of accepting the project. Forget sunk costs. Subtract opportunity costs. Consider side effects on other parts of the firm: externalities and cannibalization. Recognize the investment and recovery of net working capital. Opportunity cost is the return on the best alternative use of an asset or the highest return that will not be earned if funds are invested in a particular project. For example, to continue with the bookstore example, the space to be occupied by the coffee shop is an opportunity cost - it could be used to sell books and generate a $5,000 annual net cash inflow. Externalities are the effects of a project on cash flows in other parts of a firm. Although they are difficult to quantify, they should be considered. Externalities can be either positive or negative: Positive externalities create benefits for other parts of the firm. For example, the coffee shop may generate some additional customers for the bookstore (who otherwise may not buy books there). Future cash flows generated by positive externalities occur with the project and do not occur without the project, so they are incremental. Negative externalities create costs for other parts of the firm. For example, if the bookstore is considering opening a branch two blocks away, some customers who buy books at the old store will switch to the new branch. The customers lost by the old store are a negative externality. The primary type of negative externality is cannibalization, which occurs when the introduction of a new product causes sales of existing products to decline. Future cash flows represented by negative externalities occur regardless of the project, so they are non-incremental. Such cash flows represent a transfer from existing projects to new projects, and thus should be subtracted from the new projects' cash flows. Conventional versus non-conventional cash flows. A conventional cash flow pattern is one with an initial outflow followed by a series of inflows. In a non-conventional cash flow pattern, the initial outflow can be followed by inflows and/or outflows. Some project interactions: Indepe
Flashcard 1438301162764
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itspent. Incremental cash flow is the net cash flow attributable to an investment project. It represents the change in the firm's total cash flow that occurs as a direct result of accepting the project. <span>Forget sunk costs. Subtract opportunity costs. Consider side effects on other parts of the firm: externalities and cannibalization. Recognize the investment and recovery of net working capital. O
Original toplevel document
Subject 2. Basic Principles of Capital Budgetingd in the estimated cash flows since the effects of debt financing are reflected in the cost of capital used to discount the cash flows. The existence of a project depends on business factors, not financing. <span>Important capital budgeting concepts: A sunk cost is a cash outlay that has already been incurred and which cannot be recovered regardless of whether a project is accepted or rejected. Since sunk costs are not increment costs, they should not be included in the capital budgeting analysis. For example, a small bookstore is considering opening a coffee shop within its store, which will generate an annual net cash outflow of $10,000 from selling coffee. That is, the coffee shop will always be losing money. In the previous year, the bookstore spent $5,000 to hire a consultant to perform an analysis. This $5,000 consulting fee is a sunk cost; whether the coffee shop is opened or not, the $5,000 is spent. Incremental cash flow is the net cash flow attributable to an investment project. It represents the change in the firm's total cash flow that occurs as a direct result of accepting the project. Forget sunk costs. Subtract opportunity costs. Consider side effects on other parts of the firm: externalities and cannibalization. Recognize the investment and recovery of net working capital. Opportunity cost is the return on the best alternative use of an asset or the highest return that will not be earned if funds are invested in a particular project. For example, to continue with the bookstore example, the space to be occupied by the coffee shop is an opportunity cost - it could be used to sell books and generate a $5,000 annual net cash inflow. Externalities are the effects of a project on cash flows in other parts of a firm. Although they are difficult to quantify, they should be considered. Externalities can be either positive or negative: Positive externalities create benefits for other parts of the firm. For example, the coffee shop may generate some additional customers for the bookstore (who otherwise may not buy books there). Future cash flows generated by positive externalities occur with the project and do not occur without the project, so they are incremental. Negative externalities create costs for other parts of the firm. For example, if the bookstore is considering opening a branch two blocks away, some customers who buy books at the old store will switch to the new branch. The customers lost by the old store are a negative externality. The primary type of negative externality is cannibalization, which occurs when the introduction of a new product causes sales of existing products to decline. Future cash flows represented by negative externalities occur regardless of the project, so they are non-incremental. Such cash flows represent a transfer from existing projects to new projects, and thus should be subtracted from the new projects' cash flows. Conventional versus non-conventional cash flows. A conventional cash flow pattern is one with an initial outflow followed by a series of inflows. In a non-conventional cash flow pattern, the initial outflow can be followed by inflows and/or outflows. Some project interactions: Indepe
Flashcard 1438397631756
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Subject 2. Basic Principles of Capital Budgeting
t allocate the firm's capital. On the other hand, a firm can raise the funds it wants for all profitable projects simply by paying the required rate of return. Learning Outcome Statements b. <span>describe the basic principles of capital budgeting; c. explain how the evaluation and selection of capital projects is affected by mutually exclusive projects, project sequencing, and capital rationing; 
t allocate the firm's capital. On the other hand, a firm can raise the funds it wants for all profitable projects simply by paying the required rate of return. Learning Outcome Statements b. <span>describe the basic principles of capital budgeting; c. explain how the evaluation and selection of capital projects is affected by mutually exclusive projects, project sequencing, and capital rationing; 
Flashcard 1438511664396
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itties create costs for other parts of the firm. For example, if the bookstore is considering opening a branch two blocks away, some customers who buy books at the old store will switch to the new branch. The customers lost by the old store are <span>a negative externality. The primary type of negative externality is cannibalization, which occurs when the introduction of a new product causes sales of existing products to decline. 
Original toplevel document
Subject 2. Basic Principles of Capital Budgetingd in the estimated cash flows since the effects of debt financing are reflected in the cost of capital used to discount the cash flows. The existence of a project depends on business factors, not financing. <span>Important capital budgeting concepts: A sunk cost is a cash outlay that has already been incurred and which cannot be recovered regardless of whether a project is accepted or rejected. Since sunk costs are not increment costs, they should not be included in the capital budgeting analysis. For example, a small bookstore is considering opening a coffee shop within its store, which will generate an annual net cash outflow of $10,000 from selling coffee. That is, the coffee shop will always be losing money. In the previous year, the bookstore spent $5,000 to hire a consultant to perform an analysis. This $5,000 consulting fee is a sunk cost; whether the coffee shop is opened or not, the $5,000 is spent. Incremental cash flow is the net cash flow attributable to an investment project. It represents the change in the firm's total cash flow that occurs as a direct result of accepting the project. Forget sunk costs. Subtract opportunity costs. Consider side effects on other parts of the firm: externalities and cannibalization. Recognize the investment and recovery of net working capital. Opportunity cost is the return on the best alternative use of an asset or the highest return that will not be earned if funds are invested in a particular project. For example, to continue with the bookstore example, the space to be occupied by the coffee shop is an opportunity cost - it could be used to sell books and generate a $5,000 annual net cash inflow. Externalities are the effects of a project on cash flows in other parts of a firm. Although they are difficult to quantify, they should be considered. Externalities can be either positive or negative: Positive externalities create benefits for other parts of the firm. For example, the coffee shop may generate some additional customers for the bookstore (who otherwise may not buy books there). Future cash flows generated by positive externalities occur with the project and do not occur without the project, so they are incremental. Negative externalities create costs for other parts of the firm. For example, if the bookstore is considering opening a branch two blocks away, some customers who buy books at the old store will switch to the new branch. The customers lost by the old store are a negative externality. The primary type of negative externality is cannibalization, which occurs when the introduction of a new product causes sales of existing products to decline. Future cash flows represented by negative externalities occur regardless of the project, so they are non-incremental. Such cash flows represent a transfer from existing projects to new projects, and thus should be subtracted from the new projects' cash flows. Conventional versus non-conventional cash flows. A conventional cash flow pattern is one with an initial outflow followed by a series of inflows. In a non-conventional cash flow pattern, the initial outflow can be followed by inflows and/or outflows. Some project interactions: Indepe
Flashcard 1439597464844
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itrealicen servicios a mercancías de exportación o se presten servicios de exportación, únicamente para el desarrollo de las actividades que la Secretaría determine, previa opinión de la Secretaría de Hacienda y Crédito Público; Programa IMMEX <span>Albergue, cuando una o varias empresas extranjeras le faciliten la tecnología y el material productivo, sin que estas últimas operen directamente el Programa, y Programa IMMEX Terciarización, cu
Original toplevel document
Decreto IMMEXiladora de Exportación (Maquila) y el que Establece Programas de Importación Temporal para Producir Artículos de Exportación (PITEX), cuyas empresas representan en su conjunto el 85% de las exportaciones manufactureras de México. <span>ASPECTOS GENERALES Definición: El Programa IMMEX es un instrumento mediante el cual se permite importar temporalmente los bienes necesarios para ser utilizados en un proceso industrial o de servicio destinado a la elaboración, transformación o reparación de mercancías de procedencia extranjera importadas temporalmente para su exportación o a la prestación de servicios de exportación, sin cubrir el pago del impuesto general de importación, del impuesto al valor agregado y, en su caso, de las cuotas compensatorias Beneficiarios: La Secretaría de Economía (SE) podrá autorizar a las personas morales residentes en territorio nacional a que se refiere la fracción II del artículo 9 del Código Fiscal de la Federación, que tributen de conformidad con el Título II de la Ley del Impuesto sobre la Renta, un solo Programa IMMEX, que puede incluir las modalidades de controladora de empresas, industrial, servicios, albergue y terciarización, siempre que cumplan con los requisitos previstos en el Decreto para el Fomento de la Industria Manufacturera, Maquiladora y de Servicios de Exportación (Decreto IMMEX), publicado en el Diario Oficial e la Federación el 1 de noviembre de 2006. Beneficios: El Programa IMMEX brinda a sus titulares la posibilidad de importar temporalmente libre de impuestos a la importación y del IVA, los bienes necesarios para ser utilizados en un proceso industrial o de servicio destinado a la elaboración, transformación o reparación de mercancías de procedencia extranjera importadas temporalmente para su exportación o a la prestación de servicios de exportación. Estos bienes están agrupados bajo las siguientes categorías: Materias primas, partes y componentes que se vayan a destinar totalmente a integrar mercancías de exportación; combustibles, lubricantes y otros materiales que se vayan a consumir durante el proceso productivo de la mercancía de exportación; envases y empaques; etiquetas y folletos. Contenedores y cajas de trailers. Maquinaria, equipo, herramientas, instrumentos, moldes y refacciones destinadas al proceso productivo; equipos y aparatos para el control de la contaminación; para la investigación o capacitación, de seguridad industrial, de telecomunicación y cómputo, de laboratorio, de medición, de prueba de productos y control de calidad; así como aquéllos que intervengan en el manejo de materiales relacionados directamente con los bienes de exportación y otros vinculados con el proceso productivo; equipo para el desarrollo administrativo. Modalidades: Programa IMMEX Controladora de empresas, cuando en un mismo programa se integren las operaciones de manufactura de una empresa certificada denominada controladora y una o más sociedades controladas; Programa IMMEX Industrial, cuando se realice un proceso industrial de elaboración o transformación de mercancías destinadas a la exportación; Programa IMMEX Servicios, cuando se realicen servicios a mercancías de exportación o se presten servicios de exportación, únicamente para el desarrollo de las actividades que la Secretaría determine, previa opinión de la Secretaría de Hacienda y Crédito Público; Programa IMMEX Albergue, cuando una o varias empresas extranjeras le faciliten la tecnología y el material productivo, sin que estas últimas operen directamente el Programa, y Programa IMMEX Terciarización, cuando una empresa certificada que no cuente con instalaciones para realizar procesos productivos, realice las operaciones de manufactura a través de terceros que registre en su Programa. La SE podrá aprobar de manera simultánea un Programa de Promoción Sectorial, de acuerdo con el tipo de productos que fabrica o a los servicios de exportación que realice, debiendo cumplir con la normatividad aplicable a los mismos. Tratándose de una empresa bajo la modalidad de servicios, únicamente podrá importar al amparo del Programa de Promoción Sectorial las mercancías a que se refiere el artículo 4, fracción III del presente Decreto, siempre que corresponda al sector en que sea registrada. Vigencia: La vigencia de los Programas IMMEX estará sujeta mientras el titular de los mismos continúe cumpliendo con los requisitos previstos para su otorgamiento y con las obligaciones establecidas en el Decreto. Plazos de permanencia: Los bienes importados temporalmente al amparo de un Programa IMMEX, podrán permanecer en territorio nacional por los plazos establecidos en el artículo 108 de la Ley Aduanera. Para las mercancías comprendidas en los Anexos II y III del Decreto IMMEX, cuando se importen como materia prima, el plazo de permanencia será hasta por doce meses. Tratándose de las mercancías que se encuentran comprendidas en el Anexo III del Decreto IMMEX, cuando se importen como materia prima, únicamente cuando se destinen a actividades bajo la modalidad de servicios, el plazo de permanencia será de hasta seis meses. No podrán ser importadas al amparo del Programa las mercancías señaladas en el Anexo I del Decreto IMMEX. Compromisos: Para gozar de los beneficios de un Programa IMMEX se deberá dar cumplimiento a los términos establecidos en el Decreto en la materia. La autorización del Programa se otorgará bajo el compromiso de realizar anualmente ventas al exterior por un valor superior a 500,000 dólares de los Estados Unidos de América, o su equivalente en moneda nacional, o bien, facturar exportaciones, cuando menos por el 10% de su facturación total. Reportes: El titular de un Programa IMMEX deberá presentar un reporte anual de forma electrónica, respecto del total de las ventas y de las exportaciones, correspondientes al ejercicio fiscal inmediato anterior, a más tardar el último día hábil del mes de mayo, conforme al formato que mediante Reglas y Criterios de Carácter General en Materia de Comercio Exterior dé a conocer la Secretaría de Economía. Adicionalmente, la empresa con Programa IMMEX deberá presentar la información que, para efectos estadísticos, se determine, en los términos que establezca la SE mediante Reglas y Criterios de Carácter General en Materia de Comercio Exterior. Para mayor información sobre este programa comunicarse al 01 800 410 2000 disponible para todo el país ó al buzón de la Secretaría de Economía en www.economia.gob.mx; o al teléfono 52-29-61-00, ext. 34347, Lic. Sergio Manríquez Fernández, Subdirector de Devolución de Impuestos. TRÁMITES Operación: Los trámites relativos al Programa IMMEX son gratuitos y pueden ser realizados en las ventanillas de atención al público de las Repre
Flashcard 1439599824140
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itión de la Secretaría de Hacienda y Crédito Público; Programa IMMEX Albergue, cuando una o varias empresas extranjeras le faciliten la tecnología y el material productivo, sin que estas últimas operen directamente el Programa, y Programa IMMEX <span>Terciarización, cuando una empresa certificada que no cuente con instalaciones para realizar procesos productivos, realice las operaciones de manufactura a través de terceros que registre en su Progra
Original toplevel document
Decreto IMMEXiladora de Exportación (Maquila) y el que Establece Programas de Importación Temporal para Producir Artículos de Exportación (PITEX), cuyas empresas representan en su conjunto el 85% de las exportaciones manufactureras de México. <span>ASPECTOS GENERALES Definición: El Programa IMMEX es un instrumento mediante el cual se permite importar temporalmente los bienes necesarios para ser utilizados en un proceso industrial o de servicio destinado a la elaboración, transformación o reparación de mercancías de procedencia extranjera importadas temporalmente para su exportación o a la prestación de servicios de exportación, sin cubrir el pago del impuesto general de importación, del impuesto al valor agregado y, en su caso, de las cuotas compensatorias Beneficiarios: La Secretaría de Economía (SE) podrá autorizar a las personas morales residentes en territorio nacional a que se refiere la fracción II del artículo 9 del Código Fiscal de la Federación, que tributen de conformidad con el Título II de la Ley del Impuesto sobre la Renta, un solo Programa IMMEX, que puede incluir las modalidades de controladora de empresas, industrial, servicios, albergue y terciarización, siempre que cumplan con los requisitos previstos en el Decreto para el Fomento de la Industria Manufacturera, Maquiladora y de Servicios de Exportación (Decreto IMMEX), publicado en el Diario Oficial e la Federación el 1 de noviembre de 2006. Beneficios: El Programa IMMEX brinda a sus titulares la posibilidad de importar temporalmente libre de impuestos a la importación y del IVA, los bienes necesarios para ser utilizados en un proceso industrial o de servicio destinado a la elaboración, transformación o reparación de mercancías de procedencia extranjera importadas temporalmente para su exportación o a la prestación de servicios de exportación. Estos bienes están agrupados bajo las siguientes categorías: Materias primas, partes y componentes que se vayan a destinar totalmente a integrar mercancías de exportación; combustibles, lubricantes y otros materiales que se vayan a consumir durante el proceso productivo de la mercancía de exportación; envases y empaques; etiquetas y folletos. Contenedores y cajas de trailers. Maquinaria, equipo, herramientas, instrumentos, moldes y refacciones destinadas al proceso productivo; equipos y aparatos para el control de la contaminación; para la investigación o capacitación, de seguridad industrial, de telecomunicación y cómputo, de laboratorio, de medición, de prueba de productos y control de calidad; así como aquéllos que intervengan en el manejo de materiales relacionados directamente con los bienes de exportación y otros vinculados con el proceso productivo; equipo para el desarrollo administrativo. Modalidades: Programa IMMEX Controladora de empresas, cuando en un mismo programa se integren las operaciones de manufactura de una empresa certificada denominada controladora y una o más sociedades controladas; Programa IMMEX Industrial, cuando se realice un proceso industrial de elaboración o transformación de mercancías destinadas a la exportación; Programa IMMEX Servicios, cuando se realicen servicios a mercancías de exportación o se presten servicios de exportación, únicamente para el desarrollo de las actividades que la Secretaría determine, previa opinión de la Secretaría de Hacienda y Crédito Público; Programa IMMEX Albergue, cuando una o varias empresas extranjeras le faciliten la tecnología y el material productivo, sin que estas últimas operen directamente el Programa, y Programa IMMEX Terciarización, cuando una empresa certificada que no cuente con instalaciones para realizar procesos productivos, realice las operaciones de manufactura a través de terceros que registre en su Programa. La SE podrá aprobar de manera simultánea un Programa de Promoción Sectorial, de acuerdo con el tipo de productos que fabrica o a los servicios de exportación que realice, debiendo cumplir con la normatividad aplicable a los mismos. Tratándose de una empresa bajo la modalidad de servicios, únicamente podrá importar al amparo del Programa de Promoción Sectorial las mercancías a que se refiere el artículo 4, fracción III del presente Decreto, siempre que corresponda al sector en que sea registrada. Vigencia: La vigencia de los Programas IMMEX estará sujeta mientras el titular de los mismos continúe cumpliendo con los requisitos previstos para su otorgamiento y con las obligaciones establecidas en el Decreto. Plazos de permanencia: Los bienes importados temporalmente al amparo de un Programa IMMEX, podrán permanecer en territorio nacional por los plazos establecidos en el artículo 108 de la Ley Aduanera. Para las mercancías comprendidas en los Anexos II y III del Decreto IMMEX, cuando se importen como materia prima, el plazo de permanencia será hasta por doce meses. Tratándose de las mercancías que se encuentran comprendidas en el Anexo III del Decreto IMMEX, cuando se importen como materia prima, únicamente cuando se destinen a actividades bajo la modalidad de servicios, el plazo de permanencia será de hasta seis meses. No podrán ser importadas al amparo del Programa las mercancías señaladas en el Anexo I del Decreto IMMEX. Compromisos: Para gozar de los beneficios de un Programa IMMEX se deberá dar cumplimiento a los términos establecidos en el Decreto en la materia. La autorización del Programa se otorgará bajo el compromiso de realizar anualmente ventas al exterior por un valor superior a 500,000 dólares de los Estados Unidos de América, o su equivalente en moneda nacional, o bien, facturar exportaciones, cuando menos por el 10% de su facturación total. Reportes: El titular de un Programa IMMEX deberá presentar un reporte anual de forma electrónica, respecto del total de las ventas y de las exportaciones, correspondientes al ejercicio fiscal inmediato anterior, a más tardar el último día hábil del mes de mayo, conforme al formato que mediante Reglas y Criterios de Carácter General en Materia de Comercio Exterior dé a conocer la Secretaría de Economía. Adicionalmente, la empresa con Programa IMMEX deberá presentar la información que, para efectos estadísticos, se determine, en los términos que establezca la SE mediante Reglas y Criterios de Carácter General en Materia de Comercio Exterior. Para mayor información sobre este programa comunicarse al 01 800 410 2000 disponible para todo el país ó al buzón de la Secretaría de Economía en www.economia.gob.mx; o al teléfono 52-29-61-00, ext. 34347, Lic. Sergio Manríquez Fernández, Subdirector de Devolución de Impuestos. TRÁMITES Operación: Los trámites relativos al Programa IMMEX son gratuitos y pueden ser realizados en las ventanillas de atención al público de las Repre
Flashcard 1439734304012
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itSection 2 introduces the analysis of market structures. The section addresses questions such as: What determines the degree of competition associated with each market structure? Given the degree of competition associated with each market structure, what decisions are left to the management team developing corporate strategy? How does
Original toplevel document
1. INTRODUCTIONts are possible even in the long run; in the short run, any outcome is possible. Therefore, understanding the forces behind the market structure will aid the financial analyst in determining firms’ short- and long-term prospects. <span>Section 2 introduces the analysis of market structures. The section addresses questions such as: What determines the degree of competition associated with each market structure? Given the degree of competition associated with each market structure, what decisions are left to the management team developing corporate strategy? How does a chosen pricing and output strategy evolve into specific decisions that affect the profitability of the firm? The answers to these questions are related to the forces of the market structure within which the firm operates. Sections 3, 4, 5, and 6 analyze demand, supply, optimal price and output, and factors affecting long-run equilibrium for perfect competition, monopolistic competition, olig
Flashcard 1439736663308
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Parent (intermediate) annotation
Open itof market structures. The section addresses questions such as: What determines the degree of competition associated with each market structure? Given the degree of competition associated with each market structure, what decisions are left to <span>the management team developing corporate strategy? How does a chosen pricing and output strategy evolve into specific decisions that affect the profitability of the firm? The answers to these questions are related to the forces of the
Original toplevel document
1. INTRODUCTIONts are possible even in the long run; in the short run, any outcome is possible. Therefore, understanding the forces behind the market structure will aid the financial analyst in determining firms’ short- and long-term prospects. <span>Section 2 introduces the analysis of market structures. The section addresses questions such as: What determines the degree of competition associated with each market structure? Given the degree of competition associated with each market structure, what decisions are left to the management team developing corporate strategy? How does a chosen pricing and output strategy evolve into specific decisions that affect the profitability of the firm? The answers to these questions are related to the forces of the market structure within which the firm operates. Sections 3, 4, 5, and 6 analyze demand, supply, optimal price and output, and factors affecting long-run equilibrium for perfect competition, monopolistic competition, olig
Flashcard 1442904673548
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Open itLa morfología se ocupa de la estructura interna de las palabras. Su unidad de análisis es el morfema, la unidad significativa mínima. Una palabra como libro no es segmentable en partes que preserven la dualidad entre sonido y significado: es una pa
Original toplevel document
Open itEn un sentido estrecho, la gramática sólo estudia las unidades significativas y su combinatoria. Comprende dos partes: la morfología y la sintaxis. La [16] primera se ocupa de la estructura interna de las palabras. Su unidad de análisis es el morfema, la unidad significativa mínima. Una palabra como libro no es segmentable en partes que preserven la dualidad entre sonido y significado: es una palabra simple. En cambio, libro-s, libr-ero, libr-ito contienen cada una dos formantes. La morfología detiene su análisis al llegar a la palabra. La sintaxis, a su vez, estudia la combinatoria de las palabras en el marco de la oración, su unidad máxima. Entre el morfema y la oración, unidades mínima y máxima, respectivamente
Flashcard 1447234243852
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Open itThese are truly symbols because they express something conceivable: a mermaid, a purple cow, an inhabitant of another planet, a regular polygon with one hundred sides, an elephant, a rose. So also are the symbols given above as examples of the essence,
Original toplevel document (pdf)
cannot see any pdfsFlashcard 1447291129100
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Parent (intermediate) annotation
Open itan aggregate is a particular group of individuals that may or may not have the same essence or class nature; but in either case, the aggregate does not include all the members that have that nat ure
Original toplevel document (pdf)
cannot see any pdfsFlashcard 1447427443980
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Open iteasure and determine its place, for example: on a bench, beside the lake. 9 Posture is the relative position which the parts of a substance have toward each other, for example: sitting, leaning forward. 10 <span>Habiliment consists of clothing, ornaments, or weapons with which human beings by their art complement their nature in order to conserve t heir own being or that of the community (the other self)
Original toplevel document (pdf)
cannot see any pdfsFlashcard 1447699811596
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Parent (intermediate) annotation
Open iteasure and determine its place, for example: on a bench, beside the lake. 9 Posture is the relative position which the parts of a substance have toward each other, for example: sitting, leaning forward. 10 <span>Habiliment consists of clothing, ornaments, or weapons with which human beings by their art complement their nature in order to conserve t heir own being or that of the community (the other self)
Original toplevel document (pdf)
cannot see any pdfsFlashcard 1447737822476
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Parent (intermediate) annotation
Open itObjectively, the definition (the logical dimension) of house and home are similar and may be represented by the lines ab; but subjectively, home is a much richer word, for to its logical content is added an emotional content (
Original toplevel document (pdf)
cannot see any pdfsFlashcard 1448304053516
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Open itProfit (or loss) includes other income (such as investing income or income from the sale of items other than goods and services) minus the expenses incurred to earn that income.
Original toplevel document
2. SCOPE OF FINANCIAL STATEMENT ANALYSISof cash disbursements). Profit and cash flow are not equivalent. Profit (or loss) represents the difference between the prices at which goods or services are provided to customers and the expenses incurred to provide those goods and services. <span>In addition, profit (or loss) includes other income (such as investing income or income from the sale of items other than goods and services) minus the expenses incurred to earn that income. Overall, profit (or loss) equals income minus expenses, and its recognition is mostly independent from when cash is received or paid. Example 1 illustrates the distinction between profi
Flashcard 1450236841228
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Parent (intermediate) annotation
Open itead><head> The rate of increase in total costs declines up to a certain output level and, thereafter, accelerates as the firm gets closer to full utilization of capacity. The rate of change in total costs mirrors the rate of change in total variable cost. In Exhibit 13, TC at 5 units is 400—of which 300 is variable cost and 100 is fixed cost. At 10 units, total costs are 1,650, which is the sum of 1,550 in variable cost and 10
Original toplevel document
CostsTotal costs (TC) are the summation of all costs, where costs are classified according to fixed or variable. Total costs increase as the firm expands output and decrease when production is cut. The rate of increase in total costs declines up to a certain output level and, thereafter, accelerates as the firm gets closer to full utilization of capacity. The rate of change in total costs mirrors the rate of change in total variable cost. In Exhibit 13, TC at 5 units is 400—of which 300 is variable cost and 100 is fixed cost. At 10 units, total costs are 1,650, which is the sum of 1,550 in variable cost and 100 in fixed cost. Total fixed cost (TFC) is the summation of all expenses that do not change when production varies. It can be a sunk or unavoidable cost that a firm has to cover whether it
Flashcard 1450632154380
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Parent (intermediate) annotation
Open itUnder any form of imperfect competition, the individual seller confronts a negatively sloped demand curve, where price and the quantity demanded by consumers are inversely related.
Original toplevel document
3. ANALYSIS OF REVENUE, COSTS, AND PROFITSzation requires that we examine both of those components. Revenue comes from the demand for the firm’s products, and cost comes from the acquisition and utilization of the firm’s inputs in the production of those products. <span>3.1.1. Total, Average, and Marginal Revenue This section briefly examines demand and revenue in preparation for addressing cost. Unless the firm is a pure monopolist (i.e., the only seller in its market), there is a difference between market demand and the demand facing an individual firm. A later reading will devote much more time to understanding the various competitive environments (perfect competition, monopolistic competition, oligopoly, and monopoly), known as market structure . To keep the analysis simple at this point, we will note that competition could be either perfect or imperfect. In perfect competition , the individual firm has virtually no impact on market price, because it is assumed to be a very small seller among a very large number of firms selling essentially identical products. Such a firm is called a price taker . In the second case, the firm does have at least some control over the price at which it sells its product because it must lower its price to sell more units. Exhibit 4 presents total, average, and marginal revenue data for a firm under the assumption that the firm is price taker at each relevant level of quantity of goods sold. Consequently, the individual seller faces a horizontal demand curve over relevant output ranges at the price level established by the market (see Exhibit 5). The seller can offer any quantity at this set market price without affecting price. In contrast, imperfect competition is where an individual firm has enough share of the market (or can control a certain segment of the market) and is therefore able to exert some influence over price. Instead of a large number of competing firms, imperfect competition involves a smaller number of firms in the market relative to perfect competition and in the extreme case only one firm (i.e., monopoly). Under any form of imperfect competition, the individual seller confronts a negatively sloped demand curve, where price and the quantity demanded by consumers are inversely related. In this case, price to the firm declines when a greater quantity is offered to the market; price to the firm increases when a lower quantity is offered to the market. This is shown in Exhibits 6 and 7. Exhibit 4. Total, Average, and Marginal Revenue under Perfect Competition Quantity Sold (Q) Price (P) Total Revenue (TR) Average Re
Flashcard 1450634513676
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Parent (intermediate) annotation
Open itHow is the concept of economic rent useful in financial analysis? Commodities or resources that command economic rent have the potential to reward equity investors more than what is required to attract their capital to that activity, resulting in greater shareholders’ wealth.
Original toplevel document
2. OBJECTIVES OF THE FIRMer competing firms to compete away any economic profit over the long run. Economic profit that exists over the long run is usually found where competitive conditions persistently are less than perfect in the market. <span>2.1.3. Economic Rent The surplus value known as economic rent results when a particular resource or good is fixed in supply (with a vertical supply curve) and market price is higher than what is required to bring the resource or good onto the market and sustain its use. Essentially, demand determines the price level and the magnitude of economic rent that is forthcoming from the market. Exhibit 1 illustrates this concept, where P 1 is the price level that yields a normal profit return to the business that supplies the item. When demand increases from Demand 1 to Demand 2 , price rises to P 2 , where at this higher price level economic rent is created. The amount of this economic rent is calculated as (P 2 – P 1 ) × Q 1 . The firm has not done anything internally to merit this special reward: It benefits from an increase in demand in conjunction with a supply curve that does not fully adjust with an increase in quantity when price rises. Exhibit 1. Economic Rent Because of their limited availability in nature, certain resources—such as land and specialty commodities—possess highly inelastic supply curves in both the short run and long run (shown in Exhibit 1 as a vertical supply curve). When supply is relatively inelastic, a high degree of market demand can result in pricing that creates economic rent. This economic rent results from the fact that when price increases, the quantity supplied does not change or, at the most, increases only slightly. This is because of the fixation of supply by nature or by such artificial constraints as government policy. How is the concept of economic rent useful in financial analysis? Commodities or resources that command economic rent have the potential to reward equity investors more than what is required to attract their capital to that activity, resulting in greater shareholders’ wealth. Evidence of economic rent attracts additional capital funds to the economic endeavor. This new investment capital increases shareholders’ value as investors bid up share prices of existing firms. Any commodity, resource, or good that is fixed or nearly fixed in supply has the potential to yield economic rent. From an analytical perspective, one can obtain industry supply data to calculate the elasticity of supply , which measures the sensitivity of quantity supplied to a change in price. If quantity supplied is relatively unresponsive ( inelastic ) to price changes, then a potential condition exists in the market for economic rent. A reliable forecast of changes in demand can indicate the degree of any economic rent that is forthcoming from the market in the future. When one is analyzing fixed or nearly fixed supply markets (e.g., gold), a fundamental comprehension of demand determinants is necessary to make rational financial decisions based on potential economic rent. EXAMPLE 1 Economic Rent and Investment Decision Making The following market data show the global demand, global supply, and price on an annual basis for gold over the period 2006–2008. Based on the data, what observation can be made about market demand, supply, and economic rent? Year 2006 2007 2008 Percent Change 2006–2008 Supply (in metric tons) 3,569 3,475 3,508 –1.7 Demand (in metric tons) 3,423 3,552 3,805 +11.2 Average spot price (in US$) 603.92 695.39 871.65 +44.3 Source: GFMS and World Gold Council. Solution: The amount of total gold supplied to the world market over this period has actually declined slightly by 1.7 percent during a period when there was a double-digit increase of 11.2 percent in demand. As a consequence, the spot price has dramatically increased by 44.3 percent. Economic rent has resulted from this market relationship of a relatively fixed supply of gold and a rising demand for it. 2.2. Comparison of Profit Measures All three types of profit are interconnected because, according to Equation 4, acco
Flashcard 1450636872972
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
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| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itAny commodity, resource, or good that is fixed or nearly fixed in supply has the potential to yield economic rent. From an analytical perspective, one can obtain industry supply data to calculate the elasticity of supply , which measures the sensitivity of quantity supplied to a change in price. If
Original toplevel document
2. OBJECTIVES OF THE FIRMer competing firms to compete away any economic profit over the long run. Economic profit that exists over the long run is usually found where competitive conditions persistently are less than perfect in the market. <span>2.1.3. Economic Rent The surplus value known as economic rent results when a particular resource or good is fixed in supply (with a vertical supply curve) and market price is higher than what is required to bring the resource or good onto the market and sustain its use. Essentially, demand determines the price level and the magnitude of economic rent that is forthcoming from the market. Exhibit 1 illustrates this concept, where P 1 is the price level that yields a normal profit return to the business that supplies the item. When demand increases from Demand 1 to Demand 2 , price rises to P 2 , where at this higher price level economic rent is created. The amount of this economic rent is calculated as (P 2 – P 1 ) × Q 1 . The firm has not done anything internally to merit this special reward: It benefits from an increase in demand in conjunction with a supply curve that does not fully adjust with an increase in quantity when price rises. Exhibit 1. Economic Rent Because of their limited availability in nature, certain resources—such as land and specialty commodities—possess highly inelastic supply curves in both the short run and long run (shown in Exhibit 1 as a vertical supply curve). When supply is relatively inelastic, a high degree of market demand can result in pricing that creates economic rent. This economic rent results from the fact that when price increases, the quantity supplied does not change or, at the most, increases only slightly. This is because of the fixation of supply by nature or by such artificial constraints as government policy. How is the concept of economic rent useful in financial analysis? Commodities or resources that command economic rent have the potential to reward equity investors more than what is required to attract their capital to that activity, resulting in greater shareholders’ wealth. Evidence of economic rent attracts additional capital funds to the economic endeavor. This new investment capital increases shareholders’ value as investors bid up share prices of existing firms. Any commodity, resource, or good that is fixed or nearly fixed in supply has the potential to yield economic rent. From an analytical perspective, one can obtain industry supply data to calculate the elasticity of supply , which measures the sensitivity of quantity supplied to a change in price. If quantity supplied is relatively unresponsive ( inelastic ) to price changes, then a potential condition exists in the market for economic rent. A reliable forecast of changes in demand can indicate the degree of any economic rent that is forthcoming from the market in the future. When one is analyzing fixed or nearly fixed supply markets (e.g., gold), a fundamental comprehension of demand determinants is necessary to make rational financial decisions based on potential economic rent. EXAMPLE 1 Economic Rent and Investment Decision Making The following market data show the global demand, global supply, and price on an annual basis for gold over the period 2006–2008. Based on the data, what observation can be made about market demand, supply, and economic rent? Year 2006 2007 2008 Percent Change 2006–2008 Supply (in metric tons) 3,569 3,475 3,508 –1.7 Demand (in metric tons) 3,423 3,552 3,805 +11.2 Average spot price (in US$) 603.92 695.39 871.65 +44.3 Source: GFMS and World Gold Council. Solution: The amount of total gold supplied to the world market over this period has actually declined slightly by 1.7 percent during a period when there was a double-digit increase of 11.2 percent in demand. As a consequence, the spot price has dramatically increased by 44.3 percent. Economic rent has resulted from this market relationship of a relatively fixed supply of gold and a rising demand for it. 2.2. Comparison of Profit Measures All three types of profit are interconnected because, according to Equation 4, acco
| status | not read | reprioritisations | ||
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| last reprioritisation on | suggested re-reading day | |||
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Parent (intermediate) annotation
Open itAny commodity, resource, or good that is fixed or nearly fixed in supply has the potential to yield economic rent. From an analytical perspective, one can obtain industry supply data to calculate the elasticity of supply , which measures the sensitivity of quantity supplied to a change in price. If quantity supplied is relatively unresponsive ( inelastic ) to price changes, then a potential condition exists in the market for economic rent. A reliable forecast of changes in dema
Original toplevel document
2. OBJECTIVES OF THE FIRMer competing firms to compete away any economic profit over the long run. Economic profit that exists over the long run is usually found where competitive conditions persistently are less than perfect in the market. <span>2.1.3. Economic Rent The surplus value known as economic rent results when a particular resource or good is fixed in supply (with a vertical supply curve) and market price is higher than what is required to bring the resource or good onto the market and sustain its use. Essentially, demand determines the price level and the magnitude of economic rent that is forthcoming from the market. Exhibit 1 illustrates this concept, where P 1 is the price level that yields a normal profit return to the business that supplies the item. When demand increases from Demand 1 to Demand 2 , price rises to P 2 , where at this higher price level economic rent is created. The amount of this economic rent is calculated as (P 2 – P 1 ) × Q 1 . The firm has not done anything internally to merit this special reward: It benefits from an increase in demand in conjunction with a supply curve that does not fully adjust with an increase in quantity when price rises. Exhibit 1. Economic Rent Because of their limited availability in nature, certain resources—such as land and specialty commodities—possess highly inelastic supply curves in both the short run and long run (shown in Exhibit 1 as a vertical supply curve). When supply is relatively inelastic, a high degree of market demand can result in pricing that creates economic rent. This economic rent results from the fact that when price increases, the quantity supplied does not change or, at the most, increases only slightly. This is because of the fixation of supply by nature or by such artificial constraints as government policy. How is the concept of economic rent useful in financial analysis? Commodities or resources that command economic rent have the potential to reward equity investors more than what is required to attract their capital to that activity, resulting in greater shareholders’ wealth. Evidence of economic rent attracts additional capital funds to the economic endeavor. This new investment capital increases shareholders’ value as investors bid up share prices of existing firms. Any commodity, resource, or good that is fixed or nearly fixed in supply has the potential to yield economic rent. From an analytical perspective, one can obtain industry supply data to calculate the elasticity of supply , which measures the sensitivity of quantity supplied to a change in price. If quantity supplied is relatively unresponsive ( inelastic ) to price changes, then a potential condition exists in the market for economic rent. A reliable forecast of changes in demand can indicate the degree of any economic rent that is forthcoming from the market in the future. When one is analyzing fixed or nearly fixed supply markets (e.g., gold), a fundamental comprehension of demand determinants is necessary to make rational financial decisions based on potential economic rent. EXAMPLE 1 Economic Rent and Investment Decision Making The following market data show the global demand, global supply, and price on an annual basis for gold over the period 2006–2008. Based on the data, what observation can be made about market demand, supply, and economic rent? Year 2006 2007 2008 Percent Change 2006–2008 Supply (in metric tons) 3,569 3,475 3,508 –1.7 Demand (in metric tons) 3,423 3,552 3,805 +11.2 Average spot price (in US$) 603.92 695.39 871.65 +44.3 Source: GFMS and World Gold Council. Solution: The amount of total gold supplied to the world market over this period has actually declined slightly by 1.7 percent during a period when there was a double-digit increase of 11.2 percent in demand. As a consequence, the spot price has dramatically increased by 44.3 percent. Economic rent has resulted from this market relationship of a relatively fixed supply of gold and a rising demand for it. 2.2. Comparison of Profit Measures All three types of profit are interconnected because, according to Equation 4, acco
| status | not read | reprioritisations | ||
|---|---|---|---|---|
| last reprioritisation on | suggested re-reading day | |||
| started reading on | finished reading on |
Parent (intermediate) annotation
Open itonsive ( inelastic ) to price changes, then a potential condition exists in the market for economic rent. A reliable forecast of changes in demand can indicate the degree of any economic rent that is forthcoming from the market in the future. <span>When one is analyzing fixed or nearly fixed supply markets (e.g., gold), a fundamental comprehension of demand determinants is necessary to make rational financial decisions based on potential economic rent.<span><body><html>
Original toplevel document
2. OBJECTIVES OF THE FIRMer competing firms to compete away any economic profit over the long run. Economic profit that exists over the long run is usually found where competitive conditions persistently are less than perfect in the market. <span>2.1.3. Economic Rent The surplus value known as economic rent results when a particular resource or good is fixed in supply (with a vertical supply curve) and market price is higher than what is required to bring the resource or good onto the market and sustain its use. Essentially, demand determines the price level and the magnitude of economic rent that is forthcoming from the market. Exhibit 1 illustrates this concept, where P 1 is the price level that yields a normal profit return to the business that supplies the item. When demand increases from Demand 1 to Demand 2 , price rises to P 2 , where at this higher price level economic rent is created. The amount of this economic rent is calculated as (P 2 – P 1 ) × Q 1 . The firm has not done anything internally to merit this special reward: It benefits from an increase in demand in conjunction with a supply curve that does not fully adjust with an increase in quantity when price rises. Exhibit 1. Economic Rent Because of their limited availability in nature, certain resources—such as land and specialty commodities—possess highly inelastic supply curves in both the short run and long run (shown in Exhibit 1 as a vertical supply curve). When supply is relatively inelastic, a high degree of market demand can result in pricing that creates economic rent. This economic rent results from the fact that when price increases, the quantity supplied does not change or, at the most, increases only slightly. This is because of the fixation of supply by nature or by such artificial constraints as government policy. How is the concept of economic rent useful in financial analysis? Commodities or resources that command economic rent have the potential to reward equity investors more than what is required to attract their capital to that activity, resulting in greater shareholders’ wealth. Evidence of economic rent attracts additional capital funds to the economic endeavor. This new investment capital increases shareholders’ value as investors bid up share prices of existing firms. Any commodity, resource, or good that is fixed or nearly fixed in supply has the potential to yield economic rent. From an analytical perspective, one can obtain industry supply data to calculate the elasticity of supply , which measures the sensitivity of quantity supplied to a change in price. If quantity supplied is relatively unresponsive ( inelastic ) to price changes, then a potential condition exists in the market for economic rent. A reliable forecast of changes in demand can indicate the degree of any economic rent that is forthcoming from the market in the future. When one is analyzing fixed or nearly fixed supply markets (e.g., gold), a fundamental comprehension of demand determinants is necessary to make rational financial decisions based on potential economic rent. EXAMPLE 1 Economic Rent and Investment Decision Making The following market data show the global demand, global supply, and price on an annual basis for gold over the period 2006–2008. Based on the data, what observation can be made about market demand, supply, and economic rent? Year 2006 2007 2008 Percent Change 2006–2008 Supply (in metric tons) 3,569 3,475 3,508 –1.7 Demand (in metric tons) 3,423 3,552 3,805 +11.2 Average spot price (in US$) 603.92 695.39 871.65 +44.3 Source: GFMS and World Gold Council. Solution: The amount of total gold supplied to the world market over this period has actually declined slightly by 1.7 percent during a period when there was a double-digit increase of 11.2 percent in demand. As a consequence, the spot price has dramatically increased by 44.3 percent. Economic rent has resulted from this market relationship of a relatively fixed supply of gold and a rising demand for it. 2.2. Comparison of Profit Measures All three types of profit are interconnected because, according to Equation 4, acco
Flashcard 1450642377996
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itUnder any form of imperfect competition, price to the firm declines when a greater quantity is offered to the market; price to the firm increases when a lower quantity is offered to the market.
Original toplevel document
3. ANALYSIS OF REVENUE, COSTS, AND PROFITSzation requires that we examine both of those components. Revenue comes from the demand for the firm’s products, and cost comes from the acquisition and utilization of the firm’s inputs in the production of those products. <span>3.1.1. Total, Average, and Marginal Revenue This section briefly examines demand and revenue in preparation for addressing cost. Unless the firm is a pure monopolist (i.e., the only seller in its market), there is a difference between market demand and the demand facing an individual firm. A later reading will devote much more time to understanding the various competitive environments (perfect competition, monopolistic competition, oligopoly, and monopoly), known as market structure . To keep the analysis simple at this point, we will note that competition could be either perfect or imperfect. In perfect competition , the individual firm has virtually no impact on market price, because it is assumed to be a very small seller among a very large number of firms selling essentially identical products. Such a firm is called a price taker . In the second case, the firm does have at least some control over the price at which it sells its product because it must lower its price to sell more units. Exhibit 4 presents total, average, and marginal revenue data for a firm under the assumption that the firm is price taker at each relevant level of quantity of goods sold. Consequently, the individual seller faces a horizontal demand curve over relevant output ranges at the price level established by the market (see Exhibit 5). The seller can offer any quantity at this set market price without affecting price. In contrast, imperfect competition is where an individual firm has enough share of the market (or can control a certain segment of the market) and is therefore able to exert some influence over price. Instead of a large number of competing firms, imperfect competition involves a smaller number of firms in the market relative to perfect competition and in the extreme case only one firm (i.e., monopoly). Under any form of imperfect competition, the individual seller confronts a negatively sloped demand curve, where price and the quantity demanded by consumers are inversely related. In this case, price to the firm declines when a greater quantity is offered to the market; price to the firm increases when a lower quantity is offered to the market. This is shown in Exhibits 6 and 7. Exhibit 4. Total, Average, and Marginal Revenue under Perfect Competition Quantity Sold (Q) Price (P) Total Revenue (TR) Average Re
Flashcard 1450644999436
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itBecause price is fixed to the individual seller, the firm’s demand curve is a horizontal line at the point where the market sets the price.
Original toplevel document
Exhibit 5. Total Revenue, Average Revenue, and Marginal Revenue under Perfect CompetitionExhibit 5 graphically displays the revenue data from perfect competition. For an individual firm operating in a market setting of perfect competition, MR equals AR and both are equal to a price that stays the same across all levels of output. <span>Because price is fixed to the individual seller, the firm’s demand curve is a horizontal line at the point where the market sets the price. In Exhibit 5, at a price of 100, P 1 = MR 1 = AR 1 = Demand 1 . Marginal revenue, average revenue, and the firm’s price remain constant until market demand and supply factors cause a
Flashcard 1450646572300
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
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| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itWhen a firm downsizes, the last expense to be cut is usually fixed cost.
Original toplevel document
Costsrate of change in total variable cost. In Exhibit 13, TC at 5 units is 400—of which 300 is variable cost and 100 is fixed cost. At 10 units, total costs are 1,650, which is the sum of 1,550 in variable cost and 100 in fixed cost. <span>Total fixed cost (TFC) is the summation of all expenses that do not change when production varies. It can be a sunk or unavoidable cost that a firm has to cover whether it produces anything or not, or it can be a cost that stays the same over a range of production but can change to another constant level when production moves outside of that range. The latter is referred to as a quasi-fixed cost , although it remains categorized as part of TFC. Examples of fixed costs are debt service, real estate lease agreements, and rental contracts. Quasi-fixed cost examples would be certain utilities and administrative salaries that could be avoided or be lower when output is zero but would assume higher constant values over different production ranges. Normal profit is considered to be a fixed cost because it is a return required by investors on their equity capital regardless of output level. At zero output, total costs are always equal to the amount of total fixed cost that is incurred at this production point. In Exhibit 13, total fixed cost remains at 100 throughout the entire production range. Other fixed costs evolve primarily from investments in such fixed assets as real estate, production facilities, and equipment. As a firm grows in size, fixed asset expansion occurs along with a related increase in fixed cost. However, fixed cost cannot be arbitrarily cut when production declines. Regardless of the volume of output, an investment in a given level of fixed assets locks the firm into a certain amount of fixed cost that is used to finance the physical capital base, technology, and other capital assets. When a firm downsizes, the last expense to be cut is usually fixed cost. Total variable cost (TVC), which is the summation of all variable expenses, has a direct relationship with quantity. When quantity increases, total variable cost increases
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Flashcard 1450654698764
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Open it
Dividing total fixed cost by quantity yields average fixed cost (AFC), which decreases throughout the production span. A declining average fixed cost reflects spreading a constant cost over more and more production units. At high production volumes, AFC may be so low that it is a small proportion of average total cost. In Exhibit 13, AFC declines from 100 at 1 unit, t
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Open it
>Dividing total fixed cost by quantity yields average fixed cost (AFC), which decreases throughout the production span. A declining average fixed cost reflects spreading a constant cost over more and more production units. At high production volumes, AFC may be so low that it is a small proportion of average total cost. In Exhibit 13, AFC declines from 100 at 1 unit, to 20 at 5 units, and then to 10 at an output level of 10 units. <html>
Article 1450658893068
#cfa #cfa-level-1 #economics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit
Average variable cost (AVC) is derived by dividing total variable cost by quantity. For example, average variable cost at 5 units is (300 ÷ 5) or 60. Over an initial range of production, average variable cost declines and then reaches a minimum point. Thereafter, cost increases as the firm utilizes more of its production capacity. This higher cost results primarily from production constraints imposed by the fixed assets at higher volume levels. The minimum point on the AVC coincides with the lowest average variable cost. However, the minimum point on the AVC does not correspond to the least-cost quantity for average total cost. In Exhibit 13, average variable cost is minimized at 2 units, whereas average total cost is the lowest at 3 units. Average total cost (ATC) is calculated by dividing total costs by quantity or by summing average fixed cost and average variable cost. For instance, in Exhibit 13, at 8 units ATC is 125 [calculated as (1,000 ÷ 8) or (AFC + AVC = 12.5 + 112.5)]. Average total cost is
| status | not read | reprioritisations | ||
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Open it
Average variable cost (AVC) is derived by dividing total variable cost by quantity. For example, average variable cost at 5 units is (300 ÷ 5) or 60. Over an initial range of production, average variable cost declines and then reaches a minimum point. Thereafter, cost increases as the firm utilizes more of its production capacity. This higher cost results primarily from production constraints imposed by the fixed assets at higher volume levels. The minimum point on the AVC coincides with the lowest average variable cost. However, the minimum point on the AVC does not correspond to the least-cost quantity for average total cost. In Exhibit 13, average variable cost is minimized at 2 units, whereas average total cost is the lowest at 3 units. Average total cost (ATC) is calculated by dividing total costs by quantity or by summing average fixed cost and average variable cost. For instance, in Exhibit 13, at 8 un
Flashcard 1450662300940
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itOver an initial range of production, average variable cost declines and then reaches a minimum point. Thereafter, cost increases as the firm utilizes more of its production capacity. This higher cost results primarily from production constraints imposed by the fixed assets at higher vo
Original toplevel document
Open itAverage variable cost (AVC) is derived by dividing total variable cost by quantity. For example, average variable cost at 5 units is (300 ÷ 5) or 60. Over an initial range of production, average variable cost declines and then reaches a minimum point. Thereafter, cost increases as the firm utilizes more of its production capacity. This higher cost results primarily from production constraints imposed by the fixed assets at higher volume levels. The minimum point on the AVC coincides with the lowest average variable cost. However, the minimum point on the AVC does not correspond to the least-cost quantity for average total cost. In Exhibit 13, average variable cost is minimized at 2 units, whereas average total cost is the lowest at 3 units. Average total cost (ATC) is calculated by dividing total costs by quantity or by summing average fixed cost and average variable cost. For instance, in Exhibit 13, at 8 un
Flashcard 1450665708812
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itOver an initial range of production, average variable cost declines and then reaches a minimum point. Thereafter, cost increases as the firm utilizes more of its production capacity. This higher cost results primarily from production constraints imposed by the fixed assets at higher volume levels. The minimum point on the AVC coincides with the lowest average varia
Original toplevel document
Open itAverage variable cost (AVC) is derived by dividing total variable cost by quantity. For example, average variable cost at 5 units is (300 ÷ 5) or 60. Over an initial range of production, average variable cost declines and then reaches a minimum point. Thereafter, cost increases as the firm utilizes more of its production capacity. This higher cost results primarily from production constraints imposed by the fixed assets at higher volume levels. The minimum point on the AVC coincides with the lowest average variable cost. However, the minimum point on the AVC does not correspond to the least-cost quantity for average total cost. In Exhibit 13, average variable cost is minimized at 2 units, whereas average total cost is the lowest at 3 units. Average total cost (ATC) is calculated by dividing total costs by quantity or by summing average fixed cost and average variable cost. For instance, in Exhibit 13, at 8 un
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Parent (intermediate) annotation
Open itilizes more of its production capacity. This higher cost results primarily from production constraints imposed by the fixed assets at higher volume levels. The minimum point on the AVC coincides with the lowest average variable cost. However, <span>the minimum point on the AVC does not correspond to the least-cost quantity for average total cost. In Exhibit 13, average variable cost is minimized at 2 units, whereas average total cost is the lowest at 3 units.<span><body><html>
Original toplevel document
Open itAverage variable cost (AVC) is derived by dividing total variable cost by quantity. For example, average variable cost at 5 units is (300 ÷ 5) or 60. Over an initial range of production, average variable cost declines and then reaches a minimum point. Thereafter, cost increases as the firm utilizes more of its production capacity. This higher cost results primarily from production constraints imposed by the fixed assets at higher volume levels. The minimum point on the AVC coincides with the lowest average variable cost. However, the minimum point on the AVC does not correspond to the least-cost quantity for average total cost. In Exhibit 13, average variable cost is minimized at 2 units, whereas average total cost is the lowest at 3 units. Average total cost (ATC) is calculated by dividing total costs by quantity or by summing average fixed cost and average variable cost. For instance, in Exhibit 13, at 8 un
Flashcard 1450669116684
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itthe minimum point on the AVC does not correspond to the least-cost quantity for average total cost.
Original toplevel document
Open itAverage variable cost (AVC) is derived by dividing total variable cost by quantity. For example, average variable cost at 5 units is (300 ÷ 5) or 60. Over an initial range of production, average variable cost declines and then reaches a minimum point. Thereafter, cost increases as the firm utilizes more of its production capacity. This higher cost results primarily from production constraints imposed by the fixed assets at higher volume levels. The minimum point on the AVC coincides with the lowest average variable cost. However, the minimum point on the AVC does not correspond to the least-cost quantity for average total cost. In Exhibit 13, average variable cost is minimized at 2 units, whereas average total cost is the lowest at 3 units. Average total cost (ATC) is calculated by dividing total costs by quantity or by summing average fixed cost and average variable cost. For instance, in Exhibit 13, at 8 un
| status | not read | reprioritisations | ||
|---|---|---|---|---|
| last reprioritisation on | suggested re-reading day | |||
| started reading on | finished reading on |
Parent (intermediate) annotation
Open itOver an initial range of production, average variable cost declines and then reaches a minimum point. Thereafter, cost increases as the firm utilizes more of its production capacity. This higher cost results primarily from production constraints imposed by the fixed assets at higher volume levels. The minimum point on the AVC coincides with the lowest average variable cost. However, the minimum point on the AVC does not correspond to the least-cost quantity for average total cost
Original toplevel document
Open itAverage variable cost (AVC) is derived by dividing total variable cost by quantity. For example, average variable cost at 5 units is (300 ÷ 5) or 60. Over an initial range of production, average variable cost declines and then reaches a minimum point. Thereafter, cost increases as the firm utilizes more of its production capacity. This higher cost results primarily from production constraints imposed by the fixed assets at higher volume levels. The minimum point on the AVC coincides with the lowest average variable cost. However, the minimum point on the AVC does not correspond to the least-cost quantity for average total cost. In Exhibit 13, average variable cost is minimized at 2 units, whereas average total cost is the lowest at 3 units. Average total cost (ATC) is calculated by dividing total costs by quantity or by summing average fixed cost and average variable cost. For instance, in Exhibit 13, at 8 un
Flashcard 1450673310988
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itThe turn to higher cost in AVC results primarily from production constraints imposed by the fixed assets at higher volume levels.
Original toplevel document
Open itAverage variable cost (AVC) is derived by dividing total variable cost by quantity. For example, average variable cost at 5 units is (300 ÷ 5) or 60. Over an initial range of production, average variable cost declines and then reaches a minimum point. Thereafter, cost increases as the firm utilizes more of its production capacity. This higher cost results primarily from production constraints imposed by the fixed assets at higher volume levels. The minimum point on the AVC coincides with the lowest average variable cost. However, the minimum point on the AVC does not correspond to the least-cost quantity for average total cost. In Exhibit 13, average variable cost is minimized at 2 units, whereas average total cost is the lowest at 3 units. Average total cost (ATC) is calculated by dividing total costs by quantity or by summing average fixed cost and average variable cost. For instance, in Exhibit 13, at 8 un
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Open it
cost. However, the minimum point on the AVC does not correspond to the least-cost quantity for average total cost. In Exhibit 13, average variable cost is minimized at 2 units, whereas average total cost is the lowest at 3 units. <span>Average total cost (ATC) is calculated by dividing total costs by quantity or by summing average fixed cost and average variable cost. For instance, in Exhibit 13, at 8 units ATC is 125 [calculated as (1,000 ÷ 8) or (AFC + AVC = 12.5 + 112.5)]. Average total cost is often referenced as per-unit cost and is frequently called average cost. The minimum point on the average total cost curve defines the output level that has the least cost. The cost-minimizing behavior of the firm would dictate operating at the minimum point on its ATC curve. However, the quantity that maximizes profit (such as Q 3 in Exhibit 17) may not correspond to the ATC-minimum point. The minimum point on the ATC curve is consistent with maximizing profit per-unit, but it is not necessarily consistent with maximizing total profit. In Exhibit 13, the least-cost point of production is 3 units; ATC is 75, derived as [(225 ÷ 3) or (33.3 + 41.7)]. Any other production level results in a higher ATC. Marginal cost (MC) is the change in total cost divided by the change in quantity. Marginal cost also can be calculated by taking the change in total variable cost and divi
Flashcard 1450677767436
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itAverage total cost is often referenced as per-unit cost and is frequently called average cost. The minimum point on the average total cost curve defines the output level that has the least cost. The cost-minimizing behavior of the firm would
Original toplevel document
Open itcost. However, the minimum point on the AVC does not correspond to the least-cost quantity for average total cost. In Exhibit 13, average variable cost is minimized at 2 units, whereas average total cost is the lowest at 3 units. <span>Average total cost (ATC) is calculated by dividing total costs by quantity or by summing average fixed cost and average variable cost. For instance, in Exhibit 13, at 8 units ATC is 125 [calculated as (1,000 ÷ 8) or (AFC + AVC = 12.5 + 112.5)]. Average total cost is often referenced as per-unit cost and is frequently called average cost. The minimum point on the average total cost curve defines the output level that has the least cost. The cost-minimizing behavior of the firm would dictate operating at the minimum point on its ATC curve. However, the quantity that maximizes profit (such as Q 3 in Exhibit 17) may not correspond to the ATC-minimum point. The minimum point on the ATC curve is consistent with maximizing profit per-unit, but it is not necessarily consistent with maximizing total profit. In Exhibit 13, the least-cost point of production is 3 units; ATC is 75, derived as [(225 ÷ 3) or (33.3 + 41.7)]. Any other production level results in a higher ATC. Marginal cost (MC) is the change in total cost divided by the change in quantity. Marginal cost also can be calculated by taking the change in total variable cost and divi
| status | not read | reprioritisations | ||
|---|---|---|---|---|
| last reprioritisation on | suggested re-reading day | |||
| started reading on | finished reading on |
Parent (intermediate) annotation
Open itAverage total cost is often referenced as per-unit cost and is frequently called average cost. The minimum point on the average total cost curve defines the output level that has the least cost. The cost-minimizing behavior of the firm would dictate operating at the minimum point on its ATC curve. However, the quantity that maximizes profit (such as Q 3 in Exhibit 17) may not
Original toplevel document
Open itcost. However, the minimum point on the AVC does not correspond to the least-cost quantity for average total cost. In Exhibit 13, average variable cost is minimized at 2 units, whereas average total cost is the lowest at 3 units. <span>Average total cost (ATC) is calculated by dividing total costs by quantity or by summing average fixed cost and average variable cost. For instance, in Exhibit 13, at 8 units ATC is 125 [calculated as (1,000 ÷ 8) or (AFC + AVC = 12.5 + 112.5)]. Average total cost is often referenced as per-unit cost and is frequently called average cost. The minimum point on the average total cost curve defines the output level that has the least cost. The cost-minimizing behavior of the firm would dictate operating at the minimum point on its ATC curve. However, the quantity that maximizes profit (such as Q 3 in Exhibit 17) may not correspond to the ATC-minimum point. The minimum point on the ATC curve is consistent with maximizing profit per-unit, but it is not necessarily consistent with maximizing total profit. In Exhibit 13, the least-cost point of production is 3 units; ATC is 75, derived as [(225 ÷ 3) or (33.3 + 41.7)]. Any other production level results in a higher ATC. Marginal cost (MC) is the change in total cost divided by the change in quantity. Marginal cost also can be calculated by taking the change in total variable cost and divi
Flashcard 1450681175308
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itThe minimum point on the average total cost curve defines the output level that has the least cost.
Original toplevel document
Open itcost. However, the minimum point on the AVC does not correspond to the least-cost quantity for average total cost. In Exhibit 13, average variable cost is minimized at 2 units, whereas average total cost is the lowest at 3 units. <span>Average total cost (ATC) is calculated by dividing total costs by quantity or by summing average fixed cost and average variable cost. For instance, in Exhibit 13, at 8 units ATC is 125 [calculated as (1,000 ÷ 8) or (AFC + AVC = 12.5 + 112.5)]. Average total cost is often referenced as per-unit cost and is frequently called average cost. The minimum point on the average total cost curve defines the output level that has the least cost. The cost-minimizing behavior of the firm would dictate operating at the minimum point on its ATC curve. However, the quantity that maximizes profit (such as Q 3 in Exhibit 17) may not correspond to the ATC-minimum point. The minimum point on the ATC curve is consistent with maximizing profit per-unit, but it is not necessarily consistent with maximizing total profit. In Exhibit 13, the least-cost point of production is 3 units; ATC is 75, derived as [(225 ÷ 3) or (33.3 + 41.7)]. Any other production level results in a higher ATC. Marginal cost (MC) is the change in total cost divided by the change in quantity. Marginal cost also can be calculated by taking the change in total variable cost and divi
| status | not read | reprioritisations | ||
|---|---|---|---|---|
| last reprioritisation on | suggested re-reading day | |||
| started reading on | finished reading on |
Parent (intermediate) annotation
Open itAverage total cost is often referenced as per-unit cost and is frequently called average cost. The minimum point on the average total cost curve defines the output level that has the least cost. The cost-minimizing behavior of the firm would dictate operating at the minimum point on its ATC curve. However, the quantity that maximizes profit (such as Q 3 in Exhibit 17) may not correspond to the ATC-minimum point. The minimum point on the ATC curve is consistent with maximizing pr
Original toplevel document
Open itcost. However, the minimum point on the AVC does not correspond to the least-cost quantity for average total cost. In Exhibit 13, average variable cost is minimized at 2 units, whereas average total cost is the lowest at 3 units. <span>Average total cost (ATC) is calculated by dividing total costs by quantity or by summing average fixed cost and average variable cost. For instance, in Exhibit 13, at 8 units ATC is 125 [calculated as (1,000 ÷ 8) or (AFC + AVC = 12.5 + 112.5)]. Average total cost is often referenced as per-unit cost and is frequently called average cost. The minimum point on the average total cost curve defines the output level that has the least cost. The cost-minimizing behavior of the firm would dictate operating at the minimum point on its ATC curve. However, the quantity that maximizes profit (such as Q 3 in Exhibit 17) may not correspond to the ATC-minimum point. The minimum point on the ATC curve is consistent with maximizing profit per-unit, but it is not necessarily consistent with maximizing total profit. In Exhibit 13, the least-cost point of production is 3 units; ATC is 75, derived as [(225 ÷ 3) or (33.3 + 41.7)]. Any other production level results in a higher ATC. Marginal cost (MC) is the change in total cost divided by the change in quantity. Marginal cost also can be calculated by taking the change in total variable cost and divi
Flashcard 1450686418188
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itThe minimum point on the average total cost curve defines the output level that has the least cost. However, the quantity that maximizes profit may not correspond to the ATC-minimum point.
Original toplevel document
Open itcost. However, the minimum point on the AVC does not correspond to the least-cost quantity for average total cost. In Exhibit 13, average variable cost is minimized at 2 units, whereas average total cost is the lowest at 3 units. <span>Average total cost (ATC) is calculated by dividing total costs by quantity or by summing average fixed cost and average variable cost. For instance, in Exhibit 13, at 8 units ATC is 125 [calculated as (1,000 ÷ 8) or (AFC + AVC = 12.5 + 112.5)]. Average total cost is often referenced as per-unit cost and is frequently called average cost. The minimum point on the average total cost curve defines the output level that has the least cost. The cost-minimizing behavior of the firm would dictate operating at the minimum point on its ATC curve. However, the quantity that maximizes profit (such as Q 3 in Exhibit 17) may not correspond to the ATC-minimum point. The minimum point on the ATC curve is consistent with maximizing profit per-unit, but it is not necessarily consistent with maximizing total profit. In Exhibit 13, the least-cost point of production is 3 units; ATC is 75, derived as [(225 ÷ 3) or (33.3 + 41.7)]. Any other production level results in a higher ATC. Marginal cost (MC) is the change in total cost divided by the change in quantity. Marginal cost also can be calculated by taking the change in total variable cost and divi
| status | not read | reprioritisations | ||
|---|---|---|---|---|
| last reprioritisation on | suggested re-reading day | |||
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Parent (intermediate) annotation
Open ithas the least cost. The cost-minimizing behavior of the firm would dictate operating at the minimum point on its ATC curve. However, the quantity that maximizes profit (such as Q 3 in Exhibit 17) may not correspond to the ATC-minimum point. <span>The minimum point on the ATC curve is consistent with maximizing profit per-unit, but it is not necessarily consistent with maximizing total profit. Any other production level results in a higher ATC.<span><body><html>
Original toplevel document
Open itcost. However, the minimum point on the AVC does not correspond to the least-cost quantity for average total cost. In Exhibit 13, average variable cost is minimized at 2 units, whereas average total cost is the lowest at 3 units. <span>Average total cost (ATC) is calculated by dividing total costs by quantity or by summing average fixed cost and average variable cost. For instance, in Exhibit 13, at 8 units ATC is 125 [calculated as (1,000 ÷ 8) or (AFC + AVC = 12.5 + 112.5)]. Average total cost is often referenced as per-unit cost and is frequently called average cost. The minimum point on the average total cost curve defines the output level that has the least cost. The cost-minimizing behavior of the firm would dictate operating at the minimum point on its ATC curve. However, the quantity that maximizes profit (such as Q 3 in Exhibit 17) may not correspond to the ATC-minimum point. The minimum point on the ATC curve is consistent with maximizing profit per-unit, but it is not necessarily consistent with maximizing total profit. In Exhibit 13, the least-cost point of production is 3 units; ATC is 75, derived as [(225 ÷ 3) or (33.3 + 41.7)]. Any other production level results in a higher ATC. Marginal cost (MC) is the change in total cost divided by the change in quantity. Marginal cost also can be calculated by taking the change in total variable cost and divi
Flashcard 1450689301772
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itThe minimum point on the ATC curve is consistent with maximizing profit per-unit, but it is not necessarily consistent with maximizing total profit.
Original toplevel document
Open itcost. However, the minimum point on the AVC does not correspond to the least-cost quantity for average total cost. In Exhibit 13, average variable cost is minimized at 2 units, whereas average total cost is the lowest at 3 units. <span>Average total cost (ATC) is calculated by dividing total costs by quantity or by summing average fixed cost and average variable cost. For instance, in Exhibit 13, at 8 units ATC is 125 [calculated as (1,000 ÷ 8) or (AFC + AVC = 12.5 + 112.5)]. Average total cost is often referenced as per-unit cost and is frequently called average cost. The minimum point on the average total cost curve defines the output level that has the least cost. The cost-minimizing behavior of the firm would dictate operating at the minimum point on its ATC curve. However, the quantity that maximizes profit (such as Q 3 in Exhibit 17) may not correspond to the ATC-minimum point. The minimum point on the ATC curve is consistent with maximizing profit per-unit, but it is not necessarily consistent with maximizing total profit. In Exhibit 13, the least-cost point of production is 3 units; ATC is 75, derived as [(225 ÷ 3) or (33.3 + 41.7)]. Any other production level results in a higher ATC. Marginal cost (MC) is the change in total cost divided by the change in quantity. Marginal cost also can be calculated by taking the change in total variable cost and divi
| status | not read | reprioritisations | ||
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Open it
it is not necessarily consistent with maximizing total profit. In Exhibit 13, the least-cost point of production is 3 units; ATC is 75, derived as [(225 ÷ 3) or (33.3 + 41.7)]. Any other production level results in a higher ATC. <span>Marginal cost (MC) is the change in total cost divided by the change in quantity. Marginal cost also can be calculated by taking the change in total variable cost and dividing by the change in quantity. It represents the cost of producing an additional unit. For example, at 9 units marginal cost is 300, calculated as [(1,300 – 1,000) ÷ (9 – 8)]. Marginal cost follows a J-shaped pattern whereby cost initially declines but turns higher at some point in reflection of rising costs at higher production volumes. In Exhibit 13, MC is the lowest at 2 units of output with a value of 25, derived as [(175 – 150) ÷ (2 – 1)]. <span><body><html>
Flashcard 1450693496076
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itMarginal cost follows a J-shaped pattern whereby cost initially declines but turns higher at some point in reflection of rising costs at higher production volumes.
Original toplevel document
Open itit is not necessarily consistent with maximizing total profit. In Exhibit 13, the least-cost point of production is 3 units; ATC is 75, derived as [(225 ÷ 3) or (33.3 + 41.7)]. Any other production level results in a higher ATC. <span>Marginal cost (MC) is the change in total cost divided by the change in quantity. Marginal cost also can be calculated by taking the change in total variable cost and dividing by the change in quantity. It represents the cost of producing an additional unit. For example, at 9 units marginal cost is 300, calculated as [(1,300 – 1,000) ÷ (9 – 8)]. Marginal cost follows a J-shaped pattern whereby cost initially declines but turns higher at some point in reflection of rising costs at higher production volumes. In Exhibit 13, MC is the lowest at 2 units of output with a value of 25, derived as [(175 – 150) ÷ (2 – 1)]. <span><body><html>
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Open it
Exhibit 17 displays the firm’s supply curve, shutdown point, and breakeven level of operation under perfect competition in the short run. The firm’s short-run supply curve is the bold section of the marginal cost curve that lies above the minimum point (point A) on the average variable cost curve. If the firm operates below this point (for example between C and A), it shuts down because of its inability to cover variable costs in full. Between points A and B, the firm can operate in the short run because it is meeting variable cost payments even though it is unable to cover all of its fixed costs. In the long run, how
Flashcard 1450701360396
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itThe firm’s short-run supply curve is the bold section of the marginal cost curve that lies above the minimum point (point A) on the average variable cost curve. If the firm operates below this point (for example between
Original toplevel document
Open itExhibit 17 displays the firm’s supply curve, shutdown point, and breakeven level of operation under perfect competition in the short run. The firm’s short-run supply curve is the bold section of the marginal cost curve that lies above the minimum point (point A) on the average variable cost curve. If the firm operates below this point (for example between C and A), it shuts down because of its inability to cover variable costs in full. Between points A and B, the firm can operate in the short run because it is meeting variable cost payments even though it is unable to cover all of its fixed costs. In the long run, how
Flashcard 1450703719692
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itpan>The firm’s short-run supply curve is the bold section of the marginal cost curve that lies above the minimum point (point A) on the average variable cost curve. If the firm operates below this point (for example between C and A), it shuts down because of its inability to cover variable costs in full.<span><body><html>
Original toplevel document
Open itExhibit 17 displays the firm’s supply curve, shutdown point, and breakeven level of operation under perfect competition in the short run. The firm’s short-run supply curve is the bold section of the marginal cost curve that lies above the minimum point (point A) on the average variable cost curve. If the firm operates below this point (for example between C and A), it shuts down because of its inability to cover variable costs in full. Between points A and B, the firm can operate in the short run because it is meeting variable cost payments even though it is unable to cover all of its fixed costs. In the long run, how
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Open it
e marginal cost curve that lies above the minimum point (point A) on the average variable cost curve. If the firm operates below this point (for example between C and A), it shuts down because of its inability to cover variable costs in full. <span>Between points A and B, the firm can operate in the short run because it is meeting variable cost payments even though it is unable to cover all of its fixed costs. In the long run, however, the firm is not able to survive if fixed costs are not completely covered. Any operating point above point B (the minimum point on ATC), such as point D, gener
Flashcard 1450707127564
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itBetween points A and B, the firm can operate in the short run because it is meeting variable cost payments even though it is unable to cover all of its fixed costs.
Original toplevel document
Open ite marginal cost curve that lies above the minimum point (point A) on the average variable cost curve. If the firm operates below this point (for example between C and A), it shuts down because of its inability to cover variable costs in full. <span>Between points A and B, the firm can operate in the short run because it is meeting variable cost payments even though it is unable to cover all of its fixed costs. In the long run, however, the firm is not able to survive if fixed costs are not completely covered. Any operating point above point B (the minimum point on ATC), such as point D, gener
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Open it
d A), it shuts down because of its inability to cover variable costs in full. Between points A and B, the firm can operate in the short run because it is meeting variable cost payments even though it is unable to cover all of its fixed costs. <span>In the long run, however, the firm is not able to survive if fixed costs are not completely covered. Any operating point above point B (the minimum point on ATC), such as point D, generates an economic profit. A firm’s shutdown point occurs when average revenue is less than average variable cost (any output below Q shutdown ), which corresponds to point A in Exhibit 17. Shutdow
Flashcard 1450710535436
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itIn the long run, however, the firm is not able to survive if fixed costs are not completely covered. Any operating point above point B (the minimum point on ATC), such as point D, generates an economic profit.
Original toplevel document
Open itd A), it shuts down because of its inability to cover variable costs in full. Between points A and B, the firm can operate in the short run because it is meeting variable cost payments even though it is unable to cover all of its fixed costs. <span>In the long run, however, the firm is not able to survive if fixed costs are not completely covered. Any operating point above point B (the minimum point on ATC), such as point D, generates an economic profit. A firm’s shutdown point occurs when average revenue is less than average variable cost (any output below Q shutdown ), which corresponds to point A in Exhibit 17. Shutdow
Flashcard 1450712894732
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itIn the long run, however, the firm is not able to survive if fixed costs are not completely covered. Any operating point above point B (the minimum point on ATC), such as point D, generates an economic profit.
Original toplevel document
Open itd A), it shuts down because of its inability to cover variable costs in full. Between points A and B, the firm can operate in the short run because it is meeting variable cost payments even though it is unable to cover all of its fixed costs. <span>In the long run, however, the firm is not able to survive if fixed costs are not completely covered. Any operating point above point B (the minimum point on ATC), such as point D, generates an economic profit. A firm’s shutdown point occurs when average revenue is less than average variable cost (any output below Q shutdown ), which corresponds to point A in Exhibit 17. Shutdow
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of its fixed costs. In the long run, however, the firm is not able to survive if fixed costs are not completely covered. Any operating point above point B (the minimum point on ATC), such as point D, generates an economic profit. <span>A firm’s shutdown point occurs when average revenue is less than average variable cost (any output below Q shutdown ), which corresponds to point A in Exhibit 17. Shutdown is defined as a situation in which the firm stops production but still confronts the payment of fixed costs in the short run as a business entity. In the short run, a business
Flashcard 1450717351180
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itA firm’s shutdown point occurs when average revenue is less than average variable cost (any output below Q shutdown ), which corresponds to point A.
Original toplevel document
Open itof its fixed costs. In the long run, however, the firm is not able to survive if fixed costs are not completely covered. Any operating point above point B (the minimum point on ATC), such as point D, generates an economic profit. <span>A firm’s shutdown point occurs when average revenue is less than average variable cost (any output below Q shutdown ), which corresponds to point A in Exhibit 17. Shutdown is defined as a situation in which the firm stops production but still confronts the payment of fixed costs in the short run as a business entity. In the short run, a business
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Open it
um point on ATC), such as point D, generates an economic profit. A firm’s shutdown point occurs when average revenue is less than average variable cost (any output below Q shutdown ), which corresponds to point A in Exhibit 17. <span>Shutdown is defined as a situation in which the firm stops production but still confronts the payment of fixed costs in the short run as a business entity. In the short run, a business is capable of operating in a loss situation as long as it covers its variable costs even though it is not earning sufficient revenue to cover all fixed cost
Flashcard 1450720759052
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itShutdown is defined as a situation in which the firm stops production but still confronts the payment of fixed costs in the short run as a business entity.
Original toplevel document
Open itum point on ATC), such as point D, generates an economic profit. A firm’s shutdown point occurs when average revenue is less than average variable cost (any output below Q shutdown ), which corresponds to point A in Exhibit 17. <span>Shutdown is defined as a situation in which the firm stops production but still confronts the payment of fixed costs in the short run as a business entity. In the short run, a business is capable of operating in a loss situation as long as it covers its variable costs even though it is not earning sufficient revenue to cover all fixed cost
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Open it
iable cost (any output below Q shutdown ), which corresponds to point A in Exhibit 17. Shutdown is defined as a situation in which the firm stops production but still confronts the payment of fixed costs in the short run as a business entity. <span>In the short run, a business is capable of operating in a loss situation as long as it covers its variable costs even though it is not earning sufficient revenue to cover all fixed cost obligations. If variable costs cannot be covered in the short run (P < AVC), the firm will shut down operations and simply absorb the unavoidable fixed costs. This problem occurs at output Q 1 ,
Flashcard 1450723380492
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itIn the short run, a business is capable of operating in a loss situation as long as it covers its variable costs even though it is not earning sufficient revenue to cover all fixed cost obligations.
Original toplevel document
Open itiable cost (any output below Q shutdown ), which corresponds to point A in Exhibit 17. Shutdown is defined as a situation in which the firm stops production but still confronts the payment of fixed costs in the short run as a business entity. <span>In the short run, a business is capable of operating in a loss situation as long as it covers its variable costs even though it is not earning sufficient revenue to cover all fixed cost obligations. If variable costs cannot be covered in the short run (P < AVC), the firm will shut down operations and simply absorb the unavoidable fixed costs. This problem occurs at output Q 1 ,
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Open it
osts in the short run as a business entity. In the short run, a business is capable of operating in a loss situation as long as it covers its variable costs even though it is not earning sufficient revenue to cover all fixed cost obligations. <span>If variable costs cannot be covered in the short run (P < AVC), the firm will shut down operations and simply absorb the unavoidable fixed costs. This problem occurs at output Q 1 , which corresponds to point C where price is less than average variable cost. However, in the long run, to remain in business, the price must cover al
Flashcard 1450726788364
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itIf variable costs cannot be covered in the short run (P < AVC), the firm will shut down operations and simply absorb the unavoidable fixed costs.
Original toplevel document
Open itosts in the short run as a business entity. In the short run, a business is capable of operating in a loss situation as long as it covers its variable costs even though it is not earning sufficient revenue to cover all fixed cost obligations. <span>If variable costs cannot be covered in the short run (P < AVC), the firm will shut down operations and simply absorb the unavoidable fixed costs. This problem occurs at output Q 1 , which corresponds to point C where price is less than average variable cost. However, in the long run, to remain in business, the price must cover al
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Open it
osts in the short run as a business entity. In the short run, a business is capable of operating in a loss situation as long as it covers its variable costs even though it is not earning sufficient revenue to cover all fixed cost obligations. <span>If variable costs cannot be covered in the short run (P < AVC), the firm will shut down operations and simply absorb the unavoidable fixed costs. This problem occurs at output Q 1 , which corresponds to point C where price is less than average variable cost. However, in the long run, to remain in business, the price must cover all costs. Therefore, in the long run, at any price below the breakeven point, the firm will exit the market, i.e.,
Flashcard 1450730196236
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itIf P < AVC, the firm will shut down operations and simply absorb the unavoidable fixed costs. This problem occurs at output Q 1 , which corresponds to point C where price is less than average variable cost.
Original toplevel document
Open itosts in the short run as a business entity. In the short run, a business is capable of operating in a loss situation as long as it covers its variable costs even though it is not earning sufficient revenue to cover all fixed cost obligations. <span>If variable costs cannot be covered in the short run (P < AVC), the firm will shut down operations and simply absorb the unavoidable fixed costs. This problem occurs at output Q 1 , which corresponds to point C where price is less than average variable cost. However, in the long run, to remain in business, the price must cover all costs. Therefore, in the long run, at any price below the breakeven point, the firm will exit the market, i.e.,
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Open it
covered in the short run (P < AVC), the firm will shut down operations and simply absorb the unavoidable fixed costs. This problem occurs at output Q 1 , which corresponds to point C where price is less than average variable cost. However, <span>in the long run, to remain in business, the price must cover all costs. Therefore, in the long run, at any price below the breakeven point, the firm will exit the market, i.e., the firm will no longer participate in the market. Point D, which corresponds to
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Open it
y absorb the unavoidable fixed costs. This problem occurs at output Q 1 , which corresponds to point C where price is less than average variable cost. However, in the long run, to remain in business, the price must cover all costs. Therefore, <span>in the long run, at any price below the breakeven point, the firm will exit the market, i.e., the firm will no longer participate in the market. Point D, which corresponds to output Q 3 , is a position where economic profit occurs because price is greater than ATC. In the case of perfect competition, th
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Open it
cost. However, in the long run, to remain in business, the price must cover all costs. Therefore, in the long run, at any price below the breakeven point, the firm will exit the market, i.e., the firm will no longer participate in the market. <span>Point D, which corresponds to output Q 3 , is a position where economic profit occurs because price is greater than ATC. In the case of perfect competition, the breakeven point is the quantity where price, average revenue, and marginal revenue equal average total cost. It is al
Flashcard 1450737274124
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itPoint D, which corresponds to output Q 3 , is a position where economic profit occurs because price is greater than ATC.
Original toplevel document
Open itcost. However, in the long run, to remain in business, the price must cover all costs. Therefore, in the long run, at any price below the breakeven point, the firm will exit the market, i.e., the firm will no longer participate in the market. <span>Point D, which corresponds to output Q 3 , is a position where economic profit occurs because price is greater than ATC. In the case of perfect competition, the breakeven point is the quantity where price, average revenue, and marginal revenue equal average total cost. It is al
Flashcard 1450739633420
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itin the long run, at any price below the breakeven point, the firm will exit the market, i.e., the firm will no longer participate in the market.
Original toplevel document
Open ity absorb the unavoidable fixed costs. This problem occurs at output Q 1 , which corresponds to point C where price is less than average variable cost. However, in the long run, to remain in business, the price must cover all costs. Therefore, <span>in the long run, at any price below the breakeven point, the firm will exit the market, i.e., the firm will no longer participate in the market. Point D, which corresponds to output Q 3 , is a position where economic profit occurs because price is greater than ATC. In the case of perfect competition, th
Flashcard 1450741992716
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itin the long run, to remain in business, the price must cover all costs.
Original toplevel document
Open itcovered in the short run (P < AVC), the firm will shut down operations and simply absorb the unavoidable fixed costs. This problem occurs at output Q 1 , which corresponds to point C where price is less than average variable cost. However, <span>in the long run, to remain in business, the price must cover all costs. Therefore, in the long run, at any price below the breakeven point, the firm will exit the market, i.e., the firm will no longer participate in the market. Point D, which corresponds to
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Open it
point, the firm will exit the market, i.e., the firm will no longer participate in the market. Point D, which corresponds to output Q 3 , is a position where economic profit occurs because price is greater than ATC. <span>In the case of perfect competition, the breakeven point is the quantity where price, average revenue, and marginal revenue equal average total cost. It is also defined as the quantity where total revenue equals total costs. Firms strive to reach initial breakeven as soon as possible to avoid start-up losses for any extended period o
Flashcard 1450744614156
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itIn the case of perfect competition, the breakeven point is the quantity where price, average revenue, and marginal revenue equal average total cost.
Original toplevel document
Open itpoint, the firm will exit the market, i.e., the firm will no longer participate in the market. Point D, which corresponds to output Q 3 , is a position where economic profit occurs because price is greater than ATC. <span>In the case of perfect competition, the breakeven point is the quantity where price, average revenue, and marginal revenue equal average total cost. It is also defined as the quantity where total revenue equals total costs. Firms strive to reach initial breakeven as soon as possible to avoid start-up losses for any extended period o
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Open it
n where economic profit occurs because price is greater than ATC. In the case of perfect competition, the breakeven point is the quantity where price, average revenue, and marginal revenue equal average total cost. <span>It is also defined as the quantity where total revenue equals total costs. Firms strive to reach initial breakeven as soon as possible to avoid start-up losses for any extended period of time. When businesses are first established, there is an initial period where losses occur at low quantity levels. In Exhibit 17, the breakeven quantity occurs at output Q BE , which correspo
Flashcard 1450748022028
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itIn thecase of perfect competition, breakeven point is also defined as the quantity where total revenue equals total costs. Firms strive to reach initial breakeven as soon as possible to avoid start-up losses for any extended period of time.
Original toplevel document
Open itn where economic profit occurs because price is greater than ATC. In the case of perfect competition, the breakeven point is the quantity where price, average revenue, and marginal revenue equal average total cost. <span>It is also defined as the quantity where total revenue equals total costs. Firms strive to reach initial breakeven as soon as possible to avoid start-up losses for any extended period of time. When businesses are first established, there is an initial period where losses occur at low quantity levels. In Exhibit 17, the breakeven quantity occurs at output Q BE , which correspo
Flashcard 1450750381324
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itIn thecase of perfect competition, breakeven point is also defined as the quantity where total revenue equals total costs. Firms strive to reach initial breakeven as soon as possible to avoid start-up losses for any extended period of time.
Original toplevel document
Open itn where economic profit occurs because price is greater than ATC. In the case of perfect competition, the breakeven point is the quantity where price, average revenue, and marginal revenue equal average total cost. <span>It is also defined as the quantity where total revenue equals total costs. Firms strive to reach initial breakeven as soon as possible to avoid start-up losses for any extended period of time. When businesses are first established, there is an initial period where losses occur at low quantity levels. In Exhibit 17, the breakeven quantity occurs at output Q BE , which correspo
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Open it
Firms strive to reach initial breakeven as soon as possible to avoid start-up losses for any extended period of time. When businesses are first established, there is an initial period where losses occur at low quantity levels. In Exhibit 17, <span>the breakeven quantity occurs at output Q BE , which corresponds to point B where price is tangent to the minimum point on the ATC. (Keep in mind that normal profit as an implicit cost is included in ATC as a fixed cost.) Exhibit 18 shows the breakeven point under perfect competition using the total rev
Flashcard 1450754575628
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itIn this example the breakeven quantity occurs at output Q BE , which corresponds to point B where price is tangent to the minimum point on the ATC.
Original toplevel document
Open itFirms strive to reach initial breakeven as soon as possible to avoid start-up losses for any extended period of time. When businesses are first established, there is an initial period where losses occur at low quantity levels. In Exhibit 17, <span>the breakeven quantity occurs at output Q BE , which corresponds to point B where price is tangent to the minimum point on the ATC. (Keep in mind that normal profit as an implicit cost is included in ATC as a fixed cost.) Exhibit 18 shows the breakeven point under perfect competition using the total rev
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Open it
es are first established, there is an initial period where losses occur at low quantity levels. In Exhibit 17, the breakeven quantity occurs at output Q BE , which corresponds to point B where price is tangent to the minimum point on the ATC. <span>(Keep in mind that normal profit as an implicit cost is included in ATC as a fixed cost.) Exhibit 18 shows the breakeven point under perfect competition using the total revenue–total cost approach. Actually, there are two breakeven points—lower (point E) and upp
Flashcard 1450757983500
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open it(Keep in mind that normal profit as an implicit cost is included in ATC as a fixed cost.)
Original toplevel document
Open ites are first established, there is an initial period where losses occur at low quantity levels. In Exhibit 17, the breakeven quantity occurs at output Q BE , which corresponds to point B where price is tangent to the minimum point on the ATC. <span>(Keep in mind that normal profit as an implicit cost is included in ATC as a fixed cost.) Exhibit 18 shows the breakeven point under perfect competition using the total revenue–total cost approach. Actually, there are two breakeven points—lower (point E) and upp
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Open it
Exhibit 18 shows the breakeven point under perfect competition using the total revenue–total cost approach. Actually, there are two breakeven points—lower (point E) and upper (point F). Below point E, the firm is losing money (economic losses), and beyond that point is the region of profitabi
Flashcard 1450765585676
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itThis shows the breakeven point under perfect competition using the total revenue–total cost approach.
Original toplevel document
Open itExhibit 18 shows the breakeven point under perfect competition using the total revenue–total cost approach. Actually, there are two breakeven points—lower (point E) and upper (point F). Below point E, the firm is losing money (economic losses), and beyond that point is the region of profitabi
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Open it
Exhibit 18 shows the breakeven point under perfect competition using the total revenue–total cost approach. Actually, there are two breakeven points—lower (point E) and upper (point F). Below point E, the firm is losing money (economic losses), and beyond that point is the region of profitability (shaded area) that extends to the upper breakeven point. Within this prof
Flashcard 1450768207116
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itthere are two breakeven points—lower (point E) and upper (point F).
Original toplevel document
Open itExhibit 18 shows the breakeven point under perfect competition using the total revenue–total cost approach. Actually, there are two breakeven points—lower (point E) and upper (point F). Below point E, the firm is losing money (economic losses), and beyond that point is the region of profitability (shaded area) that extends to the upper breakeven point. Within this prof
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Open it
Exhibit 18 shows the breakeven point under perfect competition using the total revenue–total cost approach. Actually, there are two breakeven points—lower (point E) and upper (point F). Below point E, the firm is losing money (economic losses), and beyond that point is the region of profitability (shaded area) that extends to the upper breakeven point. Within this profit area, a specific quantity (Q max ) maximizes profit as the largest difference between TR and TC. Point F is where the firm leaves the profit region and incurs economi
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Open it
ally, there are two breakeven points—lower (point E) and upper (point F). Below point E, the firm is losing money (economic losses), and beyond that point is the region of profitability (shaded area) that extends to the upper breakeven point. <span>Within this profit area, a specific quantity (Q max ) maximizes profit as the largest difference between TR and TC. Point F is where the firm leaves the profit region and incurs economic losses again. This second region of economic losses develops when the firm’s production begins to reach the limit
Flashcard 1450772663564
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Parent (intermediate) annotation
Open itWithin this profit area, a specific quantity (Q max ) maximizes profit as the largest difference between TR and TC
Original toplevel document
Open itally, there are two breakeven points—lower (point E) and upper (point F). Below point E, the firm is losing money (economic losses), and beyond that point is the region of profitability (shaded area) that extends to the upper breakeven point. <span>Within this profit area, a specific quantity (Q max ) maximizes profit as the largest difference between TR and TC. Point F is where the firm leaves the profit region and incurs economic losses again. This second region of economic losses develops when the firm’s production begins to reach the limit
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hat extends to the upper breakeven point. Within this profit area, a specific quantity (Q max ) maximizes profit as the largest difference between TR and TC. Point F is where the firm leaves the profit region and incurs economic losses again. <span>This second region of economic losses develops when the firm’s production begins to reach the limits of physical capacity, resulting in diminished productivity and an acceleration of costs. Obviously, the firm would not produce beyond Q max because it is the optimal production point that maximizes profit. Breakeven points, profit regions, and economic loss rang
Flashcard 1450776071436
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Open itThe second region of economic losses (after point F) develops when the firm’s production begins to reach the limits of physical capacity, resulting in diminished productivity and an acceleration of costs.
Original toplevel document
Open ithat extends to the upper breakeven point. Within this profit area, a specific quantity (Q max ) maximizes profit as the largest difference between TR and TC. Point F is where the firm leaves the profit region and incurs economic losses again. <span>This second region of economic losses develops when the firm’s production begins to reach the limits of physical capacity, resulting in diminished productivity and an acceleration of costs. Obviously, the firm would not produce beyond Q max because it is the optimal production point that maximizes profit. Breakeven points, profit regions, and economic loss rang
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the profit region and incurs economic losses again. This second region of economic losses develops when the firm’s production begins to reach the limits of physical capacity, resulting in diminished productivity and an acceleration of costs. <span>Obviously, the firm would not produce beyond Q max because it is the optimal production point that maximizes profit. Breakeven points, profit regions, and economic loss ranges are influenced by demand and supply conditions, which change frequently according to the market behavior of consume
Flashcard 1450778692876
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
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Open itObviously, the firm would not produce beyond Q max because it is the optimal production point that maximizes profit.
Original toplevel document
Open itthe profit region and incurs economic losses again. This second region of economic losses develops when the firm’s production begins to reach the limits of physical capacity, resulting in diminished productivity and an acceleration of costs. <span>Obviously, the firm would not produce beyond Q max because it is the optimal production point that maximizes profit. Breakeven points, profit regions, and economic loss ranges are influenced by demand and supply conditions, which change frequently according to the market behavior of consume
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gins to reach the limits of physical capacity, resulting in diminished productivity and an acceleration of costs. Obviously, the firm would not produce beyond Q max because it is the optimal production point that maximizes profit. <span>Breakeven points, profit regions, and economic loss ranges are influenced by demand and supply conditions, which change frequently according to the market behavior of consumers and firms. A high initial breakeven point is riskier than a low point because it takes a larger volume and, usually, a longer time to reach. However, at higher output levels it yields more return
Flashcard 1450781314316
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Parent (intermediate) annotation
Open itBreakeven points, profit regions, and economic loss ranges are influenced by demand and supply conditions, which change frequently according to the market behavior of consumers and firms.
Original toplevel document
Open itgins to reach the limits of physical capacity, resulting in diminished productivity and an acceleration of costs. Obviously, the firm would not produce beyond Q max because it is the optimal production point that maximizes profit. <span>Breakeven points, profit regions, and economic loss ranges are influenced by demand and supply conditions, which change frequently according to the market behavior of consumers and firms. A high initial breakeven point is riskier than a low point because it takes a larger volume and, usually, a longer time to reach. However, at higher output levels it yields more return
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mal production point that maximizes profit. Breakeven points, profit regions, and economic loss ranges are influenced by demand and supply conditions, which change frequently according to the market behavior of consumers and firms. <span>A high initial breakeven point is riskier than a low point because it takes a larger volume and, usually, a longer time to reach. However, at higher output levels it yields more return in compensation for this greater risk.<span><body><html>
Flashcard 1450784722188
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Open itA high initial breakeven point is riskier than a low point because it takes a larger volume and, usually, a longer time to reach. However, at higher output levels it yields more return in compensation for this greate
Original toplevel document
Open itmal production point that maximizes profit. Breakeven points, profit regions, and economic loss ranges are influenced by demand and supply conditions, which change frequently according to the market behavior of consumers and firms. <span>A high initial breakeven point is riskier than a low point because it takes a larger volume and, usually, a longer time to reach. However, at higher output levels it yields more return in compensation for this greater risk.<span><body><html>
Flashcard 1450787081484
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
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Parent (intermediate) annotation
Open itA high initial breakeven point is riskier than a low point because it takes a larger volume and, usually, a longer time to reach. However, at higher output levels it yields more return in compensation for this greater risk.
Original toplevel document
Open itmal production point that maximizes profit. Breakeven points, profit regions, and economic loss ranges are influenced by demand and supply conditions, which change frequently according to the market behavior of consumers and firms. <span>A high initial breakeven point is riskier than a low point because it takes a larger volume and, usually, a longer time to reach. However, at higher output levels it yields more return in compensation for this greater risk.<span><body><html>
Flashcard 1450789440780
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Flashcard 1450793110796
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Open itLa planeación consiste en prever el futuro para tomar en el presente las decisiones que permitan alcanzarlo de forma eficiente; define el futuro y anticipa el impacto en la empresa de los cambios del entorno, para mitigarlos
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Flashcard 1450799402252
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Open itLa planeación identifica las distintas rutas a seguir y la forma de alcanzar los objetivos, a través de decisiones y acciones, cuya base de está fundamentada en la estrategia de negocios.
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Flashcard 1450802810124
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Open itLa planeación enfoca a toda la organización en la estrategia y dirigie los esfuerzos hacia un fin conjunto, conocido y aceptado por todas las areas.
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Flashcard 1450807004428
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Open itLa planeación empresarial es la forma en que la empresa va a lograr los objetivos emanados de las estrategias de negocios previamente definidas.
Original toplevel document (pdf)
cannot see any pdfsArticle 1450809101580
Estrategia de negocios y corporativa
#estrategias
Estrategia corporativa La estrategia corporativa conlleva tomar decisiones que se hacen con respecto a la dirección de la organización en su conjunto. Esta estrategia se refiere a los asuntos que afectan a la empresa en general, tales como decidir el tamaño y la composición del portafolio de negocios. Estrategia de negocios La estrategia de negocios es la forma en que un negocio compite en un sector particular. Las decisiones estratégicas adoptadas a nivel negocio tienen que ver con asuntos tales como la fijación de precios y la eficacia en la fabricación y la publicidad. La estrategia de negocios se basa principalmente en la obtención de una ventaja competitiva en el mercado .
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Estrategia de negocios y corporativa
Estrategia corporativa La estrategia corporativa conlleva tomar decisiones que se hacen con respecto a la dirección de la organización en su conjunto. Esta estrategia se refiere a los asuntos que afectan a la empresa en general, tales como decidir el tamaño y la composición del portafolio de negocios. Estrategia de negocios La estrategia de negocios es la forma en que un negocio compite en un sector particular. Las decisiones estratégicas adop
Flashcard 1450812247308
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Open itLa estrategia corporativa conlleva tomar decisiones que se hacen con respecto a la dirección de la organización en su conjunto. Esta estrategia se refiere a los asuntos que afectan a la empresa en general, tales
Original toplevel document
Estrategia de negocios y corporativaEstrategia corporativa La estrategia corporativa conlleva tomar decisiones que se hacen con respecto a la dirección de la organización en su conjunto. Esta estrategia se refiere a los asuntos que afectan a la empresa en general, tales como decidir el tamaño y la composición del portafolio de negocios. Estrategia de negocios La estrategia de negocios es la forma en que un negocio compite en un sector particular. Las decisiones estratégicas adop
Flashcard 1450814606604
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Open itLa estrategia corporativa conlleva tomar decisiones que se hacen con respecto a la dirección de la organización en su conjunto. Esta estrategia se refiere a los asuntos que afectan a la empresa en general, tales
Original toplevel document
Estrategia de negocios y corporativaEstrategia corporativa La estrategia corporativa conlleva tomar decisiones que se hacen con respecto a la dirección de la organización en su conjunto. Esta estrategia se refiere a los asuntos que afectan a la empresa en general, tales como decidir el tamaño y la composición del portafolio de negocios. Estrategia de negocios La estrategia de negocios es la forma en que un negocio compite en un sector particular. Las decisiones estratégicas adop
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Estrategia de negocios y corporativa
respecto a la dirección de la organización en su conjunto. Esta estrategia se refiere a los asuntos que afectan a la empresa en general, tales como decidir el tamaño y la composición del portafolio de negocios. <span>Estrategia de negocios La estrategia de negocios es la forma en que un negocio compite en un sector particular. Las decisiones estratégicas adoptadas a nivel negocio tienen que ver con asuntos tales como la fijación de precios y la eficacia en la fabricación y la publicidad. La estrategia de negocios se basa principalmente en la obtención de una ventaja competitiva en el mercado . <span><body><html>
Flashcard 1450818800908
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Open itLa estrategia de negocios es la forma en que un negocio compite en un sector particular. Las decisiones estratégicas adoptadas a nivel negocio tienen que ver con asuntos tales como la fijación de precios y la ef
Original toplevel document
Estrategia de negocios y corporativarespecto a la dirección de la organización en su conjunto. Esta estrategia se refiere a los asuntos que afectan a la empresa en general, tales como decidir el tamaño y la composición del portafolio de negocios. <span>Estrategia de negocios La estrategia de negocios es la forma en que un negocio compite en un sector particular. Las decisiones estratégicas adoptadas a nivel negocio tienen que ver con asuntos tales como la fijación de precios y la eficacia en la fabricación y la publicidad. La estrategia de negocios se basa principalmente en la obtención de una ventaja competitiva en el mercado . <span><body><html>
Flashcard 1450821160204
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Open itLa estrategia de negocios es la forma en que un negocio compite en un sector particular. Las decisiones estratégicas adoptadas a nivel negocio tienen que ver con asuntos tales como la fijación de precios y la eficacia en la fabricación y la publicidad. La estrategia de negocios se basa principalmente en la obtención de una ven
Original toplevel document
Estrategia de negocios y corporativarespecto a la dirección de la organización en su conjunto. Esta estrategia se refiere a los asuntos que afectan a la empresa en general, tales como decidir el tamaño y la composición del portafolio de negocios. <span>Estrategia de negocios La estrategia de negocios es la forma en que un negocio compite en un sector particular. Las decisiones estratégicas adoptadas a nivel negocio tienen que ver con asuntos tales como la fijación de precios y la eficacia en la fabricación y la publicidad. La estrategia de negocios se basa principalmente en la obtención de una ventaja competitiva en el mercado . <span><body><html>
Flashcard 1450823519500
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Open itde negocios es la forma en que un negocio compite en un sector particular. Las decisiones estratégicas adoptadas a nivel negocio tienen que ver con asuntos tales como la fijación de precios y la eficacia en la fabricación y la publicidad. La <span>estrategia de negocios se basa principalmente en la obtención de una ventaja competitiva en el mercado . <span><body><html>
Original toplevel document
Estrategia de negocios y corporativarespecto a la dirección de la organización en su conjunto. Esta estrategia se refiere a los asuntos que afectan a la empresa en general, tales como decidir el tamaño y la composición del portafolio de negocios. <span>Estrategia de negocios La estrategia de negocios es la forma en que un negocio compite en un sector particular. Las decisiones estratégicas adoptadas a nivel negocio tienen que ver con asuntos tales como la fijación de precios y la eficacia en la fabricación y la publicidad. La estrategia de negocios se basa principalmente en la obtención de una ventaja competitiva en el mercado . <span><body><html>
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Flashcard 1450829548812
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Open itDentro de las actividades básicas de la administración financiera sobresalen las siguientes relacionadas con la tesorería corporativa: 1. Presupuestos y planeación. 2. Decisiones sobre inversiones y financiamiento. 3. Control de las actividades financieras. 4. Conocimiento de los mercados de dinero y capitales</spa
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Flashcard 1450832956684
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Open itLas finanzas se relacionan con tres grandes áreas: a) Mercados de dinero y capital (Mercados Financieros) b) Inversiones. c) Administración financiera.
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Flashcard 1450836364556
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Open itLos Mercados Financieros permiten a los proveedores y a los solicitantes de préstamos e inversiones tanto de corto como de largo plazo, realizar transacciones directamente. En tanto que los p
Original toplevel document (pdf)
cannot see any pdfsFlashcard 1450841607436
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Open itrealizan sin el conocimiento directo de los proveedores de fondos (ahorradores), los intermediarios saben exactamente dónde se están prestando o invirtiendo tales fondos. Los dos mercados financieros más importantes son el <span>Mercado Monetario y el Mercado de Capital.<span><body><html>
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Flashcard 1450845015308
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Open itEn términos generales, en el Mercado de Dinero se llevan a cabo las transacciones en instrumentos de deuda a corto plazo o valores comerciables; en éste se obtienen créditos a corto plazo y se invierten los e
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cannot see any pdfsFlashcard 1450848161036
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Open itEn términos generales, en el Mercado de Dinero se llevan a cabo las transacciones en instrumentos de deuda a corto plazo o valores comerciables; en éste se obtienen créditos a corto plazo y se invierten los e
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Flashcard 1450853928204
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
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Open itEn los Mercados de Capital se comercializan los valores a largo plazo, como son los bonos y las acciones, es decir, las emisiones de deuda y de capital de las empresas y de los gobiernos. Proporcionan
Original toplevel document (pdf)
cannot see any pdfsFlashcard 1450856287500
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
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Open itEn los Mercados de Capital se comercializan los valores a largo plazo, como son los bonos y las acciones, es decir, las emisiones de deuda y de capital de las empresas y de los gobiernos. Proporcionan
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Flashcard 1450859695372
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
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Open itLas tesorerías de las empresas buscarán aplicar sus excedentes de tesorería, tanto en el corto como en el mediano plazo y en los cajones de inversión que mejor rendimiento les proporcionen. Asimismo, la aplicación de los recursos disponibles de la emp
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Flashcard 1450863889676
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Open itAdministración financiera se refiere al manejo eficiente y productivo de todos los activos de la empresa, optimizando su utilización. Se entiende por optimizar, la reducción de costos (financieros, ad
Original toplevel document (pdf)
cannot see any pdfsFlashcard 1450866248972
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Open itAdministración financiera se refiere al manejo eficiente y productivo de todos los activos de la empresa, optimizando su utilización. Se entiende por optimizar, la reducción de costos (financieros, administrativos, de producción, etc.) y el incremento del rendimiento de la empresa, en todos los ámbitos de la misma. Todo se concentra en el objetivo de la ad
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Flashcard 1450869656844
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Open itREESTRUCTURACIÓN CORPORATIVA Se refiere a una reestructuración total de la empresa, enfocada a sus tres aspectos fundamentales a través de las cuales la empresa se manifiesta: la parte organizacion
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cannot see any pdfsFlashcard 1450872016140
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Open itREESTRUCTURACIÓN CORPORATIVA Se refiere a una reestructuración total de la empresa, enfocada a sus tres aspectos fundamentales a través de las cuales la empresa se manifiesta: la parte organizacional, la operativa y la financiera. Previa a la reestructuración organizacional, operativa y financiera, es aconsejable efectuar un análisis de la posible Redimensión de la empresa, así como de su
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Open itTURACIÓN CORPORATIVA Se refiere a una reestructuración total de la empresa, enfocada a sus tres aspectos fundamentales a través de las cuales la empresa se manifiesta: la parte organizacional, la operativa y la financiera. <span>Previa a la reestructuración organizacional, operativa y financiera, es aconsejable efectuar un análisis de la posible Redimensión de la empresa, así como de su Adelgazamiento organizacional.<span><body><html>
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Open itPrevia a la reestructuración organizacional, operativa y financiera, es aconsejable efectuar un análisis de la posible Redimensión de la empresa, así como de su Adelgazamiento organizacional.
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Flashcard 1450879618316
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Open ity>Redimensionamiento de la empresa. Con el objetivo de dirigir la operación de la empresa conforme al tamaño adecuado que deba tener, así como para enfocarla hacia una actitud de servicio al cliente, se debe hacer un redimensionamiento de la organización, con el objetivo de que las funciones, puestos, inversiones, costos y gastos incurridos en la operación se minimicen, y como consecuencia optimi
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Flashcard 1450883026188
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Open itEl redimensionamiento empresarial es la adecuación del tamaño organizacional al nivel de operación que se conserve conforme a la estrategia de negocios y planeación definidas, con el fin de alinear la op
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Open itEl redimensionamiento empresarial es la adecuación del tamaño organizacional al nivel de operación que se conserve conforme a la estrategia de negocios y planeación definidas, con el fin de alinear la op
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Flashcard 1450898492684
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Open itsignifica reducir su tamaño, despedir personal o vender sus activos ociosos. Adelgazarla va más allá de esos aspectos materiales, pues implica cambios profundos, trascendentales y difíciles en: • Actitudes personales. • <span>Procesos operativos. • Cultura organizacional. • Formas de trabajo.<span><body><html>
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Flashcard 1450901900556
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Open itUna empresa que adelgaza su tamaño se convierte en una organización eficiente y altamente productiva, pues es el resultado de operarla, desde el punto de vista productivo y administrativo, de forma eficaz y eficiente, al
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Flashcard 1450906881292
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Open itConocer, manejar y controlar la función financiera significa tener la suficiente capacidad para iniciar la Reestructura Corporativa en sus tres grandes dimensiones: 1. Reestructuración Organizacional 2. Reestruc
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Open itConocer, manejar y controlar la función financiera significa tener la suficiente capacidad para iniciar la Reestructura Corporativa en sus tres grandes dimensiones: 1. Reestructuración Organizacional 2. Reestructuración Operativa 3. Reestructuración Financiera
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Flashcard 1450913434892
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Open itLa estructura organizacional debe estar enfocada a que el cliente sea el elemento más importante de la estructura y que el personal operativo, supervisor y directivo enfoque su quehacer diario al servicio del clien
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Open itstructura organizacional debe estar enfocada a que el cliente sea el elemento más importante de la estructura y que el personal operativo, supervisor y directivo enfoque su quehacer diario al servicio del cliente. Está comprobado que mientras <span>mayor es una estructura organizacional (pirámide alargada), el contacto de los altos niveles jerárquicos con los clientes y el mercado es cada vez menor y, por lo tanto, su involucramiento con la operación, las necesidades y problemas de los cl
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Open itEn épocas de crisis, cuando las fallas estructurales de las empresas aparecen inmisericordes, los empresarios y dirigentes de las organizaciones en conflicto tratan de resolver sus añejos problemas por medio de decisiones rápidas, solución de algunos problemas y contratación con terceros de nuevas medidas de apoyo o diferimiento de obligaciones. Si los problemas estructurales que sufre la empresa se resolvieran con una simple reestructuración de los pasivos financieros, al ampliar los plazos o al convertir la deuda a
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Open itgentes de las organizaciones en conflicto tratan de resolver sus añejos problemas por medio de decisiones rápidas, solución de algunos problemas y contratación con terceros de nuevas medidas de apoyo o diferimiento de obligaciones. <span>Si los problemas estructurales que sufre la empresa se resolvieran con una simple reestructuración de los pasivos financieros, al ampliar los plazos o al convertir la deuda a UDI, por ejemplo, los problemas financieros empresariales estarían ya resueltos; sin embargo, la realidad es otra: las empresas han logrado reestructurar sus pasivos pero no han podido resolver sus problemas operativos, tales como la ausencia de utilidades, liquidez escasa, estructuras mal diseñadas o elevada palanca operativa. La falta de preparación del empresario, la información macroeconómica "cruzada" por parte de las autoridades, las condiciones económicas globales y la dependencia d
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Open itealidad es otra: las empresas han logrado reestructurar sus pasivos pero no han podido resolver sus problemas operativos, tales como la ausencia de utilidades, liquidez escasa, estructuras mal diseñadas o elevada palanca operativa. <span>La falta de preparación del empresario, la información macroeconómica "cruzada" por parte de las autoridades, las condiciones económicas globales y la dependencia del crecimiento económico del exterior, lo llevan a cometer errores diversos, como son: • Ausencia de estrategias de negocios. • Indefinición o diseño equivocado de escenarios. • Estimación de escenarios incompletos o incongruentes. • Minimización o no contemplación del riesgo cambiario. • Evaluación errónea del riesgo financiero. • "Macrocefalia" o estructura organizacional sumamente pesada. • Inexistencia de procesos de planeación. • Ineficiencia operativa. • Falta de profesionalización directiva y operativa de la organización. Es por eso que antes de intentar una reestructuración financiera, es necesario e indispensable realizar una reestructuración operativa: el problema financiero es resultado, e
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Open it13; • "Macrocefalia" o estructura organizacional sumamente pesada. • Inexistencia de procesos de planeación. • Ineficiencia operativa. • Falta de profesionalización directiva y operativa de la organización. <span>Es por eso que antes de intentar una reestructuración financiera, es necesario e indispensable realizar una reestructuración operativa: el problema financiero es resultado, en la gran mayoría de las situaciones, de un problema de estructura operativa.<span><body><html>
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Open itAntes de hacer una reestructuración financiera, es necesario realizar una reestructuración operativa: el problema financiero es resultado, en la gran mayoría de las situaciones, de un problema de estructura operativa.
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Flashcard 1450932309260
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Open itLa Reestructuración Financiera es algo más complicada que la negociación con los acreedores sobre los nuevos plazos y tasas a considerar para los adeudos insolutos, o la solución a problemas de liquidez. Es necesario
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Open ituración Financiera es algo más complicada que la negociación con los acreedores sobre los nuevos plazos y tasas a considerar para los adeudos insolutos, o la solución a problemas de liquidez. Es necesario tomar en consideración las diferentes <span>opciones de financiamiento, los plazos y los costos que le son relativos a cada opción, y todo ello en concordancia con la capacidad presente y futura de la empresa para solventar los nuevos compromisos contraído
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Open ites de éxito corporativo. Sin la participación de esos elementos externos dentro de los recursos propios, las empresas estarían muy lejos de lograr el éxito y de cumplir los objetivos corporativos, razón por la que fueron creadas. <span>Una forma de incorporar esas fuerzas sinérgicas dentro del ente corporativo, es a través de la introducción de recursos económicos frescos y nuevos; es decir, se dota a la empresa de nuevo capital que impulse y multiplique las fuerzas internas propias disponibles. Al lograr lo anterior, se está creando lo que en mecánica se conoce con el nombre de palanca, y en finanzas con el nombre de palanca financiera. <span><body><html>
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Flashcard 1450942795020
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Open itEfectuar una reestructuración financiera no sólo es recalendarización de los pasivos a cargo de la empresa, sino que implica el desarrollo de cambios radicales tanto en la estructura financiera como en la de capital.
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Open ituna reestructuración financiera es el convenio acordado, entre el deudor y el acreedor, bajo un esquema que propicie el beneficio conjunto, para ambas partes, una vez adecuado el perfil financiero de la empresa obj
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Flashcard 1450949610764
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Open itObjetivos de una reestructuración financiera •Disminuir los costos financieros. •Reducir el nivel de endeudamiento. •Elevar la productividad. •Mejorar la mezcla entre recursos internos y externos. •Mejorar la posición de
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Open itObjetivos de una reestructuración financiera •Disminuir los costos financieros. •Reducir el nivel de endeudamiento. •Elevar la productividad. •Mejorar la mezcla entre recursos internos y externos. •Mejorar la posición de flujos.
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Open itObjetivos de una reestructuración financiera •Disminuir los costos financieros. •Reducir el nivel de endeudamiento. •Elevar la productividad. •Mejorar la mezcla entre recursos internos y externos. •Mejorar la posición de flujos.
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Open it>Objetivos de una reestructuración financiera •Disminuir los costos financieros. •Reducir el nivel de endeudamiento. •Elevar la productividad. •Mejorar la mezcla entre recursos internos y externos. •Mejorar la posición de flujos.<html>
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Open iteestructuración financiera •Disminuir los costos financieros. •Reducir el nivel de endeudamiento. •Elevar la productividad. •Mejorar la mezcla entre recursos internos y externos. •Mejorar <span>la posición de flujos.<span><body><html>
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Flashcard 1450964028684
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Open itPara llevar a cabo un proyecto de reestructura financiera es necesario dividirlo en diferentes fases, las cuales podemos conjuntar de la siguiente manera: Primera fase: Marco de referencia. Es el momento actual que está viviendo la empresa sin llevar a cabo una reestructuración financiera. Es necesario conocer, entre otros, los niveles de ventas, costos, utilidades, f
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Open itPara llevar a cabo un proyecto de reestructura financiera es necesario dividirlo en diferentes fases, las cuales podemos conjuntar de la siguiente manera: Primera fase: Marco de referencia. Es el momento actual que está viviendo la empresa sin llevar a cabo una reestructuración financiera. Es necesario conocer, entre otros, los niveles de ventas, costos, utilidades, flujos de efectivo, rentabilidad, productividad, apalancamiento y valor de la empresa. Segunda Fase: Marco institucional Es el estudio que nos permite conocer a través de una simulación la situación futura de la empresa al realizar una reestructuración fin
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Open itPrimera fase: Marco de referencia. Es el momento actual que está viviendo la empresa sin llevar a cabo una reestructuración financiera. Es necesario conocer, entre otros, los niveles de ventas, costos, utilidades, f
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Open itPrimera fase: Marco de referencia. Es el momento actual que está viviendo la empresa sin llevar a cabo una reestructuración financiera. Es necesario conocer, entre otros, los niveles de ventas, costos, utilidades, flujos de efectivo, rentabilidad, productividad, apalancamiento y valor de la empresa.
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Open itendo la empresa sin llevar a cabo una reestructuración financiera. Es necesario conocer, entre otros, los niveles de ventas, costos, utilidades, flujos de efectivo, rentabilidad, productividad, apalancamiento y valor de la empresa. <span>Segunda Fase: Marco institucional Es el estudio que nos permite conocer a través de una simulación la situación futura de la empresa al realizar una reestructuración financiera. Tercera fase: Estrategia de reestructuración Después de elaborar el marco de referencia e institucional es necesario instrumentar el plan de reestructuración financiera,
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Open itSegunda Fase: Marco institucional Es el estudio que nos permite conocer a través de una simulación la situación futura de la empresa al realizar una reestructuración financiera.
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Open itapalancamiento y valor de la empresa. Segunda Fase: Marco institucional Es el estudio que nos permite conocer a través de una simulación la situación futura de la empresa al realizar una reestructuración financiera. <span>Tercera fase: Estrategia de reestructuración Después de elaborar el marco de referencia e institucional es necesario instrumentar el plan de reestructuración financiera, que consiste en seleccionar la estrategia más conveniente para la empresa; la que debe tomar en cuenta: v El monto a reestructurarse. v El momento idóneo. v La forma de llevarse a cabo. Cuarta fase: Análisis derivado de la reestructura financiera Deben considerarse los impactos de corto, mediano y largo plazo en diferentes renglones, como
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Open itDespués de elaborar el marco de referencia e institucional es necesario instrumentar el plan de reestructuración financiera, que consiste en seleccionar la estrategia más conveniente para la empresa; la que debe tomar en cuenta: v <span>El monto a reestructurarse. v El momento idóneo. v La forma de llevarse a cabo.<span><body><html>
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Open itue consiste en seleccionar la estrategia más conveniente para la empresa; la que debe tomar en cuenta: v El monto a reestructurarse. v El momento idóneo. v La forma de llevarse a cabo. <span>Cuarta fase: Análisis derivado de la reestructura financiera Deben considerarse los impactos de corto, mediano y largo plazo en diferentes renglones, como: v Costos financieros. v Utilidades. v Flujos de efectivo. v Estructura de activos y pasivos. v Niveles de apalancamiento financiero y operativo. v Tasas de productividad y rentabilidad. v Grado de riesgos financieros. v Valor corporativo antes y después de la reestructuración. <span><body><html>
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Open it>Cuarta fase: Análisis derivado de la reestructura financiera Deben considerarse los impactos de corto, mediano y largo plazo en diferentes renglones, como: v Costos financieros. v Utilidades. v Flujos de efectivo. v Estructura de activos y pasivos. v Niveles de apalancamiento financiero y operativo. v Tasas de productivida
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| last reprioritisation on | suggested re-reading day | |||
| started reading on | finished reading on |
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|---|---|---|---|---|
| last reprioritisation on | suggested re-reading day | |||
| started reading on | finished reading on |
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|---|---|---|---|---|
| last reprioritisation on | suggested re-reading day | |||
| started reading on | finished reading on |
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|---|---|---|---|---|
| last reprioritisation on | suggested re-reading day | |||
| started reading on | finished reading on |
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|---|---|---|---|---|
| last reprioritisation on | suggested re-reading day | |||
| started reading on | finished reading on |
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|---|---|---|---|---|
| last reprioritisation on | suggested re-reading day | |||
| started reading on | finished reading on |
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|---|---|---|---|---|
| last reprioritisation on | suggested re-reading day | |||
| started reading on | finished reading on |
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|---|---|---|---|---|
| last reprioritisation on | suggested re-reading day | |||
| started reading on | finished reading on |
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|---|---|---|---|---|
| last reprioritisation on | suggested re-reading day | |||
| started reading on | finished reading on |
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|---|---|---|---|---|
| last reprioritisation on | suggested re-reading day | |||
| started reading on | finished reading on |
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|---|---|---|---|---|
| last reprioritisation on | suggested re-reading day | |||
| started reading on | finished reading on |
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|---|---|---|---|---|
| last reprioritisation on | suggested re-reading day | |||
| started reading on | finished reading on |
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|---|---|---|---|---|
| last reprioritisation on | suggested re-reading day | |||
| started reading on | finished reading on |
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|---|---|---|---|---|
| last reprioritisation on | suggested re-reading day | |||
| started reading on | finished reading on |
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|---|---|---|---|---|
| last reprioritisation on | suggested re-reading day | |||
| started reading on | finished reading on |
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|---|---|---|---|---|
| last reprioritisation on | suggested re-reading day | |||
| started reading on | finished reading on |
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|---|---|---|---|---|
| last reprioritisation on | suggested re-reading day | |||
| started reading on | finished reading on |
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|---|---|---|---|---|
| last reprioritisation on | suggested re-reading day | |||
| started reading on | finished reading on |
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|---|---|---|---|---|
| last reprioritisation on | suggested re-reading day | |||
| started reading on | finished reading on |
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|---|---|---|---|---|
| last reprioritisation on | suggested re-reading day | |||
| started reading on | finished reading on |
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|---|---|---|---|---|
| last reprioritisation on | suggested re-reading day | |||
| started reading on | finished reading on |
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|---|---|---|---|---|
| last reprioritisation on | suggested re-reading day | |||
| started reading on | finished reading on |
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|---|---|---|---|---|
| last reprioritisation on | suggested re-reading day | |||
| started reading on | finished reading on |
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|---|---|---|---|---|
| last reprioritisation on | suggested re-reading day | |||
| started reading on | finished reading on |
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|---|---|---|---|---|
| last reprioritisation on | suggested re-reading day | |||
| started reading on | finished reading on |
| status | not read | reprioritisations | ||
|---|---|---|---|---|
| last reprioritisation on | suggested re-reading day | |||
| started reading on | finished reading on |