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- What is the principal goal of a firm like CorpCo? As a managerial economist how would you define an ‘optimal decision’ for a firm?
- The firm is considering investing $300,000 for a period of five years. Expected earnings are $50,000 in year 1, $60,000 in year 2, $75,000 in year 3 and $90,000 in years 4 and 5. Should the firm decide to invest, if the interest rate is 8%?
- The firm paid a dividend of $6 during the past year and it estimates dividends to grow at 7% annually in the future. Firm’s stockholders require a
rate of return of 14%. What would be the expected value of each share today? - Which are the two basic risks affecting returns when shareholders value any business? Briefly explain.
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- You are the manager of a firm. You are given a task to decide which of three options to take to maximize the value of the firm over the next three years. The expected year-end profits are given in the following table and the company expects that the interest rates are stable at 7 percent over the next three years. Discuss the difference in the profits associated with each option. Provide an example of real-world options that might generate such profit streams. Which option has the greatest present value? Option Year 1 Year 2 Year 3 A RM70,000 RM80,000 RM90,000 B RM50,000 RM90,000 RM100,000 C RM30,000 RM100,000 RM115,000You are consultant at large international consultancy (“PharmCons”), specialized in consulting firms in the pharmaceutical industry. PharmCons has its Asian-Pacific headquarter in Singapore. Dr. Lee, the CEO of a newly established Singaporean pharmaceutical firm (“SinPharm”), which owns the protected patent for vaccine for Dengue-fever, approaches PharmCons. He is an excellent biologist but he and his employees are not well trained in managerial economics. So he needs advise on how to “make the best out of his patent” in an economic sense. Your colleagues at PharmCons have already estimated the market demand function for the vaccine. The accountancy division of SinPharm provides information with respect to relevant production costs. The (inverse) demand for the vaccine is estimated as P = 301 - 4Q. The marginal costs (MC) are equal to MC = 1 and fixed costs (FC) are equal to FC = 1000. Your boss ask you to provide Dr. Lee answers to the following questions: (a) Is SinPharm a…You are consultant at large international consultancy (“PharmCons”), specialized in consulting firms in the pharmaceutical industry. PharmCons has its Asian-Pacific headquarter in Singapore. Dr. Lee, the CEO of a newly established Singaporean pharmaceutical firm (“SinPharm”), which owns the protected patent for vaccine for Dengue-fever, approaches PharmCons. He is an excellent biologist but he and his employees are not well trained in managerial economics. So he needs advise on how to “make the best out of his patent” in an economic sense. Your colleagues at PharmCons have already estimated the market demand function for the vaccine. The accountancy division of SinPharm provides information with respect to relevant production costs. The (inverse) demand for the vaccine is estimated as P = 301 - 4Q. The marginal costs (MC) are equal to MC = 1 and fixed costs (FC) are equal to FC = 1000. Your boss ask you to provide Dr. Lee answers to the following questions: (a) Is SinPharm a…
- Jim has been employed at Gold Key Realty at a salary of $2,000 per month during the past year. Because Jim is considered to be a top salesman, the manager of Gold key is offering him one of three salary plans for the next year: (1) a 25% raise to $2,500 per month; (2) a base salary of $1,000 plus $600 per house sold; or, (3) a straight commission of $1,000 per house sold. Over the past year, Jim has sold up to 6 homes in a month. Write down the month salary payoff table for Jim.Assume that you’re the director of one of the corporations listed below and have been presented with the business opportunity described in the scenario. Would you advise the corporation to accept the opportunity? Consider both the financial return expected and any related ethical concerns. ToyCo has just been informed that its wooden trains produced in China contain lead paint and can no longer be sold in the United States. However, a distributor offers to negotiate a deal with a foreign company to sell the trains in a South American country that has no laws addressing the presence of lead paint in children’s toys. BabyHealth is seeing decreasing sales of its powdered infant formula in the United States due to more and more mothers choosing to breastfeed their babies. In an effort to offset these losses, BabyHealth chooses to sell its formula in third-world countries. However, it is widely known that the water sources in these countries are often contaminated and not boiled prior to…You are the manager of Taurus Technologies, and your sole competitor is Spyder Technologies. The two firms’ products are viewed as identical by most consumers. The relevant cost functions are C(Qi) = 2Qi, and the inverse market demand curve for this unique product is given by P = 110 −3 Q. Currently, you and your rival simultaneously (but independently) make production decisions, and the price you fetch for the product depends on the total amount produced by each firm. However, by making an unrecoverable fixed investment of $100, Taurus Technologies can bring its product to market before Spyder finalizes production plans. (Assume Taurus Technologies is the leader in this scenario.) What are your profits if you do not make the investment? $ What are your profits if you do make the investment? Instructions: Do not include the investment of $100 as part of your profit calculation. $
- An executive at a publishing house has just been given two stock options as a bonus. Each option gives the executive the right (but not the obligation) to purchase one share of the publishing company's stock for $50, as long as he does it before the closing of the stock market tomorrow afternoon. When the executive exercises either option (recall, he has two), he must immediately sell the stock bought from the company at the market prize in effect at the time. An option can only be exercised once. The stock's price today is $55. The executive knows this price today before deciding what to do today. Hence, if he exercises either option today he is guaranteed a profit of $5 per option exercised. The stock price tomorrow will either be $45 or $65 with equal probability. The executive will know the price tomorrow before deciding what to do that day. This means that if he waits until tomorrow and the stock price rises to $65, he can exercise any remaining options for a profit of $15 per…You are the manager of Taurus Technologies, and your sole competitor is Spyder Technologies. The two firms’ products are viewed as identical by most consumers. The relevant cost functions are C(Qi) = 2Qi, and the inverse market demand curve for this unique product is given by P = 410 −2 Q. Currently, you and your rival simultaneously (but independently) make production decisions, and the price you fetch for the product depends on the total amount produced by each firm. However, by making an unrecoverable fixed investment of $1,000, Taurus Technologies can bring its product to market before Spyder finalizes production plans. (Assume Taurus Technologies is the leader in this scenario.)What are your profits if you do not make the investment? $What are your profits if you do make the investment?Instructions: Do not include the investment of $1,000 as part of your profit calculation. $.Studies have concluded that a college degree is a very good investment. Suppose that a college graduate earns about 75% more money per hour than a high-school graduate. If the lifetime earnings of a high-school graduate average $1,200,000, what is the expected value of earning a college degree?
- You are the manager of Taurus Technologies, and your sole competitor is Spyder Technologies. The two firms’ products are viewed as identical by most consumers. The relevant cost functions are C(Qi) = 4Qi, and the inverse market demand curve for this unique product is given by P = 160 – 2Q. Currently, you and your rival simultaneously (but independently) make production decisions, and the price you fetch for the product depends on the total amount produced by each firm. However, by making an unrecoverable fixed investment of $200, Taurus Technologies can bring its product to market before Spyder finalizes production plans. Should you invest the $200? Explain.Suppose that Honda is on the verge of signing a 15-year contract with TRW to supply airbags. The terms of the contract include providing Honda with 85 percent of the airbags used in new automobiles. Just prior to signing the contract, a manager reads that one of TRW’s competitors has introduced a comparable airbag using a new technology that reduces the cost by 30 percent. How would this information affect Honda’s optimal contract length with TRW?Jaynet spends $30,000 per year on painting supplies and storage space. She recently received two job offers from a famous marketing firm—one offer was for $110,000 per year and the other was for $80,000. However, she turned both jobs down to continue a painting career. If Jaynet sells 25 paintings per year at a price of $8,000 each What are her accounting profits? What are her economic profits? Suppose the total benefit derived from a continuous decision, Q, is B(Q) = 20Q − 2Q2and the corresponding total cost is C(Q) = 4 + 2Q2, so that MB(Q) = 20 − 4Q and MC(Q) = 4Q. What is total benefit when Q = 2? Q = 10? What is marginal benefit when Q = 2? Q = 10? What level of Q maximizes total benefit? What is total cost when Q = 2? Q = 10? What is marginal cost when Q = 2? Q = 10? What level of Q minimizes total cost?"
