Discussion of the concept of opportunity cost

Assignment Help Marketing Management

Reference no: EM13732533

Assignment: Maximizing Profits and Minimizing Losses

Consider a supplier of agricultural equipment who is deciding how much of two products should be produced by his firm. You determine what the two products are.

Now create a report that includes a discussion and analysis regarding how such a supplier makes such a determination in order to maximize the firm's profits. Include in your response:

A discussion of exactly what costs are associated with profit maximization.

A discussion of the concept of "opportunity cost."

A discussion of the alternative production opportunities.

A discussion of the various constraints which firms face in maximizing their economic profit.

Reference no: EM13732533

Questions Cloud

Established pharmaceutical manufacturers such as merck : Next, consider the case of several large, established pharmaceutical manufacturers such as Merck. What type of market form do you believe that such manufacturers operate under

What is greenhouse effect : What is Greenhouse effect - We are legally, ethically,and socially required to green our IT products, applications, services, and practices - is this statement true? Why?

Senior citizens deserve income that will allow them to live : "Senior citizens deserve an income that will allow them to live in comfort for their remaining years."

A micro economist might study : A micro economist might study which of the following?

Discussion of the concept of opportunity cost : A discussion of the concept of "opportunity cost." AND A discussion of the alternative production opportunities

What is the net present value of purchasing the tractor : Farm must decide whether or not to purchase a new tractor. The tractor will reduce costs by $2,000 in the first year, $2,500 in the second and $3,000 in the third and final year of usefulness. The tractor costs $9,000 today, while the above cost savi..

What are five characteristics which differentiate projects : What are five characteristics which help differentiate projects from other functions carried out in the daily operations of the organization. Why are these not the same

Explain why placed each competitor on its particular spot : Complete a perceptual map that includes a minimum of 10 competitors from that same industry. Explain why you placed each competitor on its particular spot on the map

Respect to the medical care sector : Every economy, as well as the medical care sector, must decide the following: what should be produced, how it should be produced, how it should be distributed, and how to allow growth and innovation. With respect to the medical care sector, how are t..

User Account

All Pages