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CALUMS Fundamentals of Managerial Economics Discussion

CALUMS Fundamentals of Managerial Economics Discussion

Question Description

Need help with my Management question – I’m studying for my class.

Question 1

What are some important differences between new venture business plans and business plans of established firms? Write minimum of 450 words and use at least 2 in text citation that matches peer reviewed references

Question 2

How is the financing of social (not-for-profit) ventures different from the financing of for-profit ventures? Write minimum of 450 words and use at least 2 in text citation that matches peer reviewed references

Question 3

apply the finding outcomes for question 1 and 2 above to one of the following scenarios:

As applied to your current professional career

As applied to enhancing, improving, or advancing your current professional career

As applied to a management, leadership, or any decision-making position. Write minimum of 450 words and use at least 2 in text citation that matches peer reviewed references

Question 4

Please read chapters One & Two of your textbook and demonstrate your understanding of The Fundamentals of Managerial Economics by answering the following questions:

Jamie is considering leaving her current job, which pays $75,000 per year, to start a new company that develops applications for smartphones. Based on market research, she can sell about 50,000 units during the first year at a price of $4 per unit. With annual overhead costs and operating expenses amounting to $145,000. Jamie expects a profit margin of 20 percent. This margin is 5 percent larger than that of her largest competitor, Apps, Inc.

  • If Jamie decides to embark on her new venture, what will her accounting costs be during the first year of operation?
    • Her company’s implicit costs?
    • Her company’s opportunity costs?
  • Suppose that Jamie’s estimated selling price is lower than originally projected during the first year. How much revenue would she need in order to earn:
    • Positive accounting profits?
    • Positive economic profit. Use in text citation that matches peer reviewed references at least two or more.

PS please enter references at the end of each question and I will provide the name of the text book for question 4 if you don’t have it or have access to it I will provide a picture of the pages.