Managerial Economics exam paper Term Example | Topics and Well Written Essays - 1250 words

Managerial Economics exam - Term Paper Example The salary that the owner of a business can earn and the interest that the owner can earn on the invested capital are examples of implicit costs. The following equations can be used to calculated business and economic profits. c) Since project B has a higher standard deviation of $15000 than project A, we can conclude that project B is riskier. However, project B provides a better return of $70000 as compared to the expected return of project A of $60300. Project A has lesser risk since its standard deviation is lesser than that of project B. Higher standard deviation of project B indicates that there are high chances that the return will either be higher than the expected return or lower than the expected return. If the customer is a risk-averse one, he will prefer project A since it provides a lower return but has lesser risk attached to it. A risk-taking customer would go for project B since project B provides a better return although there is higher risk attached to it. Implicit cost is the cost of the opportunity that a firm loses when it employs its resources in earning profits. The salary that one can earn by investing his time elsewhere or the interest that one can earn on the capital employed in business are some examples of implicit costs (Begg 1997). According to the Consumer Demand Theory, the quantity demanded of a product increases with a decrease in its price and quantity demanded decreases if price is increased. There is a direct relationship between demand and income. If income of consumers increases, quantity demanded also increases and if income decreases, quantity demanded also decreases. Change in tastes also influence the quantity demanded of a product (Sloman 1997). For example, if people get more inclined towards buying smartphones than other cellphones, the smartphones demand will surge due o the change in tastes and preferences of the

Social Network Website Design & Justification 2 Assignment

Social Network Website Design & Justification 2 - Assignment Example As it is clear, the user is captivated by the message at the top. They will feel compelled to be part of life savers. After the user is assured that the signup process is simple, it should follow this and be simple as suggested. On clicking link that will lead them to the signup stage, the client should have a good and simple experience in the signup. This should be shown by the way the signup process takes place. As can be seen in figure 2, the sign up process is simple and does not take much of the time. It does not require a lot of details from the client. Just simple facts that is required in the SignUp process. There should also be use of attractive design objects. Most young users like flashy and attractive sites. They are attracted to things that are beautiful. This could be in the beginning of the web page. In figure 3, there is an addition of some graphics that will captivate the user into signing up for the service. By the use the dove, the user will have a feeling that it is for a good cause. The use of the dove has found prominence in religious procedures to signify sympathy and care. The wireframe shown in figure 4 shows a simple way of gramification. This figure shows how the web page can motivate someone to donate blood. Young social site users like such interesting things that will motivate them into registering and filling out the form. This page can be put in the beginning of the website. Another issue is that of giving simple links that are easy to find. This way, the user will not find it hard to get the link that will lead them to the site that they are to register. In figure 4, the user will click on the images in order to undertake the registration. In the design of the website, there is a need to include the various types of users and blood donors. From figure 5, the users have been categorized so that it is easier to categorize users in regard to the frequency in which they visit the site. It follows a simple design structure