05-29-2011, 09:05 PM | #1 |
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For those BMW owners who are economic savvy...I need your help!
So I have a microeconomics final that's due on Thursday and since I'm in Montreal right now (won't be home till late tomorrow) I'm in a bind for time. The objective of the final is fairly easy, I just have to relate 15 economic terms (simple economics terms like subsidy, firm/industry, interest rate, etc) and give an example of how it relates to BMW in one or two sentences.
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05-29-2011, 09:29 PM | #2 | |
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The marginal cost of a M3>335is>335>328 is far higher than the marginal benefit, yet people buy the higher model. The opportunity cost of driving a BMW practically often means taking out a 36 mo. loan, when one could have simply bought a dependable car such as an Accord outright, with the downpayment alone. The elasticity of demand on a BMW is such that BMW AG is able to pass on nearly all or most of the fluctuations in their production / delivery costs to American consumers. Look at a 335i which is $5k more today than in 2007, yet the car has 3 less CATS and one less turbo, which saves $$$$ for BMW. |
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05-29-2011, 09:37 PM | #3 | |
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Just 12 more terms to go. |
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05-29-2011, 10:32 PM | #4 |
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The droves of 328 purchasers out there subsidize 335 purchasers, as the economic and utilititarian value between the two cars vastly exceeds the marginal price difference. The 335 is kinda like a tiffany's diamond ring, used to lure in the masses who end up purchasing silver jewelry (the real profit maker, but not the brightest jewel...).
Edit: I acknowledge the m3 to be an even bigger diamond, of course |
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05-29-2011, 10:35 PM | #5 |
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05-30-2011, 04:18 AM | #6 |
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REALLY? You want people to do homework for you? I understand you're trying to maximize productivity by asking others to do this for you, but why should anyone give up their opportunity cost of time to help you? Do you really lack production capacity to do your own final? Or are you just hedging in case you don't have enough time?
You realize there is a multiplier effect when doing your own homework right? The more you learn on your own, the more return on investment you will get out of school. If we subsidize your paper, and you get an "A" in your final, will there be wealth transference? How many people would actually be willing to help you cheat? What are the supply and demand curves? Where's the pareto optimal point? I guess if even one person helps, that would be a windfall to you. But, at the end of the day, I guess this is a zero-sum game - both you and those helping you lose. We lose our time and you cheat yourself. Good luck w/ your paper. |
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05-30-2011, 07:31 AM | #7 | |
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I'm a senior in high school. I've already been accepted to a 6 year pharmacy program at a great school (for PharmD at least). The rest of my class is also composed of seniors. I don't know if you've been in high school (but with using all those economics terms to point out my inferiority, I'm assuming you have) but surely you know of "senioritis"? There's about 2 weeks of school left, and everyone already took the AP exam a month ago. Spring break was 2 weeks ago. In that 2 weeks, most if not all of the material I learned in all of my clases have been cleared from my memory. I really, genuinely, don't know anything. And I really, genuinely, will not be home, on my own computer, for another 7 hours. So if you're going to (or anyone else for that matter) going to come into this thread and start bashing me because I lack any sort of integrity for asking help for a class that is pretty much meaningless to me in the "near" future, then just keep it to yourself. I guess I misjudged the whole "brevity" statement. My bad for what looks like a wall of text on my phone. Anyways, back on topic. Thank you everyone that's posted information relevent to what I asked for. I just need a few more examples and I'll be set with compiling all of them in a sick powerpoint when I get home. Thanks everyones. |
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05-30-2011, 07:51 AM | #8 | |
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You might want to investigate cartels and collusion, you'll see how many erroneous posts there are about why gas is expensive etc. Also check out game theory and the Monty Hall paradox. p.s. if I'm not mistaken, every pharmacy grad today is a pharm D and went to 6 years. The older ones did 5. Doctor is a funny word, I think the classic doctor is the MD. Now we throw the word around so loosely, an optometrist and podiatrist can use the word in their title, when in fact they never went to medical school except maybe on the college tour they went on before their applications were rejected. A lawyer might be called a JD at some schools, doctor of jurisprudence, while at another schoo like mine, the same education yields a llb, which is a bachelor of laws. |
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05-30-2011, 09:10 AM | #9 |
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Cheaters never win
PharmD=counting pills by 5 and working at the drive thru window at walgreens. Back to the topic. If u can't do ur own homework then how competent will u be as a pharmacist?
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05-30-2011, 09:40 AM | #10 | |
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Lastly, how is not doing my homework the original topic? Last time I checked I was asking for help, not questioning myself whtether or not I would be a good pharmacist. Seriously, thanks a lot. Because this thread has obviously swayed off topic, it'll probably be closed. Whatever, thank you everyone else who has managed to put some insightful info into this thread. |
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05-30-2011, 09:42 AM | #11 | |
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I suppose my experience is such that I'm almost always on my wife's health plan, and since she's a job hopper (hopefully she'll settle in eventually as her new co. gave her a good position which actually requires much more experience than she has) it's like guessing what health plan we have this month. Once, no lie, I was on Caremark 3X, i.e. covered by 3 health plans. F coordination of benefits, give me the one with the $0 copay. May be nothing to the pharm tech, but I said why would I want to pay $8, when I'm on a valid plan with $0 copay? She couldn't understand, both English, and why $0 is better than $8..... |
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05-30-2011, 09:51 AM | #12 | |
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Secondly, in the general population, pharmacists are pretty smart--the avg. person is not going to be able to graduate that or engineering or any science curriculum for that matter. They'd probably become an eye or foot doctor sans MD. Or, they have to resort to practicing law or being an investment banker on Wall St. |
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05-30-2011, 09:52 AM | #13 |
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not an example of a zero-sum game
I can agree on the losing time and cheating statement, but this isn't a zero-sum game. In a zero-sum game one mans profit is another mens loss (for instance call & put options on stock), in contrast to owning a stock where nobody has to phisically pay you you profits.
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05-30-2011, 09:53 AM | #14 | |
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05-30-2011, 09:54 AM | #15 | |
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05-30-2011, 09:59 AM | #16 | |
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05-30-2011, 10:02 AM | #17 |
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Revenue - total sales of BMW vehicles
Gross Margin - Profit from Revenue minus the cost of producing the sold BMW vehicles Operating Margin - Gross Margin minus the cost of running BMW's offices (fix costs) and wages (variable costs) EBIDTA [earnings before income, depreciation, taxes, and amortization] - Operating Margin minus depreciation, taxes, and amortization from the business.
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05-30-2011, 10:12 AM | #18 | |
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05-30-2011, 10:23 AM | #19 |
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He never told me, but if you factor in the mortgage of the house, paying for my sisters law school, paying off 2 cars, other liabilties, and maybe having his accountant (who is a family friend) letting slip some facts, then calculating everything is pretty easy.
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05-30-2011, 10:34 AM | #20 |
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You could have finished the assignment in the time you've spent extinguishing the flamers here. Just saying.
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05-30-2011, 11:00 AM | #21 |
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I'm on the road right now, and my navi says another 6 hours and I'll be home. And let the flamers flame. It's amusing and a good time waster to read stuff they were probably jipped for when they were young.
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05-30-2011, 02:11 PM | #22 |
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Want to help your dad? Tell him it's time for a new accountant! Good luck out there in the real world. By the way it's "liabilities".
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