Feb 3rd, 2012
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Of all the duties described in Chapter 20, determine the one duty that is the most important for management to uphold. Imagine you are the Director of Finance for a large publicly traded company. Of all the material covered in Chapter 22, analyze the single most important element that a Director of Finance must practice diligently. Provide a rationale for your answer.

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Problem 1:When the demand function is Q = 5,000 - 25P, the inverse demand function isP = 200 - 0.04QTR = (P)(Q)= 200Q - 0.04Q2MR = 200 - 0.08QTC = 1500 + 20Q + 0.02Q2MC = 20 + 0.04QProfit is maximized when MR = MC200 - 0.08Q = 20 + 0.04QOr, 0.12Q = 180Or, Q* = 180/0.12 = 1500Theref

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