Comment on the difficulty of calculating opportunity costs (the econ.pdf

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Comment on the difficulty of calculating opportunity costs (the economic concept) as compared to accounting costs (explicit costs). Do you have any suggestions for making the calculation of implicit costs easier? Solution Accounting cost includes different cost of products, raw materials, equipment, labor etc. Such costs are easy to calculate as their values are recorded in the financial statements and invoices of the company. On the other hand, opportunity cost refers to the cost gained by a company if they had made a different decision. Such costs are difficult to calculate. Furthermore, such cost cannot be included in the bookkeeping records. Hence, they are relatively harder to calculate. Company can calculate implicit cost easier by.

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Compensation plans usually include a variety of benefits. Name the three benefits that would be most important to you as part of your personal compensation package. Solution three benefits that would be most important to you as part of your personal compensation package. are Retirement Benefits Retirement benefits are funds set aside to provide people with an income or pension when they end their careers. Retirement plans fit into two general categories: In defined benefit plans (sometimes called pension plans), the benefit amount is pre-determined based on salary and the years of service. In these plans, the employer bears the risk of the investment. In defined contribution plans (such as a 401k plan), employer or employee contributions are specified, but the benefit amount is usually tied to investment returns, which are not guaranteed. Minnesota Facts: Most full-time workers in Minnesota are offered access to retirement benefits. Sixty-four percent are offered a defined contribution. Only 15.6 percent are offered a defined benefit program. Defined benefit plans are offered most frequently in those sectors with the highest levels of unionization. These include public administration, construction, manufacturing, and trade, transportation, and utilities. Life and AD&D Most employers design their plans with a provision to protect the employee and/or their family in the event of Accidental Death or Dismemberment (AD&D). Employers often provide basic coverage as a factor of the employee.

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Compare/contrast economies of scale and diseconomies of scale. Solution As a firm increases its scale, the average total cost decreases. This is economies of scale. This is attributed to Increasing Returs to Scale, that is if inputs are doubled, output increases to more than double. As a firm increases its scale, the average total cost increases. This is diseconomies of scale. This is attributed to Decreasing Returs to Scale..

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Compare/contrast explicit and implicit costs. Solution Explicit costs are those cost that are entered in the books of account. Examples are payment of wages, rent, and payment for the material. These expenses are entered in the accounting books and accounting profit / loss is identified. Implicit cost is implied cost. They are also called as opportunity cost. It does not incur any direct payment but it is the opportunity forgone to do current operation. Implicit cost is used to determine economic profit..

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Compare and contrast the theories of liability for insider trading under the antifraud provisions of Section 10(b) of the Securities Exchange Act of 1934. Analyze and evaluate the various issues presented while arguing and debating the connections between business, law, politics, and ethics. Solution An understanding of insider trading law begins with The Security Exchange Act of 1934 (Act).24 This Act, a response to the 1929 stock market crash, seeks to supervise and regulate securities trading. Section 10(b) and Rule 10b-5, the relevant provisions of the Act, form the foundation of insider trading law. Indeed, the majority of inside traders are prosecuted under these two provisions. Section 10(b) provides that a person may not “use or employ, in connection with the purchase or sale of any security . . . any manipulative or deceptive device or contrivance in contravention of such rules and regulations as the [SEC] may prescribe as necessary or appropriate in the public interest or for the protection of investors.” Section 10(b) is implemented by Rule 10b-5, which makes it “unlawful for any person . . . to employ any device . . . to defraud . . . in connection with the purchase or sale of any security.” Under Rule 10b-5, the SEC can prosecute a defendant for fraud by showing the defendant made a “material misstatement or omission in connection with the purchase or sale of securities that has caused damages.” The deception element is satisfied by the occurrence of a misrepresentation or an omission. However, an omission is only deceptive when there is a duty to inform. In the context of computer hacking, the device must be deceptive, not manipulative, due to the way “manipulative” has been defined by the courts. The Supreme Court has ruled that “manipulative” implies defrauding shareholders by rigging the price of securities. Hacking into a computer in no way amounts to rigging the price of securities. While Section 10(b) and Rule 10b-5 are used to prosecute inside traders, these provisions fail to lay out a definition of “insider trading.” Instead, courts have defined what it means to be an inside trader, and as discussed below, the definition of an inside trader has expanded over time. Although the ethical and economic aspects of insider trading regulation have been discussed at length, only recently have commentators begun to examine the political aspects of this practice.[1] The virtual total neglect of the political side of the story is particularly curious in light of the fact that regulation of insiders\' trading practices has become a highly politicized issue and has prompted numerous hearings[2] and bills[3] in Congress. At present, a battle for the right to regulate insider trading is being fought among Congress, the regulators at the SEC, and the federal judiciary. Each of these organizations has an institutional (if not political) interest in regulating the trading practices of insiders, and those interests are reflected in the reg.

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