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anzhelika [568]
2 years ago
13

Milton Friedman argues that __________.

Business
1 answer:
zzz [600]2 years ago
8 0

Answer:

Milton Friedman argues that <u>a business's only social responsibility is to maximize profits within the rules of the game.</u>

Explanation:

Milton Friedman is known to hold an opposing view when compared to that of John Keynes about economic theory.

Whereas Milton Friedman believes that the utmost responsibility of any company is to the shareholders, the Keynesian are more consumer focused.

Milton Friedman believes strongly in free capitalism and as a result does not advocate for any company offering corporate social responsibility to the society or public.

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An oil and gas producing company owns 42,000 acres of land in a southeastern state. It operates 630 wells which produce 18,000 b
valkas [14]

Answer:

The bid amount should be $13,200,264.

Explanation:

An oil and gas producing company owns 42,000 acres of land in a southeastern state.

It operates 630 wells which produce 18,000 barrels of oil per year and 1.7 million cubic feet of natural gas per year.

The revenue from the oil is ​$1,800,000 per year and for natural gas the annual revenue is ​$581,000 per year.

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= $1,800,000 + $581,000

= $2,381,000

The bid amount should be the present worth of total annual revenue.

Present Worth of total annual revenue

= Revenue \times\ \frac{( 1 + i )^{n} -1 }{i (1 + i)^{n} }

= $2,381,000\ \times\ \frac{( 1 + 0.11 )^{9} -1 }{0.11 × (1 + 0.11)^{9} }

= $2,381,000\ \times\ \frac{( 1.11 )^{9} -1 }{0.11 × (1.11)^{9} }

= $2,381,000\ \times\ \frac{2.5580 - 1 }{0.11 × 2.5580 }

= $2,381,000\ \times\ \frac{1.5580 }{0.281}

= $2,381,000\ \times\ 5.544

= $13,200,264

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3 years ago
Suppose a tax of $5 per unit is imposed on a good, and the tax causes the equilibrium quantity of the good to decrease from 200
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