SIM UOL August 2012 Intake

[INVS 2.0]

Lol, come over on mon if you want haha

See first.

 

[Deadpool.]

You are fast. I am still trying tutorial 3.

Who's your tutorial teacher?

 

[INVS 2.0]

Who's your tutorial teacher?

Wong wai hong.

 

[chiwawa23]

You are fast. I am still trying tutorial 3.

Lol. Cos my econs tut 4 coming tues ah. 3 also headache sia. After tut 2, the rest all getting more and more tough

 

[Koi_Fish]

Anyone taking B&F here?

Me. Under Diana Tan.
====

Eh, chiwawa23, you damn kan cheong spider sia. Haiz, but it is good ba. Better to be kan cheong than regretting that you failed the module. Just do things (e.g. crashing classes, being annoying, etc) in moderation 'kay?

Also, advice you to do proper time management for IBM. I got 70+ for IBM then, and I wrote max one side for each question. You need not write like a maniac. 1 question 4 pages is overkill. Get a good framework, and keep your points relevant. Jia You.

 

[Deadpool.]

Me. Under Diana Tan.
====

Eh, chiwawa23, you damn kan cheong spider sia. Haiz, but it is good ba. Better to be kan cheong than regretting that you failed the module. Just do things (e.g. crashing classes, being annoying, etc) in moderation 'kay?

Also, advice you to do proper time management for IBM. I got 70+ for IBM then, and I wrote max one side for each question. You need not write like a maniac. 1 question 4 pages is overkill. Get a good framework, and keep your points relevant. Jia You.

Any advice on studying for IBM? Is it pretty much just memorising?

 

[walsly]

Any advice on studying for IBM? Is it pretty much just memorising?

massage your wrist b4 u go to the exams

 

[Koi_Fish]

Any advice on studying for IBM? Is it pretty much just memorising?

Yes, to be honest. But a good framework is key. I advice first-years taking IBM to make their own notes/mindmap in bullet/point form for each chapter. E.g Classical Management Theory, what theorists came up with it? Fayol. How and what did he do, etc.

For examples, you can easily use those you have learnt in history or current (e.g Talking about companies that almost went bankrupt due to management policies, you can use Apple (1997) ). Just read the newspapers once in a while, or check news feeds for the more tech-savy crowd.

Using given mindmaps/notes by lecturers will NOT make the points sink in your mind as quickly. Write them yourself, you will collect your thoughts quicker and most importantly you will have less things to last-min memorize if everything is planned from the start.

 

[chiwawa23]

Me. Under Diana Tan.
====

Eh, chiwawa23, you damn kan cheong spider sia. Haiz, but it is good ba. Better to be kan cheong than regretting that you failed the module. Just do things (e.g. crashing classes, being annoying, etc) in moderation 'kay?

Also, advice you to do proper time management for IBM. I got 70+ for IBM then, and I wrote max one side for each question. You need not write like a maniac. 1 question 4 pages is overkill. Get a good framework, and keep your points relevant. Jia You.

Yea, senior, scared of failing the module/exam....will do in moderation ah, no worries man....

1 qns 4 pages but then got divided into part a and b leh....And thanks for the encouragement and advice ah. Deeply appreciated

 

[chiwawa23]

Yes, to be honest. But a good framework is key. I advice first-years taking IBM to make their own notes/mindmap in bullet/point form for each chapter. E.g Classical Management Theory, what theorists came up with it? Fayol. How and what did he do, etc.

For examples, you can easily use those you have learnt in history or current (e.g Talking about companies that almost went bankrupt due to management policies, you can use Apple (1997) ). Just read the newspapers once in a while, or check news feeds for the more tech-savy crowd.

Using given mindmaps/notes by lecturers will NOT make the points sink in your mind as quickly. Write them yourself, you will collect your thoughts quicker and most importantly you will have less things to last-min memorize if everything is planned from the start.

Senior, many thanks for the advice and study tips given. Deep appreciation and will heed your advice ah.

 

[ff8squall]

Me. Under Diana Tan.
====

Eh, chiwawa23, you damn kan cheong spider sia. Haiz, but it is good ba. Better to be kan cheong than regretting that you failed the module. Just do things (e.g. crashing classes, being annoying, etc) in moderation 'kay?

Also, advice you to do proper time management for IBM. I got 70+ for IBM then, and I wrote max one side for each question. You need not write like a maniac. 1 question 4 pages is overkill. Get a good framework, and keep your points relevant. Jia You.

B&F student need to take ibm? I thought it's pbf.

 

[INVS 2.0]

B&F student need to take ibm? I thought it's pbf.

I think Koi_Fish mistook b&f as "business & finance"?

 

[ff8squall]

I think Koi_Fish mistook b&f as "business & finance"?

I looked through the prospectus and it's actually possible for a B&F student to take ibm. My bad

 

[-iMike-]

Hi guys, I got a maths problem. I don't know how to solve this question:

A firm is a monopoly for the good it produces. Its average variable cost function is AVC = q^2 + 4 and it has fixed costs of 1. The demand equation for its good is given by q= 20-p . Find expressions, in terms of q, for the total revenue and profit functions. Determine the production level q that gives the maximum profit. Also, find this maximum profit.

Thank you in advance!

 

[ff8squall]

Hi guys, I got a maths problem. I don't know how to solve this question:

A firm is a monopoly for the good it produces. Its average variable cost function is AVC = q^2 + 4 and it has fixed costs of 1. The demand equation for its good is given by q= 20-p . Find expressions, in terms of q, for the total revenue and profit functions. Determine the production level q that gives the maximum profit. Also, find this maximum profit.

Thank you in advance!

VC=q^3+4q

TC=q^3+4q+1

q=20-P
p=20-q
pq=TR=20q-q^2

Profit= TR-TC=20q-q^2-q^3-4q-1=16q-q^2-q^3-1


Maximum profit, (Profit)^1=0 which is 16-2q-3q^2

q=2 or-8/3



Maximum profit, sub q=2 into profit equation, it gives 19.

 

[chiwawa23]

Hi guys, I got a maths problem. I don't know how to solve this question:

A firm is a monopoly for the good it produces. Its average variable cost function is AVC = q^2 + 4 and it has fixed costs of 1. The demand equation for its good is given by q= 20-p . Find expressions, in terms of q, for the total revenue and profit functions. Determine the production level q that gives the maximum profit. Also, find this maximum profit.

Thank you in advance!

p = 20 - q
TR = p x q = (20-q)q = 20q - q^2
TVC = AVC x q = (q^2+4)q = q^3 + 4q
TVC = TC - FC
TC = TVC + FC = q^3 + 4q + 1
Profit = TR - TC = 20q - q^2 - q^3 + 4q + 1
= -q^3 - q^2 + 24q + 1

The rest not sure le......funny leh, got cube de.....

 

[ahnic89]

Anyone from manfred de econs class mah?? Coz the assignment gt qns dunno hw do

 

[Deadpool.]

Hi guys, I got a maths problem. I don't know how to solve this question:

A firm is a monopoly for the good it produces. Its average variable cost function is AVC = q^2 + 4 and it has fixed costs of 1. The demand equation for its good is given by q= 20-p . Find expressions, in terms of q, for the total revenue and profit functions. Determine the production level q that gives the maximum profit. Also, find this maximum profit.

Thank you in advance!

AVC = q^2 + 4
TFC = 1
q = 20-p
TR = pq = q(20-q) = 20q - q^2

Profit n = TR - TFC - TVC
= (20q - q^2) - 1 - q(q^2 + 4)
= 20q - q^2 - 1 - q^3 - 4q
= 16q - q^2 - q^3 - 1

dn/dq = 16 - 2q - 3q^2
=0

3q^2 + 2q - 16 = 0
(3q+8)(q-2) = 0
q = -8/3 (NA) or 2

dn2/dq2 = -6q - 2
= -12 - 2
= -14
Therefore q = 2 is max profit.

q = 2,
profit n = 19

 

[Deadpool.]

Avc=q^2+4

TC=q^2 + 4+1=q^2+5

q=20-P
p=20-q
pq=TR=20q-q^2

Profit= TR-TC=20q-2q^2-4

Maximum profit, (Profit)^1=0 which is 20-4q =0,q=5 2nd derivative is -4, which shows that it gives a maximum.


Maximum profit, sub q=5 into profit equation, it gives 46.

q^2 + 4 is the AVC, how can the TC be AVC + TFC? Should be AVC(q) + TFC.

Also, going by your working, Profit = TR-TC should be = (20q-q^2) - (q^2+5) = 20q - 2(q^2) - 5, not 20q-2(q^2)-4.

 

[ff8squall]

q^2 + 4 is the AVC, how can the TC be AVC + TFC? Should be AVC(q) + TFC.

Also, going by your working, Profit = TR-TC should be = (20q-q^2) - (q^2+5) = 20q - 2(q^2) - 5, not 20q-2(q^2)-4.

typo error, my bad. I didn't use TFC or TVC as part of my working though. Since FC is essentially TFC. i just treat TC=VC+FC
VC=AVC*Q and work out from there. I forgot about VC=AVC*Q from my previous working.