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Graded Discussion Board

managerial economics (eco404)

 

Dear Students!

This is to inform that Graded Discussion Board (GDB) No. 01 will be opened on Nov 20, 2015 for discussion and last date for posting your discussion will be Nov 24, 2015.

                                                                                                         

This Graded Discussion Board will cover first 12 lessons.

THE CASE:

Engro Company was established in 2003. Engro decided to expand its business more by offering into the food business so it has established Engro Foods Limited in 2005. Engro Foods (EFOODS) is now one of the top FMCG companies in Pakistan. The company is involved in the manufacturing, processing and marketing of dairy products, ice cream, frozen desserts and fruit juices. It has recognized several brands that have already become household names in Pakistan such as Olper's, Tarang, Dairy Omung, Omung Lassi, Olper's Lite and Omore, amongst others. The company is growing rapidly to achieve expected reductions in average costs as production expands.

Requirement:-

Being the student of managerial economics you are required to explain precisely ‘Does the success of Engro Foods (EFOODS) reflect an effective application of the marginal profit concept or the incremental profit concept? Explain logically. 

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Replies to This Discussion

THE CASE:

Engro Company was established in 2003. Engro decided to expand its business more by offering into the food business so it has established Engro Foods Limited in 2005. Engro Foods (EFOODS) is now one of the top FMCG companies in Pakistan. The company is involved in the manufacturing, processing and marketing of dairy products, ice cream, frozen desserts and fruit juices. It has recognized several brands that have already become household names in Pakistan such as Olper's, Tarang, Dairy Omung, Omung Lassi, Olper's Lite and Omore, amongst others. The company is growing rapidly to achieve expected reductions in average costs as production expands.

Requirement:-

Being the student of managerial economics you are required to explain precisely ‘Does the success of Engro Foods (EFOODS) reflect an effective application of the marginal profit concept or the incremental profit concept? Explain logically. 

lets start discussion 

G Asif Bhai, sure

TOTAL, AVERAGE, AND MARGINAL RELATIONS
Total, average, and marginal relations are very useful in optimization analysis. The relationship between total, average and marginal concepts is extremely important in optimization analysis. A marginal relation is the change in the dependent variable caused by a one-unit change in an independent variable. For example, marginal revenue is the change in total revenue associated with a one-unit change in output; marginal cost is the change in total cost following a one-unit change in output; and marginal profit is the change in total profit due to a one-unit change in output.

Friends,

Though this concept high-lights the marginal cost and marginal cost but it will help to understand the requirement of GDB

MARGINAL COST VERSUS INCREMENTAL COST
In discussing production costs, we must also distinguish between marginal cost and
incremental cost. Marginal cost refers to the change In total cost for a 1-unit change in output. For example, if total cost is $140 to produce 10 units of output and $150 to produce 11 units of output, the marginal cost of the eleventh unit is $10. Incremental cost, on the other hand, is a broader concept and refers to the change in total costs from implementing a particular management decision, such as the introduction of a new product line, the undertaking of a new advertising campaign, or production shift.

Based on my study of the case, in my opinion, Engro is using the incremental profit concept.

yes, as per my understanding you r right brother. Engro food is using the incremental profit concept.

how can you say that incremental profit concept is used?

Kuch smajh nahein aa rahi is GDB ki, confuse ker k rakh diya hai

Adeel Bhai, please read the case of GDB twice and my posted comments on marginal profit and incremental profit.

You will get the answer

Please Discuss here about this GDB.Thanks

Our main purpose here discussion not just Solution

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