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Kuzen · 2024年05月24日

B错了

NO.PZ2022120702000065

问题如下:

Food service operators are seeing one of the most important and growing trends in the past decade – the “gourmetisation” of fast food into a new category of food service called fast casual. One of the strongest restaurant concepts fast casual restaurants do not offer a full table service; however, they do advertise higher quality food in comparison to fast food restaurants. As a result, fast casual restaurants are perceived as an intermediate option between fast food and casual dining, and usually priced accordingly. Fast casual is now the fastest growing category in the food serviceindustry.

Below is information from two German companies in the fast casual restaurant sub- sector, which may or may not be material.


Regulators are discussing a ban on single-use plastic. How might this impact Company A and Company B financially?

选项:

A.Company A’s cost of capital would increase more than Company B’s because of its higher use of single-use plastic. B.Company A’s costs would increase by .6 multiplied by the difference between the price of the single-use plastic and its alternative. C.Company B’s costs would reduce by .5 multiplied by the average cost of the single- use plastic used in its stores. D.Company B’s costs would increase by .5 multiplied by the average cost of the alternative to single-use plastic.

解释:

监管机构正在讨论禁止使用一次性塑料,因此可以首先确定,两家公司对一次性塑料的使用会增加其成本。具体增加的成本为其每年一次性塑料的用量乘以一次性塑料和替代品的价格之差。

材料给的是A公司每年用一次性塑料0.6tons,没有提替代品价格啊,A用0.6tons,B用0,5tons,禁塑令后A比B公司高啊,怎么A不对了?

1 个答案

净净_品职助教 · 2024年05月24日

嗨,努力学习的PZer你好:


题目要求分析禁止使用一次性塑料对A公司和B公司财务上的影响。

题目给出的材料:

  • A公司每年使用一次性塑料0.6吨。
  • B公司每年使用一次性塑料0.5吨。

解释材料指出,禁塑令会使公司使用一次性塑料的成本增加。具体增加的成本为公司每年一次性塑料用量乘以一次性塑料和替代品的价格之差。

  • 选项A:A公司的资本成本会比B公司的增加更多,因为它使用的一次性塑料更多。
  • 这个选项并不准确,因为题目并没有涉及资本成本的变化,而只是讨论使用一次性塑料的成本。资本成本是融资的成本,也是绝对估值法模型中的分母折现率。






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努力的时光都是限量版,加油!

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