HW1

(Case Study) This problem has two parts. Solve the both parts. A: Consider you are at the decision maker of a firm which produce personal computers. A forecasting report in a reliable business newspaper tells that the demand for personal computers will increase by 8-10 percent over the next six months. Now based on this information, draw the expected demand and supply curves of your firm and explain what will be expected quantities of demand, supplies, and the prices. Answer:   B: Consider yourself as a decision maker in the firm that sell software to a large personal computers manufacture. What will be your business strategy after reading the above information? (Draw the expected demand and supply curves of your firm and explain what will be expected quantities of demand, supplies, and the prices).

Attempts 9. Exercise 3.9 The Sydney Transportation Company operates an urban bus system in New South Wales, Australia. Economic analysis performed by the firm indicates that two major factors influence the demand for its services: fare levels and downtown parking rates. Table 1 presents information available from 2005 operations. Forecasts of future fares and hourly parking rates are presented in Table 2. Table 1 Average Daily Transit Riders Average Downtown Round-Trip Fare Parking Rate Year 2006 2007 Average / 1 (2005) 5,000 (Dollars) 1.00 1.25 (Dollars) 1.00 Table 2 Round-Trip Fare Average Parking Rates (Dollars) 2.50 2.50 (Dollars) 1.50 Sydney's economists supplied the following information so that the firm can estimate ridership. Based on past experience, the coefficient of cross elasticity between bus ridership and downtown parking rates is estimated at 0.2, given a fare of $1.00 per round trip. This is not expected to change for a fare increase to $1.25. The price elasticity of…

MULTIPLE CHOICE.  Choose the one alternative that best completes the statement or answers the question. Figure 3-1 1) Refer to Figure 3-1. An increase in the expected future price of the product would be represented by a movement from          1) _______   A) Ato B. B) B to A. C) D1 to D         D) D2 to D1.

Chegg Home Expert Q&A My solutions Student question Time Left: 00:09:10 Which of the statements is INCORRECT? People pursue different happiness such as YOLO or FIRE. Money is not related to happiness at all. On average, experiential purchases are more likely to make people happy compared to material purchases. We need to understand our own well-being first to better understand consumer well-being. Which of the statements is INCORRECT? O People pursue different happiness such as YOLO or FIRE. O Money is not related to happiness at all. O On average, experiential purchases are more likely to make people happy compared to material purchases. O We need to understand our own well-being first to better understand consumer well-being. く

1. Suppose that a manufacturer can produce a part for $8.00 with a fixed cost of$3,000. ​Alternately, the manufacturer could contract with a supplier in Asia to purchase the part at a cost of $10.00​,which includes transportation. a. If the anticipated production volume is 1, 400 units, compute the total cost of manufacturing and the total cost of outsourcing. b. What is the best​ decision?   2. A bank developed a model for predicting the average checking and savings account balance as balanceequals - 16,079+398 x age+1,322 x years education +0.125 xhousehold wealth. a. Explain how to interpret the numbers in this model. b. Suppose that a customer is 25 years​ old, is a college graduate​ (so that years education =16),and has a household wealth of $120,000. What is the predicted bank​ balance? A.The number -16,079 The number 398 The number 1,322 The number 0.125

Problem: An art museum is opening a new exhibit soon and wants to know what percentage of museum attendees will return to see the new exhibit. During two afternoons, a Thursday and a Saturday, they ask randomly-selected people exiting the museum, "Would you consider returning for our exciting new exhibit opening in two weeks?" What was good about this survey? What could be improved?

Questions 1 through 6 will ask you to consider the market for antibiotics.  On November 23, 2022, the New York Times published a story titled “Flu and R.S.V. Hit the Holidays, Heightening Demand for Antibiotics and Antivirals”.  You do not have to read the story to understand the setup of these questions. Please, carefully read each question to understand when these changes are introduced into the initial scenario. Here is what you should focus on to complete your analysis. For this analysis, assume the antibiotic market is perfectly competitive, demand is downward-sloping, supply is upward-sloping, and production technology results in traditional U-shaped MC, ATC, and AVC Finally, for all questions, assume market price is always greater than the minimum of the AVC You will be using the same graph in all questions that require a graph (Questions 1, 3, and 5), with each question asking you to add new elements to the graph as part of your analysis.  QUESTION 2-  Please refer to your…

20) This decision tree represents the expected profits and the standard deviations associated with three decisions facing a mobile phone producer (All figures are in millions of dollars). The root node (the one on the left) represents the decision of whether to produce the phones in China or North America. The second pair of nodes represent the decision of whether to market the phones in China or North America; and the final nodes represent the choice of selling price: if the phones are sold in China, they will be sold for either $30 or $40, whereas if they are sold in North America, they will be sold for either $40 or $50. Based on the calculated values, what is the company's best strategy? Mean $30 1.250, sd 750 Sell China $40 Mean 375, sd = 625 Make in China Mean= -1,000, sd = 1,500 $40 Sell NA S50 Mean =-1,500, sd = 1,250 Sell China $30 $40 Make in NA Mean 1,250, sd.- 2,137 Sell NA $40 S50 Mean --250, sd-1.639

Complete the following table. Missing values are denoted by a number inside parentheses (X). Place your answers in the corresponding numbered fields below the table. Quantity FC VC TC AFC AVC ATC MC 0 144 0 (1) 1 2 3 4 --- (2) (3) 179 (4) (5) (6) (7) (8) (9) (10) (11) 30 (12) (13) (14) (15) (16) (17) (18) (19) 15 (20) (21) (22) (23) (24) 60 (25)

Please see attachment and type out the correct answer ASAP with proper explanation . Thank you .   A company is considering investing in a new machine that makes the production process more efficient. The machine costs $15,000 and will lower the variable unit costs by $2. The goal of the investment is to increase production, allowing the company to benefit from the experience curve and selling the product $3 cheaper than the current price of $38. What is the percentage change in the number of units sold if the company wants to maintain its profitability? Assume it is currently producing 10,000 units of the product and has a current contribution of $10 per unit sold.

Which of the following statements is (are) correct?(x) If the number of sellers in a market increases, then the supply curve for the good shifts to the right.(y) If the federal government places regulations on the production and sale of a good, it is probable that the costs of production will increase and the supply curve for the good will shift to the left.(z) If buyers change expectations and now believe that the price of the product will fall in the future, then they will increase demand today before the price decrease occurs.A. (x), (y) and (z) B. (x) and (y) onlyC. (x) and (z) only D. (y) and (z) onlyE. (y) only

Question 20 ♫ "Lemon Laws" in many areas allow purchasers of used cars to return the cars within six months if they discover problems with the cars. Why might these laws help markets for used cars be more efficient than if the laws did not exist? Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer. 3 They take away the difference in the information that buyers and sellers have about used cars by giving buyers enough time to find out the true condition of the car. b They create a public good by providing information about used cars to everyone. They create a common resource by letting everyone know about the condition of used cars. d They force the seller to tell the buyer everything about the used car.

===>Please explain correct and incorrect option   A increase in the excise tax on gasoline: Multiple Choice 1.) lowers the price of gasoline by shifting the supply curve right. 2.) has no effect on the price of gasoline since the seller pays the tax. 3.) raises the price of gasoline by shifting the supply curve left. 4.) raises the price of cars by shifting the demand curve right.   Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer.  Take care of plagiarism. Answer completely. You will get up vote for sure.

Assignment 2 - Chapter 7 (5 Marks) Question In what ways do the classical and administrative models of decision-making help managers appreciate the complexities of real-world decision-making? (Minimum 250 and maximum 400 words, type your answer in the BB submission box below). Small paragraph on Classical Model Small paragraph on Administrative Model

Question 1 You are hired as a consultant for Skater Boys Incorporated, a firm with over five years experience in the skate board industry.Due to changing demand and a move to environmentally friendly products, the company wishes to enter the market with a new eco- friendly finish on its skate boards. Based on your analysis of the company's operations, Skater Boys Inc has three main choices. After careful inspection of their current equipment the company can spend $800 in refurbishment of their old equipment or make major modifications to its operations at a cost of $1100. If these options are not taken, they can also choose to purchase new equipment at a cost of $1800. If the firm chooses to refurbish their existing equipment, materials and labour per skate board will be $1.10 while a material and labour cost of $0.70 per board is associated with the major modification choice. If however the company chooses to buy new equipment, the associated variable cost is estimated to be $0.40 per…

Question 1 You are hired as a consultant for Skater Boys Incorporated, a firm with over five years experience in the skate board industry.Due to changing demand and a move to environmentally friendly products, the company wishes to enter the market with a new eco- friendly finish on its skate boards. Based on your analysis of the company's operations, Skater Boys Inc has three main choices. After careful inspection of their current equipment the company can spend $800 in refurbishment of their old equipment or make major modifications to its operations at a cost of $1100. If these options are not taken, they can also choose to purchase new equipment at a cost of $1800. If the firm chooses to refurbish their existing equipment, materials and labour per skate board will be $1.10 while a material and labour cost of $.70 per board is associated with the major modification choice. If however the company chooses to buy new equipment, the associated variable cost is estimated to be $0.40 per…

Question 2: Calculate the missing values in the following table. Show all formula and calculations in detail. (Answers not showing the details of calculations & formula will be awarded only fifty percent marks for this question.) (10 marks) Output (Units) TC (OMR)AC (OMR) MC (OMR) 55 1 85 110 3 130 4 40 15 |42 280 17 90 8 110 19 610 10 150

arrow_forward   Question Asked Jun 23, 2020 1 views Management of Ben Services identified two groups of individuals that would be interested in the vacation package consisting of room and board and/or entertainment. The maximum amount that group 1 is willing to pay for room and board is GHC 2500 and for entertainment is GHC 500. For group 2, the maximumamount they are willing to pay for room and board is GHC 1800 and forentertainment is GHC 750. Although Ben is not able to identify members of either group, it does know that each group values the components of the package differently. Assuming there are an equal number of members in each group and that the total membership in each group is a single individual. If the marginal cost of providing the service (room and board and/or entertainment) to each group is GHC 1000. i. If AG Travel and Tour wants to charge a package price, what is the highest price it can charge? ii. What profit will AG Travel and Tour make if it…

Hello! Can you please answer the remaining questions? [9] Suppose an environmental regulator is concerned with efficient emissions control. The regulator uses its perception about the aggregate marginal abatement cost to determine the emissions tax. What tax rate does the regulator set? [10] Suppose there is uncertainty about firms’ marginal abatement costs. Describe the relationship between AMAC and MD in which taxes would lead to lower efficiency losses compared to permits.

QUESTION 10 Mrs Cook is an English teacher. If a student forgot their memorised speech in the middle of it, Mrs Cook would permit them to look at a copy of their script, then continue. Jenny is lazy and does not want to memorise her speech. Instead of memorising the whole thing, she only memorises her introduction, knowing that Mrs Cook would just let her see her script if she forgot everything after that. Answer the following questions: a. How would Mrs Cook's rule of allowing students to look at their script if they forgot their speech affect the likelihood of students memorising their speeches? D Type in D for decrease, R for remains the same, C for increase, or U for unable to tell. b. The above answer demonstrates the occurrence of which economic concept? M issue, C for Competitive market, L for Lemons Model, A for Adverse selection. Type in M for Moral hazard, P for Principal agent c. If Mrs Cook decides to penalise students that have to look at their script with a 5% deduction…

19) A manager of a manufacturing enterprise is considering whether to produce an intermediate good in house or to buy it from another firm. If the good is produced in house, three potential outcomes are possible: (i) if production is done in one shift, then expected profit is - $30 000 per year, (ii) if production is done in two shifts, then expected profit is $10 000, and (iii) if production is done in three shifts, then expected profit is $55 000. Probabilities associated with these outcomes were estimated as 35%, 45% and 20% respectively. However, if the good is purchased, two potential outcomes arise: (i) on-time delivery of the good results in $20 000 of expected profit, (i) delays in delivery result in an expected loss of - $17 000. Probabilities of these outcomes are 60% and 40% respectively. Draw a decision tree, and execute it to make a decision.