Tag: Economics – Others

How would each of the following affect the firm’s marginal cost (MC), average variable cost (AVC), and average total cost (ATC) curves?
A decrease in material costs.
no change MC, no change AVC, decreases ATC
increase MC, increase AVC, increase ATC
increase MC, no change AVC, increase ATC
decrease MC, decrease AVC, decrease ATC
no change MC, no change AVC, increases ATC
decrease MC, no change AVC, decrease ATC
The rent that the firm pays on the building that it leases decreases.
no change MC, no change AVC, decreases ATC
increase MC, increase AVC, increase ATC
increase MC, no change AVC, increase ATC
decrease MC, decrease AVC, decrease ATC
no change MC, no change AVC, increases ATC
decrease MC, no change AVC, decrease ATC
An increase in wages.
no change MC, no change AVC, decreases ATC
increase MC, increase AVC, increase ATC
increase MC, no change AVC, increase ATC
decrease MC, decrease AVC, decrease ATC
no change MC, no change AVC, increases ATC
decrease MC, no change AVC, decrease ATC
The government imposes a fixed amount of tax.
no change MC, no change AVC, decreases ATC
increase MC, increase AVC, increase ATC
increase MC, no change AVC, increase ATC
decrease MC, decrease AVC, decrease ATC
no change MC, no change AVC, increases ATC
decrease MC, no change AVC, decrease ATC

How would each of the following affect the firm’s marginal cost (MC), average variable cost (AVC), and average total cost (ATC) curves?
The government imposes a fixed amount of tax.
(A) decrease MC, no change AVC, decrease ATC
(B) increase MC, increase AVC, increase ATC
(C) no change MC, no change AVC, increases ATC
(D) increase MC, no change AVC, increase ATC
(E) decrease MC, decrease AVC, decrease ATC
(F) no change MC, no change AVC, decreases ATC
An increase in wages.
(A) decrease MC, no change AVC, decrease ATC
(B) increase MC, increase AVC, increase ATC
(C) no change MC, no change AVC, increases ATC
(D) increase MC, no change AVC, increase ATC
(E) decrease MC, decrease AVC, decrease ATC
(F) no change MC, no change AVC, decreases ATC
A decrease in material costs.
(A) decrease MC, no change AVC, decrease ATC
(B) increase MC, increase AVC, increase ATC
(C) no change MC, no change AVC, increases ATC
(D) increase MC, no change AVC, increase ATC
(E) decrease MC, decrease AVC, decrease ATC
(F) no change MC, no change AVC, decreases ATC
The rent that the firm pays on the building that it leases decreases.

QUESTION 4) A company manufactures electronic gadgets. Every day, raw materials arrive at the warehouse and are inspected for quality. Once approved, materials move to production, where assembly begins. After assembly, products undergo quality testing. Approved products are packed and sent to the warehouse for storage. Customer orders are received daily, and warehouse staff pick, pack, and ship the items to customers. Inventory levels are reviewed weekly to decide when to reorder raw materials. The company aims to streamline these processes to reduce delays and improve efficiency.
Questions:
Draw a flowchart showing the raw materials inspection and approval process in the company.
Draw a flowchart illustrating the production and assembly workflow from materials to finished products.
Draw a flowchart of the quality testing and packing process for the finished products.
Draw a flowchart representing the order fulfillment process starting from order receipt to shipping.
Draw a flowchart for the inventory review and reordering process to maintain adequate raw materials.
NOTE : DO NOT UPLOAD IMAGE DRAW THE FLOWCHART ALL OF THE ABOVE QUESTIONS

Question 14 options:
A small business owner is deciding how to invest their savings. They are considering two investment options. The return from each investment depends on how the economy performs. The possible economic conditions are Good, Average, and Poor. The payoffs are in dollars ($), and probabilities are provided.
Investment Payoffs
Investment Option
Good (P = 0.5)
Average (P = 0.3)
Poor (P = 0.2)
Option A
1,000
500
200
Option B
700
700
700
Using the expected value approach, which decision is preferred? Please enter the correct letter (A or B) in the box below.
Answer (A or B):
Suppose the decision maker has the following utility values for monetary payoffs:
Utility Function
Monetary Value ($)
Utility
0
0.00
200
0.20
500
0.35
700
0.45
1,000
0.50
Using the expected utility approach, which investment should the business owner choose? Enter A or B:
Answer (A or B):
This business owner is a risk taker or avoider?
Answer (risk taker or avoider):
Suppose another decision maker has the following utility function:
Utility Function (Second Decision Maker)
Monetary Value ($)
Utility
0
0.00
200
0.25
500
0.60
700
0.80
1,000
1.00
Using the expected utility approach, which investment should this second business owner choose? Enter A or B:
Answer (A or B):
This business owner is a risk taker or avoider?
Answer (risk taker or avoider):

Question 8 1 pts Consider the file HW4-Short Run & Long Run. Suppose that a technological progress takes place and as a result the average cost of production decrease by 8 dollars (The ATC curve shifts down vertically by $8). Then, in the long run, the equilibrium price of the product will equal dollars per unit, the equilibrium quantity units, and there will be firms in the industry each making an economic profit of dollars.
Question 10 Consider the file HW4-Short Run & Long Run and ignore everything that happened in the previous two questions. Start from the beginning. Assume that this is a constant-cost industry. Suppose that the demand for this product increases by 1,200 units and stays at this new higher level forever. Then, in the short run, the equilibrium price of the product will equal dollars per unit, the equilibrium quantity units, and there will be firms in the industry each making an economic profit of dollars. In the long run, the equilibrium price of the product will equal dollars per unit, the equilibrium quantity units, and there will be firms in the industry each making an economic profit of dollars.

3. Agreement and disagreement among economists
Suppose that Tim, an economist from a consulting firm, and Alyssa, another economist from a nonprofit institution in the Midwest, are both guests on a popular science podcast. The host of the podcast is facilitating their debate over health insurance. The following dialogue represents a portion of the transcript of their discussion:
Alyssa:
A popular topic for debate among politicians as well as economists is the idea of providing government assistance for health benefits.
Tim:
I think it is oppressive for the government to tax people who take care of themselves in order to pay for health insurance for those who are obese.
Alyssa:
I disagree. I think government funding of health insurance is useful to ensure basic fairness.
The disagreement between these economists is most likely due to .
Despite their differences, with which proposition are two economists chosen at random most likely to agree?
Having a single income tax rate would improve economic performance.
Immigrants receive more in government benefits than they contribute in taxes.
Rent ceilings reduce the quantity and quality of available housing.

MA127-4-FYWhat is the price elasticity of demand on the following demand curveQd=60-15P P2at a price of P=5 ?
(a) 1.5
(b) -2.5
(c) 0
(d) -0.5
[2.5 mark]
2. A consumer’s demand curve for Good x is represented by the equation_Qd=60-0.3Pwhere Qd is the quantity of Good x demanded and P is the price of Good x. A producer’s supply curve for Good x is represented by the equation_Qs=15 1.2Pwhere Q, is the quantity of Good x supplied. What is the equilibrium quantity and equilibrium price for Good x ?
(a) Equilibrium quantity is 30 and equilibrium price is 100 .
(b) Equilibrium quantity is 42 and equilibrium price is 60 .
(c) Equilibrium quantity is 51 and equilibrium price is 30 .
(d) Equilibrium quantity is 54 and equilibrium price is 20 .
[2.5 mark]
3. Which of the following factors determine the effectiveness of discretionary fiscal policy?
(a) The accuracy of forecasting the course which the economy would take without the policy.
(b) The ability to forecast the magnitude of the effect of changes in government spending and taxation on other injections and withdrawals.
(c) The ability of governments to act quickly.
(d) All of the above.
[2.5 mark]

The Evolution of the Global Monetary System
The international monetary system has evolved as governments’ needs have changed and as these governments respond to domestic and international conditions. Private investors and speculators also have a major impact, sometimes to the disadvantage of specific countries. During the 20th century, the international monetary system underwent major transformations to respond to the needs of governments, international businesses, and currency traders.
Although supply and demand determine the relative value of any two currencies through the foreign exchange market, governments also have a major impact. The exchange rate policy adopted by a government will affect international business operations in that country. Because discussion and debate still surround the institutions in the system, businesses need to be aware of their history and evolution.
Match the description to the appropriate development in the evolution of the global monetary system.
Gold Standard (1880)2Devaluing Bretton WoodsJamaica Agreement (1944)4 (1976) Currencies (1930s)Fixed Rate Collapse (1973)
Match each of the options above to the items below.

Read and undenstand the Comporato Governatice in practice regards to consumer protection and answer the question belowThe desire by businesses to achieve strong competitive advantage through horizontal integration, related economies of scale involving large sales volumes and large barriers to entry could ultimately result in a corporation achieving a monopolistic position in a market. Seeking to maximize sales, Corporation A agreed with two of its competitors that it would place a high tender for a construction contract if they would agree to do the same for a future construction contract.What kind of unlawful market behaviour would most accurately be described as taking place?
i. Horizontal exclusive dealing
ii. Bid rigging
iii. Predatory pricing
iv. Cartel conduct involving price agreements
52.Read and understand the Corporate Governance in practice in regards to breaching and answer the question below.Whistle-blowers in Australia are protected in respect of disclosures about:
(i.) Breaches of company law
ii. Breaches of anti-bias in employment rules
iii. Breaches of environmental protection rules
iv. Breaches of occupational health and safety

Molle only
George only
Mollie and Jeanette
George and Picardo
Use the following information to answer the next question. The following items describe the responses of four indilduals to a Bureau of Labor Statistics (BLS) survey of employment.
Molle just graduated from college and is noww looking for work. She hes had three job interviews in the pest morth but stil has not gotten a job offer
George used to work in an suatomotive essembly plant. He wes leld off sle months ago as the economy weskened. He expects to return to work in a few months when netional economic conditions improve.
Jeanette worked as an alrcraft deslign engineer for a company that produces miltary aircratt until she iost her job lest year when the federal government cut defense spending. She has been looking for similar work for a year but no company seems interested in her aincrift design skilis.
Ricardo lost his job last yeser when his compamy downslzed and leid off middie-level managers. He tried to find another job for a year but was unsuccessful and quit looking for work.
Which individual(s) would be included in the calculation of the natural unemployment rate?