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19 Cards in this Set
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ECO 550 All Homework Chapters
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ECO 550 Week 1 Chapter 1 and 2
ECO 550 Week 2 Chapter 3 and 4 ECO 550 Week 3 Chapter 5 and 6 ECO 550 Week 4 Chapter 7 and 8 ECO 550 Week 5 Chapter 9 and 10 ECO 550 Week 6 Chapter 11 and 12 ECO 550 Week 7 Chapter 13 and 14 ECO 550 week 8 Chapter 15 Questions 2,5,6 ECO 550 Week 9 Chapter 16 ECO 550 Week 10 Chapter 17 |
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ECO 550 All Assignments
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ECO 550 Assignment 1 Making Decisions Based on Demand and Forecasting
ECO 550 Assignment 2 Operations Decision ECO 550 Assignment 3 Market Model Patterns of Change ECO 550 Assignment 4 Long-Term Investment Decisions |
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ECO 550 Assignment 1 Making Decisions Based on Demand and Forecasting
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Assignment 1: Making Decisions Based on Demand and Forecasting
Domino’s Pizza is considering entering the marketplace in your community. Conduct research about the demographics of your community, for example the population size and average income per household and other independent variables, such as price of pizza and price of soda, for this assignment. By conducting a demand analysis and forecast for pizza, you will be able to make a decision whether Domino’s should establish a presence in your community. |
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ECO 550 Assignment 2 Operations Decision
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Assignment 2 "Operations Decision"
Assume you have been hired as a managing consultant by a company to offer some advice that will help it make a decision as to whether it should shut down completely or continue its operations. It currently uses 100 workers to produce 6,000 units of output per month (working 20 days / month). The daily wage (per worker) is $70, and the price of the firm's output is $32. The cost of other variable inputs is $2,000 per day. You are told that the firm's fixed cost is “high enough” so that the firm's total costs exceed its total revenue. The marginal cost of the last unit is $30. (Ch 7 & 8 to solve) |
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ECO 550 Assignment 3 Market Model Patterns of Change
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Assignment 3 "Market Model Patterns of Change"
Choose and research a specific business that is publicly traded where there has been a pattern of change in a particular market model (monopoly, oligopoly, etc.). Write a five (5) page paper in which you: Describe the business and explain the general pattern of change of the particular market model indicating how this change is likely to impact business operations. Hypothesize the basic short-run and long-run behaviors of the model in the business you have chosen in a “market economy.” |
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ECO 550 Assignment 4 Long-Term Investment Decisions
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Assignment 4: Long-Term Investment Decisions
Assume that the industry you wrote about in Assignment 3 wants to expand and has to make some longterm capital budgeting decisions. Now the industry is confronted with government regulations to oversee the merger. Write a four to five (4-5) page paper in which you: 1. Explain why government regulation is or is not needed, citing the major reasons for government involvement in a market economy. Provide support for your explanation. |
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ECO 550 Week 1 Chapter 1 (Ex.2,3,4) and Chapter 2 (Ex.1, 5, 6)
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Chapter 1: Exercises 2, 3, and 6
2. Explain several dimensions of the shareholder-principal conflict with manager-agents known as the principal-agent problem. To mitigate agency problems between senior executives and shareholders, should the compensation committee of the board devote more to executive salary and bonus (cash compensation) or more to long-term incentives? Why? What role does each type of pay play in motivating managers? 3. Corporate profitability declined by 20 percent from 2008 to 2009. What performance percentage would you use to trigger executive bonuses for that year? Why? What issues would arise with hiring and retaining the best managers? |
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ECO 550 Week 2 Chapter 1 & 2 Quiz 1
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Question 1
1. When multiple facts about a sample set are known, a(n) _____ heuristic makes the choice on the basis of the first category of facts in which the samples differ. elimination representative recognition availability Question 2 |
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ECO 550 Week 2 Chapter 3(P-3,4,7) and 4(P-5,6,7)
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Chapter 3: Problems 3, 4, and 7
3. The Olde Yogurt Factory has reduced the price of its popular Mmmm Sundae from $2.25 to $1.75. As a result, the firm’s daily sales of these sundaes have increased from 1,500/day to 1,800/day. Compute the arc price elasticity of demand over this price and consumption quantity range. 4. The subway fare in your town has just been increased from a current level of 50 cents to $1.00 per ride. As a result, the transit authority notes a decline in rider-ship of 30 percent. |
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ECO 550 Week 3 Chapter 5 (1,5,6,9) & Chapter 6 (2,7,9,10)
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Chapter 5
1. The forecasting staff for the Prizer Corporation has developed a model to predict sales of its air-cushioned-ride snowmobiles. The model specifies that sales S vary jointly with disposable personal income Y and the population between ages 15 and 40, Z, and inversely with the price of the snowmoblies P. Based on past data, the best estimate of this relationship is *YZ/P where k has been estimated (with past data) to equal 100. a. If Y = $11,000, Z = $1,200, and P = $20,000, what value would you predict for S ? b. What happens if P is reduced to $17,500? |
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ECO 550 Week 4 chapters 7 and 8
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Chapter 7
In the deep creek mining company described in this chapter table 7.1 suppose again that labor is the variable input and capital is the fixed input. Specifically, assume that the firm owns a piece of equipment having a 500-bhp rating. A. Complete the following tableLabor input L(#of workers Total production TPL (=Q) Marginal Product (MPL) Average Product APL 1 2 3 |
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ECO 550 Week 5 Chapter 9 and 10
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Chapter 9
3. A study of the costs of electricity generation for a sample of 56 British firms in 1946-1947 yielded the following long-run cost function: + .003Q + .0000029Q^2 - .000046QZ - .026Z + .00018Z^2 where variable cost measured in pence per kilowatt-hour. (A pence was a British monetary unit equal, at that time to 2 cents U.S.) measured in millions of kWh per year size, measured in thousands of kilowatts A. Determine the long-run variable cost function for electricity generation. B. Determine the long-run marginal cost function for electricity generation. |
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ECO 550 Week 5 Midterm Quiz 1
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This midterm exam consist of 32 multiple choice questions and covers the material in Chapters 1 through 8. There are four questions from each chapter.
1). The flat-screen plasma TVs are selling extremely well. The originators of this technology are earning higher profits. What theory of profit best reflects the performance of the plasma screen makers? 2). To reduce Agency Problems, executive compensation should be designed to: 3). Economic profit is defined as the difference between revenue and ____. 4). Which of the following will increase (V0), the shareholder wealth maximization model of the firm: 5). A change in the level of an economic activity is desirable and should be undertaken as long as the marginal benefits exceed the ____. |
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ECO 550 Week 5 Midterm Quiz 2
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1). The different methods by which the sellers inform their potential buyers about the product is called:
2). Jane regularly sends funds to organizations seeking to save endangered animal species. This is an example of: 3). Carla had received very low annual return from her investment portfolio comprising of stocks of five companies for two years. Her decision to continue holding the same portfolio of assets will be an example of: 4). In the example of Ireland described in the text, the country’s production set shifted outward over time because: |
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ECO 550 Week 6 Chapter 11 and 12 Problems
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Chapter 11
2. Ajax Cleaning Products is a medium-sized firm operating in an industry dominated by one large firm Tile King. Ajax produces a multi-headed tunnel wall scrubber that is similar to a model produced by Tile King. Ajax decides to charge the same price as Tile King to avoid the possibility of a price war. The price charged by Tile King is $20,000. Ajax has the following short-run cost curve: ,000 - 5,000Q + 100Q2. A. Computer the marginal cost curve for Ajax. B. Given Ajax’s pricing strategy, what is the marginal revenue function for Ajax? |
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ECO 550 Week 7 Chapter 13 and 14
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Chapter 13: Problems 2, 13, and 15
2. Consider the following payoff matrix: a. Does Player A have a dominant strategy? Explain why or why not. b. Does Player B have a dominant strategy? Explain why or why not. 13. Analyze the following sequential game and advise Kodak about whether they should introduce the new product, Picture CD. |
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ECO 550 Week 8 Chapter 15 Problems 2, 5 and 6
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Chapter 15: Problems 2, 5, and 6
2. If contract promises were not excused because of acts of war, would the clearing and settlements clients of Bank of New York change their behavior? If so,how?What reliance behavior would be considered efficient? What reliance behavior would be considered excessive? 5. Would warehouse operators insist on owning their own trucking companies? Why or why not? What coordination and control problems and contractual hazards would these companies encounter? |
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ECO 550 Week 9 Chapter 16 Problems 4, 6(a, c), 9
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Chapter 16: Problems 4, 6(a, c), 9
4. What are the incentives to innovate for a monopoly firm’s as compared with a firm in a competitive market if patent protection is not available. 6. The industry demand function for bulk plastics is represented by the following equation: Where Q represents millions of pounds of plastics The total cost function for the industry, exclusive of a required return on invested capital, is + 500Q +10Q2 |
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ECO 550 Week 10 Chapter 17 Problems 1, 5, and 9(c)
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1 . A firm has the opportunity to invest in a project having an initial outlay of $20,000. Net cash inflows (before depreciation and taxes) are expected to be $5,000 per year for five years. The firm uses the straight-line depreciation method with a zero salvage value and has a (marginal) income tax rate of 40 percent. The firm’s cost of capital is 12 percent.
a. Compute the internal rate of return and the net present value. b. Should the firm accept or reject the project? |
