...b Economics Solution (Short-run equilibrium of monopolistic Graph) Student Name: Instructor: College: Course: Date: How does your analysis of value of marginal product (VMP) change if the employer is a monopolist producer of its output but a price-taker in the labor market? Ans. Analysis of the value of marginal product (VMP) of labor is its marginal product times the price of output. Given this scenario, in which the employer is a monopolist producer of its output but a price-taker in the labor market, this would be considered perfect competition (as a price-taker), so the employer will not have to lower prices in order to sell additional units of the product. . Short-run equilibrium of the firm under monopolistic competition. The firm maximizes its profits and produces a quantity where the firm's marginal revenue (MR) is equal to its marginal cost (MC). The firm is able to collect a price based on the average revenue (AR) curve. The difference between the firms average revenue and average cost, multiplied by the quantity sold (Qs), gives the total profit. in labor market price taker means MPPL*P=Wl where MPPL=marginal physical product of labor , Wl is wage rate MPPL*P=VMPl = Wl in product market monoplist producer means MPPL*MRx=Wl where MRx is marginal revenue on selling each unit of ouptput X ...
Words: 268 - Pages: 2
...ECON 125 HK2 ECONOMICS FOR MANAGERS Exam Solutions https://hwguiders.com/downloads/econ-125-hk2-economics-for-managers-exam-solutions/ ECON 125 HK2 ECONOMICS FOR MANAGERS Exam Solutions Exam 1: Question 1 Which of the following economic systems abolishes all private property? communism socialism fascism all of the above Question 2 The profit motive is one characteristic of a command economy. True False Question 3 In a market system, the government enforces laws ensuring that private enterprises and conditions of competition will prevail. True False Question 4 The most common type of business in the United States is the corporation. True False Question 5 Laissez-faire is a policy of no government intervention in the economic activities of individuals and businesses. True False Question 6 In a partnership, each partner’s liability is limited to his or her contribution to the partnership. True False Question 7 There are no government-regulated markets in the U.S. economy. True False Question 8 Which of the following is not among the United States’ economic goals? full employment stable prices healthy economic growth equal distribution of income Question 9 Under the U.S. market system, land and capital goods are owned mainly by the federal government individuals and firms local governments state governments Question 10 The biggest disadvantage of a sole proprietorship is the...
Words: 7075 - Pages: 29
...Economics 4220 Problem Set 1 Solution Click Link Below To Buy: http://hwaid.com/shop/economics-4220-problem-set-1-solution/ Instructions: This problem set consists of two parts. The first part is comprised of 10 multiple choice questions that will be worth 2 points each. The second part is comprised of four short answer questions. You are to answer all four of the questions. Each question will be worth up to five points. Part I: Multiple Choice – You are to answer all ten of the following multiple choice questions. Each question is worth two points. Question #1: Flu vaccines provide both private benefits to individuals and positive external benefits to other members of society. Without government intervention, we would expect: A) Question #2: Steve purchase pizza which costs $3 a slice and Diet Coke which costs $0.75 a can. At his current consumption level, the marginal rate of substitution between pizza and Diet Coke is 6. Given this information, we know that Steve is: a) Question #3: Many economists have documented a strong correlation between income and environmental quality across countries – as nations (individuals) become wealthier, they are willing to spend more to protect the environment. Based on this information, environmental quality is a: a) Normal good b) Inferior good c) A private good Use the following figure to answer Questions #4 and #5 Figure: Marginal Private Benefits and Marginal Social Benefits ...
Words: 685 - Pages: 3
...TO: Kent Walker, Instructor Department of English FROM: Adegun Adediran Bachelor of Business Economics DATE: June 6th, 2014 RE: Barriers and solutions of a start up company [Case 2]. The owner of the company has requested that the company has grown enough that group meetings would be needed from now on, so the owner has told me to provide some barriers that we may face and some solutions to overcome it. One of the principles of interpersonal communication is that it’s a face-to-face communication, which makes it a transactional process. This kind of communication is simultaneous, which means it involves all communication mediums. The main purpose of this is to find some barriers of this group activity in the company and find solutions to it. Some of the barriers of this group activity are role issues, Negative individual approaches and time constraints, while the solutions to these barriers are anticipating the barriers, identifying and agreeing upon roles and applying the SMART criteria to goal. The first potential barrier is the issue of roles. In group activities there is always bound to be issues of people feeling that they are not being valued enough which causes some dissatisfaction amongst these members that feel that way, the group will also have competition which sometimes causes conflicts in the group although it is healthy for the group. Secondly, there is the...
Words: 505 - Pages: 3
...SE571 Course Project: Security Assessment and Recommendations SE571 Course Project: Security Assessment and Recommendations Charlie Furze Professor: Eddie Wachter SE571 Principles of Information Security and Privacy Keller Graduate School of Management July 24, 2015 Table of Contents Executive Summary 1 Company Overview 1 Security Vulnerabilities 3 A Hardware Example Title 3 A Software Example Title 4 Recommended Solutions 5 A Hardware Example Solution 6 A Software Example Solution 8 Impact on Business Processes 9 Budget 10 Summary 11 References 12 Executive Summary The executive summary can’t really be completed until the course project is completed. This is because the section should summarize BRIEFLY the entire paper. There should be one or two sentences about the purpose of the report, a one to two-sentence description of the company and then a quick summary of the two vulnerabilities and the two solutions that you have identified. Company Overview Here you should identify which of the two company scenarios you are using and briefly summarize the organizations products or services, and business processes. Two Security Vulnerabilities Software Vulnerability Remember, you need to choose only two vulnerabilities from the three categories: hardware, software and policy. It is recommended that you make them limited in scope and very specific. Also, before starting on this section, be sure you have a very clear...
Words: 1180 - Pages: 5
...Detailed Lesson Plan (Grade 7) 1. Objectives After providing the necessary materials, each student; 1.1 investigates the different types of solutions: -unsaturated -saturated -supersaturated 1.2 performs an actual activity about solubility. 1.3 values the common solutions that can be found at home and can be used in daily living. 1. Learning Tasks 2.1 Topic: Solutions 2.2 Concept: The unsaturated solution has a less amount of solute to be dissolved. The saturated solution can hold no more solute to be dissolved. The supersaturated solution cannot hold more solute. 2.3 Materials 2.3.1 Textbook/Other Reference -Science Grade 7: Matter (K-12 Curriculum), pages 1-16 - http://www.infoplease.com/encyclopedia/science/solution-heat-solution.html 2.3.2 Instructional Materials - video clips, materials enumerated for the experiment and activity sheet. 2. Methodology 3.1 Daily Activities 3.1.1 Prayer/ Greetings Christ Jesus Whom we open our eyes, may you be there; When we open our ears, may you be there; When we open our mouths, may you be there; When we open our diaries, may you be there. Help us to see with your eyes; Help us to hear with your ears; Help us to speak your truth in love; Help us to make time for you… for others… for ourselves. Amen. 3.1.2 Checking of Attendance 3.1.3 Checking of Assignment 3.2 Preparatory Activities 3.2.1 Review Teacher: Class...
Words: 1391 - Pages: 6
...Osmosis Introduction: Tissues are made up of cells that have the same structure and function. In this experiment osmosis will be measured in a piece of tissue. Water potential can be determined by the changes in dimensions of the tissues when it is placed in solutions of different concentrations. Research Question: What is the effect of sucrose solution on potato cells Hypothesis: Osmosis will increase when the solutions are less concentrated with sucrose Variables: Dependant: Osmosis Independent: Length Materials: 12 large test tubes or specimen tubes with bungs, marker pen, potato chip cutter, scalpel, fine forceps, 3 watch glasses or petri dishes, ruler, 6 labeled beakers one containing 50cm^3 of distilled water and other four containing 50cm^3 of 0.2 mol dm^-3, 0.4 mol dm^-3, 0.6 mol dm^-3 and 0.8 mol dm^-3. Method: 1- Using the potato chip cutter, cut 24 chips from the potato. Cut the chips into 5cm lengths using the scalpel. Be as accurate as possible. Place 4 chips into each of six, labeled test tubes, one test tube for each of the different sucrose solutions. Pour in enough of each respective solution to cover the potato tissue. Put a bung in each one of the test tubes and label this series “potato”. 2- Repeat the method using the apple fruit or turnip root, putting four chips of tissue 5cm long into each of the second series of test tubes. Label these tubes “apple” or “turnip”. 3- Leave the tubes for at least an hour 4- After at least...
Words: 604 - Pages: 3
...FUNDAMENTALS OF SURFACE MODES: ¥ COLLOIDS ¥ means ÒglueÓ in Greek ¥ was coined in 1861 by Thomas Graham. ¥ ¥ ¥ ¥ ¥ WHAT IS A COLLOID? usually consists of two phases; one continuous phase in which the other phase is dispersed. Size of particles: larger than the size of molecules and small enough for the dispersed phase to stay suspended for a longer period of time. ¥ No strict boundaries for the size limits. OFFICIAL DEFINITION ¥ In 1903 Wolfgang Ostwald formulated the official definition of a colloid: ¥ a system containing entities having at least one length scale in between 1nm and 1µm. ¥ For smaller particles there is no distinct boundaries between the phases and the system is considered a solution; ¥ for larger entities the particles will fall to the bottom due to the gravitational force, and the phases are separated. 1 2 3 MESOSCOPIC PHYSICS ¥ The particle size is in the so-called mesoscopic range in between the macroscopic and microscopic limits. LARGE INTERFACIAL AREA ¥ One very important quality of the colloids is the large interfacial area between the dispersed and the continuous phases. WHAT EFFECTS HAS THIS? ¥ This means that interface effects and hence the electromagnetic surface modes, are very important for the properties of the colloids. ¥ It costs energy to create this much surface and the particles would clump together if this isnÕt prevented. ¥ Usually the particles are charged and hence repel each other. 5 6 4 Four states...
Words: 2895 - Pages: 12
...encouraged to ask question/s that is related to this module and that you don’t know the answer to and want it to be answered. The question/s can be answered by anyone in class. The instructor will allow sometime for other students to answer the question/s before contributing. You can post your questions in MODULE 2 forum under the Discussion Forums. Complete Assignment #2. The assignments are posted in the ASSIGNMENTS area of the website. Even though the homework assignments are not to be turned in and graded, you are strongly encouraged to do them to understand the material and to prepare for quizzes and tests. A complete solution to this assignment will be posted on the course website under ASSIGNMENTS on Thursday (Sept 4th). You are encouraged to review the solutions and compare your work to the solution, ensuring that you understand the reasons the solutions appear as they do. You are also encouraged...
Words: 485 - Pages: 2
... * Has no secretary The most important problem would be catching the flight for the meeting in Chicago since it’s an emergency and work related. Solutions: Getting work done for the day on the air plane on the way to the meeting. Call the secretary to find out at least some of the info for the meeting. Item#2 Problems: * Internal politicking in the company * Finding someone to replace F.T. Dickenson * Dealing with eliminating his overtime hours The two most important problems would the politicking, because someone else may feel the same way and decide to leave the company too. Also, finding someone to replace him and do his unfinished work in such a short period of time. Solution: Search for a new employee ASAP. Item#3 Problems: * Workers threatening to walk out over a co-worker * 10 votes to dismiss Foreman Edward George The workers are the most important asset to the company, so their interest should be first. Second, you have to figure out what to do about the votes to dismiss Ed George. Solutions: Talk to Ed George about his problems with his co-workers. Hold a meeting and get even more workers involved in the voting process, the take another vote. Item#4 Problems: * Overloading which can result in interruption of electrical power. * Not being reachable for Southern Power Solution: Contact Southern Power ASAP. See if they could come out and help with the problem. Item#5 Problem: * Balancing your work and his until Wednesday ...
Words: 922 - Pages: 4
...Name Date Class COLLIGATIVE PROPERTIES OF SOLUTIONS Section Review Objectives • Identify the three colligative properties of solutions • Describe why the vapor pressure, freezing point, and boiling point of a solution differ from those properties of the pure solvent. Vocabulary • colligative properties • freezing-point depression • boiling-point elevation Part A Completion Use this completion exercise to check your understanding of the concepts and terms that are introduced in this section. Each blank can be completed with a term, short phrase, or number. In a solution, the effects of a nonvolatile _______ on the properties of the solvent are called _______. They include _______ point and vapor pressure _______, and boiling point _______. In each case, the magnitude of the effect is _______ proportional to the number of solute molecules or ions present in the _______. Colligative properties are a function of the number of solute _______ in solution. For example, one mole of sodium chloride produces _______ as many particles in solution as one mole of sucrose and, thus, will depress the freezing point of water _______ as much. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. Part B True-False Classify each of these statements as always true, AT; sometimes true, ST; or never true, NT. 11. When added to 1000 g of water, 2 moles of a solute will increase the boiling point by...
Words: 483 - Pages: 2
... it increases the water movement out of the plant by a process called transpiration. When there is a shortage of water, the guard cells well get smaller and close the stomata, and the transpiration process will move slower. The osmolarity would be tested with solute concentrations ranging from 0.0 M to 0.6 M. The concentrations increased 0.1 M each time and the solute used was sucrose. The goal of this experiment was to determine which concentration had the least effect on the potato after being incubated. This information helped us estimate the osmolarity of the potato tuber tissue. Our group hypothesis is that the osmolarity of the potato will have the concentration with the 0.1 M solution. This hypothesis is based off the predicted outcome that smaller molarity concentrations will have the least effect on the potato. The more solute added to a solution decreases the concentration of water in most cases (Kosinski). The decrease in water concentration would then lead to a lower weight of the potato tuber once it has finished incubating. Methods & Materials: For experiment A you will need the following items: 1 large potato tuber Forceps petri dish razor blade DI water metric ruler 7 250 mL beakers/ or disposable cups balance that weighs to the nearest 0.01g sucrose...
Words: 1866 - Pages: 8
...The data solute concentration of the egg was found by taking the average percent change in mass for each percent solute concentration used in the lab and putting the data into the graph(Mass vs. Solute Concentration Over 3 Days). According to the data from the class, the solute concentration inside an egg is 25.1%. The egg would be in an isotonic solution at 25.1% solute concentration. This is when the concentration outside the egg is equal with the concentration of water inside the egg. The point of equilibrium is the point at which the trendline crosses the x-axis. At this point, the egg would no longer gain or lose mass. If the concentrations are the same inside and outside the egg, diffusion will not be able to take place. All averages...
Words: 318 - Pages: 2
...Analysis of Carcinus maenas ingestion rates Materials and methods Part 1 - Control experiment Two mussels (mytilus edulis) were opened and the mussels inside cut into 4 pieces, producing 8 pieces of roughly equal size in total. A balance was then tared with a weighing boat placed on it. Each piece of mussel flesh was placed individually and in turn into the weighing boat to be weighed. The pieces were then placed into a plastic bucket half filled with filtered seawater. The weight, time of weighing and time of immersion into the bucket were all noted down for each piece of mussel. The position of each piece of flesh inside the bucket was also taken down so as not to mix them up. One of the eight pieces was left in the bucket for the duration of the experiment until being removed and weighed at the end and was written down as “the last”. Another piece was removed frequently throughout the experiment and was given the name “the one”. The last 6 pieces were each removed once and weighed at regular intervals to provide a range of submersion times. The experiment was run for roughly 20 minutes. The method for removing and weighing the pieces of mussel was kept consistent throughout the experiment. Each piece was removed, blotted clear of any excess water and weighed. If the piece of mussel was “the one”, it was returned to the bucket of seawater, if not, it was kept aside and moist for the crab feeding (Part 2). Once all of the pieces were removed and weighed (multiple times for “the...
Words: 933 - Pages: 4
... The purpose of the experiment was to see how abrasion works and how it affects rocks and minerals with the use of sugar cubes. I measured the mass of all 5 sugar cubes together then placed it in a jar with a lid on and shook it 20 times, as I was shaking the jar my lab partner recorded the mass that was taking with the number of times I shake the jar. After which we drew the shape of the sugar cubes when it was poured out on a paper, then we calculated the percent change. This procedure was repeated 5 times and with each trial the shaking time was increased by 20. After all the calculations was done, we graphed the data. After each trial the size and mass of the sugar cubes reduced, this was due to the pressure put on the jar as we were shaking it. Supposing little pressure was put on the jar, the outcome would have been different and would have shown little abrasion effects on minerals and rock so therefore this made me conclude that, for abrasion to have a greater impact on minerals and rocks the pressure of the water or wind must be strong to push the minerals against each other. Another factor that contributes to how abrasion works could be the amount of space the minerals and rocks have because during the experiment, the sugar cubes pumped into each other and the walls of the jar and since there wasn’t enough space for movement the sugar cubes weathered and reduce in size with the mass decreasing which I believe wouldn’t occur if there were to be enough space for the sugar...
Words: 462 - Pages: 2
