...PROBLEMS Problem 3.1 Demand and Supply Curves. The following relations describe monthly demand and supply conditions in the metropolitan area for recyclable aluminum QD = 317,500 - 10,000P (Demand) QS = 2,500 + 7,500P, (Supply) where Q is quantity measured in pounds of scrap aluminum and P is price in cents. Complete the following table: Price Quantity Quantity Surplus (+) or Supplied Demanded Shortage (-) (1) (2) (3) (4)= (2)-(3) 15¢ 16 17 18 19 20 SOLUTION Price Quantity Quantity Surplus (+) or Supplied Demanded Shortage (-) (1) (2) (3) (4)= (2)-(3) By putting the values of P in the QD & QS equations: 15¢ 115000 167500 -52500 16 122500 157500 -35000 17 130000 147500 -17500 18 137500 137500 0 19 145000 127500 17500 20 152500 117500 35000 Problem3.2 Demand and Supply Curves. The following relations describe monthly demand and supply relations for dry cleaning services in the metropolitan area: QD = 500,000 - 50,000P (Demand) QS = -100,000 + 100,000P (Supply) Where Q is quantity measured by the number of items dry cleaned per month and P is average price in dollars. A. At what average price level would demand equal zero? B. At what average price level would supply equal zero? C. Calculate the equilibrium price/output combination. SOLUTION A. From the...
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...JONAH ELEKWACHI SU200002162 ECO- 550 MANAGERIAL ECONOMICS AND GLOBALIZATION INSTRUCTOR: PROF DR.AHMED MOHAMED ASSIGNMENT #2. DATE: 03/09/2014. * Briefly describe the details of the fictitious business that you created for this assignment. Urbanaz Inc manufactures aluminum roofing sheets. The company has been in business for over 10 years and during this time have established itself as a high quality manufacturer of roofing sheets, even though this company only appeals to a small fraction of the roofing sheet industry, they had been able to maintain a 22% profit margin. Due to the failing economy which brought about the decline in building, Urbanaz’s profit margin dropped below the break-even point, The Company is also facing a legal suit with the state government which the outcome is unlikely going to favor them. So they are faced with options to either re-strategize the company or shutdown. * Assess the current environmental scan factors that are relevant to the decision making process. Determine the factors that will have the greatest impact on plant operations and management’s decision to continue or discontinue operations. Environmental scanning involves a process of gathering, analyzing, and dispensing information for tactical or strategic purposes. The Company’s macro environment can be expressed in terms of the following factors; Social Technological Economic Political When considering whether or not to continue operations...
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...English 122 Nature vs. Man In the world now there are views of what can or should be done with the environment, use what is available to save any animal/plant/bug for the future. Then there are the options that go between those two extremes. Looking at some of the views from our readings as well as other sources, we’ll see what is looked at as right and wrong ways to use and preserve nature. There are many views on how the Earth should be used or preserved, but the how to do it with the world’s increasing population makes the answer so important to those that will come after us. While not about nature, Aldous Huxley’s “Time and the Machine” talks about time and how man has made himself a slave to time. Knowing that we have a limited amount of time in our lives, many want to do as much to fill that time as can be done. Most in the western world view time as something that needs to be taken advantage of, that there’s always a deadline for creating or making something. In some eastern cultures, there isn’t the hurry seen like we have. They aren’t as concerned for man-made time as they have “not been made conscious of the existence of minutes.” (Huxley, 366) He goes on to say that people living in large cities can live “without being aware of the daily march of the sun across the sky; without ever seeing the moon and stars.” (Huxley, 366) This goes to show that people are too into the passing of time and don’t look at taking time to relax and exist with nature. ...
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...Eco Terrorism Eco-terrorism is the term used to describe the violence in the interests of environmentalists. There have been cases when environmentalists have inflicted damage to the industrial factories, due to the fact that, they cause pollution and other environmental problems. According to Manning (2012), “Eco-terrorism can be defined as the act of violence or sabotage against person and property commits and support animal right activist.” There are some organizations that participate in it, such as, Earth Liberation Front (ELF) and Animal Liberation Front (ALF). These organizations managed to burn down a ski resort and blow up a laboratory among other things. On the other hand, some groups such as the Sea Shepherd Conservation Society are labeled as eco-terrorists although they do not commit such acts of violence against humans- they do not attempt to injure or kill people, but only provoke people through property. This has led to a debate that touches on whether or not to classify these actions as "terrorist" or not. The FBI has given the environmentalists a definition ‘the use or threatened use of violence of a criminal nature against innocent victims or property by an environmentally-oriented, sub national group for environmental-political reasons, or aimed at an audience beyond the target, often of a symbolic nature.’ John Lewis, a top FBI official says, ‘The number one domestic terrorism threat is the eco-terrorism, animal-rights movement.” Eco-Terrorists...
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...Economics for managerial decision making: Market structure Charles Brown Jr ECO/561 October 04, 2010 Frank Kingsland Economics for Managerial Decision Making: Market Structures Basis for the case study Each of the four cycles in this simulation relates specifically to the four market structures — monopoly, oligopoly, imperfect competition, and perfect competition. The learner plays the role of the newly appointed Chief Executive Officer of Quasar. As the CEO, the learner will approve decisions on the pricing of Neutron based on the cost and revenue structures for each market structure that Quasar transitions through. Cycle 1 – 2003 - Monopoly In this cycle, Quasar Computers introduces Neutron, the world's first all-optical portable notebook computer. This cycle is divided into three steps, each of which requires the learner to take a decision that will increase the profits for the firm. Decision points Step 1 - The price at which Neutron should be introduced to the market is ___2550_____? Step 2 - The advertising budget to be allocated and the price for Neutron is ____2,450___? Step 3 - The amount to be invested on internal processes improvements and the price for Neutron is _2200_____? Discussion question In spite of being a price-setter (a company that can set its own price), why would a monopoly player choose to pursue cost reduction and demand stimulation strategies? They would pursue a cost reduction and demand stimulation strategy by...
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...Internship Report on | | A Study of BRAND REPOSITIONING STRATEGIES AND BRAND PERCEPTION OF CITIZEN ECO DRIVE WATCHES By Vivek Kumar 149010108 (BIM BANGALORE) To Bharathidasan Institute of Management Period (March 2009 –30th May 2009) Declaration I hereby declare that that the dissertation titled “A Study of BRAND REPOSITIONING STRATEGIES AND BRAND PERCEPTION OF CITIZEN ECO DRIVE WATCHES” is done for partial fulfillment of internship which is a part of study “under the guidance of Sharon Andrew and I have invested my earnest effort to accomplish the task and it has not been submitted anywhere for any other award. Where ever I had made any references I have furnished the source of information and they have been acknowledged. Vivek Kumar PGDBM BATCH-06 Bharathidasan Institute of Management ...
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...Mercedes Davis English 091 March 11, 2011 An Open Reader Reading is the foundation of our life. Without reading we would be like lost souls in the world. Everywhere we go and anything we do we have to read; at work, school, driving, etc. People who do not know how to read are limited in life, they cant get a job, and the everyday life would be a struggle. Someone who knows how to read has no restrictions, the sky is the limit for them, they are our lawyers, doctors, and teachers. In Moody’s article “The Joy and Enthusiasm of Reading”, he expressed his love for the unpopular selections, and how he learned how to dissect his readings. Moody also states that nobody will ever be able to tell him how to read, and also believes there is no right or wrong way to read. In Moody’s article “The Joy and Enthusiasm of Ready”, he explains his high school and college reading experiences. He tells us how his, Mr. Buxton, taught him how to analyze Shakespeare’s Macbeth. Mr. Buxton did not give him his own interpretation and made sure Moody noticed how Shakespeare repeated somethings to help Moody come to a conclusion. In eleventh grade Moody’s teacher Mr. Flanders encouraged Moody to develop his own relationship with the Gospels, in his religious studies. Then Moody continued onto college where he read Umberto Eco’s Role of the Reader, where he was introduced to Eco’s “Open Text” philosophy. He also read some of the great European and Latin Americans articles. After his...
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...Research or Interview Paper Instructions You can choose 1 of the following two options for your Research or Interview Paper. Your paper will be 7 double-spaced pages for the main content (not including the cover page and reference page). Your choices include: 1. A research paper Steps for writing the research paper: a) Choose a topic in Managerial Economics. b) Submit the topic and the outline of the paper to the instructor anytime for approval. c) A minimum of 3 references besides the textbook are required. Liberty University library has excellent resources for your search for journals. http://www.liberty.edu/index.cfm?PID=178 OR 2. An interview paper Steps for writing the interview paper: a) Choose a topic in Managerial Economics. b) Design at least 5 questions according to the topic. c) Submit your questions to the instructor for approval. d) Contact a local or non-local company for an interview. e) Conduct the interview for answers to your questions. f) The paper must have 3 parts: • The description of the company; • Interview questions and answers; and • Your comments. *The research paper is to be done individually, not as a group. **Do not wait until the last module/week to work on the paper. Do it as early as possible. ***A paper that was written for other classes would not be accepted for...
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...Case Study: Chapter 8 Aaron Lambert Saint Leo MBA 540 Managerial Economics Analyzing Managerial Decisions: Leaving New York for the Farmlands of Illinois While the co-workers may be rightly supportive of the individual’s aspirations, they are likely not qualified to advise him on this matter. The individual claims to have $800,000.00 saved from bonuses at his current place of employment. Based on that information alone, it appears that he is considering walking away from what seems like a fairly secure and profitable situation at his current job and committing to a new and less certain endeavor. With reports implying that demand for corn will soar the farming proposition may seem like a good idea; however, our potential farmer needs to consider other factors. The costs associated with acquiring the land are known and estimated to be $800,000.00, but there are other costs involved that are considerable and quite fixed. He will need to purchase farming equipment and machinery, which will require much more cash upfront in addition to the land. These fixed costs definitely need to be factored into the decision but are omitted in the text. If he has a lot more of that bonus money remaining, he could purchase the machinery outright. If paying cash is not possible he will need to take up a loan, lease, or rent; either option resulting in additional expenses incurred each period. Based on an article published by the University of Illinois in 2014, corn farmers in Illinois...
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...ECO 550 Entire Course Managerial Economics and Globalization Follow Below Link to Download Tutorial https://homeworklance.com/downloads/eco-550-entire-course-managerial-economics-globalization/ For More Information Visit Our Website ( https://homeworklance.com/ ) Email us At: Support@homeworklance.com or lancehomework@gmail.com ECO 550 DQ 1: Managerial Economic Decision Making From the e-Activity, assess how business leaders use managerial economics to make business decisions indicating how profits may be impacted. Analyze the principal-agent problem to determine how the relationship could be less adversarial. ECO 550 DQ 2: Fundamental Economic Concepts Pick a recently released good or service. Then, determine the factors that must be evaluated regarding the product’s supply and demand. Analyze how these factors impact the decision to supply the product indicating the significance of each in the decision-making process. ECO 550 DQ 3 From the e-Activity, explain the most important information you would require on which to base sound economic judgments. Explain your rationale. Assess the various forms of organizing and processing information to determine which is the most difficult to get correct. Explain your rationale ECO 550 DQ 4 Analyze the characteristics that make any transaction possible and justify the importance of each of the characteristics.Evaluate the role institutions play in transactions and discuss the likely economic impact...
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...MID-TERM EXAM - 1st Semester, 2012 |Date |Time |Course Title & Code |Room No. | |29 June, 2012 |11.00 am ~ 12.30 pm |501: Accounting System & Auditing |502 | |(Friday) | | | | |30 June, 2012 |7.00 pm ~ 8.30 pm |502: Managerial Economics |402 | |(Saturday) | | | | |06 July, 2012 |3.00 pm ~ 4.30 pm |503: Business Communication |502 | |(Friday) | | | | |07 July, 2012 |7.00 pm ~ 8.30 pm |504: Advanced Management |502 | |(Saturday) | | | | |13 July, 2012 |3.00 pm ~ 4.30 pm |503: Business Communication...
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...Coach Mike Krzyzewski (Coach K.) and Coach Robert Knight (Coach Knight) were two of the most winning and successful coaches to ever coach basketball. These men are not just known for their record wins, but for their unique leadership. They each had a unique way of leading their teams. Coach Knight was Indiana University’s head basketball coach and became a legend there. Coach K. was the head coach at Duke University since 1980. A fact of interest, both of these two men knew each other in an earlier time. Coach Knight had been Mike Krzyzewski’s basketball coach when he played for the United States Military Academy at West Point. It was there they began to build a relationship of trust and respect that would follow and remain with them throughout both of their careers and beyond, as they were also friends. Each of these men have differing ways in which they lead their teams, but there are leadership styles which they shared when it came to coaching. When taking the model which Robert Katz developed we can see there are skills that did account for their success. Coach Knight held two of the leadership traits that were professed by Katz. Those were technical skills and conceptual skills. He had the ability to know exactly was needed and how to make changes based on each individual situation. According to Katz’s model, Coach Knight did not have human skills. He was known for his roughness (e.g; using high levels of profanity and throwing objects onto the court). He did not have human...
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...tEXECUTIVE SUMMARY The paper identifies different source and causes of different types of conflict in the work place. Analysis of the conflict was done with the aid of Blake and Mouton’s model of conflict management. The paper reflects on a real life observation using brightlands care home. Conflicts observed in the home were analysed and discussed. Manager positions in handling the conflict were also analysed using Blake and Mouton’s conflict management style model. Five conflict management style (competitor, collaborator, compromiser, accommodator and avoider) were used to analysed the conflict were based on the research of Blake and Mouton (1964). Using the conflict scenario, the paper critically discussed various approach towards conflict resolution within and between groups. 1.0 INTRODUCTION Conflict is a normal and natural aspect of life and the working environment hardly do without one form of conflict or the other. Conflict in the workplace is a well known daily phenomenon and it is on the increase. It is worth saying that a conflict free company never existed and will never exist. Tension, cultural differences, aggressions, antagonisms, negative attitude and frustration will usually exists especially wherever men are forced to live and work together. . Burton (1972) said in his book that Conflict, like sex is an essential creative element in human relationships. It is the means to change, the means by which our social values of welfare, security, justice and...
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...Running head: Leadership Styles Leadership Styles Kellie Napper Grand Canyon University LDR 600 Leadership Styles and Development September 18, 2012 Leadership Styles Leaders have many different styles and approaches they take when evolving to becoming a great leader. It takes many years of practice to perfect a craft within certain individuals. Some crafts are more defined than others; never the less these skills are done to win over individuals in work environments and major league football teams. According to Katz (1955) there are three basic administrative needs that should be present for managers to be effective which are conceptual, human, and technical. Coach K’s approach contained both conceptual and human skills. Coach K was able to come up with an approach that was comfortable for both him and the team. He did not want to come with a lot of rules that no one would follow. Growing up Coach K spent a lot of time with his family. As he became an adult his wife and children were very important to him. This is the typed of approach he took with his team. Coach K lacked in my opinion in the technical area. He was not all about a lot of drills and long practices. Coach Knight’s approach contained conceptual and technical skills. Coach Knight had very little room for error. He drilled step by step plays into his players. He believed in practicing long hours and if you could not follow the rules you would be kicked out of practice. Coach Knight taught...
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...1. Main roles of manager is leadership, leading your team, figurehead, people look up to you as a person of authority, liaison, you need to be able to network effectively, monitor, you must be able to monitor your team in both productivity and their wellbeing, spokesperson, you must be able to represent your company, Negotiator, negotiator within your team or department, people development, developing structure, procedures and policies. Hazif’s main role is production manager he is a great team leader and makes sure rules and regulations are met, he monitors his team well with weekly meetings to discuss problems. He has good people development skills giving monthly reviews to his employees on performance helping empower his team. He has introduced job rotation to build employees skills & knowledge. He rewards his team and creates a positive work culture. 2. Meeting Deadlines: Hazif rewards his employees to ensure all orders are completed and delivered in time and targets are met letting us know how Hazif is performing and if he is getting all deliveries out in time. Accidents at work: As part of the quality culture all staff know the importance to health and safety, all accidents should be recorded thus letting us know if Hazif is making sure all employees are sticking to the health and safety guidelines and how he is performing as a manager. 3. The functional or group approach. In 1973 john Adair theorised and developed an action-centred leadership model to...
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