Department of Economics Spring Semester 2010 University of Pacific ECONOMICS 53 Problem Set 6 Due before lecture on April 1 Part 1: Multiple Choice (15 Questions, 1 Point Each) 1. If a monopolist's marginal revenue is $35 a unit and its marginal cost is $25, then A) to maximize profit the firm should decrease output. B) to maximize profit the firm should continue to produce the output it is producing. C) to maximize profit the
Words: 2044 - Pages: 9
60 of which will be in liberal arts. Effective Fall 2009, C.P.A. program registered with the New York State Education Department must offer a curriculum consisting of a minimum of 150 credits hours. Professional credits total is 60, 6 in business economic, 33 in accounting, 3 in one ACC elective to be chosen from ACC 445, 446, or 449, 6 in law, 6 in finance, 6 in quantitative methods for business, and 3 in business writing. All students are admitted to this major on a provisional basis and they must
Words: 298 - Pages: 2
capital levels and stress scenarios for portfolios of residential mortgages. Mortgage Portfolio Analyzer comprises loan-level econometric models for default, prepayment, and severity. These models are integrated through common dependence on local macro-economic factors, which can be either simulated at national, state, and Metropolitan Statistical Area (MSA) levels or input in the form of stress scenarios. This integration produces correlation in behaviors of loans across the portfolio. The simulation incorporates
Words: 3373 - Pages: 14
opportunities, equal treatment and equal entitlements for both, men and women. It is directly linked with human development. The author says that patriarchy thrives on control of women’s sexuality, fertility and labour for male hegemony over economic resources. Economic institutions and policy can exacerbate existing gender inequalities instead of mitigating them. Laws and policies too play a significant role in determining the extent of gender inequality that exists in a society. They can serve to protect
Words: 435 - Pages: 2
Assignment Get quote & make Payment Get Solution Posted Date: 7/10/2012 8:25:50 AM | Location : United States Economic terms a managerial decision assignment, Managerial Economics Describe and answer in economic terms a managerial decision you have knowledge about (for example one that has to be made at your place of employment). Some examples of decisions are: Should a company hire temporary workers or hire new workers to handle increased demand for the company's product?
Words: 507 - Pages: 3
revenue are $131 which is also the price of one unit sold. The maximum profit of $ 299 is reached. I think as soon as you have total economic profit you should sell. The consumers need to get to know the product and like it in order to buy more, thus in this case you should start selling at the 4th unit up to the 9th unit. I am not so sure about the 10th unit. The economic goal is to maximize profit and this happens when the 9th unit is sold. If you are the manager of a perfectly competitive firm
Words: 436 - Pages: 2
Chapter 9 Monopoly As you will recall from intermediate micro, monopoly is the situation where there is a single seller of a good. Because of this, it has the power to set both the price and quantity of the good that will be sold. We begin our study of monopoly by considering the price that the monopolist should charge.1 9.1 Simple Monopoly Pricing The object of the firm is to maximize profit. However, the price that the monopolist charges affects the quantity it sells. The relationship
Words: 10505 - Pages: 43
paper assesses the economic dimensions of the 2030 problem. The first half of the paper reviews the literature and logic that suggest that aging in general, and long-term care services in particular, will represent an overwhelming economic burden on society by 2030. Then, a new analysis of burden is presented to suggest that aggregate resources should not be a major issue for the midcentury economy. Finally, the paper presents four key challenges that represent the real economic burden of long-term
Words: 373 - Pages: 2
ENTREPRENEUR Our economy has developed many views about an entrepreneur. It can be referred to as one of the factors of production or someone who has opened a new venture in an existing industry. Commonly, an entrepreneur is regarded as the owner of a big company or firm. However, such views portray a narrow and restricted activity of an entrepreneur. In the real world, an entrepreneur does much more than just setting up a firm. It plays a vital role in the flourishing of a country. Joseph Schumpeter
Words: 833 - Pages: 4
Activity Based Costing Analysis Critically discuss: a) Why Cambridge Hospital Community Health Network embarked on the ABC study? There are two main reasons why the Cambridge Hospital Community Health Network (the Network) embarked on the Activity Based Costing (ABC) study. Firstly, the Network needed to gain a better understanding of its unit-of-service costs, which had been rising at a rate of 10% per year. In fact it had recently been rated the third-highest cost hospital in the
Words: 347 - Pages: 2
