Calculate the profit or loss for your firm

Assignment Help Managerial Economics

Reference no: EM133929095

Economics for Managers

REQUIRED:
Use the case study provided and Holmes Institute Syllabus to answer the questions contained in this assessment. Penalties may be applied for using any references in this assessment apart from the Holmes Institute Syllabus.

Question 1
"The nation's rice crop losses from the typhoon were bigger than the Agriculture Ministry's forecast of up to 157,000 tons in a worst-case scenario". Answer the questions that follow.

i. Suppose The Philippines produces only rice and machinery. Also, assume that dueto thetyphoon devastation, The Philippines could only produce100,000 tonnes of rice and 50 units of machinery.
a. Assume that machinery production does not change. Draw a production possibility frontier for The Philippines' production of more 157,000 tons of rice.

b. Read the case study carefully. Examine the government effort that enabled The Philippines to recover from typhoon devastation. To answer, indicate the case study page number(s)and paragraph(s)to support your answer.

ii. Use your microeconomics knowledge from Holmes Institute Syllabus and the case study. Examine four (4) non-price determinants of demandthat affected households in The Philippines. To answer, draw at least one (1) demand and supply model graph. Also, indicate the Lecture Week and slide number(s)from Holmes Institute Syllabus as a referenceto support your answer. Also, to answer, indicate the case study page number(s) and paragraph(s) to support your answer.

Question 2
After graduating from Holmes Institute in January 2024, Singh started a beverage processing business whose main productsare golden yellow mango juice and Iniid sweet honey.Assume Singh started the business on his own premises from which he could have earned a rental income of AUD 3,000 per month. Alsoassume, to start the business, John borrowed AUD 50,000 from his bank and paying 5% interest per month. Further, we assume that Singh usesa car donated to him by his uncle, from which he was earning 6,000 per month as Uber driver. The table below represents Singh'sSeptember 2024 business summary. Get expert online assignment help in the USA.

Singh's September 2024 Business Summary

Item   Cost (AID)
Mango Section
1 mango juice truck   45,000.00
5 stainless 500 litre mango Juice cans   25,000.00
Mango juice cooler   15,000.00
Pulp production complete turn- around line system   50,000.00
Bottling Equipment   10,000.00
2 litre mango juice packs (vary according to demand)   35,000.00
InMI sweet natural honey
8 Frame Electric Honey Extractions Stainless Steel   2,000.00
Honey Pall/Bucket 20-1 with Gate/Tap   29.50
Gate Plastic 11/2" Threaded   28.50
Stainless Steel Double Strainer 23cm   32.00
Honeycomb cutter 200gm Stainless Steel   22.00
Honey bottle paddngs (vary according to demand)   1,000.00
Causal support worker (vary according to need)   400.00

Required:
Use the table to answer the following questions.Show your work

a. Calculate the average fixed cost for each section.

b. Calculate the average variable cost for each section.
c. Assume Singh sells mango juice at AUD 2.50 per litre. Also, assume that Singh sellseach Sealed Plastic Storage Jar at AUD 3.00. Calculate Singh's accounting profit and economic profit for the month of September. Get expert online assignment help in the USA.

d. Should Singh close the business? Show your work as a base for your answer.

Question 3
a. "Prospects of new deals with The Philippines pushed up export prices last week from its main supplier Vietnam". Assume only three (3) multinational enterprises were allowed to distribute and sell rice in The Philippines.Examine the market structure characteristics for the firms that dominated the rice market in The Philippines immediately after typhoon Haiyan devastation. Use a graph to support your answer. Indicate the graph Lecture Week andslide number(s).

b. Assume after typhoon Haiyan,rice production rapidly increased. Also, assume that many firms started to sell rice. Further assume, you are one of sellers of rice in The Philippines. Finally, assume that the graph below illustrates your short run cost curves.

Required:

i. Examine the market structure for your business.Support your answer by indicating the Lecture Week, slide page(s) and slide number(s).

ii. Calculate the profit or loss for your firm. Show your work.

Question 4

Assume, the table below is extracted from The Philippines Bureau of Statistics records for 2018and 2019. Use the information in this table to answer the questions that follow.

Item   Base year 2018   2019
   Production   Price per unit   Production   Price per unit
Abate products (Units)   300   2.00   500   3.00
Coconut oil (litres)   750   13.00   850   13.70
Nickel (Skg)   800   14.00   700   15.00
Used cloth (units)   2,000   150.00   6000   200.00
Components used during car manufacturing   10,000   500.00   15,000   1,200.00
Manufactured cloth (Units)   9,000   25.00   12,000   40.00
Beef gifts during cultural festival   1,500   3.00   1,700   5.00
Milk (litres)   6,000   2.00   7,000   2.50
Elephant tasks seized at Ninoir Aquino international Airport   20
500,000.00       25   750,000.00

Required:

a. Calculate The Philippines's base year GDP, nominal GDP, real GDP in 2019 and GDP deflator.Show your work.

b. As an advisor to The Philippines government, examine the difference between base year GDP and real GDP.Show your work.

Question 5
The government of The Philippines embarked on various policies in order to reduce the severity of typhoon Haiyan on the economy. Use the figure below to answer the questions that follow.

Required:
a. Did typhoon Haiyan cause economic expansion or a recession? Explain your answer using the graph above.

b. Suppose, to overcome the economic impact of the typhoon Haiyan, the government of The Philippines adopted a fiscal policy.Examine how fiscal policy enabledThe Philippines to overcome the effects of typhoon Haiyan devastation on the economy. Indicate the Lecture Week and Slide number(s) to support your answer.

Reference no: EM133929095

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