Reference no: EM131273786
1. Suppose you are the manager of a domestic firm that uses an imported product as an input in your production process. Now suppose the domestic government decides to remove a tariff on those imported products. Explain what will happen to your firm's costs. What will happen in the market for the good you produce?
2. Suppose you are the manager of a domestic firm producing a good which is a substitute for an imported good. Further suppose that the domestic government decides to impose a quota on the imported good. Explain what will happen to the demand for the good you produce and what will happen to the price of the good you sell and the amount sold.
3. Just answer the following questions. No explanation necessary.
a. If MP is at its maximum, then what is at its minimum?
b. If AP is at its maximum, then what is at its minimum?
c. If MC is falling then what is MP doing?
d. If MC is greater than AVC, then what will happen to AVC if the firm increases output?
e. As output increases, what happens to total fixed cost?
4. True or False. Explain. "A firm should always build the plant that will allow it to operate at the minimum of LRAC. After all, if it operates there it is taking advantage of the economies of scale in production."
Suppose you're the manager of a perfectly competitive firm and know the following:
Market Price: $5
Current Output Level: 1,000 units
Average Variable Cost at current output level: $3
Marginal Cost at current output level: $5
Total Fixed Cost: $5,000
a. Should the firm continue to produce? Why or why not?
b. Is the firm currently producing the correct output level? Why or why not?
c. Is the firm earning a positive profit? Why or why not?
|
How many observations should time study analyst plan
: How many observations should a time study analyst plan for in an operation that has a standard deviation of 1.4 minutes per piece if the goal is to estimate the mean time per piece to within .2 minute with a confidence of 95.5 percent?
|
|
Describe the four ethical dimensions of leadership styles
: Describe the four ethical dimensions of leadership styles. Provide an example of each. What are the four principles identified by Pastin in all high-ethics companies? Explain.
|
|
Write a memorandum on the issues of case study of crimes
: write a memorandum outlining the issues of this case, including the crimes that the defendants (both Helen and Allen) can reasonably be charged with.
|
|
Focus of the organization on the correct goals
: What should questions/areas should be used to set up a balanced scorecard for a small business. Do you believe a scorecard keeps the focus of the organization on the correct goals? Why or why not. Defend your argument with theory and personal experie..
|
|
Manager of a domestic firm
: 1. Suppose you are the manager of a domestic firm that uses an imported product as an input in your production process. Now suppose the domestic government decides to remove a tariff on those imported products. Explain what will happen to your fir..
|
|
What problems do you believe you would experience and why
: Assume you are the ombudsperson or an ethics officer for a large organization. What problems do you believe you would experience? Why? What contributions do you think you could make in this role? Why?
|
|
Calculate the study specific odds ratios
: Calculate the study specific odds ratios comparing survival for cystectomy with survival for radiotherapy. Then calculate the Mantel-Haenszel pooled odds ratio
|
|
Explain the importance and steps of cost-benefit analysis
: Explain the importance and steps of a cost-benefit analysis in both an uncertain and risk environment. What is the difference between a risk environment and an uncertain environment in decision making?
|
|
Describe the difference between education and training
: Describe the difference between education and training. Discuss whether or not it is to the benefit of the officer, and therefore the department, to have educated employees? Identify and discuss the qualifications you would require for someone to ..
|