Dr. Murasko ECON5136 ECON5136: MANAGERIAL ECONOMICS HOMEWORK #3 ANSWERS 1. Suppose an amusement park faces demands from two consumers: P1 = 18 – 2Q1 P2 = 14 – 2Q2 P is the price per consumer/attraction and Q is the number of consumers/attractions purchased. Marginal cost is $2 per consumer/attraction. a. Calculate a block pricing scheme that would approximate 1st-degree price discrimination. Finding quantities associated with P = MC: P1 = 18 – 2Q1 = 2 Q1 = 8 P2 = 14 – 2Q2 = 2 Q2 = 6 We now calculate
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The essay‚ "The Lowest Animal" by Mark Twain fairly sarcastic although it still makes the reader really think about what he’s saying. Throughout the essay‚ Twain makes several well thought out ideas about mankind. However those ideas are not all ones that everyone would be proud of or agree with. The overall message of his essay is to explain Twain’s point of view about why humans are the lowest animals. Several times throughout the essay he mentions how humans kill just for the hell of it and waste
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Chapter 2: Literature Review 1. Diana C Beck‚ 1986 ‚ Identifying how conflict handling behavior may influence the outcomes of negotiation‚ Experimental Method‚ The preferred conflict styles of the negotiation pairs would affect the outcomes achieved on the 1) avoiding (unassertive‚ uncooperative)‚ (2) competing (assertive‚ uncooperative)‚ (3) accommodating (unassertive‚ cooperative)‚ (4) collaborating (assertive‚ cooperative)‚ and (5) compromising (intermediate in both assertiveness and cooperativeness)
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4-1 Give some examples of each of the three “occasions for decision” cited by Chester Barnard. Explain in your own words why Barnard thought the third category was most important. 1) Required by superior authority 2) Requested by subordinates 3) Self-initiated The third category is the most important because it gives the executive the opportunity to demonstrate his or her initiative and self motivation. They have the ability to make a difference through decisions that were not required
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Decision making is the process by which members of an organization choose a specific course of action to respond to the opportunities and problems that confront them. Good decisions help an individual‚ group‚ or organization to be effective. Bad decisions hinder effectiveness and result in poor performance and negative attitudes at all organizational levels. Nonprogrammed decision making involves searching for extra information that is needed to make the right choice. Its also decision making in
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University of Phoenix Material Team D Conflict Management Plan Introduction While developing the teams‚ the management group finds that there is currently some internal conflict among two of the employees chosen for this project. David Nguyen has spoken to his current manager twice regarding his feelings that James Deal is intentionally creating problems on the production line‚ which is causing David to miss his quality checks. James insists that he has no idea what David is referring to and
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The four main responses to conflict are exit‚ neglect‚ loyalty‚ and response. Together these responses create a four-dimensional figure to illustrate active‚ constructive‚ destructive‚ and passive approaches humans take to deal with conflict. For the exit response‚ individuals completely withdrawal from certain situations. This withdrawal can be characterized by physical or psychological behavior. For example‚ whenever a conflict arises such as an argument between two individuals‚ he or she may
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Is Compromise the best way to resolve conflict? Today I’ll try to explain you are the compromise the best way to resolve conflict. Of course we should first acquaintance all the definitions for having more knowledge for taking the best decision. Now first let’s take a look at what exactly is the conflict itself! Conflict is a process which begins when one party perceives that another party has negatively affected‚ or is about to negatively affects‚ something the first party cares about. This
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What would I do if I was in George Nash’s position as Vice President of Real Estate at Desperate Air Corporation (a company in dire financial straits)‚ and my pending sale of Florida property potentially had toxic waste buried beneath the surface. I found this to be the least challenging question posed thus far in terms of my own ethical beliefs. In this instance I would proceed with the sale without disclosing the information regarding what I had heard about the toxic waste. Clearly Florida law
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Professional responsibility is acting toward students in a way that is ethical and consistent with one’s role as a professional person. I will explain the professional duties and responsibilities a classroom teacher must discharge in assessment as well as‚ four responsibilities of students in assessment. The professional duties and responsibilities that a classroom teacher must discharge in the assessment process are to inform students of their rights and responsibilities‚ let them be aware of
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