Check Your Understanding Week 5 (ANSWERS) o Chapter 9: Problems 3‚ 4‚ and 5 3. Electrical generation study of 56 British firms: a. VC = AVC(Q) VC = 1.24Q + .0033Q2 + .0000029Q3 − .000046Q2Z − .026QZ + .00018QZ2 b. MC = 1.24 + .0066Q + .0000087Q2 − .000092QZ − .026Z + .00018Z2 c. Z = 150(thousand) kilowatts SRAVC = 1.24 + .0033Q + .0000029Q2 − .000046Q(150) − .026(150) + .00018(150)2 SRAVC = 1.39 − .0036Q + .0000029Q2 SRMC = 1.24 + .0066Q + .0000087Q2 − .000092Q(150) −
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Strayer University ECO 550 Week 1 Homework Chapter 1 2. A principal-agent relationships involves the owners (principals) delegating decision-making authority to managers (agents). A conflict occurs when the agents pursue acceptable levels of shareholder wealth and profit rather than a maximization of profit. They are pursuing their own self-interests. One way that the agents act in their own self-interests would be by focusing on long-term job security. This could cause the agents to limit
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Check Your Understanding Week 4 Chapter 7: Problems 1‚ 6‚ 8‚ and 9 Chapter 7 Production Economics ___________________________ Solutions to Exercises 1. Deep Creek Mining Company: Complete the table. a. L TPX (=Q) MPX = ΔQ/ΔX APX = Q/X 0 0 --- --- 1 3 3 3.00 2 6 3 3.00 3 16 10 5.33 4 29 13 7.25 5 43 14 8.60 6 55 12 9.17 7 58 3 8.29 8 60 2 7.50 9 59 −1 6.56 10 56 −3 5.60 b. c. Stage I: 0 − 6
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Each problem/question is worth 3 points. Please label your answers with the correct chapter and problem in the submission area. • Chapter 1: Exercises 2‚ 3‚ and 6 • Chapter 2: Exercises 1‚ 5‚ and 6 Chapter 1: Exercises 2‚ 3‚ and 6 2.Shareholders want high long-term profits. Managers want job security and wonderful perks and amenities. Since risk and return tend to be positively related‚ managers may wish to avoid risks that shareholders want the managers to undertake. To encourage managers
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Chapter 5: Problems 1‚ 5‚ 6‚ and 9 1) A)$66‚000 B) S will then become $754.29 C) We can find K by using the regression line method and time series data or cross sectional data. D) The potential weakness for this model is variable t because it is unknown. 5) 2000 | 800 | x x x x 2001 925 x x 800 800 2002 900 x x 913 838 2003 1025 x 875 901 857 2004 1150 x 950 1013 907 2005 1160 960 1025 1136 980 2006 1200 1032 1112 1158 1034 2007 1150 1087 1170 1196 1084 2008 1270
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ECO 550 WEEK 6 CHAPTER 11 AND CHAPTER 12 PROBLEMS download here Chapter 11 2. Ajax Cleaning Products is a medium-sized firm operating in an industry dominated by one large firm Tile King. Ajax produces a multi-headed tunnel wall scrubber that is similar to a model produced by Tile King. Ajax decides to charge the same price as Tile King to avoid the possibility of a price war. The price charged by Tile King is $20‚000. Ajax has the following short-run cost curve: ‚000 - 5‚000Q + 100Q2. A. Computer
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ECO 550 Week 5 Problems Chapter 9 and 10 Chapter 9 3. A study of the costs of electricity generation for a sample of 56 British firms in 1946–1947 yielded the following long-run cost function:16 AVC = 1.24 + .0033Q + .0000029Q2 − .000046QZ − .026Z + .00018Z2 where AVC = average variable cost (i.e.‚ working costs of generation)‚ measured in pence per kilowatt-hour (kWh). (A pence was a British monetary unit equal‚ at that time‚ to 2 cents U.S.) Q = output; measured in millions of kWh per
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Operations Decisions [Type the document subtitle] Dr. Castorina Eco 550 There are a lot of frozen food and low calorie microwavable food options available in the market. A few years ago people were not able to purchase the microwavable food but with the increase in income‚ people can now afford an easier lifestyle and can change the way they cook breakfast‚ lunch‚ and dinner. Because microwavable foods are easy to cook‚ people are replacing traditional cooking methods to microwavable foods
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ECO 365 Week 5 Knowledge Check By www.StudentWhiz. com Copyright. All Rights Reserved by www.StudentWhiz.com ECO 365 Week 5 Knowledge Check Questions to ECO 365 Week 5 Knowledge Check are as follow: 1. 1 What problem do economists see with free trade areas such as NAFTA and the European Union? 2. They tend to lead to free trade rather than fair trade. 3. They can lead to regional trading blocs then restrict trade. Copyright. All Rights Reserved by 4. They lead to globalization. www.StudentWhiz
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Chapter 7 & 8 Chapter 7: Problems 1‚ 6‚ 8‚ and 9 1. In the Deep Creek Mining Company example described in this chapter (Table 7.1)‚ suppose again that labor is the variable input and capital is the fixed input. Specifically‚ assume that the firm owns a piece of equipment having a 500-bhp rating. a. Complete the following table: Labor Input I (No. of Workers) Total Product Marginal Product Average Product 1 3 0 + 3 = +3 3/1 = 3 2 6 6 – 3 = +3 6/2 = 3 3 16 16 – 6 = +10 16/3
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