EXAM 2 SPRING 2022
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OTM 732: Economics for Managers EXAM #2 THURSDSAY, APRIL 7, 2022
Printed Name: __________________________________ RULES: - Your answers on this exam will represent your work and only your work. - You may not use textbooks, materials from class, content online, assistance from others, or any other help on this exam. - You MAY use a calculator for arithmetic calculations. On my honor, I agree to abide by these rules. Signature: ______________________________________ There are 5 questions for a total of 100 points.
1) (25 points) You make delicious cupcakes that you mail to customers across the country. Your cupcakes are so unique and special that you have a great deal of pricing power. Your customers have identical demand curves for your cupcakes, and a representative customer’s demand curve is shown below. (It’s not needed, but the demand curve equation is P=5-0.2Q or Q=25-5P.) Suppose your MC=$1/cupcake, whether you produce lots or just a few cupcakes. To keep things simple, suppose there are no fixed costs, so FC=0. a) (9 points) Acting as a monopolist, show the standard pricing analysis on the graph below that identifies your profit-mamximing price and quantity for your representative customer. Shade areas representing your profit and CS. (PS and profit are the same here since FC=0). b) (8 points) Suppose you offer a quantity discount: first 10 cupcakes at $3 each and any cupcakes over 10 are offered at a discounted price. What discount price will maximize your profit? Show this quantity discount arrangement on your graph and shade areas representing your profit and CS.
c) (8 points) Now you have another idea – to sell only packages of 20 cupcakes. What is your profit-maximing price for a 20-pack of cupcakes? What is the resulting profit? Shade areas below representing your price and profit answers.
2) (10 points) a) (4 points) A “menu” is a list of items for sale and their prices. Use the “menu” concept to explain the difference between second-degree price discrimination and third-degree price discrimination. b) (6 points) Provide a real-life example of second-degree price discrimination and explain why it is second-degree price discrimination. Provide a real-life example of third-degree price discrimination and explain why it is third-degree price discrimination. (Make sure that your explanations line up with your “menu” explanation in part (a).)
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Question 3
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In MLA format, how should the following parenthetical
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appear if the article does not have an author and you do not
use a signal phrase?
O (no author C4)
O (anonymous, C4)
O("Ways to Save" C4)
O (newspaper C4)
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Direction: Explain the PEST ANALYSISPolitical:Economic:Social:Technological:(please do not copy answers on the internet, thank you)
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7
Topic:
Electric vehicles are being promoted by governments and automakers worldwide as a critical innovation for reducing oil consumption and combating climate change.
Can you help me with the introduction, body, and conclusion? maybe 1-3 pages will do. Thanks!
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Introduction
E
O Designed to teach people how to do something or how something works
○ Practicing out loud, and with a live audience, where you attend to your body and
voice
O An organizational format that arranges information in logical categories
◇ Ideas and graphics that you can add to your speech
Speech style that is well-prepared, rehearsed, and delivered in conversational style
O "President Rabbit, president of our Maintown branch, claims the product increased
work productivity by 50 percent."
Describing the order in which things must be done from first. to second, to third.
etc.)
Get the audience's attention, state your central idea. tell them how they'll benefit,
and preview the speech
The objective you want to accomplish in a speech
Designed to encourage people to believe or do something
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1 pts
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BY ORDER OF
3D OF EDUCATION
OHIO VALLEY BA
ESTABLISHED 1872
GALLIPOLIS, OH 45631
Chapter 13 Homework
Mind Tap - Cengage Learn X Login
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CENGAGE MINDTAP
Chapter 13 Homework
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X
In the following table, complete the marginal cost, average variable cost, and average total cost columns.
Quantity
(Vats of juice)
0
(Dollars)
Variable Cost Total Cost Marginal Cost
(Dollars)
(Dollars)
Average Variable Cost
(Dollars)
Average Total Cost
(Dollars)
0
30
8
38
2
18
48
3456
30
60
50
80
80
110
AAAAAA
120
150
A-Z
S
ccess
ccess
On the following graph, use the orange points (square symbol) to plot the marginal-cost curve for Eric's Juice Bar. (Note: Be sure to plot from left to
right and to plot between integers. For example, if the marginal cost of increasing production from 1 vat of…
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MULTIPLE CHOICE
Question 19
Many countries around the world have started making the move from
a command economy to a free market economy in recent years. One
of the biggest challenges for these countries is the transition from
state-owned enterprises to those owned by individuals or organiza-
tions other than the state. What is this transition called?
A
B
C
D
sole proprietorship
business structure
public enterprise
privatization
ó ó ó o ó ó ó ó o o ó ó ó ó ó ŏ čŏ ● ¤ 9 Sanges Saved
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Completed 14 out of 20
Question 4 of 20
Entrepreneurs deserve the profits they earn because they
O have college degrees.
O bear the risks of failure and bankruptcy.
extract rent from fixed inputs.
are visionaries.
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Topic: Marginal Analysis Study Case
Presentation of Data
Clearly and logically presented tables/graphs/diagrams/formulas/definitions, that are labelled correctly, used appropriately, and reflect the data presented in Question prompt
i.e.
Express Data presented in Question prompt
Describe/Define any theory/concepts needed for the analysis
List any formulas that will be needed for the analysis
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cek 3 - Chapter 23
Interactive Book: Mea X
MindTap - Cengage L X
A Homework (Ch 23)
* MindTap - Cengage L x
n/static/nb/ui/evo/index.html?deploymentld%3D5981412232614779684085777463&elSBN=9780357133576&id=1316675399&snapshotld%=2635884&
CENGAGE MINDTAP
Q Searci
Homework (Ch 23)
Consider a simple economy that produces two goods: pens and muffins. The following table shows the prices and quantities of the goods over a three-
year period.
Pens
Muffins
Price
Quantity
Price
Quantity
Year
(Dollars per pen)
(Number of pens)
(Dollars per muffin)
(Number of muffins)
2018
1
150
160
2019
2
135
4
230
2020
110
4
165
Use the information from the preceding table to fill in the following table.
Nominal GDP
Real GDP
(Dollars)
(Base year 2018, dollars)
GDP Dėflator
Year
2018
2019
2020
72%
64°F Sunny
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Recently, Hussein plastics has implemented new production methods and a new quality
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defective.
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a) Process innovation
b) Management innovation
c) Organizational innovation
d) Services innovation
2- If a company has a large variety of processes in the manufacturing and a low volume of jobs then the right type of “Product Process Type” would be…..…
a) Project
b) Jobbing
c) Batch
d) Mass
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a) Process innovation
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d) Sequential model
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Subject:21st century
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Answer completely.
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only typed solution
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part B C
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part C D
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2 How might economic conditions affect business decision (Please cite additional info from previous answers if possible)
3. What social and cultural influences could affect business decisions (Please cite additional info from previous answers if possible)
Limit your answer/s to 3-4 sentences only.
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Note:
-Essay type
-NO PLAGIARISM
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Subject :- Economics
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Discussion - How Does Work Motivation Impact Employees' Investment at
Work and Their Job Engagement?
Requirement:
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Include Introduction, Body, and Conclusion.
Your initial Discussion posting should be at least 150 words in length.
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Read and post brief responses to at least two of your classmates' postings (minimum 75 words).
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Microeconomics
Jon quit his job as a manager at West End Savings bank where he earned $112,000 a year. He cashed in $214,000 in corporate bonds that earned 1.0% interest annually to set up a gym. Jon has decided to buy a store front and set up exercise classes. There are 1400 people who will pay $1200 a year for unlimited classes; $850 from each person goes for instructors, maintenance, equipment, insurance, depreciation etc.
Write the answers to the following questions on the answer sheet. (You must show your work.)
1. List 2 (in numbers) 2 implicit costs that Jon has not included.
2. What is Jon’s pure economic profit (or loss) in numbers?
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help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working
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