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For more course tutorials visit www.tutorialrank.com Chapter 9—Applications of Cost Theory MULTIPLE CHOICE 1. Evidence from empirical studies of short-run cost-output relationships lends support to the: 2. The short-run cost function is: 3. Theoretically, in a long-run cost function: – PowerPoint PPT presentation

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Title: ECO 550 course Marvelous Learning/tutorialrank.com


1
ECO 203 course Marvelous Learning/
tutorialrank.com
The Best way to predict the Future is to create
it.....To Best way....
www.tutorialrank.com
2
ECO 550 course Marvelous Learning/
tutorialrank.com
  • ECO 550 Final Guide (All Possible Questions)
  • For more course tutorials visit
  • www.tutorialrank.com
  • Chapter 9Applications of Cost Theory
  • MULTIPLE CHOICE
  • 1. Evidence from empirical studies of short-run
    cost-output relationships lends support to the
  • 2. The short-run cost function is
  • 3. Theoretically, in a long-run cost function
  • 4. Break-even analysis usually assumes all of
    the following except

3
ECO 550 course Marvelous Learning/
tutorialrank.com
  • ECO 550 Midterm Part 1
  • For more course tutorials visit
  • www.tutorialrank.com
  • Question 1
  • Possible goals of Not-For-Profit (NFP)
    enterprises include all of the following EXCEPT
  • Question 2
  • In the shareholder wealth maximization model, the
    value of a firm's stock is equal to the present
  • value of all expected future ____ discounted at
    the stockholders' required rate of return.
  • Question 3

4
ECO 550 course Marvelous Learning/
tutorialrank.com
  • ECO 550 Midterm Part 1 and 2 (All Possible
    Questions)
  • For more course tutorials visit
  • www.tutorialrank.com
  • Chapter 1Introduction and Goals of the Firm
  • MULTIPLE CHOICE
  • 1. The form of economics most relevant to
    managerial decision-making within the firm is
  • 2. If one defines incremental cost as the change
    in total cost resulting from a decision, and
    incremental revenue as the change in total
    revenue resulting from a decision, any business
    decision is profitable if

5
ECO 550 course Marvelous Learning/
tutorialrank.com
  • ECO 550 Midterm Part 2
  • For more course tutorials visit
  • www.tutorialrank.com
  • Question 1
  • The forecasting technique which attempts to
    forecast short-run changes and makes use of
    economic
  • indicators known as leading, coincident or
    lagging indicators is known as
  • Question 2
  • Consumer expenditure plans is an example of a
    forecasting method. Which of the general
    categories
  • best described this example?

6
ECO 550 course Marvelous Learning/
tutorialrank.com
  • ECO 550 Week 1 DQ 1 Fundamental Economic Concepts
  • For more course tutorials visit
  • www.tutorialrank.com
  • "Fundamental Economic Concepts" Please respond to
    the following
  • Answer the following DQs based on the Katrinas
    Candies scenario
  • From the scenario for Katrinas Candies, examine
    the key factors affecting the demand for and the
    supply of a good in general and Katrinas Candies
    specifically. Distinguish between a change in
    demand and a change in the quantity demanded
    (movement along the demand curve).

7
ECO 550 course Marvelous Learning/
tutorialrank.com
  • ECO 550 Week 1 DQ 2 Supply and Demand
  • For more course tutorials visit
  • www.tutorialrank.com
  • From the e-Activity, examine the key factors that
    influence the supply and demand of the selected
    good in general and Katrinas Candies
    specifically.
  • Propose two (2) methods in which organizations
    that provide the good may utilize this
    information. Provide a rationale for your
    response.

8
ECO 550 course Marvelous Learning/
tutorialrank.com
  • ECO 550 Week 1-11 All DQs
  • For more course tutorials visit
  • www.tutorialrank.com
  • ECO 550 Week 1 DQ 1 Fundamental Economic Concepts
  • ECO 550 Week 1 DQ 2 Supply and Demand
  • ECO 550 Week 2 DQ 1 Estimating Demand
  • ECO 550 Week 2 DQ 2 Estimating Elasticity of
    Demand
  • ECO 550 Week 3 DQ 1 Managing in the Global
    Economy
  • ECO 550 Week 3 DQ 2 Outsourcing Offshore

9
ECO 550 course Marvelous Learning/
tutorialrank.com
  • ECO 550 Week 2 DQ 1 Estimating Demand
  • For more course tutorials visit
  • www.tutorialrank.com
  • Estimating Demand" Please respond to the
    following
  • From the scenario for Katrinas Candies, examine
    the procedure Herb will use to estimate the
    demand model developed in the scenario for Week
    1.
  • Determine the meaning, relevance, and importance
    for a manager interpreting the regression results.

10
ECO 550 course Marvelous Learning/
tutorialrank.com
  • ECO 550 Week 2 DQ 2 Estimating Elasticity of
    Demand
  • For more course tutorials visit
  • www.tutorialrank.com
  • From the e-Activity, analyze the elasticity of
    demand for products within the selected industry
    relevant to Katrinas Candies.
  • Determine the factors involved in making
    decisions about pricing these products that you
    believe to be the most influential.
  • Provide a rationale for your response.

11
ECO 550 course Marvelous Learning/
tutorialrank.com
  • ECO 550 Week 3 Assignment 1 Demand Estimation (2
    Sets)
  • For more course tutorials visit
  • www.tutorialrank.com
  • Option 1 Demand equation
  • QD - 5200 - 42P 20PX 5.2I .20A .25M
  • (2.002) (17.5) (6.2) (2.5) (0.09) (0.21)
  • R2 0.55 n 26 F 4.88

12
ECO 550 course Marvelous Learning/
tutorialrank.com
  • ECO 550 Week 3 DQ 1 Managing in the Global
    Economy
  • For more course tutorials visit
  • www.tutorialrank.com
  • Managing in the Global Economy" Please respond to
    the following
  • Answer the following DQs based on the
    Katrinas Candies scenario
  • o From the scenario for Katrinas Candies,
    assuming the absence of quantitative data,
    determine the qualitative forecasting techniques
    that could be used within this scenario.

13
ECO 550 course Marvelous Learning/
tutorialrank.com
  • ECO 550 Week 3 DQ 2 Outsourcing Offshore
  • For more course tutorials visit
  • www.tutorialrank.com
  • "Outsourcing Offshore" Please respond to the
    following
  • Answer the following DQs on the decision
    to outsource offshore
  • o Aside from maximizing profits, list the key
    factors that managers should consider when
    deciding whether or not to outsource offshore.
  • Determine the key factors that you believe to be
    the most influential. Provide a rationale for
    your response.

14
ECO 550 course Marvelous Learning/
tutorialrank.com
  • ECO 550 Week 4 DQ 1 Production Economics
  • For more course tutorials visit
  • www.tutorialrank.com
  • ECO 550 Week 4 DQ 1
  • "Production Economics" Please respond to the
    following
  • From the scenario for Katrinas
    Candies, determine the relevant costs for the
    expansion decision, and distinguish between the
    short run and the long run costs. Recommend the
    key decision-making criteria that Katrinas
    Candies should use for expansion decisions in the
    short run and in the long run. Provide rationale
    for your response.

15
ECO 550 course Marvelous Learning/
tutorialrank.com
  • ECO 550 Week 4 DQ 2 Production Decisions
  • For more course tutorials visit
  • www.tutorialrank.com
  • ECO 550 Week 4 DQ 2
  • "Production Decisions" Please respond to the
    following
  • From the e-Activity, recommend whether
    the company in question should or should not
    continue to produce the good or service. Provide
    a rationale for your response.

16
ECO 550 course Marvelous Learning/
tutorialrank.com
  • ECO 550 Week 5 DQ 1 Applications of Cost Theory
  • For more course tutorials visit
  • www.tutorialrank.com
  • ECO 550 Week 5 DQ 1
  • "Applications of Cost Theory" Please respond to
    the following
  • Answer the following DQs based on the
    Katrinas Candies scenario
  • o From the scenario for Katrinas Candies,
    determine the appropriate type of market
    structure for the situation in question.
  • Cite at least four (4) defining characteristics
    that have helped you reach this decision
    regarding the appropriateness of the chosen
    structure.

17
ECO 550 course Marvelous Learning/
tutorialrank.com
  • ECO 550 Week 5 DQ 2 Cost Management
  • For more course tutorials visit
  • www.tutorialrank.com
  • ECO 550 Week 5 DQ 2
  • "Cost Management" Please respond to the
    following
  • Imagine that you are a manager of a
    chemical company. An accident has occurred in
    which chemicals leaked into the ground water
    nearby.
  • The community is unaware of the accident. Compare
    the primary costs involved in cleaning up the
    water immediately (and thus confessing) versus

18
ECO 550 course Marvelous Learning/
tutorialrank.com
  • ECO 550 Week 6 Assignment 2 Operations Decisions
    (2 Papers)
  • For more course tutorials visit
  • www.tutorialrank.com
  • Using the regression results and the other
    computations from Assignment 1, determine the
    market structure in which the low-calorie food
    company operates.
  • Use the Internet to research two (2) of the
    leading competitors in the low-calorie
    microwavable food industry, and take note of
    their pricing strategies, profitability, and
    their relationships within the industry
    (worldwide).

19
ECO 550 course Marvelous Learning/
tutorialrank.com
  • ECO 550 Week 6 DQ 1 Market Structures
  • For more course tutorials visit
  • www.tutorialrank.com
  • ECO 550 Week 6 Discussion 1
  • "Market Structures" Please respond to the
    following
  • From the scenario, assuming Katrinas
    Candies is operating in the monopolistically
    competitive market structure and faces the
    following weekly demand and short-run cost
    functions

20
ECO 550 course Marvelous Learning/
tutorialrank.com
  • ECO 550 Week 6 DQ 2 Maximizing Revenue
  • For more course tutorials visit
  • www.tutorialrank.com
  • ECO 550 Week 6 Discussion 2
  • "Maximizing Revenue" Please respond to the
    following
  • From the scenario, assuming Katrinas
    Candies is operating in the monopolistically
    competitive market structure and faces the
    following weekly demand and short-run cost
    functions
  • VC 20Q0.006665 Q2 with MC20 0.01333Q and FC
    5,000

21
ECO 550 course Marvelous Learning/
tutorialrank.com
  • ECO 550 Week 7 DQ 1 Predicting Price-Setting
    Strategies
  • For more course tutorials visit
  • www.tutorialrank.com
  • ECO 550 Week 7 Discussion 1
  • "Predicting Price-Setting Strategies" Please
    respond to the following
  • From the scenario for Katrinas
    Candies, determine the importance of predicting
    the pricing strategies of rival firms in an
    industry characterized

22
ECO 550 course Marvelous Learning/
tutorialrank.com
  • ECO 550 Week 7 DQ 2 Price-Setting Strategies
  • For more course tutorials visit
  • www.tutorialrank.com
  • ECO 550 Week 7 Discussion 2
  • "Price-Setting Strategies" Please respond to the
    following
  • Examine the common price setting
    strategies of airlines that use game theory.
    Predict the potential effects of such pricing
    strategies on the demand for seats,
  • and conclude the resulting impact on the
    profitability of the airlines.

23
ECO 550 course Marvelous Learning/
tutorialrank.com
  • ECO 550 Week 8 DQ 1 Entering a Merger
  • For more course tutorials visit
  • www.tutorialrank.com
  • ECO 550 Week 8 Discussion 1
  • "Entering a Merger" Please respond to the
    following
  • From the scenario for Katrinas
    Candies, examine the major implications for firms
    entering into a merger.
  • Explain the criteria the U.S. Department of
    Justice and the Federal Trade Commission would
    follow when deciding on whether or not to approve
    a proposed merger.

24
ECO 550 course Marvelous Learning/
tutorialrank.com
  • ECO 550 Week 8 DQ 2 Organizational Form
  • For more course tutorials visit
  • www.tutorialrank.com
  • ECO 550 Week 8 Discussion 2
  • "Organizational Form" Please respond to the
    following
  • Examine two (2) organizational forms of
    business (e.g., functional, product, etc.).
    Predict the possible implications of the
    principal agent relationship for each

25
ECO 550 course Marvelous Learning/
tutorialrank.com
  • ECO 550 Week 9 Assignment 3 Long Term Investment
    Decision (2 Papers)
  • For more course tutorials visit
  • www.tutorialrank.com
  • Assume that the low-calorie microwavable food
    company from Assignments 1 and 2 wants to expand
    and has to make some long-term capital budgeting
    decisions.
  • Use the Internet and Strayer databases to
    research government policies and regulation.

26
ECO 550 course Marvelous Learning/
tutorialrank.com
  • ECO 550 Week 9 DQ 1 Impact of Government
    Regulation
  • For more course tutorials visit
  • www.tutorialrank.com
  • ECO 550 Week 9 Discussion 1
  • "Impact of Government Regulation" Please respond
    to the following
  • From the scenario for Katrinas
    Candies, take a position as to whether government
    regulation is constraining or enabling in this
    situation,
  • as it relates to the operational efficiency of
    the company. Speculate on the fundamental manner
    in which government regulation could impact the

27
ECO 550 course Marvelous Learning/
tutorialrank.com
  • ECO 550 Week 9 DQ 2 Government Regulation
  • For more course tutorials visit
  • www.tutorialrank.com
  • ECO 550 Week 9 Discussion 2
  • "Government Regulation" Please respond to the
    following
  • From the e-Activity, take a position on
    whether the banking industry needs more or less
    government regulation.

28
ECO 550 course Marvelous Learning/
tutorialrank.com
  • ECO 550 Week 10 DQ 1 Long-Term Investment
  • For more course tutorials visit
  • www.tutorialrank.com
  • ECO 550 Week 10 Discussion 1
  • "Long-Term Investment" Please respond to the
    following
  • From the scenario for Katrinas
    Candies, suggest one (1) method in which Herb
    could use a cost-benefit analysis to argue for or
    against an expansion.
  • Create three (3) optimal decision rules for
    Katrinas Candies (e.g., whether to hire more
    staff or hire temporary workers to meet
    production schedules).

29
ECO 550 course Marvelous Learning/
tutorialrank.com
  • ECO 550 Week 10 DQ 2 Cost-Benefit Analysis
  • For more course tutorials visit
  • www.tutorialrank.com
  • ECO 550 Week 10 Discussion 2
  • "Cost-Benefit Analysis" Please respond to the
    following
  • Assess both the short-term and the
    long-term costs and benefits of obtaining a
    graduate degree. Support your decision to obtain
    a graduate degree
  • with a cost-benefit analysis of your particular
    situation.

30
ECO 550 course Marvelous Learning/
tutorialrank.com
  • ECO 550 Week 11 DQ 1 Transfer It
  • For more course tutorials visit
  • www.tutorialrank.com
  • ECO 550 Week 11 Discussion 1
  • "Transfer It" Please respond to the following
  • Propose two (2) applications of the
    knowledge that you have learned in this course to
    your current or a future position. Provide a
    rationale for your response.

31
ECO 550 course Marvelous Learning/
tutorialrank.com
  • ECO 550 Week 11 DQ 2 Best Practices
  • For more course tutorials visit
  • www.tutorialrank.com
  • ECO 550 Week 11 Discussion 2
  • "Best Practices" Please respond to the following
  • Create a list of three (3) best
    practices to follow in the field of managerial
    economics and globalization. Provide a rationale
    for your response.

32
ECO 550 course Marvelous Learning/
tutorialrank.com
The Best way to predict the Future is to create
it.....To Best way....
www.tutorialrank.com
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