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For more course tutorials visitwww.uophelp.comChapter 9—Applications of Cost TheoryMULTIPLE CHOICE1. 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:5. What is another term meaning the degree of operating leverage?6. In a study of banking by asset size over time, we can find which asset sizes are tending to become more prominent. The size that is becoming more predominant is presumed to be least cost. This is called:7. George Webb Restaurant collects on the average $5 per customer at its breakfast & lunch diner. Its variable cost per customer averages $3, and its annual fixed cost is $40,000. If George Webb wants to make a profit of $20,000 per year at the diner, it will have to serve__________ customers per year.8. In determining the shape of the cost-output relationship only ____ depreciation is relevant.9. Which of the following is not a limitation of the survivor technique for measuring the optimum size of firms within an industry?10. The primary disadvantage of engineering methods for measuring cost functions is that they deal with the managerial and entrepreneurial aspects of the production process or plant.

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Eco 550 seek your dream uophelp com

ECO 550 Seek Your Dream/Uophelp.com

For more course tutorials visit

www.uophelp.com


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ECO 550 Seek Your Dream/Uophelp.com

ECO 550 Final Guide (All Possible Questions)

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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:

4. Break-even analysis usually assumes all of the following except:

5. What is another term meaning the degree of operating leverage?

6. In a study of banking by asset size over time, we can find which asset sizes are tending to become more prominent.  The size that is becoming more predominant is presumed to be least cost. 


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ECO 550 Seek Your Dream/Uophelp.com

ECO 550 Midterm Part 1 and 2 (All Possible Questions)

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Chapter 1—Introduction 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:

3. 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.

4. Which of the following statements concerning the shareholder wealth maximization model is (are) true?

5. According to the profit-maximization goal, the firm should attempt to maximize short-run profits since there is too much uncertainty associated with long-run profits.

6. According to the innovation theory of profit, above-normal profits are necessary to compensate the owners of the firm for the risk they assume when making their investments.


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ECO 550 Seek Your Dream/Uophelp.com

ECO 550 Midterm Part 1

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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.


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ECO 550 Midterm Part 2

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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?

Question 3 

Which of the following barometric indicators would be the most helpful for forecasting future sales 

for an industry?


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ECO 550 Week 1 DQ 1 Fundamental Economic Concepts

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"Fundamental Economic Concepts" Please respond to the followingAnswer the following DQs based on the Katrina’s Candies scenario:From the scenario for Katrina’s Candies, examine the key factors affecting the demand for and the supply of a good in general and Katrina’s Candies specifically. Distinguish between a change in demand and a change in the quantity demanded (movement along the demand curve).From the above, indicate the factors that are responsible for a shift in demand; and explain how the change is effected by these factors.Indicate the factors that are responsible for a shift in supply; and explain how the change is affected by these factors.


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ECO 550 Week 1 DQ 2 Supply and Demand

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From the e-Activity, examine the key factors that influence the supply and demand of the selected good in general and Katrina’s Candies specifically. 

Propose two (2) methods in which organizations that provide the good may utilize this information.


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ECO 550 Week 1-11 All DQs

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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


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ECO 550 Week 2 DQ 1 Estimating Demand

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"Estimating Demand" Please respond to the following:

From the scenario for Katrina’s 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.


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ECO 550 Week 2 DQ 2 Estimating Elasticity of Demand

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From the e-Activity, analyze the elasticity of demand for products within the selected industry relevant to Katrina’s 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.


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ECO 550 Week 3 Assignment 1 Demand Estimation (2 Sets)

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This Tutorial contains 2 Sets

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

Independent variables:

Q = Quantity demanded of 3-pack units

P (in cents) = Price of the product = 500 cents per 3-pack unit

PX (in cents) = Price of leading competitor’s product = 600 cents per 3-pack unit

I (in dollars) = Per capita income of the standard metropolitan statistical area

(SMSA) in which the supermarkets are located = $5,500

A (in dollars) = Monthly advertising expenditures = $10,000

M = Number of microwave ovens sold in the SMSA in which the supermarkets are located = 5,000


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ECO 550 Week 3 DQ 1 Managing in the Global Economy

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"Managing in the Global Economy" Please respond to the following:

·        *Answer the following DQs based on the Katrina’s Candies scenario:

o   From the scenario for Katrina’s Candies, assuming the absence of quantitative data, determine the qualitative forecasting techniques that could be used within this scenario.

o   Now, assume you have acquired some time series data that would enable you to make short, medium, and long term forecasts.


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ECO 550 Week 3 DQ 2 Outsourcing Offshore

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"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.

o   Examine the manner in which the firm’s decision to outsource offshore is impacted by foreign exchange. 


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ECO 550 Seek Your Dream/Uophelp.com

ECO 550 Week 4 DQ 1 Production Economics

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ECO 550 Week 4 DQ 1

"Production Economics" Please respond to the following:

·        * From the scenario for Katrina’s 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 Katrina’s Candies should use for expansion decisions in the short run and in the long run. 


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ECO 550 Week 4 DQ 2 Production Decisions

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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.


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ECO 550 Week 5 DQ 1 Applications of Cost Theory

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ECO 550 Week 5 DQ 1

"Applications of Cost Theory" Please respond to the following:

·        * Answer the following DQs based on the Katrina’s Candies scenario:

o   From the scenario for Katrina’s 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.

o   Recommend two (2) kinds of pricing and output strategies that Katrina’s Candies should use to reach the goal of profit maximization. Suggest key modifications that Katrina’s Candies should make in order to maintain a competitive advantage when new entrants enter the market. Provide a rationale for your suggestions.


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ECO 550 Week 5 DQ 2 Cost Management

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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 

hiding your culpability now and possibly paying more in the future. Predict the impact on profitability in both situations. 


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ECO 550 Week 6 Assignment 2 Operations Decisions (2 Papers)

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This Tutorial contains 2 Different Papers

Using the regression results and the other computations from Assignment 1, determine the market structure in which the low-calorie food company operatesUse 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)Write a six to eight (6-8) page paper in which you1.Outline a plan that will assess the effectiveness of the market structure for the company’s  operations.2.Suppose the business operations have now changed from the market structure specified in the scenario.  Determine two (2) likely factors that might have caused the change. Predict the primary manner in 

which this change would likely impact business operations in the new market environment.3.Analyze the major short-run and long-run production and cost functions for the low-calorie microwaveable food company. Suggest substantive ways in which the low-calorie food company may use this information in order to make decisions in both the short-run and the long-run.


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ECO 550 Week 6 DQ 1 Market Structures

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ECO 550 Week 6 Discussion 1

"Market Structures" Please respond to the following:

·        * From the scenario, assuming Katrina’s Candies is operating in the monopolistically competitive market structure and faces the following weekly demand and short-run cost functions:

VC = 20Q+0.006665 Q2 with MC=20 + 0.01333Q and FC = $5,000

P = 50-0.01Q and MR = 50-0.02Q

*Where price is in $ and Q is in kilograms. All answers should be rounded to the nearest whole number.


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ECO 550 Week 6 DQ 2 Maximizing Revenue

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ECO 550 Week 6 Discussion 2

"Maximizing Revenue" Please respond to the following:

·        * From the scenario, assuming Katrina’s Candies is operating in the monopolistically competitive market structure and faces the following weekly 

demand and short-run cost functions:

VC = 20Q+0.006665 Q2 with MC=20 + 0.01333Q and FC = $5,000

P = 50-0.01Q and MR = 50-0.02Q

*Where price is in $ and Q is in kilograms. All answers should be rounded to the nearest whole number.


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ECO 550 Week 7 DQ 1 Predicting Price-Setting Strategies

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ECO 550 Week 7 Discussion 1

"Predicting Price-Setting Strategies" Please respond to the following:

·        * From the scenario for Katrina’s Candies, determine the importance of predicting the pricing strategies of rival firms in an industry 

characterized by mutual interdependence. Provide a rationale for your response.


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ECO 550 Week 7 DQ 2 Price-Setting Strategies

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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.


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ECO 550 Week 8 DQ 1 Entering a Merger

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ECO 550 Week 8 Discussion 1

"Entering a Merger" Please respond to the following:

·        * From the scenario for Katrina’s Candies, examine the major implications for firms entering into a merger. 


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ECO 550 Week 8 DQ 2 Organizational Form

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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 of these organizational forms of business. Determine which of the organization forms would have more of an economic impact on the operations 

of the firm and its ability to maximize profits. Provide a rationale for your response.


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ECO 550 Week 9 Assignment 3 Long Term Investment Decision (2 Papers)

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This Tutorial contains 2 Different Papers

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.


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ECO 550 Week 9 DQ 1 Impact of Government Regulation

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ECO 550 Week 9 Discussion 1

"Impact of Government Regulation" Please respond to the following:

·        * From the scenario for Katrina’s 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 

shareholders’ wealth and profitability.


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ECO 550 Week 9 DQ 2 Government Regulation

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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. 

Support your position with two (2) examples of the impact of regulation.


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ECO 550 Week 10 DQ 1 Long-Term Investment

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ECO 550 Week 10 Discussion 1

"Long-Term Investment" Please respond to the following:

·        * From the scenario for Katrina’s 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 Katrina’s Candies (e.g., whether to hire more staff or hire temporary workers to meet production schedules).


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ECO 550 Week 10 DQ 2 Cost-Benefit Analysis

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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.


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ECO 550 Week 11 DQ 1 Transfer It

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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.


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ECO 550 Week 11 DQ 2 Best Practices

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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.


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