TRENT UNIVERSITY
DEPARTMENT OF ECONOMICS
Econ-Admin 2250H 2015-2016
Assignment #2
Date Given: Beginning of class on October 9, 2015.
Due Date: Beginning of class on November 6, 2015.
As page 3 of your course outline states: “the penalty for
late assignments is 20 percentage points
for each day or part thereof.” To be fair to all students,
the late penalty will be applied to all late
assignments, even if they are late by an hour. You have four
(4) weeks to complete this
assignment.
Notes: Please make sure that your answers are neat and
legible. Also ensure that your assignment is
securely held together and contains your name and student
number. The numbers in the margin
refer to the mark for each part. Please type your answers or
use a pen. Do not use a pencil.
(15) 1. Suppose the advertising decisions of two firms are
inter-related. Firm 1 always spends $2 million plus 33?% of
what firm 2 spends on advertising. And firm 2 always spends
$7 million plus 12.5% of what firm 1 spends on
advertising.
i) Draw the reaction functions for the firms in this problem
(in the same diagram). Be sure to
label each curve and the axes.
ii) Use the inverse matrix method to find the Nash
equilibrium in this problem.
iii) Now use Cramer’s rule to verify your answer in part
ii).
2. Suppose an inflationary economy can be described by the
following equations representing the goods and
money markets:
C = 20 + 0.7Yd
M = 0.4Yd
I = 70 – 0.1r
T = 0.1Y
G = 100
X = 20
Ld = 389 + 0.7Y – 0.6r
Ls = 145
where G represents
government expenditure, M is imports, X is exports, Y is national income, Yd is
disposable income, T
is government taxes (net of transfer payments), I is investment, r is the rate
of
interest, C is
consumption, Ld is money demand, and Ls is money supply.
(15) i) Use the inverse matrix method to solve for the
equilibrium level of national income and the
equilibrium rate of interest in this economy. (Note: ½ of
the marks in this part are given for
the correct set up of the equations. Explain what you are
doing, including how equilibrium
is established in each market.)
(5) ii) Now use Cramer’s rule to find your answer.
3. There are three types of life insurance policies that a
sales representative can sell: term, whole life,
and universal life. The following matrix gives the number of
policies sold by three different
representatives during a recent month:
Whole Universal
Term Life Life
?
?
?
?
?
?
?
?
?
?
34 6 38
24 10 32
30 8 40
representative C
representative B
representative A
Assume representatives A, B, and C earned $4400, $4060, and
$4160, respectively, in
commissions for these sales. The commission earned depends
only on the type of policy sold and
is the same for all representatives.
(10) i) Use the inverse matrix method to find the commission
that is earned for selling a policy of
each type.
(10) ii) Now use Cramer’s rule to find your answer.
(15) 4. You are the distributor for a certain brand of wine.
The manager of a local liquor store has just
called, wanting to know why this week’s order had not come
in. You try to explain that your route
driver called in sick this morning, but the manager demands
the usual order and wants its delivered
within the hour. Unfortunately, you do not know what the usual
order is and you cannot reach the
driver. A quick check of the account shows that during the
months of April, May, and June, this
customer was billed for $456, $474, and $499, respectively.
The following matrix gives the price
per case of each of your three kinds of wine during those
months. Using Cramer’s rule find how
many cases of each kind of wine constitute this store’s
usual order.
Rose Burgundy Rhine
June
May
April
?
?
?
?
?
?
?
?
?
?
25 24 21
20 24 21
20 24 18
(30) 5. Fast Finance offers new and used car loans, and
quick cash loans each at a different monthly interest
rate. The totals for loans of each type made last month at
Fast Finance’s three branch offices are
recorded (in thousands of dollars) in matrix below.
New Used Quick
Car Car Cash
?
?
?
?
?
?
70 80 80
50 60 40
80 60 50
?
?
?
?
?
?
South Branch
Central Branch
North Branch
The interest earned on these loans during the month branch
by branch is as follows. North Branch:
$2,700; Central Branch: $2,200; and South Branch: $3,500.
Determine the monthly interest rate for
each type of loan using both the inverse matrix method and
Cramer’s rule. Now calculate the
annual interest rates this company is charging. Show your
work for all the subparts of this question.
Suppose the government decides to set the price of the good equal to marginal cost and subsidize the firm in order to get the firm to produce enough output to satisfy the market at that price
/in Uncategorized /by Josephhome / study / business / economics / questions and answers / 1. (18 total points) suppose there are Show more home / study / business / economics / questions and answers / 1. (18 total points) suppose there are 8 firms Question 1. (18 total points) Suppose there are 8 firms located equidistantly around a circle whose circumference is equal to 1. There are 400 consumers distributed uniformly around the circle. Each consumer gets utility U = 3.5 from buying a unit of the good from a firm which sells their ideal brand (a firm located at the consumers location). Also the consumers utility decreases by 4 times the distance that the consumer is located from the firm. So a consumer who buys from firm i gets utility given by Ui = 3.5 4xi where xi is the distance from the consumers location to firm is location. The consumers surplus from purchasing a unit of the good from firm i is the difference between their utility from purchasing a unit of the good from firm i and the price that firm i charges. So CS = Ui Pi. Also the consumer has no alternatives so the consumer will buy a unit of the good if maximum surplus gained from purchasing from any firm is greater than 0. a) (6 points) Consider a particular firm denoted Firm 2. Let Firm 1 be the firm located on one side of Firm 2 and let Firm 3 be the firm located on the other side of Firm 2. Suppose Firm 1 charges a price P1 = 2 and Firm 3 charges a price P3 = 2. Write a general expression for Firm 2s demand. b) (4 points) Suppose Firm 2 can produce its good at constant marginal cost MC = 1.5. What price should firm 2 charge if it wants to maximize its profit? c) (4 points) Suppose the firm has no close neighbors so that it acts as a monopolist. Therefore it captures all of the consumers whose surplus is greater than or equal to 0. Write a general expression for the firms demand. d) (4 points) Suppose the monopoly firm can produce its good at constant marginal cost MC = 1.5. What price should it charge if it wants to maximize its profit? 2. (15 total points) Suppose that assuming a firm decides to produce a product it must build a production facility. The fixed cost of this facility is F = 90. Also the firm has constant marginal cost MC = 5. Demand for the product that the firm produces is given by P = 40-5Q. a) (8 points) On a single graph carefully draw the MC curve the demand curve and the ATC curve. Your graph should go up to 8 units of output. Please label your graph carefully. b) (3 points) How much output will this firm produce? Suppose the government decides to set the price of the good equal to marginal cost and subsidize the firm in order to get the firm to produce enough output to satisfy the market at that price. c) (2 points) How much should the subsidy be in order to allow the firm to make exactly zero profit. d) (2 points) How much consumer surplus will consumers get if P = MC? 3. (17 total points) Suppose there are two types of consumers: Type A and Type B. The demands for a monopolists product for each type of consumers are given by: Type A: Q = 90 2P Type B: Q = 60 4P Assume the marginal cost of production is constant and MC = 4 and there are no fixed costs. a) (5 points) Suppose the firm is unable to distinguish between the two types of consumers and therefore cannot engage in price discrimination. Sketch the demand curve facing the firm. Make sure your graph is accurate and carefully labeled. b) (2 points) What price will the monopolist charge? c) (2 points) How much profit will the monopolist make? d) (2 points) If the monopolist is able to charge different prices to each type of consumer what price will she charge to type A consumers? e) (2 points) What is the Price Elasticity of Demand for Type A consumers? f) (2 points) If the monopolist is able to charge different prices to each type of consumer what price will she charge to type B consumers? g) (2 points) What is the Price Elasticity of Demand for Type B consumers? Show less
PLACE THIS ORDER OR A SIMILAR ORDER WITH BEST NURSING TUTORS TODAY AND GET AN AMAZING DISCOUNT
The post Suppose the government decides to set the price of the good equal to marginal cost and subsidize the firm in order to get the firm to produce enough output to satisfy the market at that price appeared first on BEST NURSING TUTORS .
Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount!
Use Discount Code "Newclient" for a 15% Discount!
NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you.
Draw the reaction functions for the firms in this problem
/in Uncategorized /by JosephEcon-Admin 2250H – Suppose the advertising decisions of two firms are inter-related. Firm 1 always spends $2 million
Econ-Admin 2250H – Suppose the advertising decisions of two firms are inter-related. Firm 1 always spends $2 million
Econ-Admin 2250H – Suppose the advertising decisions of two firms are inter-related. Firm 1 always spends $2 million
PLACE THIS ORDER OR A SIMILAR ORDER WITH BEST NURSING TUTORS TODAY AND GET AN AMAZING DISCOUNT
The post Draw the reaction functions for the firms in this problem appeared first on BEST NURSING TUTORS .
Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount!
Use Discount Code "Newclient" for a 15% Discount!
NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you.
Your boss has just come to you with a great idea. He wants
/in Uncategorized /by JosephYour boss has just come to you with a great idea. He wants to develop a three day camping trip that focuses on team building and conflict resolution. Other than that goal he really doesnt provide any details. Based on the ambiguity of the request what do you need to consider when it comes to the selection process and scope management of your new project? Citing credible reference materials including your course textbook(s) is highly recommended when providing your response
PLACE THIS ORDER OR A SIMILAR ORDER WITH BEST NURSING TUTORS TODAY AND GET AN AMAZING DISCOUNT
The post Your boss has just come to you with a great idea. He wants appeared first on BEST NURSING TUTORS .
Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount!
Use Discount Code "Newclient" for a 15% Discount!
NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you.
Do you think ideology should be used to reject federal court nominees or should approval be based solely on experience and qualifications?
/in Uncategorized /by JosephIdeology
During both the Bush and Obama administrations, opposition party members argued that the Supreme Court nominees ideological viewpoints were too extreme for the American ideological points of view. This argument will likely surface as President Obama has pledged to nominate Justice Scalia’s replacement to the Supreme Court. Do you think ideology should be used to reject federal court nominees or should approval be based solely on experience and qualifications? If you believe ideology should be used, what role does the electorate play in determining judicial appointees? If you do not believe ideology should be considered, what factors would determine the qualifications of a federal appointee?
PLACE THIS ORDER OR A SIMILAR ORDER WITH BEST NURSING TUTORS TODAY AND GET AN AMAZING DISCOUNT
The post Do you think ideology should be used to reject federal court nominees or should approval be based solely on experience and qualifications? appeared first on BEST NURSING TUTORS .
Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount!
Use Discount Code "Newclient" for a 15% Discount!
NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you.
Of what benefit does the Stages of Change model offer to the health care manager who wants to encourage efficiency and the highest standards of service?
/in Uncategorized /by JosephStages of Change
Read the article “Stages of Change Model.”
http://www.addictioninfo.org/articles/11/1/Stages-of-Change- Model/Page1.html
Answer the following questions (150 words minimum total for both questions):
Of what benefit does the Stages of Change model offer to the health care manager who wants to encourage efficiency and the highest standards of service?
What lessons can be learned from the Stages of Change in helping employees steer away from inappropriate actions on the job?
PLACE THIS ORDER OR A SIMILAR ORDER WITH BEST NURSING TUTORS TODAY AND GET AN AMAZING DISCOUNT
The post Of what benefit does the Stages of Change model offer to the health care manager who wants to encourage efficiency and the highest standards of service? appeared first on BEST NURSING TUTORS .
Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount!
Use Discount Code "Newclient" for a 15% Discount!
NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you.
Prepare a 700- to 1,050-word paper in which you do the following: •Present a profile of the chosen company. Include the following: ◦Demographics of the employees ◦Health care risk factors or potential areas of high utilization ◦Premiums the company is willing to pay
/in Uncategorized /by JosephPrepare a 700- to 1,050-word paper in which you do the following: •Present a profile of the chosen company. Include the following: ◦Demographics of the employees ◦Health care risk factors or potential areas of high utilization ◦Premiums the company is willing to pay
In the simulation, select either Constructit or E-Editor for analysis to complete your paper.
As a representative of Castor Insurance, your job is to maximize profit and minimize risk for the company.
Prepare a 700- to 1,050-word paper in which you do the following: •Present a profile of the chosen company. Include the following: ◦Demographics of the employees ◦Health care risk factors or potential areas of high utilization ◦Premiums the company is willing to pay
•Based on your analysis of potential utilization, provide the following: ◦At least two reasons why each plan could be selected ◦State which plan to sell to your chosen company
What are the reasons for this decision? 
Why did you decide against the other plans offered?
Click the Assignment Files tab to submit your assignment. The worksheet should be used to prepare your paper. Please do not submit the worksheet as part of this assignment.
References: The paper requires APA formatted references, at least, the UOP Simulation software. Also, please make sure the paper has an introduction, conclusion, and reference page.
PLACE THIS ORDER OR A SIMILAR ORDER WITH BEST NURSING TUTORS TODAY AND GET AN AMAZING DISCOUNT
The post Prepare a 700- to 1,050-word paper in which you do the following: •Present a profile of the chosen company. Include the following: ◦Demographics of the employees ◦Health care risk factors or potential areas of high utilization ◦Premiums the company is willing to pay appeared first on BEST NURSING TUTORS .
Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount!
Use Discount Code "Newclient" for a 15% Discount!
NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you.
Two of the assumptions about preferences are that they are transitive over consumption bundles
/in Uncategorized /by JosephECONOMICS 110/111Assuming that he is rational
ECONOMICS 110/111Assuming that he is rational
ECONOMICS 110/111Assuming that he is rational
PLACE THIS ORDER OR A SIMILAR ORDER WITH BEST NURSING TUTORS TODAY AND GET AN AMAZING DISCOUNT
The post Two of the assumptions about preferences are that they are transitive over consumption bundles appeared first on BEST NURSING TUTORS .
Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount!
Use Discount Code "Newclient" for a 15% Discount!
NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you.
apply the principles of capital budgeting to invest in growth and cash flow improvement opportunities in three phases over 10 simulated years.
/in Uncategorized /by JosephResources:
Harvard Business publishing: Working Capital Simulation:
Managing Growth Assignment
Ch. 1 – 21 ofFundamentals of Corporate Finance
WileyPLUS Assignments
All additional resources from each week
Review the following scenario:
Acting as the CEO of a small company, you will apply the
principles of capital budgeting to invest in growth and cash flow
improvement opportunities in three phases over 10 simulated years.
Each opportunity has a unique financial profile and you must
analyze the effects on working capital. Examples of opportunities
include taking on new customers, capitalizing on supplier
discounts, and reducing inventory.
You must understand how the income statement, balance sheet, and
statement of cash flows are interconnected and be able to analyze
forecasted financial information to consider possible effects of
each opportunity on the firm’s financial position. The company
operates on thin margins with a constrained cash position and
limited available credit. You must optimize use of internal and
external credit as you balance the desire for growth with the need
for maintaining liquidity.
Sign-in to the simulation and review each of the following:
•Welcome Statement •How to Play •Terminology Primer •More
Details (this includes information to help you understand how to
play the simulation)
Write a paper of no more than 1,400 words that analyzes your
decisions during each phase (1-3) and how they influenced each of
the following final outcomes (metrics) of SNC:
•Sales •EBIT •Net Income •Free Cash Flow •Total Firm Value
Address the following in your paper:
•A summary of your decisions and why you made them •How they
affected SNC’s working capital •What general effects are associated
with limited access to financing
Include scholarly references (in addition to your course
textbook and simulation materials) to support your positions.
Format your paper consistent with APA guidelines.
PLACE THIS ORDER OR A SIMILAR ORDER WITH BEST NURSING TUTORS TODAY AND GET AN AMAZING DISCOUNT
The post apply the principles of capital budgeting to invest in growth and cash flow improvement opportunities in three phases over 10 simulated years. appeared first on BEST NURSING TUTORS .
Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount!
Use Discount Code "Newclient" for a 15% Discount!
NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you.
explain how race, social class, religion, age, geographical location, cultural values/norms, and physical appearance influenced your choice of partner.
/in Uncategorized /by JosephQuestion
writing a discussion paragragh about currently romantic relationship, explain how race, social class, religion, age, geographical location, cultural values/norms, and physical appearance influenced your choice of partner. If you are not currently in a romantic relationship, hypothesize about how social class, religion, age, geographical location, cultural values/norms, and physical appearance will influence your choice of partner in the future, or the people you date now
PLACE THIS ORDER OR A SIMILAR ORDER WITH BEST NURSING TUTORS TODAY AND GET AN AMAZING DISCOUNT
The post explain how race, social class, religion, age, geographical location, cultural values/norms, and physical appearance influenced your choice of partner. appeared first on BEST NURSING TUTORS .
Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount!
Use Discount Code "Newclient" for a 15% Discount!
NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you.
Discuss how the depopulation and fractured familial relationships inherent in the slave trade have affected your chosen country.
/in Uncategorized /by Josephhough colonialism may have officially ended, the effects of colonialism are still very much present today. This is true in modern-day Africa.
Review the following resources for additional information on the slave trade in Africa:
Origins of African Slaves: Slave Trade Routes
Lasting Effects of Slavery on Africa
African Countries and Independence Dates
Select 1 of the following countries from which the most slaves originated:
Democratic Republic of the Congo
Ghana
Ivory Coast
Use this template to complete your paper:
For your selected country, identify the former colonial ruling country.
Identify your selected country’s date of independence from the colonial ruling country, and discuss the length of time the slave trade operated there.
Discuss how the depopulation and fractured familial relationships inherent in the slave trade have affected your chosen country. Be sure to support your discussion with relevant examples.
Are these effects still felt today? If so, how? Provide examples.
Based on your review of this information, what conclusions can you draw about the slave trade and its effects on your selected country?
Based on your key findings and conclusions, what recommendations do you have to help improve the conditions in the country now? Make sure your recommendations:
include specific interventions or strategies to address the issues and constraints identified
are feasible (politically and operationally)
are realistic (short- and long-term)
Utilize at least 2 credible sources to support the arguments presented in the paper. Make sure you cite them appropriately within your paper, and list them in APA format on your Reference page.
Your paper should be 4–5 pages in length, not counting the Title page and Reference page. In accordance with APA formatting requirements, your paper should include a Title and Reference page, should be double-spaced, and include a running head and page numbers.
References
Boddy-Evans, A. (2017, September 18). Chronological list of African independence. Retrieved from https://www.thoughtco.com/chronological-list-of-african-independence-4070467
Pruitt, S. (2016, May 3). What part of Africa did most slaves come from? HISTORY. Retrieved from http://www.history.com/news/ask-history/what-part-of-africa-did-most-slaves-come-from
Ross, W. (2007, March 29). Slavery’s long effects on Africa. BBC News. Retrieved from http://news.bbc.co.uk/2/hi/africa/6504141.stm
PLACE THIS ORDER OR A SIMILAR ORDER WITH BEST NURSING TUTORS TODAY AND GET AN AMAZING DISCOUNT
The post Discuss how the depopulation and fractured familial relationships inherent in the slave trade have affected your chosen country. appeared first on BEST NURSING TUTORS .
Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount!
Use Discount Code "Newclient" for a 15% Discount!
NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you.