The document provides a template for conducting a hazard analysis and risk assessment. It includes tables to record the initial risk assessment with existing countermeasures, the post-control measure risk assessment after additional countermeasures are implemented, and additional control measures. Hazards are rated based on their severity, probability of occurrence, and resulting risk code. The analysis is intended to evaluate risks to personnel, equipment, downtime, the environment, and products.

1. Exposure Interval
Initial Risk Assessment (with existing planned/designed-in
countermeasures)
Hazard Target(s) Severity Probability Risk Code
[check all applicable] [worst credible] [for exposure interval]
[from matrix]
Personnel
Equipment
Downtime
Environment
Product
Post-Control Measure Risk Assessment
Hazard Target(s) Severity Probability Risk Code
[check all applicable] [worst credible] [for exposure interval]
[from matrix]
Personnel

2. Equipment
Downtime
Environment
Product
Additional Control Measures
Code Each Risk Assessment: SEVERITY:
1 – Catastrophic
2 – Critical
3 – Marginal
4 – Negligible
PROBABILITY
(Likelihood of Occurrence):
A – Frequent
B – Probable
C – Occasional
D – Remote
E – Improbable
RISK CODE:
H – High
S – Serious
M – Medium
L – Low
Comments

3. BOS 3651— Unit IV Hazard Analysis/Risk Analysis Project
Student Name _
Type of Hazard Date
Hazard Description
Activity
Student Name: Type of Hazard: Date: Hazard Description:
Exposure Interval: Activity: worst credible: for exposure
interval: from matrix: undefined: undefined_2: undefined_3:
undefined_4: undefined_5: undefined_6: undefined_7:
undefined_8: undefined_9: Additional Control MeasuresRow1:
undefined_10: undefined_11: undefined_12: worst credible_2:
for exposure interval_2: from matrix_2: undefined_13:
undefined_14: undefined_15: undefined_16: undefined_17:
undefined_18: undefined_19: undefined_20: undefined_21:
undefined_22: undefined_23: undefined_24: CommentsRow1:

4. ECO 520 Case Study One: Production and Cost Guidelines and
Rubric
Overview
This course includes two case studies. These exercises are
designed to actively involve you in microeconomic reasoning
and decision making and to help you apply the concepts covered
in the course to complex real-world situations. The case studies
provide practice reading and interpreting both quantitative and
qualitative analysis. You will then use your analysis to make
decisions and predictions. These exercises provide practice
communicating reasoning in a professional manner.
Prompt
Case Study One: Production and Costfocuses on a perfectly
competitive industry. Each competitive firm in this industry has
a Cobb-Douglas production function: . These firms combine
capital and labor to produce output. In task 3-2 you will use
graphs and equations to analyze competitive firm decisions, the
interaction between those decisions, and the competitive market
determination of price.
Skills needed to complete this case study:
1. The ability to enter data, enter formulas, and create charts in
Excel (Note: use the data provided in the Case Study One Data
document.)
1. The ability to use basic algebra
To complete Case Study One, follow the steps below:

5. 1. Use algebra to derive the cost function:
·
To solve for K as a function of q and L. Show your work, and
verify that you have this solution: .
· Write the cost function. Cost is equal to the sum of the
expenditures to purchase capital plus the expenditures to
purchase labor. Each of these expenditures is equal to the price
of the input multiplied by the quantity of the input. Use the
letter r to denote the price of capital and w to denote the price
of labor.
2. Use Excel to create and graph isoquant curves:
· Use column A to store possible values for L. Use the first row
to label the column. Put a zero (use the number 0) in the second
row. Put the formula =a2+5 in the third row. Copy this formula
in rows 4-25.
· Use column B to store the quantity of K that is needed to
combine with each possible value of L to produce 5 units. Use
the equation from Step 1, with q = 5.
· Use column C to store the quantity of K that is needed to
combine with each possible value of L to produce 10 units. Use
the equation from Step 1, with q = 10.
· Use column D to store the quantity of K that is needed to
combine with each possible value of L to produce 15 units. Use
the equation from Step 1, with q = 15.
· Use scatter-plot to graph the isoquants. Print the graph, and
use this graph to complete the following table:
Q
quantity of L that must be combined with K=5000 to produce
each quantity of output (q)
5

6. 10
15
3. Consider the short run situation in which K is fixed at 5000.
Assume r = .05 and w = 40. Open a new Excel worksheet for
cost information. Note the difference between your production
worksheet, in which the first column stored possible values of
L, and this new cost worksheet in which the first column will
store possible values of q. The variable represented in the first
column will be graphed on the horizontal axis of the scatter-
plot. For the isoquant diagram, L is shown on the horizontal
axis. The new cost worksheet will be used to graph cost
functions, with quantity of output on the horizontal axis
· Use column A to store possible values of q from 0 through 20.
· Use column B to store Total Fixed Cost (TFC). Fixed cost in
this example is equal to r*K, with K = 5000.
·
Use column C to store Total Variable Cost (TVC). Variable cost
in this example is equal to w*L. To compute the quantity of L
that must be combined with K=5000 to produce each possible
value of q, remember that the production function is: .
· Use algebra to solve for L as a function of q and K. Because K
is fixed at 5000 for this short run analysis, the resulting
equation will have L on the left-hand-side and the variable q
will be combined with several constants on the right-hand-side.
Substitute this equation for L to generate the TVC values for
column C. Be careful to enclose the entire denominator in
parentheses.

7. · Use column D to store Total Cost (TC) = TFC + TVC.
· Generate AFC in column E by dividing TFC/q
· Generate AVC in column F by dividing TVC/q
· Generate ATC in column G by dividing TC/q
· Generate one estimate of MC in column H by computing the
change in TC as output increases. Leave the first row blank.
Enter a formula into the third row: =d3-d2. Copy this formula
into the remaining columns. This will provide arc elasticity.
·
Generate a second estimate of MC in column I. Point elasticity
is equal to
· Use scatter-plot to graph TC, TFC and TVC.
· Use scatter-plot to generate a second graph to show ATC,
AFC, AVC and the second estimate of MC.
4. Find equilibrium P & Q in the perfectly competitive market.
Demand is represented by the equation: P = 720 - 0.5Q. The
perfectly competitive firms are assumed to be identical. The
quantity supplied by each individual firm is represented by the
firm's MC curve. In order to graph market supply and market
demand, however, we need to focus on market quantity, rather
than individual firm quantity. The market quantity is equal to ;
where q is the individual firm's quantity.
· Solve for the short-run equilibrium market P & Q using
algebra.
· Generate new columns in Excel to represent demand and
supply. This will require some strategic thinking. You will want
to generate a graph with market quantity on the horizontal axis.
That means that you will need to generate a column of numbers
to represent possible values of market quantity.

8. ·
Let column J represent market quantity, .
· Store values for demand in column K. Store values of supply
in column L. The numbers in column L will be equal to the
numbers representing MC in column I. You can simply copy
these numbers into column L. Alternately, you could enter the
formula for MC, recognizing that the firm-level quantity is
equal to the market quantity stored in column J divided by 100.
· Graph demand and supply. Verify that the computed
equilibrium P & Q are consistent with the graph.
5. Complete the following table for a firm that is producing the
profit-maximizing level of output.
Revenue
$$$
Optimal firm q
Short-run equilibrium P
Revenue = q*P
Cost
TFC

9. TVC (incurred by a firm that is producing the optimal Q)
TC = TVC + TFC
Profit
Profit = Revenue - TC
6. Generate a graph to show the optimal quantity that will be
produced by each competitive firm, and the resulting profit.
This graph will include 4 curves to show:
· The short-run equilibrium price (To generate this horizontal
line, use column L to store the values of the equilibrium P.
Because this line is horizontal, all of the numbers stored in this
column are identical.)
· ATC
· AVC
· MC.
Is your graph is consistent with your profit computation?
Explain.
7. Assume that potential entrants will have exactly the same
cost function as the existing firms. Will new firms enter the
market? Why or why not?
8. You work for a firm that produces an input that is used by
these competitive firms. Your marketing vice president has
asked you to provide analysis to support the marketing

10. department's strategic planning committee. They understand that
the industry is not currently in long-run equilibrium, and they
have asked you to help them estimate the output that will be
produced and the number of firms that will exist when the
industry reaches long-run equilibrium. This will require several
steps:
· Draw the pair of graphs that depict long run competitive
equilibrium. Note that two things are true in LR equilibrium:
· P=MC=ATC for individual firm
· S=D in market
· You will need equations that describe these two facts (fill in
the blanks):
· ATC = MC
= _________________________
· D = S
720-0.5Q = 40Q/n; where
· Solve these two equations for q and n.
· To create graphs, complete the following steps:
· Open a new worksheet
· Use column A to store possible values of the market quantity.
Put zero in the second row. Enter the formula =a2+100 in the
third row. Copy this formula into rows 4-20.
· Enter the formula for market demand into the second column
(=720 - 0.5*A2)
· Enter the formula for the initial market supply into the third
column (=40*A2/100); where n=100 is the number of firms in
the initial market.

11. · Enter the formula for the final market supply into the fourth
column (=40*a2/n); where n is the long-run equilibrium number
of firms you computed in the previous step.
· Use scatter-plot to create a graph that shows market demand
and both the initial market supply and the long-run equilibrium
market supply. Verify that the short-run and long-run
equilibrium prices and quantities are consistent with your
algebraic solution values.
· Complete the following table:
Long Run Equilibrium
Output of each individual firm
Industry output
Number of firms
Format: Case Study One must follow these formatting
guidelines: double spacing, 12-point Times New Roman font,
one-inch margins.
Instructor Feedback: Students can find their feedback in the
Grade Center.
Rubric
Critical Elements
Exemplary
Proficient
Needs Improvement
Not Evident
Value

12. Section 1
Uses algebra and the Excel spreadsheet to complete the answer.
Analyzes the cost function using economics vocabulary
(10)
N/A
N/A
No graph and analysis provided
(0)
10
Section 2
Uses Excel to create and graph isoquant curves and scatter-plot
according to directions
(10)
N/A
N/A
No graph and analysis provided
(0)
10
Section 3
Uses a new Excel Worksheet for cost (see Cost Tab) to
complete the directions for a short run situation
(10)
N/A
N/A
No graph and analysis provided

13. (0)
10
Section 4
Represent and graph the firm's MC curve according to
directions
(10)
N/A
N/A
No graph and analysis provided
(0)
10
Section 5
Represent a firm profit-maximizing level of output according to
directions
(10)
N/A
N/A
No table and analysis provided
(0)
10
Section 6
Represent a competitive firm, and the resulting profit according
to directions
(10)
N/A
N/A
No graph and analysis provided

14. (0)
10
Section 7
Submission meets “Proficient” and extends explanation to
include additional reasons for the entry into the market
(18-20)
Uses Excel spreadsheet, algebra to determine costs along with a
discussion using economic vocabulary, variables, and reasoning
to make an argument for (or against) entry into the market
(16-17)
Missing one or more of the factors to completing the assignment
(14-15)
Does not include the majority of the assignment components
(0-13)
20
Section 8
Submission meets “Proficient” and extends explanation to
include additional reasons for the strategic plans for long-run
equilibrium market
(18-20)
Follow the steps in the Case Study One document to create
required graphs, scatter plots and tables to support strategic
plans for long-run equilibrium market

15. (16-17)
Missing one or more of the factors to completing the assignment
(14-15)
Does not include the majority of the assignment components
(0-13)
20
Earned Total
Comments:
100%
market Q
Demand
LR Supply
(Impact on taxes)
0

16. 720
0
100
670
12
200
620
24
300
570
37
400
520
49
500
470
61
600
420
73
700
370
86

17. 800
320
98
900
270
110
1,000
220
122
1,100
170
135
1,200
120
147
1,300
70
159
1,400
20
171
1,500
-30
183
1,600
-80
196

18. 1,700
-130
208
1,800
-180
220
(Market S & D)
market Q
Demand
Supply
Supply
0
720
0
0

19. 100
670
40
12
200
620
80
24
300
570
120
37
400
520

20. 160
49
500
470
200
61
600
420
240
73
700
370
280
86
800
320
320
98
900
270
360
110
1,000
220

21. 400
122
1,100
170
440
135
1,200
120
480
147
1,300
70
520
159
1,400
20
560
171
1,500
-30
600
183
1,600
-80

22. 640
196
1,700
-130
680
208
1,800
-180
720
220
q
TFC
TVC
TC
AFC
AVC
ATC
MC-subt
MC-EQ
0
250
0
250
0
1
250

23. 20
270
250
20
270
20
40
2
250
80
330
125
40
165
60
80
3
250
180
430
83
60
143
100
120
4
250
320
570
63
80
143
140
160
5
250

24. 500
750
50
100
150
180
200
6
250
720
970
42
120
162
220
240
7
250
980
1,230
36
140
176
260
280
8
250
1,280
1,530
31
160
191
300
320
9
250

25. 1,620
1,870
28
180
208
340
360
10
250
2,000
2,250
25
200
225
380
400
11
250
2,420
2,670
23
220
243
420
440
12
250
2,880
3,130
21
240
261
460
480
13
250

26. 3,380
3,630
19
260
279
500
520
14
250
3,920
4,170
18
280
298
540
560
15
250
4,500
4,750
17
300
317
580
600
16
250
5,120
5,370
16
320
336
620
640
17
250

27. 5,780
6,030
15
340
355
660
680
18
250
6,480
6,730
14
360
374
700
720

28. q
AFC
AVC
ATC
MC-EQ
0
0

29. 1
250
20
270
40
2
125
40
165
80
3
83
60
143

30. 120
4
63
80
143
160
5
50
100
150
200

31. 6
42
120
162
240
7
36
140
176
280
8
31
160
191
320

32. 9
28
180
208
360
10
25
200
225
400

33. 11
23
220
243
440
12
21
240
261
480
13
19
260
279
520

34. 14
18
280
298
560
15
17
300
317
600
16
16

35. 320
336
640
17
15
340
355
680
18
14
360
374
720

43. Production
L
Kfor Q=5
Kfor Q=10

44. Kfor Q=15
0
5
12,500
10

45. 6,250
25,000
15
4,167
16,667
20
3,125
12,500
28,125
25

46. 2,500
10,000
22,500
30
2,083
8,333
18,750
35
1,786
7,143
16,071
40

47. 1,563
6,250
14,063
45
1,389
5,556
12,500
50
1,250
5,000
11,250
55

48. 1,136
4,545
10,227
60
1,042
4,167
9,375
65
962
3,846
8,654
70

49. 893
3,571
8,036
75
833
3,333
7,500
80
781
3,125
7,031
85

50. 735
2,941
6,618
90
694
2,778
6,250
95
658
2,632
5,921
100

51. 625
2,500
5,625
105
595
2,381
5,357
110
568
2,273
5,114
115

52. 543
2,174
4,891
AFC 0 1 2 3 4 5 6 7 8 9 10 11
12 13 14 15 16 17 18 250 125
83.333333333333329 62.5 50 41.666666666666664
35.714285714285715 31.25 27.777777777777779
25 22.727272727272727 20.833333333333332
19.23076923076923 17.857142857142858
16.666666666666668 15.625 14.705882352941176
13.888888888888889 AVC 0 1 2 3 4 5

53. 6 7 8 9 10 11 12 13 14 15 16 17
18 20 40 60 80 100 120 140 160 180 200
220 240 260 280 300 320 340 360 ATC 0 1 2
3 4 5 6 7 8 9 10 11 12 13 14
15 16 17 18 270 165 143.33333333333334
142.5 150 161.66666666666666
175.71428571428572 191.25 207.77777777777777
225 242.72727272727272 260.83333333333331
279.23076923076923 297.85714285714283
316.66666666666669 335.625 354.70588235294116
373.88888888888891 MC-EQ 0 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16
17 18 0 40 80 120 160 200 240 280 320
360 400 440 480 520 560 600 640 680 720
0 5 10 15 20 25 30 35 40 45 50 55 60
65 70 75 80 85 90 95 100 105 110 115
12500 6250 4166.666666666667 3125 2500
2083.3333333333335 1785.7142857142858 1562.5
1388.8888888888887 1250 1136.3636363636363
1041.6666666666667 961.53846153846143
892.85714285714289 833.33333333333326 781.25
735.29411764705878 694.44444444444434
657.89473684210532 625 595.23809523809518
568.18181818181813 543.47826086956525 0 5
10 15 20 25 30 35 40 45 50 55 60 65
70 75 80 85 90 95 100 105 110 115 25000
16666.666666666668 12500 10000
8333.3333333333339 7142.8571428571431 6250
5555.5555555555547 5000 4545.454545454545
4166.666666666667 3846.1538461538 457
3571.4285714285716 3333.333333333333 3125
2941.1764705882351 2777.7777777777774

54. 2631.5789473684213 2500 2380.9523809523807
2272.7272727272725 2173.913043478261 0 5 10
15 20 25 30 35 40 45 50 55 60 65 70
75 80 85 90 95 100 105 110 115 28125
22500 18750 16071.428571428571 14062.5
12499.999999999998 11250 10227.272727272726
9375 8653.8461538461524 8035.7142857142853
7499.9999999999991 7031.25 6617.6470588235288
6249.9999999999991 5921.0526315789475 5625
5357.1428571428569 5113.6363636363631
4891.304347826087
L
q
K
2
2
02
.
0
=
)
5000
(
02
.
0
)
40
(

55. 2
2
q
nq
Q
=
q
Q
100
=
)
5000
(
02
.
0
40
)
5000
(
05
.
0
2
q
q
+
5
.
0
5
.
0
02
.
0

56. L
K
q
=
Unit IV Project
Hazard Analysis and Risk Assessment Project
Be sure to read all of the instructions. There are two documents
to be prepared and submitted.
1. Following steps 1-11 of the Hazard Analysis and Risk
Assessment Guide in the course textbook (pp. 171-174), develop
a risk assessment for a serious workplace hazard with which you
are familiar, or use Addendum D to Chapter 11 (pp. 202-206) to
help you select a hazard. Evaluate the hazard and its associated
risks, and then complete the Hazard Analysis and Risk Analysis
Project form (click here to access this form). To complete the
Initial Risk Assessment and Post Control Risk Assessment
sections, use the following codes based on the Risk Assessment
Matrix in Table 11.10 (p.180) of the textbook:
SEVERITY:
1 – Catastrophic
2 – Critical
3 – Marginal
4 – Negligible
PROBABILITY (Likelihood of Occurrence):
A – Frequent
B – Probable
C – Occasional
D – Remote
E – Improbable
RISK CODE:
H – High
S – Serious
M – Medium
L – Low
All sections of the form must be completed. Note that the “Post

57. Control Risk Assessment Measures” section reflects the risk
assessment AFTER applying the additional control measures.
2. In a separate document of at least 500 words, explain the
reasoning behind how you filled out each section of the form.
Use references as needed to support the discussion. Also need
references.