Intro to Micro Economics
TABLE 1
Units of Resource
Total Product (TP)
Average Product (AP)
Marginal Product (MP)
0
0
_____
_____
1
3
_____
_____
2
8
_____
_____
3
15
_____
_____
4
20
_____
_____
5
23
_____
_____
6
20
_____
Questions 1-4 are based on the table 1 above
1. What is Average Product from the 1-6 workers?
a. 0,1,2,3,4,5,6,
b. 1,2,3,4,56,7
c. 3,4,5,5,4.6,3.3
d. 3,8,15,20,23,20
2. What is Marginal Product from the 1-6 workers?
a. 0,3,4,5,5,4.6,3.3
b. 0,1,2,3,4,5,6,
c. 3,8,15,20,23,20
d. 3,5,7,5,3,-3
3. When Marginal product is greater than average product, average product is …
a. Rising
b. Constant
c. Falling
d. Cannot determine
4. When marginal product is less than average product, average product is..
a. Rising
b. Constant
c. Falling
d. Cannot determine
TABLE 2
Output Per Day
TFC
TVC
TC
AFC
AVC
ATC
MC
0
_____
$0
_____
_____
1
_____
110
_____
_____
_____
_____
_____
2
_____
150
_____
_____
_____
_____
_____
3
_____
180
_____
_____
_____
_____
_____
4
_____
220
_____
_____
_____
_____
_____
5
_____
270
_____
_____
_____
_____
_____
6
_____
340
_____
_____
_____
_____
_____
7
_____
440
_____
_____
_____
_____
_____
8
_____
580
_____
_____
_____
_____
Questions 5-12 are based on Table 2
5. At zero output TC=80, then what is TFC at zero output?
a. 80
b. 0
c. 100
d. 110
6. What is ATC for the first worker
a. 80
b. 110
c. 190
d. 0
7. At the 5th unit of production ATC is?
a. 350
b. 70
c. 80
d. 100
8. At the 6th unit of production ATC is?
a. 350
b. 70
c. 80
d. 100
9. When output Increase from 5 to 6, Marginal Cost is?
a. 70
b. 80
c. 100
d. 0
10. When output Increase from 0 to 1, Marginal Cost is?
a. 0
b. 80
c. 110
d. Cannot be determined
11. What is AVC for the last unit produced?
a. 72.5
b. 80
c. 0
d. 82.5
12. What is the most efficient level of production?
a. 1-2 units
b. 2-3 units
c. 3-4 units
d. 5-6 units
13. Implicit Costs:
a. Are utilized by accountants to calculate total expenses
b. Are regarded as costs by accountants and by economists
c. Plus explicit costs are equal to economic costs
d. Are an expenditure cost
14. Cash expenditures a firm makes to pay for resources are called:
a. Implicit costs
b. Explicit costs
c. Normal profit
d. Opportunity costs
15. Suppose that you could either prepare your own tax return in 15 hours, or hire a tax specialist to prepare it for you in 2 hours. You value your time at $11.00 an hour; the tax specialist will charge you $55 an hour. The opportunity cost of preparing your own tax return is:
a. $40
b. $55
c. $22
d. $165
16. Marginal product of labor refers to the
a. Last unit of output produced by labor at the end of each period
b. Increase in output resulting from employing one more unit of labor
c. Total output divided by the number of labor employed
d. Smallest unit of the output produced by labor
17. According to the law of diminishing marginal returns:
a. Output w.
This document provides the full text of the final exam for ECO 550 from Strayer University. It includes multiple choice and problem questions covering chapters 9 through 17 on topics like cost theory, pricing strategy under perfect competition and monopolistic competition, and break-even analysis. The document provides a link to purchase an instant download of the exam solutions.
This document provides the full text of the ECO 550 Week 10 Chapter 9 through 17 Final Exam from Strayer University. It includes 25 multiple choice questions and 1 problem covering topics related to cost theory, perfect competition, monopolistic competition, and asymmetric information. The document provides the full exam for students to purchase in order to complete their ECO 550 course final exam.
This document provides the full text of the final exam for ECO 550 from Strayer University. It includes multiple choice and problem questions covering chapters 9 through 17 on topics like cost theory, pricing strategy under perfect competition and monopolistic competition, and break-even analysis. The document provides a link to purchase an instant download of the exam solutions.
This document provides the full text of the final exam for ECO 550 from Strayer University. It includes multiple choice and problem questions covering chapters 9 through 17 on topics like cost theory, pricing strategy under perfect competition and monopolistic competition, and break-even analysis. The document provides a link to purchase an instant download of the exam solutions.
1. Which is a characteristic of monopolistic competitionA).docxjackiewalcutt
1. Which is a characteristic of monopolistic competition?
A) standardized product C) absence of nonprice competition
B) a relatively small number of firms D) relatively easy entry
2. In which industry is monopolistic competition most likely to be found?
A) utilities B) agriculture C) retail trade D) mining
3. One difference between monopolistic competition and pure competition is that:
A) products can be standardized or differentiated in pure competition.
B) there is some control over price in monopolistic competition.
C) monopolistic competition has significant barriers to entry.
D) firms differentiate their products in pure competition.
4. The monopolistically competitive seller's demand curve will become more elastic the:
A) larger the number of competitors. C) more significant the barriers to entry.
B) greater the degree of product differentiation. D) smaller the number of competitors.
5. A monopolistically competitive firm is producing at an output level in the short run where average total cost is $4.50, price is $4.00, marginal revenue is $2.50, and marginal cost is $2.50. This firm is operating:
A) with a profit in the short run.
B) with a loss in the short run.
C) at the break-even level of output in the short run.
D) at an efficient level of output in the short run.
6. Refer to the above graph. In the short run, this monopolistically competitive firm will set price at:
A) $65 and produce 45 units of output. C) $50 and produce 35 units of output.
B) $65 and produce 35 units of output. D) $50 and produce 50 units of output.
7. Refer to the above graph. This monopolistically competitive firm is:
A) making economic profit in the long run. C) earning only normal profit in the long run.
B) making economic profit in the short run. D) earning only normal profit in the short run.
8. If monopolistically competitive firms in an industry are making an economic profit, then:
A) new firms will enter the industry and product demand will increase for the existing firms.
B) firms will exit the industry and product demand will decrease for the firms that remain.
C) firms will exit the industry and product demand will increase for the firms that remain.
D) new firms will enter the industry and product demand will decrease for the existing firms.
9. Suppose some firms exit an industry characterized by monopolistic competition. We would expect the demand curve of a firm already in the industry to:
A) shift to the left.
B) shift to the right.
C) become more elastic.
D) remain the same since entering firms serve other customers in the market.
10. Refer to the above graphs. A short-run equilibrium that would produce profits for a monopolistically competitive firm would be represented by graph:
A) A. B) B. C) C. D) D.
11. Refer to the above graphs. A short-run equilibrium that would produce losses for a monopolistically competitive firm would be represented by graph:
A) A. B) B. C) ...
This document contains a series of questions and answers related to economic analysis for business decisions. Specifically, it covers topics like demand elasticity, oligopoly models, monopolistic competition, costs of production including fixed, variable and marginal costs. It discusses key concepts such as profit maximization for firms with different market structures, the shapes of cost curves like average total cost and how they are impacted by factors like diminishing returns. The document is a study guide or quiz for students to test their understanding of foundational microeconomics topics.
To find economic profit from accounting profit, it is necessary to.docxedwardmarivel
To find economic profit from accounting profit, it is necessary to
Select one:
A. subtract dividends.
B. add depreciation expense.
C. subtract the opportunity cost of capital.
D. add retained earnings.
Question 2
The present value of expected future profits will _____ if the discount rate increases and will_____ if expected future profits increase.
Select one:
A. increase; not change
B. increase; increase
C. not change; decrease
D. decrease; increase
E. decrease; decrease
Question 3
Managerial economics draws upon all of the following EXCEPT:
Select one:
A. finance
B. microeconomics
C. accounting
D. marketing
E. sociology
Question 4
Managers may make decisions that are not consistent with the goals of stockholders. This is referred to as the _____ problem.
Select one:
A. principal-agent
B. economic disincentive
C. incentive-compromise
D. efficiency-inefficiency
E. equilibrium
Question 5
Marginal revenue can be defined as the:
Select one:
A. percent increase in total revenue resulting from a one percent increase in output
B. increase in total revenue resulting from a one unit increase in output
C. total revenue divided by output
D. average revenue multiplied by output
E. average revenue multiplied by output divided by 4
Question 6
The cross-price elasticity of demand is defined as the:
Select one:
A. percentage change in the quantity demanded of a good divided by the percentage change in the good's price
B. percentage change in the quantity demanded of a good divided by the percentage change in a different good's price
C. percentage change in a good's price divided by the percentage change in a different good's price
D. change in the quantity demanded of a good divided by the change in its price
E. change in the quantity demanded of a good divided by the change in income
Question 7
Consumer surplus is defined as:
Select one:
A. the quantities of a good or service that bring equal utility to the consumer
B. the quantity of a good or service that is utility maximizing for the consumer
C. the difference between what a consumer is willing to pay and what he or she actually pays for a good or service
D. the difference between the market price and the marginal cost of producing a good or service
E. none of the above
Question 8
The demand for a product is more inelastic the:
Select one:
A. longer the time period covered
B. lower the average income of consumers
C. better the available substitutes
D. poorer the available substitutes
Question 9
If one day it was discovered that lime juice caused cancer, which of the following would likely result?
Select one:
A. The supply curve of lime juice would shift to the right.
B. The demand curve for lime juice would shift to the right.
C. The demand curve for lime juice would shift to the left.
D. The supply curve of lime juice would shift to the left.
Question 10
The demand curve's usual slope implies that consumers:
Select one:
A. buy more as the price of a good is increased
B. buy mo ...
This document contains a multiple choice exam on production analysis and compensation policy presented by Suong Jian and Liu Yan from Guangdong University of Finance. It includes 25 multiple choice questions and 4 problems analyzing production functions and input combinations using tables to determine optimal input levels that maximize output or profits. Key concepts covered are production functions, returns to scale, marginal product, average product, isoquants, marginal rates of technical substitution, and determining input levels to achieve economic efficiency.
This document provides the full text of the final exam for ECO 550 from Strayer University. It includes multiple choice and problem questions covering chapters 9 through 17 on topics like cost theory, pricing strategy under perfect competition and monopolistic competition, and break-even analysis. The document provides a link to purchase an instant download of the exam solutions.
This document provides the full text of the ECO 550 Week 10 Chapter 9 through 17 Final Exam from Strayer University. It includes 25 multiple choice questions and 1 problem covering topics related to cost theory, perfect competition, monopolistic competition, and asymmetric information. The document provides the full exam for students to purchase in order to complete their ECO 550 course final exam.
This document provides the full text of the final exam for ECO 550 from Strayer University. It includes multiple choice and problem questions covering chapters 9 through 17 on topics like cost theory, pricing strategy under perfect competition and monopolistic competition, and break-even analysis. The document provides a link to purchase an instant download of the exam solutions.
This document provides the full text of the final exam for ECO 550 from Strayer University. It includes multiple choice and problem questions covering chapters 9 through 17 on topics like cost theory, pricing strategy under perfect competition and monopolistic competition, and break-even analysis. The document provides a link to purchase an instant download of the exam solutions.
1. Which is a characteristic of monopolistic competitionA).docxjackiewalcutt
1. Which is a characteristic of monopolistic competition?
A) standardized product C) absence of nonprice competition
B) a relatively small number of firms D) relatively easy entry
2. In which industry is monopolistic competition most likely to be found?
A) utilities B) agriculture C) retail trade D) mining
3. One difference between monopolistic competition and pure competition is that:
A) products can be standardized or differentiated in pure competition.
B) there is some control over price in monopolistic competition.
C) monopolistic competition has significant barriers to entry.
D) firms differentiate their products in pure competition.
4. The monopolistically competitive seller's demand curve will become more elastic the:
A) larger the number of competitors. C) more significant the barriers to entry.
B) greater the degree of product differentiation. D) smaller the number of competitors.
5. A monopolistically competitive firm is producing at an output level in the short run where average total cost is $4.50, price is $4.00, marginal revenue is $2.50, and marginal cost is $2.50. This firm is operating:
A) with a profit in the short run.
B) with a loss in the short run.
C) at the break-even level of output in the short run.
D) at an efficient level of output in the short run.
6. Refer to the above graph. In the short run, this monopolistically competitive firm will set price at:
A) $65 and produce 45 units of output. C) $50 and produce 35 units of output.
B) $65 and produce 35 units of output. D) $50 and produce 50 units of output.
7. Refer to the above graph. This monopolistically competitive firm is:
A) making economic profit in the long run. C) earning only normal profit in the long run.
B) making economic profit in the short run. D) earning only normal profit in the short run.
8. If monopolistically competitive firms in an industry are making an economic profit, then:
A) new firms will enter the industry and product demand will increase for the existing firms.
B) firms will exit the industry and product demand will decrease for the firms that remain.
C) firms will exit the industry and product demand will increase for the firms that remain.
D) new firms will enter the industry and product demand will decrease for the existing firms.
9. Suppose some firms exit an industry characterized by monopolistic competition. We would expect the demand curve of a firm already in the industry to:
A) shift to the left.
B) shift to the right.
C) become more elastic.
D) remain the same since entering firms serve other customers in the market.
10. Refer to the above graphs. A short-run equilibrium that would produce profits for a monopolistically competitive firm would be represented by graph:
A) A. B) B. C) C. D) D.
11. Refer to the above graphs. A short-run equilibrium that would produce losses for a monopolistically competitive firm would be represented by graph:
A) A. B) B. C) ...
This document contains a series of questions and answers related to economic analysis for business decisions. Specifically, it covers topics like demand elasticity, oligopoly models, monopolistic competition, costs of production including fixed, variable and marginal costs. It discusses key concepts such as profit maximization for firms with different market structures, the shapes of cost curves like average total cost and how they are impacted by factors like diminishing returns. The document is a study guide or quiz for students to test their understanding of foundational microeconomics topics.
To find economic profit from accounting profit, it is necessary to.docxedwardmarivel
To find economic profit from accounting profit, it is necessary to
Select one:
A. subtract dividends.
B. add depreciation expense.
C. subtract the opportunity cost of capital.
D. add retained earnings.
Question 2
The present value of expected future profits will _____ if the discount rate increases and will_____ if expected future profits increase.
Select one:
A. increase; not change
B. increase; increase
C. not change; decrease
D. decrease; increase
E. decrease; decrease
Question 3
Managerial economics draws upon all of the following EXCEPT:
Select one:
A. finance
B. microeconomics
C. accounting
D. marketing
E. sociology
Question 4
Managers may make decisions that are not consistent with the goals of stockholders. This is referred to as the _____ problem.
Select one:
A. principal-agent
B. economic disincentive
C. incentive-compromise
D. efficiency-inefficiency
E. equilibrium
Question 5
Marginal revenue can be defined as the:
Select one:
A. percent increase in total revenue resulting from a one percent increase in output
B. increase in total revenue resulting from a one unit increase in output
C. total revenue divided by output
D. average revenue multiplied by output
E. average revenue multiplied by output divided by 4
Question 6
The cross-price elasticity of demand is defined as the:
Select one:
A. percentage change in the quantity demanded of a good divided by the percentage change in the good's price
B. percentage change in the quantity demanded of a good divided by the percentage change in a different good's price
C. percentage change in a good's price divided by the percentage change in a different good's price
D. change in the quantity demanded of a good divided by the change in its price
E. change in the quantity demanded of a good divided by the change in income
Question 7
Consumer surplus is defined as:
Select one:
A. the quantities of a good or service that bring equal utility to the consumer
B. the quantity of a good or service that is utility maximizing for the consumer
C. the difference between what a consumer is willing to pay and what he or she actually pays for a good or service
D. the difference between the market price and the marginal cost of producing a good or service
E. none of the above
Question 8
The demand for a product is more inelastic the:
Select one:
A. longer the time period covered
B. lower the average income of consumers
C. better the available substitutes
D. poorer the available substitutes
Question 9
If one day it was discovered that lime juice caused cancer, which of the following would likely result?
Select one:
A. The supply curve of lime juice would shift to the right.
B. The demand curve for lime juice would shift to the right.
C. The demand curve for lime juice would shift to the left.
D. The supply curve of lime juice would shift to the left.
Question 10
The demand curve's usual slope implies that consumers:
Select one:
A. buy more as the price of a good is increased
B. buy mo ...
This document contains a multiple choice exam on production analysis and compensation policy presented by Suong Jian and Liu Yan from Guangdong University of Finance. It includes 25 multiple choice questions and 4 problems analyzing production functions and input combinations using tables to determine optimal input levels that maximize output or profits. Key concepts covered are production functions, returns to scale, marginal product, average product, isoquants, marginal rates of technical substitution, and determining input levels to achieve economic efficiency.
Page 1 Microeconomics CH 9-10 Take home quiz. Mar.docxalfred4lewis58146
Page 1
Microeconomics: CH 9-10 Take home quiz.
Mark your answers on a Scantron BEFORE class. Bring your Scantron to Class On Monday,
November 26. Be sure to be on time, late Scantron forms will be penalized. Scantron forms
coming in after we complete the review in class cannot be accepted for points.
1. Perfect competition is a model of the market that assumes all of the following EXCEPT:
A) a large number of firms.
B) firms face downward-sloping demand curves.
C) firms produce identical goods.
D) many buyers.
2. Which of the following is true in a perfectly competitive market?
A) One unit of a good or service cannot be differentiated from any other on any basis.
B) Brand preferences exist but are very slight.
C) Barriers to entry are relatively strong.
D) Information is costly.
3. Marginal revenue:
A) is the slope of the average revenue curve.
B) equals the market price in perfect competition.
C) is the change in quantity divided by the change in total revenue.
D) is the price divided by the changes in quantity.
4. A firm's total output times the price at which it sells that output is:
A) net revenue.
B) total revenue.
C) average revenue.
D) marginal revenue.
5. In perfect competition:
A) price and marginal cost are the same.
B) price and marginal revenue are the same.
C) price and total revenue are the same.
D) total revenue and total variable cost are the same.
Page 2
Use the following to answer questions 6-9:
6. (Exhibit: Profit Maximizing) The exhibit shows cost curves for a firm operating in a
perfectly competitive market. Curve M is the _______ curve.
A) ATC
B) MR
C) MC
D) AVC
7. (Exhibit: Profit Maximizing) The exhibit shows cost curves for a firm operating in a
perfectly competitive market. Curve N is the _______ curve.
A) ATC
B) MR
C) MC
D) AVC
8. (Exhibit: Profit Maximizing) The exhibit shows cost curves for a firm operating in a
perfectly competitive market. If the market price is P3, the firm will produce quantity
_______ and _______ in the short run.
A) q2; make a profit
B) q1; break even
C) q2; incur a loss
D) q4; incur a loss
9. (Exhibit: Profit Maximizing) The exhibit shows cost curves for a firm operating in a
perfectly competitive market. If the market price is P4:
A) firms will leave the industry and the price will fall in the long run.
B) there will be economic profits in the short run and firms will enter the industry in
the long run driving the market price lower.
C) the market supply curve will shift to the left and price will fall in the long run.
D) the firm will continue producing q3 and will continue to make economic profits in
the long run.
Page 3
Use the following to answer questions 10-11:
10. (Exhibit: A Perfectly Competitive Firm in the Short Run) The lowest price that will
yield zero economic profits is indicated by th.
This document provides a sample management advisory services exam with questions and answers on various topics such as:
- Cost of capital and the tax shield effect
- Components of the cash conversion cycle
- Timing of cash flows in capital budgeting projects
- Relationship between breakeven and shutdown points
- Measures of productivity, leverage, and demand elasticity
- Cost behavior and cost drivers in activity-based costing
- Capital budgeting techniques like payback period, net present value, and internal rate of return
- Relevant versus irrelevant costs in decision making
- Steps in strategic planning and master budget preparation
This document appears to be a practice exam for an ACC 434 final exam. It contains 25 multiple choice questions covering a variety of accounting cost and management topics, including activity-based costing, budgeting, cost estimation methods, sunk costs, life-cycle budgeting, cost allocation, sensitivity analysis, quality costs, and inventory carrying costs. The questions require understanding of accounting concepts and calculations to determine the correct multiple choice answer.
1. The document provides a sample exam for ACC 434 with 25 multiple choice questions covering topics such as activity-based costing, budgeting, cost allocation, transfer pricing, quality costs, and inventory carrying costs.
2. Questions address calculating indirect cost allocation rates, budgeted cash payments, identifying sunk costs, allocating joint costs using the benefits-received criterion, and determining the effects of changes to quality prevention methods on appraisal costs.
3. Sample questions also cover quantitative cost estimation methods, the theory of constraints, life-cycle budgeting, sensitivity analysis, and estimating total setup costs for inventory production runs.
1. The document provides sample exam questions for ACC 434 final exams. It includes 25 multiple choice questions covering topics like activity-based costing, budgeting, cost allocation, transfer pricing, quality costs, and inventory costs.
2. The questions assess understanding of cost accounting concepts like indirect cost rates, budgeted cash payments, sunk costs, cost functions, life-cycle budgeting, sensitivity analysis, and inventory carrying costs.
3. Answers to the exam questions can be found by visiting the website provided. The questions cover a range of cost accounting topics tested on the ACC 434 final exam.
PAGE 2Accounting Midterm ExamBe sure to show your w.docxalfred4lewis58146
PAGE
2
Accounting
Midterm Exam
Be sure to show your work clearly for partial credit.
The point breakdown is as follows:
Multiple choice (30 @ 2 points)
60.0 points
Problem 1
15.0 points
Problem 2
10.0 points
Problem 3
15.0 points
Total
100.0 points
Name:_____________________________
I have complied with the University’s honor code, which requires that I do my own work and not give or receive assistance on this examination. Revealing information to (or soliciting from) students is a violation of the honor code.
Signed: _____________________________
MULTIPLE CHOICE
Select the best answer to each question by circling your answer.
1. Midwest Motors manufactures automobiles. Which of the following would not be considered direct materials by the company?
A)
Sheet metal used in automobile’s body.
B)
Tires.
C)
Interior leather.
D)
CD Player.
E)
Wheel lubricant.
2.
Which of the following is a product cost?
A)
Glass in an automobile
B)
Advertising
C)
The salary of the vice president
D)
Insurance for factory building.
3.
The corporate controller's salary would be considered a(n):
A)
manufacturing cost.
B)
product cost.
C)
administrative cost.
D)
selling expense.
4.
Manufacturing overhead:
A)
can be either a variable cost or a fixed cost.
B)
includes the costs of advertising.
C)
includes all factory labor costs.
D)
includes all fixed costs.
5.
Which one of the following costs should NOT be considered an indirect cost of serving a particular customer at a Dairy Queen fast food outlet?
A)
the cost of the hamburger patty in the burger they ordered.
B)
the wages of the employee who takes the customer's order.
C)
the cost of heating and lighting the kitchen.
D)
the salary of the outlet's manager.
6.
Which of the following statements represents a similarity between financial and managerial accounting?
A)
Both are useful in providing information for external users.
B)
Both are governed by GAAP.
C)
Both draw upon an organization’s accounting system.
D)
Both rely heavily on published financial statements.
7.
The accounting records of Hill Corporation revealed the following selected costs: Sales commissions, $40,000; plant supervision, $94,000; and administrative expenses, $185,000. Hill's period costs total:
A)
$40,000.
B)
$94,000.
C)
$185,000.
D)
$225,000.
E)
$319,000.
8.
An employee accidentally overstated the year's advertising expense by $50,000. Which of the following correctly depicts the effect of this error?
A)
Cost of goods manufactured will be overstated by $50,000.
B)
Cost of goods sold will be overstated by $50,000.
C)
Both cost of goods manufactured and cost of goods sold will be overstated by $50,000.
D)
None of the above.
9.
If there is a change in the level of the number of units produced:
A)
fixed costs per unit will be the same and variable costs per unit will change.
B)
fixed and variable costs per unit will change.
C)
fixed and va.
The document contains multiple choice questions related to economics and business decision-making. Specifically, it covers topics like costs and profits, demand and elasticity, production and pricing decisions. The questions require analyzing quantitative data on costs, revenues, output levels etc. and determining the optimal choice based on economic principles.
The document contains a series of multiple choice questions related to economics and business decision-making. Specifically, the questions cover topics such as costs that are relevant or irrelevant to a decision, determining the optimal configuration or production decision based on costs and benefits, determining if profits would increase from a price increase given demand elasticity, and identifying economic concepts like price elasticity, marginal costs, opportunity costs, and more.
This document appears to be a study guide for an ACC 349 final exam, listing 42 multiple choice questions covering topics related to managerial and cost accounting. The questions assess understanding of concepts like factory overhead application, manufacturing overhead allocation, job order and process costing systems, activity-based costing, standard costs, budgeting, and cost-volume-profit analysis.
This document appears to be a study guide for an ACC 349 final exam, listing 42 multiple choice questions covering topics related to managerial and cost accounting. The questions assess understanding of concepts like factory overhead application, manufacturing overhead allocation, job order and process costing systems, activity-based costing, standard costs, budgeting, and cost-volume-profit analysis.
This document appears to be a practice exam for an ACC 349 final exam. It contains 30 multiple choice questions covering topics related to managerial and cost accounting, including factory overhead application, job order costing, activity-based costing, standard costs, budgets, and variance analysis. The questions assess understanding of key cost accounting concepts and ability to apply those concepts to calculate costs, variances, break-even points, and make or buy decisions.
Which of the following is a long run adjustment A. A farmer applies.docxjolleybendicty
Which of the following is a long run adjustment? A. A farmer applies extra fertilizer on his corn crop. B. An American watch manufacturer leaves the watch industry. C. A supermarket hires four additional workers. D. A local bakery lets two of its current employees go. (i.e., reduces its workforce) 2. It is easiest for new firms to enter which of the following market structures? A. pure competition B. monopolistic competition C. oligopoly D. pure monopoly 3. In the short run a firm’s output A. cannot be increased or decreased. B. may be altered by changing the size of its plant and equipment. C. can vary as a result of new firms entering or leaving the industry. D. can vary as a result of using a fixed amount of plant and equipment more or less intensely. E. both B and C are correct. 4. The long-run average total cost curve for some industries, like the U.S. apparel industry, have an extended range of constant returns to scale. This implies that A. neither economies of scale nor diseconomies of scale exist in this industry. B. the U.S. apparel industry is comprised of a very large number of small firms. C. the U.S. apparel industry is comprised of a very small number of very large firms. D. both relatively small and relatively large firms coexist in the U.S. apparel industry. 5. Suppose the total revenue for a firm is $15,000. Explicit costs are $12,000 and normal profit is $4,000. Which of the following is correct? A. Accounting and economic profit both equal $3,000. B. Accounting profit equals $3,000 while economic profit equals $4,000. C. Accounting profit equals -$1,000 while economic profit equals -$5,000. D. Accounting profit equals $3,000 while economic profit equals -$1,000. E. Accounting and economic profit both equal $3,000. 6. Normal profits A. are greater than the opportunity cost to the firm. B. are zero under pure competition in the long run. C. are necessary to keep a firm in the industry in the long run. D. are not included in the firm’s economic costs of production. 7. A business firm has moved its offices to a new location. It must continue to pay $3,000 a month rent for the old office space for six months as long as it remains un-rented; after that its lease will expire and it will not be required to pay any rent. If the firm succeeds in renting the old office before the six months is up, it will not have to pay rent, but it will have to pay $1,000 a month for local utility services. If the firm wants to lose as little as possible (or make as much money as possible), it should rent the old office space for as much as the market will bear provided the monthly rent is above A. $1,000. B. $3,000. C. $4,000. D. $5,000. 8. Marginal product A. is always less than average product. B. diminishes continuously as a firm increases production. C. may initially increase, then diminish, but never becomes zero as a firm increases production. D. may increase, then diminish, and ultimately become negative as a firm increases production. 9. W.
1) A cost management system provides ________.A) measures of i.docxdorishigh
1) A cost management system provides ________.
A) measures of inventory value and cost of goods sold for financial reporting
B) cost information for strategic management decisions
C) cost information for operational control
D) all of the above
2) Cost accounting is that part of the cost management system that measures costs for the sole purpose of financial reporting. True or False
3) Which of the following costs is a direct cost to a manufactured product?
A) depreciation expense on factory equipment used for the product
B) the wages of an assembly worker who works specifically on the product
C) accountants who accumulate the costs of the product
D) a factory supervisor who oversees the production of several different types of products
4) Physically tracing ________ costs is usually straightforward, but allocating ________ costs is usually more complex.
A) indirect; direct
B) direct; product
C) direct; indirect
D) unallocated; indirect
5) Unallocated costs ________.
A) have an identifiable relationship to a cost pool
B) lack an identifiable relationship to a cost pool
C) have an identifiable relationship to a cost object
D) lack an identifiable relationship to a cost object
6) Unallocated costs ________.
A) are not recorded in the cost accounting system
B) are not allocated to cost objects
C) are direct costs for service firms
D) are indirect costs for merchandising firms
7) The manufacturing division of an electronics company uses activity-based costing. The company has identified three activities and the related cost drivers for indirect production costs.
Activity
Cost Driver
Activity 1
Direct materials cost
Activity 2
Direct labor cost
Activity 3
Kilowatt hours
Three types of products are produced. Direct costs and cost-driver activity for each product for a month are as follows:
Product A
Product B
Product C
Direct materials cost
$75,000
$50,000
$125,000
Direct labor cost
$6,000
$1,000
$3,000
Direct labor hours
1,000
500
1,500
Kilowatt hours
150,000
200,000
150,000
Indirect production costs for the month are as follows:
Activity 1
$12,000
Activity 2
20,000
Activity 3
16,000
Total
$48,000
Required:
A) Compute the indirect production costs allocated to each product using the ABC system.
B) Compute the indirect production costs allocated to each product using a traditional costing system. Assume indirect production costs are allocated to each product using the cost driver: direct labor hours.
8) Historical or past information can have an indirect bearing on a decision because ________.
A) the past can be changed
B) it can help predict the future
C) past decisions are always good decisions
D) none of the above
9) ________ is the predicted future costs and revenues that will differ among alternative courses of action.
A) Relevant information
B) Sunk costs
C) Predictable information
D) Target pricing
10) Information is relevant in business decisions if it is a(n) ________.
A) expected future cost or it diffe ...
Assist with first annotated bibliography. Assist with f.docxnormanibarber20063
Assist with first
annotated bibliography
.
Assist with first
annotated bibliography
.
(Thesis topic: Psychotherapy)
. Each submission must also include a brief critique of the source (e.g., how could the study be improved, criticism of the author(s) assertions, ideas for future studies, etc.).
summary of the article, including the purpose/hypothesis of the study, a statement about the participants and methods utilized in the study, results and implications for future research, as well as the methodological limitations/critique of the study.
.
Assistance needed with SQL commandsI need assistance with the quer.docxnormanibarber20063
Assistance needed with SQL commands
I need assistance with the query commands assigned to an assignment. I have the databases properly created and do not need assistance with the commands associated with creating the databases. Here is the complete assignment. I have attached the database information.
The structure of the movies database is as follows:
Director (
DIRNUB
, DIRNAME, DIRBORN, YR-DIRDIED)
STAR (
STARNUB
, STARNAME, BIRTHPLACE, STARBORN, YR-STARDIED)
MOVIE (
MVNUB
, MVTITLE, YRMDE, MVTYPE, CRIT, MPAA, NOMINATIONS, AWRD,
DIRNUB
)
MOVSTAR (
MVNUB
,
STARNUB
, AMTPAID)
MEMBER (
MMBNUB
, MMBNAME, MMBADD, MMBCITY, MMBST, NUMRENT, BONUS, JOINDATE)
TAPE (
TAPENUM,
MVNUB, PURDATE, TMSRNT,
MMBNUB
)
Create Video Store database as discussed in the class. Make sure to correct column widths/types before creating tables. Use SQL to form queries to produce the following reports
:
** List the names and numbers of directors whose names begin with the alphabet ‘K’.
List the tape no, movie title, and the membership number and name of members, who are currently borrowing tapes numbered below 20. Arrange the report in descending order by tape number.
List the names and respective numbers of stars and directors who have worked together.
** List the tape numbers for movies of movie type: ‘HORROR’.
List the name of the director who has received the maximum number of total awards considering all his/her movies: AWRD.
** List the names of all members who have not borrowed any movie currently.
List the movie type and number of tapes for each type in the database.
** For each movie list total how many times it has been rented: TMSRNT.
Report the total times rented (TMSRNT) for each movie type.
The database administrator discovers that the name of director whose number is 7 in the database should be spelt as ‘JOHNNY FORD’. Make corrections to the data.
Delete the movie number 14 and all its tapes. Print both tables to verify.
List all tape numbers and their movie titles, and indicate the member number and member name if the tape is currently rented out.
13. List all tape numbers, and also indicate the member’s city if a tape is currently rented out by a member.
14. Who is the youngest director?
How many movies did he/she direct?
15. Grant access to me (joshi) to your movstar table for select and update.
16. Create a unique index on movstar table.
17. For each movie type list the average age of movies given the current year is 2011.
18. ** Create a view MEMB_TAPES that includes the currently rented movies and the members who are renting them, include movie type.
19. ** Use the view MEMB_TAPES to find all currently rented “COMEDY” type movies and members who are renting them.
20. ** List all tape numbers, along with movie name and member name if rented out (leave member name blank if not rented out).
.
assingment Assignment Agenda Comparison Grid and Fact Sheet or .docxnormanibarber20063
assingment
Assignment: Agenda Comparison Grid and Fact Sheet or Talking Points Brief
It may seem to you that healthcare has been a national topic of debate among political leaders for as long as you can remember.
Healthcare has been a policy item and a topic of debate not only in recent times but as far back as the administration of the second U.S. president, John Adams. In 1798, Adams signed legislation requiring that 20 cents per month of a sailor’s paycheck be set aside for covering their medical bills. This represented the first major piece of U.S. healthcare legislation, and the topic of healthcare has been woven into presidential agendas and political debate ever since.
As a healthcare professional, you may be called upon to provide expertise, guidance and/or opinions on healthcare matters as they are debated for inclusion into new policy. You may also be involved in planning new organizational policy and responses to changes in legislation. For all of these reasons you should be prepared to speak to national healthcare issues making the news.
In this Assignment, you will analyze recent presidential healthcare agendas. You also will prepare a fact sheet to communicate the importance of a healthcare issue and the impact on this issue of recent or proposed policy.
To Prepare:
Review the agenda priorities of the
current/sitting U.S. president and the two previous presidential administrations.
Select an issue related to healthcare that was addressed by each of the last three U.S. presidential administrations.
Reflect on the focus of their respective agendas, including the allocation of financial resources for addressing the healthcare issue you selected.
Consider how you would communicate the importance of a healthcare issue to a legislator/policymaker or a member of their staff for inclusion on an agenda.
The Assignment: (1- to 2-page Comparison Grid, 1-Page Analysis, and 1-page Fact Sheet)
Part 1: Agenda Comparison Grid
Use the Agenda Comparison Grid Template found in the Learning Resources and complete the Part 1: Agenda Comparison Grid based on the current/sitting U.S. president and the two previous presidential administrations and their agendas related to the public health concern you selected. Be sure to address the following:
Identify and provide a brief description of the population health concern you selected and the factors that contribute to it.
Describe the administrative agenda focus related to the issue you selected.
Identify the allocations of financial and other resources that the current and two previous presidents dedicated to this issue.
Explain how each of the presidential administrations approached the issue.
Part 2: Agenda Comparison Grid Analysis
Using the information you recorded in Part 1: Agenda Comparison Grid on the template, complete the Part 2: Agenda Comparison Grid Analysis portion of the template, by addressing the following:
Which administrative agency would most likely be respons.
Assimilate the lessons learned from the dream sequences in Defense o.docxnormanibarber20063
Assimilate the lessons learned from the dream sequences in Defense of Duffer's Drift.
The Lieutenant's dream sequences help him understand his tactical problem and make decisions when faced with a new problem. The Lieutenant had virtually no knowledge of the terrain, the weather, civilians, enemy, etc. If an intelligence section had been made available to the Lieutenant, how might have he used such a staff to help him avoid the painful (and deadly) consequences of poor decision making in his dream sequences?
.
Assignmnt-500 words with 2 referencesRecognizing the fa.docxnormanibarber20063
Assignmnt:-
500 words with 2 references
Recognizing the fact usernames passwords are the weakest link in an organization’s security system because username and password are shareable, and most passwords and usernames are vulnerable and ready to be cracked with a variety of methods using adopting a record number of devices and platforms connected to the Internet of Things daily and at an alarming rate.
Provide the all-inclusive and systematic narratives of the impact of physical biometric operations on the current and future generation.
500 words with 2 references
Discussion:-
Discussion
Effective and efficient use of biometric technology will play a key role in automating method of identifying living persons based on individual physiological and behavioral characteristics.
Provide the comprehensive narratives on the advantages and disadvantages of a physical biometric system?
.
Assignmnt-700 words with 3 referencesToday, there is a crisi.docxnormanibarber20063
Assignmnt-700 words with 3 references
Today, there is a crisis about organizations’ inability to resolve the age-old problem of how to control the abuse of trust and confidence given to authorized officials to freely logon onto the organization’s system, Many such officials , turn around to betray the organization by committing cybercrimes. Vulnerability stems from interactions and communications among several system components and categorized as deficiency, weakness and security cavity on
network data center.
To what extent do internal threats constitute a key factor against any organization’s ability to battle insider threats caused by people who abuse assigned privilege?
What is the most effective mechanism for organizations to combat internal threats?
Why should disgruntled employees must be trained on the danger of throwing wastepaper and electronic media in a bin within and outside the facility?
Discussion:
400 words with 2 references
Per Fennelly (2017-182), “Why do Employees steal?” employee stealing is a multiple part operation.
Most organizations are often intolerant and impatient to verify employee’s identity and background and establish trust due to the time-consuming nature of daily assignments.
Most organizations often ignore to establish and adopt on-board ecological waste management action plans to deal with discarded materials, shredded left-over documents and magnetic media and placing fragments in isolated location.
Nonetheless, organizations must learn to support and train employers who are assigned to work and protect the organization data center, facilities and resources. Large segments of any organizations’ facility managers are often none-aggressive and choose short cuts in discharging assigned services by posting passwords on the screen and leaving confidential documents lying out on the table and uploading same document to associates, husbands, loved ones and competitors. Most authorized users within the organization are often the puniest linkage in any security operation.
Per Fennelly (2017-182), “Why do Employees steal?”
employee stealing is a multiple part operation.
Disgruntled employees can install sniffers on organizations’ data file server via polite phone calls
They can gain required user identification and password to access the organization’s secured data center.
Most organization retain an employee on the same salary for twenty years and they pay new a newly hired employee the salary of the actively existing employee.
Most organizations often ignore to establish and adopt on-board ecological waste management action plans to deal with discarded materials, shredded left-over documents and magnetic media and placing fragments in isolated location.
.
Assignment For Paper #2, you will pick two poems on a similar th.docxnormanibarber20063
Assignment:
For Paper #2, you will pick two poems on a similar theme to
compare and contrast
. Your paper will explain how the poems use some of the poetic devices we’ve been discussing to express distinct attitudes towards their common subject. It will point out the
similarities and differences
in the ways the two poems do
this
. Therefore, you will need to compare and contrast the general tones of the poems as well as how they use poetic devices to create those tones. Poetic devices you might want to consider include diction, imagery, figurative language, sound (including rhyme, alliteration, assonance, rhythm, and meter), and form.
Your
audience
for this paper is other students in the class who have read these poems. You can assume that your reader has the poems in front of him or her, so you don’t need to quote the whole poem, though a brief paraphrase might be useful. You will need to quote specific lines, phrases, or words in order to point out specific features of the poems. Your
purpose
is to help your reader see the
differences and similarities
in the two poems and, consequently, to better understand how each one works to create its particular effects or meanings.
Your paper should be
800 – 1000 words long, typed and double-spaced, with 1” margins all around
.
Use of secondary sources (other than our own textbook) is not allowed
for this assignment. If you have questions about the poem, ask other students or the instructor.
Here are some
suggested topics
:
1. Compare and contrast the ways Whitman’s “To a Locomotive in
Winter
” (p. 504) and Dickinson’s “I like to see it lap the Miles” (p. 504-05) represent their common subject: a locomotive. What claims does each poem make about the locomotive? What tone or attitude is taken towards the locomotive? How does each poem use specific poetic devices to create its tone?
2. Compare and contrast the ways Lovelace’s “To
Lucasta
” (p. 521) and Owens’ “
Dulce
et
Decorum
Est
” (p. 521-22) represent their common subject: war. What claims does each poem make about war? What tone or attitude is taken towards war? How does each poem use specific poetic devices to create its tone?
3. Compare and contrast the ways
any two
love poems in our reading represent their common subject. What claims does each poem make about love? What tone or attitude is taken towards love? How does each poem use specific poetic devices to create its tone? (Please check the two poems you pick with the instructor before proceeding.)
4. Compare and contrast the ways
any two
of the following poems represent God:
·
Donne’s “Batter my Heart, Three-
Personed
God” (p. 531),
·
Hopkins’ “God’s Grandeur” (p. 624),
·
Herbert’s “Easter Wings” (p. 676),
·
Blake’s “The
Tyger
” (p. 824-25).
What claims does each poem make about God? What tone or attitude is taken towards God? How does each poem use specific poetic devices to create its tone?
5. Compare and contrast the ways.
Assignment Write an essay comparingcontrasting two thingspeople.docxnormanibarber20063
Assignment:
Write an essay comparing/contrasting two things/people/places/ideas, etc. This should not simply be a list of their similarities and differences, but a cohesive essay written in paragraph form with a thesis, introduction, body, and conclusion.
Remember, a compare/contrast thesis can be formulated in one of the following ways:
1) One thing is better than another
2) Two things that seem to be similar are actually different
3) Two things that seem different are actually similar
Parameters:
*Typed
*Double-Spaced
*Times New Roman
*12 Point Font
*1 Inch Margin
*3 pages (not even a word shorter)
*2 outside sources
.
Page 1 Microeconomics CH 9-10 Take home quiz. Mar.docxalfred4lewis58146
Page 1
Microeconomics: CH 9-10 Take home quiz.
Mark your answers on a Scantron BEFORE class. Bring your Scantron to Class On Monday,
November 26. Be sure to be on time, late Scantron forms will be penalized. Scantron forms
coming in after we complete the review in class cannot be accepted for points.
1. Perfect competition is a model of the market that assumes all of the following EXCEPT:
A) a large number of firms.
B) firms face downward-sloping demand curves.
C) firms produce identical goods.
D) many buyers.
2. Which of the following is true in a perfectly competitive market?
A) One unit of a good or service cannot be differentiated from any other on any basis.
B) Brand preferences exist but are very slight.
C) Barriers to entry are relatively strong.
D) Information is costly.
3. Marginal revenue:
A) is the slope of the average revenue curve.
B) equals the market price in perfect competition.
C) is the change in quantity divided by the change in total revenue.
D) is the price divided by the changes in quantity.
4. A firm's total output times the price at which it sells that output is:
A) net revenue.
B) total revenue.
C) average revenue.
D) marginal revenue.
5. In perfect competition:
A) price and marginal cost are the same.
B) price and marginal revenue are the same.
C) price and total revenue are the same.
D) total revenue and total variable cost are the same.
Page 2
Use the following to answer questions 6-9:
6. (Exhibit: Profit Maximizing) The exhibit shows cost curves for a firm operating in a
perfectly competitive market. Curve M is the _______ curve.
A) ATC
B) MR
C) MC
D) AVC
7. (Exhibit: Profit Maximizing) The exhibit shows cost curves for a firm operating in a
perfectly competitive market. Curve N is the _______ curve.
A) ATC
B) MR
C) MC
D) AVC
8. (Exhibit: Profit Maximizing) The exhibit shows cost curves for a firm operating in a
perfectly competitive market. If the market price is P3, the firm will produce quantity
_______ and _______ in the short run.
A) q2; make a profit
B) q1; break even
C) q2; incur a loss
D) q4; incur a loss
9. (Exhibit: Profit Maximizing) The exhibit shows cost curves for a firm operating in a
perfectly competitive market. If the market price is P4:
A) firms will leave the industry and the price will fall in the long run.
B) there will be economic profits in the short run and firms will enter the industry in
the long run driving the market price lower.
C) the market supply curve will shift to the left and price will fall in the long run.
D) the firm will continue producing q3 and will continue to make economic profits in
the long run.
Page 3
Use the following to answer questions 10-11:
10. (Exhibit: A Perfectly Competitive Firm in the Short Run) The lowest price that will
yield zero economic profits is indicated by th.
This document provides a sample management advisory services exam with questions and answers on various topics such as:
- Cost of capital and the tax shield effect
- Components of the cash conversion cycle
- Timing of cash flows in capital budgeting projects
- Relationship between breakeven and shutdown points
- Measures of productivity, leverage, and demand elasticity
- Cost behavior and cost drivers in activity-based costing
- Capital budgeting techniques like payback period, net present value, and internal rate of return
- Relevant versus irrelevant costs in decision making
- Steps in strategic planning and master budget preparation
This document appears to be a practice exam for an ACC 434 final exam. It contains 25 multiple choice questions covering a variety of accounting cost and management topics, including activity-based costing, budgeting, cost estimation methods, sunk costs, life-cycle budgeting, cost allocation, sensitivity analysis, quality costs, and inventory carrying costs. The questions require understanding of accounting concepts and calculations to determine the correct multiple choice answer.
1. The document provides a sample exam for ACC 434 with 25 multiple choice questions covering topics such as activity-based costing, budgeting, cost allocation, transfer pricing, quality costs, and inventory carrying costs.
2. Questions address calculating indirect cost allocation rates, budgeted cash payments, identifying sunk costs, allocating joint costs using the benefits-received criterion, and determining the effects of changes to quality prevention methods on appraisal costs.
3. Sample questions also cover quantitative cost estimation methods, the theory of constraints, life-cycle budgeting, sensitivity analysis, and estimating total setup costs for inventory production runs.
1. The document provides sample exam questions for ACC 434 final exams. It includes 25 multiple choice questions covering topics like activity-based costing, budgeting, cost allocation, transfer pricing, quality costs, and inventory costs.
2. The questions assess understanding of cost accounting concepts like indirect cost rates, budgeted cash payments, sunk costs, cost functions, life-cycle budgeting, sensitivity analysis, and inventory carrying costs.
3. Answers to the exam questions can be found by visiting the website provided. The questions cover a range of cost accounting topics tested on the ACC 434 final exam.
PAGE 2Accounting Midterm ExamBe sure to show your w.docxalfred4lewis58146
PAGE
2
Accounting
Midterm Exam
Be sure to show your work clearly for partial credit.
The point breakdown is as follows:
Multiple choice (30 @ 2 points)
60.0 points
Problem 1
15.0 points
Problem 2
10.0 points
Problem 3
15.0 points
Total
100.0 points
Name:_____________________________
I have complied with the University’s honor code, which requires that I do my own work and not give or receive assistance on this examination. Revealing information to (or soliciting from) students is a violation of the honor code.
Signed: _____________________________
MULTIPLE CHOICE
Select the best answer to each question by circling your answer.
1. Midwest Motors manufactures automobiles. Which of the following would not be considered direct materials by the company?
A)
Sheet metal used in automobile’s body.
B)
Tires.
C)
Interior leather.
D)
CD Player.
E)
Wheel lubricant.
2.
Which of the following is a product cost?
A)
Glass in an automobile
B)
Advertising
C)
The salary of the vice president
D)
Insurance for factory building.
3.
The corporate controller's salary would be considered a(n):
A)
manufacturing cost.
B)
product cost.
C)
administrative cost.
D)
selling expense.
4.
Manufacturing overhead:
A)
can be either a variable cost or a fixed cost.
B)
includes the costs of advertising.
C)
includes all factory labor costs.
D)
includes all fixed costs.
5.
Which one of the following costs should NOT be considered an indirect cost of serving a particular customer at a Dairy Queen fast food outlet?
A)
the cost of the hamburger patty in the burger they ordered.
B)
the wages of the employee who takes the customer's order.
C)
the cost of heating and lighting the kitchen.
D)
the salary of the outlet's manager.
6.
Which of the following statements represents a similarity between financial and managerial accounting?
A)
Both are useful in providing information for external users.
B)
Both are governed by GAAP.
C)
Both draw upon an organization’s accounting system.
D)
Both rely heavily on published financial statements.
7.
The accounting records of Hill Corporation revealed the following selected costs: Sales commissions, $40,000; plant supervision, $94,000; and administrative expenses, $185,000. Hill's period costs total:
A)
$40,000.
B)
$94,000.
C)
$185,000.
D)
$225,000.
E)
$319,000.
8.
An employee accidentally overstated the year's advertising expense by $50,000. Which of the following correctly depicts the effect of this error?
A)
Cost of goods manufactured will be overstated by $50,000.
B)
Cost of goods sold will be overstated by $50,000.
C)
Both cost of goods manufactured and cost of goods sold will be overstated by $50,000.
D)
None of the above.
9.
If there is a change in the level of the number of units produced:
A)
fixed costs per unit will be the same and variable costs per unit will change.
B)
fixed and variable costs per unit will change.
C)
fixed and va.
The document contains multiple choice questions related to economics and business decision-making. Specifically, it covers topics like costs and profits, demand and elasticity, production and pricing decisions. The questions require analyzing quantitative data on costs, revenues, output levels etc. and determining the optimal choice based on economic principles.
The document contains a series of multiple choice questions related to economics and business decision-making. Specifically, the questions cover topics such as costs that are relevant or irrelevant to a decision, determining the optimal configuration or production decision based on costs and benefits, determining if profits would increase from a price increase given demand elasticity, and identifying economic concepts like price elasticity, marginal costs, opportunity costs, and more.
This document appears to be a study guide for an ACC 349 final exam, listing 42 multiple choice questions covering topics related to managerial and cost accounting. The questions assess understanding of concepts like factory overhead application, manufacturing overhead allocation, job order and process costing systems, activity-based costing, standard costs, budgeting, and cost-volume-profit analysis.
This document appears to be a study guide for an ACC 349 final exam, listing 42 multiple choice questions covering topics related to managerial and cost accounting. The questions assess understanding of concepts like factory overhead application, manufacturing overhead allocation, job order and process costing systems, activity-based costing, standard costs, budgeting, and cost-volume-profit analysis.
This document appears to be a practice exam for an ACC 349 final exam. It contains 30 multiple choice questions covering topics related to managerial and cost accounting, including factory overhead application, job order costing, activity-based costing, standard costs, budgets, and variance analysis. The questions assess understanding of key cost accounting concepts and ability to apply those concepts to calculate costs, variances, break-even points, and make or buy decisions.
Which of the following is a long run adjustment A. A farmer applies.docxjolleybendicty
Which of the following is a long run adjustment? A. A farmer applies extra fertilizer on his corn crop. B. An American watch manufacturer leaves the watch industry. C. A supermarket hires four additional workers. D. A local bakery lets two of its current employees go. (i.e., reduces its workforce) 2. It is easiest for new firms to enter which of the following market structures? A. pure competition B. monopolistic competition C. oligopoly D. pure monopoly 3. In the short run a firm’s output A. cannot be increased or decreased. B. may be altered by changing the size of its plant and equipment. C. can vary as a result of new firms entering or leaving the industry. D. can vary as a result of using a fixed amount of plant and equipment more or less intensely. E. both B and C are correct. 4. The long-run average total cost curve for some industries, like the U.S. apparel industry, have an extended range of constant returns to scale. This implies that A. neither economies of scale nor diseconomies of scale exist in this industry. B. the U.S. apparel industry is comprised of a very large number of small firms. C. the U.S. apparel industry is comprised of a very small number of very large firms. D. both relatively small and relatively large firms coexist in the U.S. apparel industry. 5. Suppose the total revenue for a firm is $15,000. Explicit costs are $12,000 and normal profit is $4,000. Which of the following is correct? A. Accounting and economic profit both equal $3,000. B. Accounting profit equals $3,000 while economic profit equals $4,000. C. Accounting profit equals -$1,000 while economic profit equals -$5,000. D. Accounting profit equals $3,000 while economic profit equals -$1,000. E. Accounting and economic profit both equal $3,000. 6. Normal profits A. are greater than the opportunity cost to the firm. B. are zero under pure competition in the long run. C. are necessary to keep a firm in the industry in the long run. D. are not included in the firm’s economic costs of production. 7. A business firm has moved its offices to a new location. It must continue to pay $3,000 a month rent for the old office space for six months as long as it remains un-rented; after that its lease will expire and it will not be required to pay any rent. If the firm succeeds in renting the old office before the six months is up, it will not have to pay rent, but it will have to pay $1,000 a month for local utility services. If the firm wants to lose as little as possible (or make as much money as possible), it should rent the old office space for as much as the market will bear provided the monthly rent is above A. $1,000. B. $3,000. C. $4,000. D. $5,000. 8. Marginal product A. is always less than average product. B. diminishes continuously as a firm increases production. C. may initially increase, then diminish, but never becomes zero as a firm increases production. D. may increase, then diminish, and ultimately become negative as a firm increases production. 9. W.
1) A cost management system provides ________.A) measures of i.docxdorishigh
1) A cost management system provides ________.
A) measures of inventory value and cost of goods sold for financial reporting
B) cost information for strategic management decisions
C) cost information for operational control
D) all of the above
2) Cost accounting is that part of the cost management system that measures costs for the sole purpose of financial reporting. True or False
3) Which of the following costs is a direct cost to a manufactured product?
A) depreciation expense on factory equipment used for the product
B) the wages of an assembly worker who works specifically on the product
C) accountants who accumulate the costs of the product
D) a factory supervisor who oversees the production of several different types of products
4) Physically tracing ________ costs is usually straightforward, but allocating ________ costs is usually more complex.
A) indirect; direct
B) direct; product
C) direct; indirect
D) unallocated; indirect
5) Unallocated costs ________.
A) have an identifiable relationship to a cost pool
B) lack an identifiable relationship to a cost pool
C) have an identifiable relationship to a cost object
D) lack an identifiable relationship to a cost object
6) Unallocated costs ________.
A) are not recorded in the cost accounting system
B) are not allocated to cost objects
C) are direct costs for service firms
D) are indirect costs for merchandising firms
7) The manufacturing division of an electronics company uses activity-based costing. The company has identified three activities and the related cost drivers for indirect production costs.
Activity
Cost Driver
Activity 1
Direct materials cost
Activity 2
Direct labor cost
Activity 3
Kilowatt hours
Three types of products are produced. Direct costs and cost-driver activity for each product for a month are as follows:
Product A
Product B
Product C
Direct materials cost
$75,000
$50,000
$125,000
Direct labor cost
$6,000
$1,000
$3,000
Direct labor hours
1,000
500
1,500
Kilowatt hours
150,000
200,000
150,000
Indirect production costs for the month are as follows:
Activity 1
$12,000
Activity 2
20,000
Activity 3
16,000
Total
$48,000
Required:
A) Compute the indirect production costs allocated to each product using the ABC system.
B) Compute the indirect production costs allocated to each product using a traditional costing system. Assume indirect production costs are allocated to each product using the cost driver: direct labor hours.
8) Historical or past information can have an indirect bearing on a decision because ________.
A) the past can be changed
B) it can help predict the future
C) past decisions are always good decisions
D) none of the above
9) ________ is the predicted future costs and revenues that will differ among alternative courses of action.
A) Relevant information
B) Sunk costs
C) Predictable information
D) Target pricing
10) Information is relevant in business decisions if it is a(n) ________.
A) expected future cost or it diffe ...
Similar to Intro to Micro EconomicsTABLE 1U.docx (14)
Assist with first annotated bibliography. Assist with f.docxnormanibarber20063
Assist with first
annotated bibliography
.
Assist with first
annotated bibliography
.
(Thesis topic: Psychotherapy)
. Each submission must also include a brief critique of the source (e.g., how could the study be improved, criticism of the author(s) assertions, ideas for future studies, etc.).
summary of the article, including the purpose/hypothesis of the study, a statement about the participants and methods utilized in the study, results and implications for future research, as well as the methodological limitations/critique of the study.
.
Assistance needed with SQL commandsI need assistance with the quer.docxnormanibarber20063
Assistance needed with SQL commands
I need assistance with the query commands assigned to an assignment. I have the databases properly created and do not need assistance with the commands associated with creating the databases. Here is the complete assignment. I have attached the database information.
The structure of the movies database is as follows:
Director (
DIRNUB
, DIRNAME, DIRBORN, YR-DIRDIED)
STAR (
STARNUB
, STARNAME, BIRTHPLACE, STARBORN, YR-STARDIED)
MOVIE (
MVNUB
, MVTITLE, YRMDE, MVTYPE, CRIT, MPAA, NOMINATIONS, AWRD,
DIRNUB
)
MOVSTAR (
MVNUB
,
STARNUB
, AMTPAID)
MEMBER (
MMBNUB
, MMBNAME, MMBADD, MMBCITY, MMBST, NUMRENT, BONUS, JOINDATE)
TAPE (
TAPENUM,
MVNUB, PURDATE, TMSRNT,
MMBNUB
)
Create Video Store database as discussed in the class. Make sure to correct column widths/types before creating tables. Use SQL to form queries to produce the following reports
:
** List the names and numbers of directors whose names begin with the alphabet ‘K’.
List the tape no, movie title, and the membership number and name of members, who are currently borrowing tapes numbered below 20. Arrange the report in descending order by tape number.
List the names and respective numbers of stars and directors who have worked together.
** List the tape numbers for movies of movie type: ‘HORROR’.
List the name of the director who has received the maximum number of total awards considering all his/her movies: AWRD.
** List the names of all members who have not borrowed any movie currently.
List the movie type and number of tapes for each type in the database.
** For each movie list total how many times it has been rented: TMSRNT.
Report the total times rented (TMSRNT) for each movie type.
The database administrator discovers that the name of director whose number is 7 in the database should be spelt as ‘JOHNNY FORD’. Make corrections to the data.
Delete the movie number 14 and all its tapes. Print both tables to verify.
List all tape numbers and their movie titles, and indicate the member number and member name if the tape is currently rented out.
13. List all tape numbers, and also indicate the member’s city if a tape is currently rented out by a member.
14. Who is the youngest director?
How many movies did he/she direct?
15. Grant access to me (joshi) to your movstar table for select and update.
16. Create a unique index on movstar table.
17. For each movie type list the average age of movies given the current year is 2011.
18. ** Create a view MEMB_TAPES that includes the currently rented movies and the members who are renting them, include movie type.
19. ** Use the view MEMB_TAPES to find all currently rented “COMEDY” type movies and members who are renting them.
20. ** List all tape numbers, along with movie name and member name if rented out (leave member name blank if not rented out).
.
assingment Assignment Agenda Comparison Grid and Fact Sheet or .docxnormanibarber20063
assingment
Assignment: Agenda Comparison Grid and Fact Sheet or Talking Points Brief
It may seem to you that healthcare has been a national topic of debate among political leaders for as long as you can remember.
Healthcare has been a policy item and a topic of debate not only in recent times but as far back as the administration of the second U.S. president, John Adams. In 1798, Adams signed legislation requiring that 20 cents per month of a sailor’s paycheck be set aside for covering their medical bills. This represented the first major piece of U.S. healthcare legislation, and the topic of healthcare has been woven into presidential agendas and political debate ever since.
As a healthcare professional, you may be called upon to provide expertise, guidance and/or opinions on healthcare matters as they are debated for inclusion into new policy. You may also be involved in planning new organizational policy and responses to changes in legislation. For all of these reasons you should be prepared to speak to national healthcare issues making the news.
In this Assignment, you will analyze recent presidential healthcare agendas. You also will prepare a fact sheet to communicate the importance of a healthcare issue and the impact on this issue of recent or proposed policy.
To Prepare:
Review the agenda priorities of the
current/sitting U.S. president and the two previous presidential administrations.
Select an issue related to healthcare that was addressed by each of the last three U.S. presidential administrations.
Reflect on the focus of their respective agendas, including the allocation of financial resources for addressing the healthcare issue you selected.
Consider how you would communicate the importance of a healthcare issue to a legislator/policymaker or a member of their staff for inclusion on an agenda.
The Assignment: (1- to 2-page Comparison Grid, 1-Page Analysis, and 1-page Fact Sheet)
Part 1: Agenda Comparison Grid
Use the Agenda Comparison Grid Template found in the Learning Resources and complete the Part 1: Agenda Comparison Grid based on the current/sitting U.S. president and the two previous presidential administrations and their agendas related to the public health concern you selected. Be sure to address the following:
Identify and provide a brief description of the population health concern you selected and the factors that contribute to it.
Describe the administrative agenda focus related to the issue you selected.
Identify the allocations of financial and other resources that the current and two previous presidents dedicated to this issue.
Explain how each of the presidential administrations approached the issue.
Part 2: Agenda Comparison Grid Analysis
Using the information you recorded in Part 1: Agenda Comparison Grid on the template, complete the Part 2: Agenda Comparison Grid Analysis portion of the template, by addressing the following:
Which administrative agency would most likely be respons.
Assimilate the lessons learned from the dream sequences in Defense o.docxnormanibarber20063
Assimilate the lessons learned from the dream sequences in Defense of Duffer's Drift.
The Lieutenant's dream sequences help him understand his tactical problem and make decisions when faced with a new problem. The Lieutenant had virtually no knowledge of the terrain, the weather, civilians, enemy, etc. If an intelligence section had been made available to the Lieutenant, how might have he used such a staff to help him avoid the painful (and deadly) consequences of poor decision making in his dream sequences?
.
Assignmnt-500 words with 2 referencesRecognizing the fa.docxnormanibarber20063
Assignmnt:-
500 words with 2 references
Recognizing the fact usernames passwords are the weakest link in an organization’s security system because username and password are shareable, and most passwords and usernames are vulnerable and ready to be cracked with a variety of methods using adopting a record number of devices and platforms connected to the Internet of Things daily and at an alarming rate.
Provide the all-inclusive and systematic narratives of the impact of physical biometric operations on the current and future generation.
500 words with 2 references
Discussion:-
Discussion
Effective and efficient use of biometric technology will play a key role in automating method of identifying living persons based on individual physiological and behavioral characteristics.
Provide the comprehensive narratives on the advantages and disadvantages of a physical biometric system?
.
Assignmnt-700 words with 3 referencesToday, there is a crisi.docxnormanibarber20063
Assignmnt-700 words with 3 references
Today, there is a crisis about organizations’ inability to resolve the age-old problem of how to control the abuse of trust and confidence given to authorized officials to freely logon onto the organization’s system, Many such officials , turn around to betray the organization by committing cybercrimes. Vulnerability stems from interactions and communications among several system components and categorized as deficiency, weakness and security cavity on
network data center.
To what extent do internal threats constitute a key factor against any organization’s ability to battle insider threats caused by people who abuse assigned privilege?
What is the most effective mechanism for organizations to combat internal threats?
Why should disgruntled employees must be trained on the danger of throwing wastepaper and electronic media in a bin within and outside the facility?
Discussion:
400 words with 2 references
Per Fennelly (2017-182), “Why do Employees steal?” employee stealing is a multiple part operation.
Most organizations are often intolerant and impatient to verify employee’s identity and background and establish trust due to the time-consuming nature of daily assignments.
Most organizations often ignore to establish and adopt on-board ecological waste management action plans to deal with discarded materials, shredded left-over documents and magnetic media and placing fragments in isolated location.
Nonetheless, organizations must learn to support and train employers who are assigned to work and protect the organization data center, facilities and resources. Large segments of any organizations’ facility managers are often none-aggressive and choose short cuts in discharging assigned services by posting passwords on the screen and leaving confidential documents lying out on the table and uploading same document to associates, husbands, loved ones and competitors. Most authorized users within the organization are often the puniest linkage in any security operation.
Per Fennelly (2017-182), “Why do Employees steal?”
employee stealing is a multiple part operation.
Disgruntled employees can install sniffers on organizations’ data file server via polite phone calls
They can gain required user identification and password to access the organization’s secured data center.
Most organization retain an employee on the same salary for twenty years and they pay new a newly hired employee the salary of the actively existing employee.
Most organizations often ignore to establish and adopt on-board ecological waste management action plans to deal with discarded materials, shredded left-over documents and magnetic media and placing fragments in isolated location.
.
Assignment For Paper #2, you will pick two poems on a similar th.docxnormanibarber20063
Assignment:
For Paper #2, you will pick two poems on a similar theme to
compare and contrast
. Your paper will explain how the poems use some of the poetic devices we’ve been discussing to express distinct attitudes towards their common subject. It will point out the
similarities and differences
in the ways the two poems do
this
. Therefore, you will need to compare and contrast the general tones of the poems as well as how they use poetic devices to create those tones. Poetic devices you might want to consider include diction, imagery, figurative language, sound (including rhyme, alliteration, assonance, rhythm, and meter), and form.
Your
audience
for this paper is other students in the class who have read these poems. You can assume that your reader has the poems in front of him or her, so you don’t need to quote the whole poem, though a brief paraphrase might be useful. You will need to quote specific lines, phrases, or words in order to point out specific features of the poems. Your
purpose
is to help your reader see the
differences and similarities
in the two poems and, consequently, to better understand how each one works to create its particular effects or meanings.
Your paper should be
800 – 1000 words long, typed and double-spaced, with 1” margins all around
.
Use of secondary sources (other than our own textbook) is not allowed
for this assignment. If you have questions about the poem, ask other students or the instructor.
Here are some
suggested topics
:
1. Compare and contrast the ways Whitman’s “To a Locomotive in
Winter
” (p. 504) and Dickinson’s “I like to see it lap the Miles” (p. 504-05) represent their common subject: a locomotive. What claims does each poem make about the locomotive? What tone or attitude is taken towards the locomotive? How does each poem use specific poetic devices to create its tone?
2. Compare and contrast the ways Lovelace’s “To
Lucasta
” (p. 521) and Owens’ “
Dulce
et
Decorum
Est
” (p. 521-22) represent their common subject: war. What claims does each poem make about war? What tone or attitude is taken towards war? How does each poem use specific poetic devices to create its tone?
3. Compare and contrast the ways
any two
love poems in our reading represent their common subject. What claims does each poem make about love? What tone or attitude is taken towards love? How does each poem use specific poetic devices to create its tone? (Please check the two poems you pick with the instructor before proceeding.)
4. Compare and contrast the ways
any two
of the following poems represent God:
·
Donne’s “Batter my Heart, Three-
Personed
God” (p. 531),
·
Hopkins’ “God’s Grandeur” (p. 624),
·
Herbert’s “Easter Wings” (p. 676),
·
Blake’s “The
Tyger
” (p. 824-25).
What claims does each poem make about God? What tone or attitude is taken towards God? How does each poem use specific poetic devices to create its tone?
5. Compare and contrast the ways.
Assignment Write an essay comparingcontrasting two thingspeople.docxnormanibarber20063
Assignment:
Write an essay comparing/contrasting two things/people/places/ideas, etc. This should not simply be a list of their similarities and differences, but a cohesive essay written in paragraph form with a thesis, introduction, body, and conclusion.
Remember, a compare/contrast thesis can be formulated in one of the following ways:
1) One thing is better than another
2) Two things that seem to be similar are actually different
3) Two things that seem different are actually similar
Parameters:
*Typed
*Double-Spaced
*Times New Roman
*12 Point Font
*1 Inch Margin
*3 pages (not even a word shorter)
*2 outside sources
.
Assignment Travel Journal to Points of Interest from the Early Midd.docxnormanibarber20063
Assignment :Travel Journal to Points of Interest from the Early Middle Ages, Romanesque, and Gothic World
Travel Journal to Points of Interest from the Early Middle Ages, Romanesque, and Gothic World
Travel was one of the social characteristics that helped shape the Early Middle Ages and the Romanesque period—either to the Middle East to fight in the Crusades or throughout Europe as part of extensive pilgrimages.
For this assignment, put yourself in the place of a person living during this time who traveled extensively throughout Europe by selecting six pieces of art or architecture that you found personally to be the most interesting and important examples that date from this period in history. You should have 2 examples from each of the time periods specific to the Middle Ages: two examples from the Early Middle ages, two that represent the Romanesque, and two that represent Gothic art.
Your objects need to date between 400 CE and 1300 CE—the time span that encompasses the Early Middle Ages, Romanesque, and Gothic periods.
You are going to create a travel journal and itinerary for other students who will travel with you to your points of interest. Create a PowerPoint presentation of seven slides, including an introduction, your five destinations, and a conclusion. On each slide, include the image of the artwork or architecture, and the following information about the image:
Its location
Its name
The period of time it was created
Three interesting points about the artwork/building
What people viewing the image could learn about the Early Middle Ages, the Romanesque period, or Gothic art and architecture.
Why you selected this image
THIS MUST BE FOLLOWED
Assignment 2 Grading Criteria
Maximum Points
Selected two images representative of the early Middle Ages style, from between 400 CE and 1000 CE.
10
Provided location, name, and period of time created for the early Middle Ages images.
12
Explained why you selected each early Middle Ages image, and offered three interesting points about each image and what people could learn from viewing each image.
15
Selected two images representative of the Romanesque style, from between 1000 CE and 1100 CE.
10
Provided location, name, and period of time created for the Romanesque style images.
12
Explained why you selected each Romanesque style image, and offered three interesting points about each image and what people could learn from viewing each image.
15
Selected two images representative of the Gothic style, from between 1100 CE and 1300 CE.
10
Provided location, name, and period of time created for the Gothic style images.
12
Explained why you selected each Gothic style image, and offered three interesting points about each image and what people could learn from viewing each image.
15
The PowerPoint presentation meets length requirements and contains correct spelling and grammar.
.
Assignment What are the factors that influence the selection of .docxnormanibarber20063
Assignment
What are the factors that influence the selection of access control software and/ or hardware? Discuss all aspects of access control systems.
DQ requirement:
initial posting to be between 200-to-300 words.
All initial posts must contain a properly formatted in-text citation and scholarly reference.
Reply post 100-to-150 words.
No plagarism
.
Assignment Write a research paper that contains the following.docxnormanibarber20063
Assignment:
Write a research paper that contains the following:
Discuss the visual assets such as charts, interactive controls, and annotations that will occupy space in your work.
Discuss the best way to use space in terms of position, size, and shape of every visible property.
Data representation techniques that display overlapping connections also introduce the need to contemplate value sorting in the z-dimension, discuss which connections will be above and which will be below and why. Show example using any chart or diagram of your choice.
Your research paper should be at least 3 pages (800 words) excluding cover page and reference page. It should be double-spaced, have at least 2 APA references, and typed in Times New Roman 12 font. Include a cover page and a table of content.
.
Assignment Talk to friends, family, potential beneficiaries abou.docxnormanibarber20063
Assignment
Talk to friends, family, potential beneficiaries about your idea. Do they agree that you deeply understand what the proposed beneficiaries are doing currently to manage/endure their problem? Explain. What are your proposed beneficiaries doing currently to manage/endure their problem? How would you get buy-in from others to sign on to your proposed Beneficiary Experience table (reference Chapter 4)? Include research to support your social entrepreneurship idea.
Minimum 2 pages
Minimum 2 scholarly sources
APA formatted
.
Assignment The objective of assignment is to provide a Power .docxnormanibarber20063
Assignment:
The objective of assignment is to provide a
Power Point Presentation
about
all vaccines including the Flu vaccine in the pediatric population
. Your primary goal as a
Family Nurse Practitioner
is to educate parents about the importance of vaccination and understanding their beliefs and preference by being cultural sensitive in regards this controversial topic. This is an individual presentation and must include
a minimum of 8 slides with a maximum of 10 slides
.
This presentation must include a “Voice Presentation”. Please, this part includes
as a note in each slide
, so I can read it. Thank you.
and the following headings:
*Voice attached in all slides. Please use notes, so I can read it.
ALL REFERENCES FROM USA and within 5 years.
1.
Introduction
(Clearly identifies the topic and Establishes goals and objectives of presentation)
2.
Clinical Guidelines Evidence Based Practice per CDC
– (Presents an insightful and through analysis of the issue (s) identified. Excellent Clinical guidelines)
3.
Population and Risk Factors
(The population is identified and addressed as well the topic(s) and issue(s)
4.
Body and Content
: (Makes appropriate and powerful connections between the issue(s) identified and the concept(s) studied. Very creative and Supports the information with strong arguments and evidence.
5.
Education
– (Presents detailed, realistic, and appropriate recommendations and education including parents/patients)
6.
Conclusion
. Excellent Conclusion clearly supported by the information presented
.
Assignment During the on-ground, residency portion of Skill.docxnormanibarber20063
Assignment:
During the on-ground, residency portion of Skills Lab II, you will have attended sessions covering topics relevant to advanced clinical social work practice. During Skills Lab II, you join with a group of three to four students to present a clinical case. You will create your own case—this case will be a situation you have faced in practice or one you create. During the presentation, you and each group member are expected to demonstrate knowledge, awareness, and skills appropriate to a concentration-year master’s student.
The presentation should include the following:
· The identification of the individual/family or group with background information including:
o Presenting problem or concern
o History of the presenting problem
o Social history
o Family history
o Previous interventions
· Your assessment of the client/family/group
· Your engagement of the client/family/group
o Specify the specific social work practice skills that were or would be used in your engagement.
This is the right up about this project
Tiffany, a 17-year-old African American female resides in Huston Texas with her mother (48 years old) and 2 brothers (20 years old and 10 years old). Tiffany was raised by her mother. Her father went to prison for selling drugs when Tiffany was 5 years old. Tiffany has been having trouble sleeping, her grades have dropped, she is no longer interested in sports or her after school club activities. Tiffany is also afraid to go outside and she does not want to leave her mother’s side. Tiffany reports she gets nervous and has heart palpitations when she sees a police car or hears police sirens. Tiffany’s mother is concerned about the sudden change of behavior in her daughter and thus, took her in to see a therapist.
Tiffany was very active in school. She had good grades, active in sports and after school clubs. The teachers spoke very highly of Tiffany, however, expressed concerns to her mother when they noticed a change in her grades. Additionally, the school staff noticed Tiffany withdrawing from her friends appeared to be isolating herself from others. Tiffany and her family were active within their church community. Tiffany and her family live in a low-income community. Tiffany’s mother does work full time, however, she still receives SNAP and Medicaid services. They also live in Section 8 housing. Tiffany lives in a community with a high crime rate. She often witnesses and hears stories of police brutality. Tiffany’s mother had to explain to her children how to respond to a police officer with they are ever stopped. Tiffany’s other brother has a history of police involvement.
.
Assignment PurposeThe first part of this assignment will assist.docxnormanibarber20063
Assignment Purpose:
The first part of this assignment will assist you in identifying a topic which you will work with for subsequent activities in the course. The second part of the assignment helps you articulate what constitutes plagiarism.
Part 1:
In this course you will be using a variety of resources and research tools. This activity will guide you in formulating a topic to use for later assignments in this course.
1. What is something you are curious about? What is something you see out in the world that you want to know more about? Perhaps think of health, business, or socio-cultural issues. Write it here:
_______________________________________________________________________
(Need help selecting a topic? Review the Research Topic Starting Points for EN 104, EN 106, EN 111, and EN 116 guide from the Herzing University Library. Browse some of the resources linked there for generating topic ideas. http://herzing.libguides.com/research_topic_starting_points)
2. Create a Mind Map for your topic in the Credo Reference Database available through the Herzing University Library. You can access the link to that database and view a brief tutorial in the Research Topics Starting Points guide at http://herzing.libguides.com/research_topic_starting_pointsIf you need assistance using this tool, contact the Herzing University Librarians using the contact information in that guide. You might need to play around with how you word your topic.
Did the Mind Map help you narrow your topic? Describe your experience with the Mind Map feature and indicate your narrowed topic:
3. Write at least three research questions related to your topic and circle or somehow indicate the one you are most interested in answering:
4. Create a thesis statement for your research project. Be sure it meets the characteristics of a “strong” thesis statement as described in the reading for this unit.
Characteristics of a Strong Thesis Statement
· Answers the research question and is adequate for the assignment.
· Takes a position – doesn’t just state facts.
· It is specific and provable.
· It passes the “so what?” test.
Include your thesis statement here:
Part 2:
The following paragraph is from this source:Spiranec, S., &Mihaela, B. Z. (2010). Information literacy 2.0: Hype or discourse refinement? Journal of Documentation, 66(1), 140-153. doi:http://dx.doi.org.prx-herzing.lirn.net/10.1108/00220411011016407
Web 2.0 is currently changing what it means to be an information literate person or community…. The erosion did not begin with Web 2.0 but had started considerably earlier and became evident with the first web document without an identifiable author or indication of origin. Generally, this erosion comes naturally with the advancement towards electronic environments. In the era of print culture the information context was based on textual permanence, unity and identifiable authorship, and was therefore stable. The appearance of Web 1.0 has already undermined .
Assignment PowerPoint Based on what you have learned so .docxnormanibarber20063
Assignment:
PowerPoint:
Based on what you have learned so far in this course, create a PowerPoint presentation that addresses each of the following points. Be sure to completely answer all the questions for each bullet point. Use clear headings that allow your professor to know which bullet you are addressing on the slides in your presentation. Support your content with at least four (4) citations throughout your presentation. Make sure to reference the citations using the APA writing style for the presentation. Include a slide for your references at the end. Follow best practices for PowerPoint presentations related to text size, color, images, effects, wordiness, and multimedia enhancements.
Title Slide (1 slide)
At each stage of development, culture can have a distinct impact on basic aspects of life. Based on your reading thus far, describe how cultural influences impact development throughout the lifespan. Include the following aspects of life:
Cognition (2-3 slides)
Acceptance of cultural traditions (2-3 slides)
Biological health (2-3 slides)
Personality(2-3 slides)
Relationships (2-3 slides)
References (1 slide)
Each slide should have a graphic and very few words. In a separate Word file, create a script to use when giving this presentation (about 50 words per content slide - 500 words total). Submit both files to the dropbox.
.
Assignment In essay format, please answer the following quest.docxnormanibarber20063
Assignment: In essay format, please answer the following questions:
On your second In-Class Assignment, which was on John Stuart Mill's freedom of thought and discussion, you were asked to provide your own opinion on any moral issue.
1) Your task is to write an essay
DEFENDING
the
the OPPOSITE opinion.
2) Please structure your essay in the following format: (SEE ATTACHED FILE FOR MORE DETAILS ON WHAT EACH OF THESE MEAN)
I. Introduction/Thesis Statement
II. Body - Include at least two reasons why one would support this position
III. Counter-Argument - What is the argument against that position?
IV. Reply to Counter-Argument - Why could the counter-argument be wrong?
V. Conclusion
.
Assignment Name:
Unit 2 Discussion Board
Deliverable Length:
150-500 words (not including references) 2 Peer Responses
Details:
The Discussion Board (DB) is part of the core of online learning. Classroom discussion in an online environment requires the active participation of students and the instructor to create robust interaction and dialogue. Every student is expected to create an original response to the open-ended DB question as well as engage in dialogue by responding to posts created by others throughout the week. At the end of each unit, DB participation will be assessed based on both level of engagement and the quality of the contribution to the discussion.
At a minimum, each student will be expected to post an original and thoughtful response to the DB question and contribute to the weekly dialogue by responding to at least two other posts from students. The first contribution must be posted before midnight (Central Time) on Wednesday of each week. Two additional responses are required after Wednesday of each week. Students are highly encouraged to engage on the Discussion Board early and often, as that is the primary way the university tracks class attendance and participation.
The purpose of the Discussion Board is to allow students to learn through sharing ideas and experiences as they relate to course content and the DB question. Because it is not possible to engage in two-way dialogue after a conversation has ended, no posts to the DB will be accepted after the end of each unit.
A. Questions for weekly discussions and conversations (not part of the required Discussion Board assignment)
These questions can serve as the starting point for your discussions during the week. They are “thought starters,” so that you can explore some ideas associated with the discussion board and unit topics. Answers are not required, and should not be submitted with your required assignment. Answers are not graded.
1. What images do we use today that originated from creations by early civilizations for religious ceremonies?
2. What historical art images do we use today, from creations by early civilizations, for cultural celebrations?
B. Required Discussion Board assignment.
From the list below, choose one Greek work of art and one Roman work of art and
compare and contrast
them according to the criteria listed:
Greek Art
Roman Art
The
Doryphoros
(Polykleitos, 450 BCE)
Augustus of Primaporta
(c. 20 BCE)
The Laocoon Group
(1
st
Century, CE)
Marcus Agrippa with Imperial Family
(South frieze from the Ara Pacis, 13-9 CE)
Nike of Samothrace
(c. 190 BCE)
She-Wolf
(c. 500 BCE)
The Temple of Athena
(427–424 BCE)
The Colosseum
(72–80 CE)
The Parthenon
(447–438 BCE)
The Arch of Constantine
(313 CE)
Answer the following list of questions in a comparative essay to evaluate your choices. Be sure to introduce the works you have chosen.
What is the FORM of the work?
Is it a two-dimensional or three-dimensional work of art?
What materials are us.
Assignment In essay format, please answer the following questions.docxnormanibarber20063
Assignment: In essay format, please answer the following questions:
1) Briefly summarize Stirner's Egoism.
2) Look at some contemporary moral issues in the news, either current or past, and apply his Egoist theory to the issue. How would he view the issue?
3) Do you agree with the way Stirner would view the issue? Why or why not?
All together, the answers must total up to about 500-700 words. Assignments
MUST
have the following format: Name, Class, and Essay Subject & Date in the upper left hand corner.
Double Spaced
, 12pt Times New Roman or Arial font. If you use outside sources, it must include a works cited page.
.
A Free 200-Page eBook ~ Brain and Mind Exercise.pptxOH TEIK BIN
(A Free eBook comprising 3 Sets of Presentation of a selection of Puzzles, Brain Teasers and Thinking Problems to exercise both the mind and the Right and Left Brain. To help keep the mind and brain fit and healthy. Good for both the young and old alike.
Answers are given for all the puzzles and problems.)
With Metta,
Bro. Oh Teik Bin 🙏🤓🤔🥰
CapTechTalks Webinar Slides June 2024 Donovan Wright.pptxCapitolTechU
Slides from a Capitol Technology University webinar held June 20, 2024. The webinar featured Dr. Donovan Wright, presenting on the Department of Defense Digital Transformation.
Level 3 NCEA - NZ: A Nation In the Making 1872 - 1900 SML.pptHenry Hollis
The History of NZ 1870-1900.
Making of a Nation.
From the NZ Wars to Liberals,
Richard Seddon, George Grey,
Social Laboratory, New Zealand,
Confiscations, Kotahitanga, Kingitanga, Parliament, Suffrage, Repudiation, Economic Change, Agriculture, Gold Mining, Timber, Flax, Sheep, Dairying,
How to Manage Reception Report in Odoo 17Celine George
A business may deal with both sales and purchases occasionally. They buy things from vendors and then sell them to their customers. Such dealings can be confusing at times. Because multiple clients may inquire about the same product at the same time, after purchasing those products, customers must be assigned to them. Odoo has a tool called Reception Report that can be used to complete this assignment. By enabling this, a reception report comes automatically after confirming a receipt, from which we can assign products to orders.
Temple of Asclepius in Thrace. Excavation resultsKrassimira Luka
The temple and the sanctuary around were dedicated to Asklepios Zmidrenus. This name has been known since 1875 when an inscription dedicated to him was discovered in Rome. The inscription is dated in 227 AD and was left by soldiers originating from the city of Philippopolis (modern Plovdiv).
A Visual Guide to 1 Samuel | A Tale of Two HeartsSteve Thomason
These slides walk through the story of 1 Samuel. Samuel is the last judge of Israel. The people reject God and want a king. Saul is anointed as the first king, but he is not a good king. David, the shepherd boy is anointed and Saul is envious of him. David shows honor while Saul continues to self destruct.
This document provides an overview of wound healing, its functions, stages, mechanisms, factors affecting it, and complications.
A wound is a break in the integrity of the skin or tissues, which may be associated with disruption of the structure and function.
Healing is the body’s response to injury in an attempt to restore normal structure and functions.
Healing can occur in two ways: Regeneration and Repair
There are 4 phases of wound healing: hemostasis, inflammation, proliferation, and remodeling. This document also describes the mechanism of wound healing. Factors that affect healing include infection, uncontrolled diabetes, poor nutrition, age, anemia, the presence of foreign bodies, etc.
Complications of wound healing like infection, hyperpigmentation of scar, contractures, and keloid formation.
3. 20
_____
Questions 1-4 are based on the table 1 above
1. What is Average Product from the 1-6 workers?
a. 0,1,2,3,4,5,6,
b. 1,2,3,4,56,7
c. 3,4,5,5,4.6,3.3
d. 3,8,15,20,23,20
2. What is Marginal Product from the 1-6 workers?
a. 0,3,4,5,5,4.6,3.3
b. 0,1,2,3,4,5,6,
c. 3,8,15,20,23,20
d. 3,5,7,5,3,-3
3. When Marginal product is greater than average product,
average product is …
a. Rising
b. Constant
c. Falling
d. Cannot determine
4. When marginal product is less than average product, average
product is..
a. Rising
b. Constant
c. Falling
d. Cannot determine
TABLE 2
Output Per Day
TFC
TVC
8. a. 80
b. 0
c. 100
d. 110
6. What is ATC for the first worker
a. 80
b. 110
c. 190
d. 0
7. At the 5th unit of production ATC is?
a. 350
b. 70
c. 80
d. 100
8. At the 6th unit of production ATC is?
a. 350
b. 70
c. 80
d. 100
9. When output Increase from 5 to 6, Marginal Cost is?
a. 70
b. 80
c. 100
d. 0
10. When output Increase from 0 to 1, Marginal Cost is?
a. 0
b. 80
c. 110
9. d. Cannot be determined
11. What is AVC for the last unit produced?
a. 72.5
b. 80
c. 0
d. 82.5
12. What is the most efficient level of production?
a. 1-2 units
b. 2-3 units
c. 3-4 units
d. 5-6 units
13. Implicit Costs:
a. Are utilized by accountants to calculate total expenses
b. Are regarded as costs by accountants and by economists
c. Plus explicit costs are equal to economic costs
d. Are an expenditure cost
14. Cash expenditures a firm makes to pay for resources are
called:
a. Implicit costs
b. Explicit costs
c. Normal profit
d. Opportunity costs
15. Suppose that you could either prepare your own tax return
in 15 hours, or hire a tax specialist to prepare it for you in 2
hours. You value your time at $11.00 an hour; the tax specialist
will charge you $55 an hour. The opportunity cost of preparing
your own tax return is:
a. $40
10. b. $55
c. $22
d. $165
16. Marginal product of labor refers to the
a. Last unit of output produced by labor at the end of each
period
b. Increase in output resulting from employing one more unit of
labor
c. Total output divided by the number of labor employed
d. Smallest unit of the output produced by labor
17. According to the law of diminishing marginal returns:
a. Output will fall and then rise as additional units of input are
employed
b. Employing additional inputs will diminish total output
c. The additional output generated by additional units of an
input will diminish
d. The additional inputs necessary to produce an additional unit
of output will diminish
18. The total product curve graphically shows the:
a. Minimum level of output that can be produced by a quantity
of a variable resource holding constant the quantity of other
resources
b. Minimum level of output that can be produced by a quantity
of a fixed resource letting other resources vary
c. Maximum level of output that can be produced by a quantity
of a fixed resource letting other resources vary
d. Maximum level of output that can be produced by a quantity
of a variable resource holding constant the quantity of other
resources
19. When the total product curve is falling, the:
11. a. Marginal product of labor is zero
b. Marginal product of labor is negative
c. Average product of labor is increasing
d. Average product of labor must be negative
20. Over the range of positive, but diminishing, marginal
returns for an input, the total product curve:
a. Falls
b. Rises at a constant rate
c. Rises at a decreasing rate
d. Rises at an increasing rate
21. Refer to the above table. With the addition of the second
unit of input, the marginal product is:
a. 15 and the average product is 20
b. 25 and the average product is 10
c. 15 and the average product is 10
d. 10 and the average product is 15
22. Refer to the above table. Diminishing marginal returns sets
in with the addition of the:
a. First unit of input
b. Second unit of input
c. Third unit of input
d. Fourth unit of input
12. 23. Refer to the above graph showing the marginal product
(MPL) and the average product of labor (APL). At which
quantity of labor employed does diminishing marginal returns
set in?
a. A
b. B
c. C
d. D
24. Refer to the above graph showing the marginal product
(MPL) and the average product of labor (APL). At which
quantity of labor employed is total product maximized?
a. A
b. B
c. C
d. D
25. Refer to the above graph. It shows the total product (TP)
curve. At which point does diminishing marginal returns set in?
a. Point a
b. Point b
c. Point c
d. Point d
26. Refer to the above table. With diminishing marginal returns,
13. if the firm hires seven units of labor, which of the following
numbers would most probably be the total product?
a. 40
b. 39
c. 38
d. 37
27. Variable costs are
a. Sunk costs
b. Costs that change every day
c. Costs that change with the level of production
d. The change in total cost due to the production of an
additional unit of output
28. Fixed costs are those costs which are:
a. Zero if the firm produces no output in the short run
b. Unchanging through time
c. Independent of the rate of output
d. Implicit to a competitive firm
29. Refer to the above graph of cost curves. Total fixed cost at
output level Q2 is measured by:
a. 0B
b. AC
c. CD
d. DE
30. At any level of output:
14. a. Average variable cost will exceed average total cost in the
short run
b. Marginal cost will exceed average variable cost by the level
of average fixed cost
c. Average variable cost will exceed average fixed cost by the
level of average total cost
d. Average total cost will exceed average variable cost by the
level of average fixed cost
31. Marginal cost can be defined as the:
a. Change in total fixed cost resulting from one more unit of
production
b. Change in total cost resulting from one more unit of
production
c. Change in average total cost resulting from one more unit of
production
d. Change in average variable cost resulting from one more unit
of production
32. Which market model assumes the least number of firms in
an industry?
a. Monopolistic competition
b. Pure competition
c. Pure monopoly
d. Oligopoly
33. Mutual interdependence would tend to limit control over
price in which market model?
a. Monopolistic competition
b. Pure competition
c. Pure monopoly
d. Oligopoly
15. 34. In which two market models would advertising be used most
often?
a. Pure competition and monopolistic competition
b. Pure competition and pure monopoly
c. Monopolistic competition and oligopoly
d. Pure monopoly and oligopoly
35. The fast-food restaurant industry would be an example of
which market model?
a. Monopolistic competition
b. Pure competition
c. Pure monopoly
d. Oligopoly
36. Which of the following is true under conditions of pure
competition?
a. There are differentiated products
b. The market demand curve is perfectly elastic
c. No single firm can influence the market price by changing its
output
d. Each individual firm has the ability to set its own price
37. A purely competitive firm does not try to sell more of its
product by lowering its price below the market price because:
a. Its competitors would not permit it
b. It can sell all it wants to at the market price
c. This would be considered unethical price chiseling
d. Its demand curve is inelastic, so total revenue will decline
38. Average revenue and marginal revenue are equal at each
16. output level in:
a. Pure competition
b. Monopolistic competition
c. Monopoly
d. Oligopoly
39. In pure competition, each extra unit of output that a firm
sells will yield a marginal revenue that is:
a. Equal to the price
b. Less than the price
c. Greater than the price
d. Equal to the average cost
40. In the standard model of pure competition, a profit-
maximizing firm will shut down in the short run if:
a. Marginal cost is greater than average revenue
b. Average total cost is greater than average revenue
c. Average Fixed cost is greater than average revenue
d. Total revenue is less than total variable cost
41. Given the table above, what is the short-run profit-
maximizing level of output for the firm?
a. 2 units
b. 3 units
c. 4 units
d. 5 units
42. Refer to the above graph for a purely competitive firm in the
short run. The firm would suffer losses if it operates at which of
the following range of output?
a. 0A
17. b. AB
c. BC
d. Any level below C
43. Refer to the above graph for a purely competitive firm in the
short run. What minimum output level should the firm produce
just for it to break even?
a. A
b. B
c. C
d. Greater than C
44. Refer to the above table. If the firm shuts down in the short
run, the total cost will be:
a. $1,350
b. $2,500
c. $2,700
d. $3,100
45. At what quantity would a purely competitive firm cover all
of its costs and earn only normal profits?
a. Q=5
b. Q=10
c. Q=15
d. Q=20
46. Let us suppose Harry's, a local supplier of chili and pizza,
18. has the following revenue and cost structure:
a. Harry's should stay open in the long run
b. Harry's should shut down in the short run
c. Harry's should stay open in the short run
d. Harry's should shut down in the short run but reopen in the
long run
47. Refer to the above graph. Which of the output levels is the
profit-maximizing output level for this firm?
a. Q1
b. Q2
c. Q3
d. Q4
48. Refer to the above table for a purely competitive firm. The
market price of the product in the short run is:
a. $40
b. $80
c. $120
d. $160
49. A profit-maximizing firm in the short run will expand
output:
a. Until marginal cost begins to rise
b. Until total revenue equals total cost
c. Until marginal cost equals average variable cost
19. d. As long as marginal revenue is greater than marginal cost
50. A firm sells a product in a purely competitive market. The
marginal cost of the product at the current output is $4.00 and
the market price is $4.50. What should the firm do?
a. Shut down if the minimum possible average variable cost is
below $4.50
b. Decrease output if the minimum possible average variable
cost is below $4.50
c. Increase output if the minimum possible average variable cost
is below $4.50
d. Decrease output if the minimum possible average variable
cost is above $4.50
51. T-Shirt Enterprises is selling in a purely competitive
market. It is producing 3000 units, selling them for $2.00 each.
At this level of output, the average total cost is 2.50 and the
average variable cost is $2.20. Based on these data, the firm
should:
a. Shut down in the short run
b. Decrease output to 2500 units
c. Continue to produce 3000 units
d. Increase output to 3500 units
52. All of the following statements apply to a purely
competitive market in the long run, except:
a. In the long run, all inputs are variable in quantity
b. Firms can expand their plant capacities in the long run
c. Total fixed costs remain constant even when output expands
in the long run
d. Firms may enter or leave the industry in the long run.
53. If a purely competitive firm is currently facing a situation
where the price of its product is lower than the average variable
cost, but it believes that the market demand for its product will
20. increase soon, then:
a. The firm will produce a low level of output in the short run,
and leave the industry in the long run
b. The firm will shut down in the short run, and leave the
industry in the long run
c. The firm will produce a low level of output in the short run,
but expand its plant in the long run as demand increases soon
d. The firm will shut down in the short run, but stay in the
industry in the long run if it expects the product price to rise
high enough soon
54. Refer to the graphs above for a purely competitive market in
the short run. The graphs suggest that in the long run, assuming
no changes in the given information:
a. Some firms will exit from this industry
b. More buyers will come to the market
c. New firms will be attracted into the industry
d. Buyers will leave the industry
55. Refer to the graphs above for a purely competitive market in
the short run. The graphs suggest that in the long run, as
automatic market adjustments occur, the demand curve facing
the individual firm will:
a. Shift up
b. Shift down
c. Not shift
d. Slope downward
21. 56. Refer to the above graphs for a competitive market in the
short run. Which of the following statements is true?
a. The firm will increase production
b. The firm is experiencing economic losses
c. The firm is breaking even
d. The firm is making economic profits
57. The long-run supply curve (Resource Cost Industry) would
be upward-sloping if:
a. Resource prices fall as industry production contracts
b. Resource prices rise as industry production contracts
c. Resource prices are not affected by changes in industry
output-level
d. Resource prices are set by the government
58. The long-run market supply curve for a (Resource cost
industry) would be downward-sloping if the representative
firms:
a. Demand curves shift up as the industry expands
b. ATC curves shift down as the industry expands
c. Supply curves shift left as the industry expands
d. Demand curves shift down as the industry expands
59. Which of the following is a barrier to entry?
a. Patents and licenses
b. Buyers' incomes
c. Close substitutes
d. Diminishing marginal returns
60. A monopoly is most likely to emerge and be sustained when:
a. Output demand is relatively elastic
b. Firms have U-shaped, average-total-cost curves
22. c. Fixed capital costs are small relative to total costs
d. Economies of scale are large relative to market demand
61. The region of demand in which the monopolist will choose a
price-output combination will be:
a. Inelastic because as price declines and output increases, total
revenue will increase
b. Inelastic because as price declines and output increases, total
revenue will decrease
c. Elastic because as price declines and output increases, total
revenue will decrease
d. Elastic because as price declines and output increases, total
revenue will increase
62. Refer to the above graph showing the revenue curves for a
monopolist. What price should be charged in order to maximize
total revenue?
a. P1
b. P2
c. P3
d. P4
63. Refer to the above graph. When the total revenue curve
reaches a maximum, marginal revenue is:
a. Positive
b. Negative
c. Zero
d. Greater than price at that level of output
23. 64. The table shows the demand schedule facing Nina, a
monopolist sell. Refer to the above table for Nina. What is the
change in total revenue if she lowers the price from $20 to $18?
a. $10
b. $20
c. $30
d. $40
65. The table shows the demand schedule facing Nina, a
monopolist selling baskets. Refer to the above table for Nina.
What is the change in total revenue if she raises the price from
$10 to $12?
a. -$300
b. +$300
c. +$120
d. -$120
66. Which of the above shows the correct relationship between
demand and marginal revenue?
a. A
b. B
c. C
d. D
24. 67. A monopolist can sell 20 toys per day for $8.00 each. To
sell 21 toys per day, the price must be cut to $7.00. The
marginal revenue of the 21st toy is:
a. -$10
b. -$13
c. +$7
d. +$21
68. Many people believe that monopolies charge any price they
want to without affecting sales. Instead, the output level for a
profit-maximizing monopoly is determined by:
a. Marginal cost = average revenue
b. Marginal revenue = average cost
c. Average total cost = average revenue
d. Marginal cost = marginal revenue
69. Suppose that a monopolist calculates that at its present
output level, marginal cost is $4.00 and marginal revenue is
$5.00. The firm could increase profits by:
a. Decreasing price and increasing output
b. Increasing price and decreasing output
c. Decreasing price and leaving output unchanged
d. Decreasing output and leaving prices unchanged
70. The data above relate to a pure monopolist and the product
it produces. What is the profit-maximizing output and price for
this monopolist?
a. P = $12; Q = 5
b. P = $14; Q = 4
c. P = $15; Q = 3
25. d. P = $18; Q = 2
71. Refer to the above graph for a profit-maximizing
monopolist. The firm will set its price at:
a. 0J
b. 0G
c. 0K
d. 0H
72. Refer to the above graph for a profit-maximizing
monopolist. The firm will produce the quantity:
a. 0V
b. 0Y
c. 0T
d. 0X
73. Refer to the above graph for a profit-maximizing
monopolist. At equilibrium, the firm will be earning:
a. Positive profits
b. Negative profits
c. Zero profits
d. Profits that cannot be determined from the given graph
74. Pure monopolists:
a. Maximize MR
26. b. Are price takers
c. Operate where P > MC
d. Face demand curves that are perfectly inelastic
75. The following data show the relationship between output,
total costs, and total revenue for a pure monopoly. Within
which of the following ranges of output will the firm earn
maximum economic profits?
a. 50 to 60 units
b. 60 to 70 units
c. 70 to 80 units
d. 80 to 90 units
76. Many economists agree that government should deal with
monopolists on a case-by-case basis. Policy options include the
following, except:
a. If the monopoly is attained and maintained through
anticompetitive behavior, the government can file a suit based
on antitrust laws
b. If the firm is a natural monopoly, the government may decide
to regulate its prices and operations
c. If the monopoly is maximizing economic profits, the
government should subsidize new firms to enter the industry
d. If the monopoly is subject, and vulnerable, to potential
competition, the government can decide to leave it alone
77. The economic incentive for price discrimination is based
upon:
a. Prejudices of business managers
b. Differences among sellers' costs
c. A desire to evade antitrust legislation
d. Differences among buyers' elasticity’s of demand
27. 78. To practice long-run price discrimination, a monopolist
must:
a. Be a natural monopoly
b. Charge one price to all buyers
c. Permit the resale of the product by the original buyers
d. Be able to separate buyers into different markets with
different price elasticity’s
79. Which case below best represents a case of price
discrimination?
a. An insurance company offers discounts to safe drivers
b. A major airline sells tickets to senior citizens at lower prices
than to other passengers
c. A professional baseball team pays two players with identical
batting averages different salaries
d. A utility company charges less for electricity used during
"off-peak" hours, when it does not have to operate its less-
efficient generating plants
80. A monopolistically competitive industry is like a purely
competitive industry in that:
a. Each industry produces a standardized product
b. Non-price competition is a feature in both industries
c. Neither industry has significant barriers to entry
d. Firms in both industries face a horizontal demand curve
81. Monopolistic competition is characterized by firms:
a. Producing differentiated products
b. Making economic profits in the long run
c. Producing at optimal productive efficiency
d. Producing where price equals marginal cost
28. 82. One difference between monopolistic competition and pure
competition is that:
a. Products may be homogeneous in monopolistic competition
b. There is some control over price in monopolistic competition
c. Monopolistic competition has significant barriers to entry
d. Firms differentiate their products in pure competition
83. Which of the following is a measure of the degree of
industry concentration?
a. Dow Jones Industrial Index
b. Herfindahl Index
c. Employment Cost Index
d. S&P-500 Index
84. The graph depicts a monopolistically competitive firm.
a. $55 and produce 45 units of output
b. $65 and produce 35 units of output
c. $50 and produce 35 units of output
d. $52 and produce 50 units of output
85. Refer to the above graph. At the profit-maximizing level of
short-run output, this monopolistically competitive firm will be
making a profit of:
a. $275
b. $350
c. $500
d. $525
86. Refer to the above graph. This monopolistically competitive
firm is earning economic profits in the short run and
a. Will continue to have economic profits in the long run
b. Will earn only normal profits in the long run
29. c. This will cause its demand curve to shift to the right in the
long run
d. This will cause its cost curves to rise in the long run
87. A monopolistically competitive firm is operating at a short-
run level of output where price is $21, average total cost is $15,
marginal cost is $13, and marginal revenue is $13. In the short
run this firm should:
a. Reduce product price
b. Increase the level of output
c. Decrease the level of output
d. Make no change in the level of output
88. Answer the question based on the demand and cost
schedules for a monopolistically competitive firm above. What
output quantity will the monopolistically competitive firm
produce to maximize profits?
a. 2
b. 3
c. 5
d. 6
89. Refer to the above table. At the profit-maximizing level of
output, marginal revenue is:
a. $0
b. $4
c. $5
d. $8
30. 90. Refer to the above graphs. A short-run equilibrium that
would produce profits for a monopolistically competitive firm
would be represented by graph:
a. A
b. B
c. C
d. D
91. You are told that the four-firm concentration ratio in an
industry is 20. Based on this information you can conclude that:
a. Each of the top four firms has 20 percent of industry sales
b. The four largest firms account for a combined 80 percent of
the industry sales
c. The four largest firms account for 20 percent of industry
sales
d. Each of the four largest firms accounts for 5 percent of
industry sales
92. Industry Y is dominated by five large firms that hold market
shares of 20, 25, 15, 10, and 25 percent. The four-firm
concentration ratio for this industry is:
a. 70 percent
b. 80 percent
c. 85 percent
d. 90 percent
93. One major problem with concentration ratios is that they fail
to take into account:
a. The localized market for products
b. Excess capacity in production
c. Price leadership
d. Mutual interdependence
31. 94. When firms in an industry reach an agreement to fix prices,
divide up market share, or otherwise restrict competition, they
are practicing the strategy of:
a. Inter-industry competition
b. Limit pricing
c. Price leadership
d. Collusion
95. The kinked demand model of oligopoly assumes that:
a. Rivals will ignore price increases but will match price cuts
b. Rivals will ignore price cuts but will match price increases
c. The oligopolistic firms are colluding
d. A firm faces a more elastic demand curve if it cuts its price,
and less elastic if it raises price
96. A major prediction of the kinked demand curve model is:
a. Price stability in oligopolies
b. Price instability in oligopolies
c. Stability of production costs in oligopolies
d. Instability of costs in oligopolies
97. On the above graph, if the oligopolist's MC curve shifts
from MC1 to MC2, the firm will charge:
a. A higher price than before and total revenue will increase
b. The same price as before and sell more output; total revenue
will increase
c. The same price as before and sell the same amount of output;
total revenue will remain the same
d. A higher price than before and sell less output; it can't be
determined whether total revenue will change
32. 98. Given the oligopolistic firm pictured above, what is the
profit-maximizing price?
a. P1
b. P2
c. P4
d. 0
99. The strategy of establishing a price that prevents the entry
of new firms is called:
a. Cartel pricing
b. Limit pricing
c. Price leadership
d. Profit maximizing price
100. Which of the following best describes the efficiency
results in oligopoly?
a. P > MC and P = minimum ATC
b. P = MC and P > minimum ATC
c. P = MC and P = minimum ATC
d. P > MC and P > minimum ATC
BACKGROUNDER
Breaking Ground:
The Community Food Security Movement
F O O D F I R S T
I N S T I T U T E F O R F O O D A N D D E V E L O P M E
N T P O L I C Y
33. BACKGROUNDER
W I N T E R 2 0 0 4 V O L U M E 1 0 • N U M B E R 1 • 5
0 ¢
The U.S. is the world’s largest producer and exporter of food,
yet in 2002, 35 million Americans didn’t know wheretheir next
meal was coming from.1 At the same time, nearly two-thirds of
Americans were overweight. Although hungeris still a reality
for those living in poverty, our food system has created a
condition where “obesity is now a greater threat
to the health and well-being of America’s poor” than hunger.2
One reason the food system is so sick is that
supermarkets are virtually nonexistent in poor
communities. Wealthier neighborhoods have
two to three times as many supermarkets as
lower-income areas, and white neighbor-
hoods have up to four times more supermar-
kets than African-American neighborhoods.3
Without access to nutritious food, poor com-
munities will have unhealthy diets.4
Access to safe and nutritious food concerns
not only America’s poor. Approximately
2,000 Americans die each year from food
poisoning caused by salmonella and E. coli,
in part due to large-scale food processing.5
And in our industrialized, profit-maximizing
agricultural system, mad cow disease has now
become a reality. 6
Today, just ten companies supply more than
half the food and drink sold in the United States.7 Corporate
34. consolidation of the food industry has reduced farmers to less
than 1 percent of the U.S. population,8 and because production
and distribution is so centralized, food now travels on average
1,500 to 2,500 miles from farm to plate in the U.S.9
Recognizing that dramatic changes aren’t imminent in the
profit-driven food system, a diverse network of activists across
Amer-
ica have begun organizing for a just food system that benefits
consumers and farmers. Family farm groups, food banks, com-
munity gardeners, nutritionists, environmentalists, and
community development organizations are striving to achieve
community
food security10—a condition wherein everyone has a safe,
culturally acceptable, nutritious diet through a sustainable food
system
that maximizes community self-reliance and social justice.11
According to Andy Fisher, Executive Director of the
Community Food Security Coalition, this movement, which has
flowered
in the past seven years, seeks to democratize food production
and distribution by localizing food, using more sustainable and
health-promoting practices, and meeting the needs of
underserved communities.12
by Christine Ahn*
Youth and staff from the Peoples’ Grocery, Oakland, California.
* Christine Ahn is Program Coordinator for the Economic and
Social Human Rights Program at Food First.
P
h
ot
36. state received emergency food, further
stressing the soup kitchens and food
pantries that fed 45 percent more people
in 2002 than in 2000.16 And from 1987
to 1997, the state lost about a million
acres of fertile farmland, displacing fam-
ily farmers.
In response to these crises, Just Food
began connecting farmers with urban
families in the New York City area. Since
1996, Just Food has organized thirty
community gardens and thirty-five CSAs,
with each CSA supporting up to six
regional farmers. During the harvest sea-
son, the CSA farmers deliver produce and
meat—usuall y organic and always
fresh—to a central distribution site in the
city. According to Dr. Gussow, who chairs
the Just Food board, demand has soared
faster than local farmers can supply.17
Boston’s Food Project
Transforming vacant lots into lush city
farms is a crucial way to feed a rapidly
growing urban population, and the
Boston-based Food Project has become a
national inspiration to other inner city
communities. In 1991, the first growing
season yielded 4,000 pounds of food
from 2.5 acres of detoxified soil. By 2001,
the Food Project was growing 209,000
Dr. Joan Gussow, Professor Emerita of
Nutrition at Columbia University and
author of This Organic Life (2002),
37. believes that “the Community Food Secu-
rity movement is still small when com-
pared to the power of...Wal-Mart, but all
across the country, our growth can almost
match theirs.”13
Innovative Models of
Food Justice
Two trends form important pillars of the
community food security movement:
farmers’ markets and community support-
ed agriculture programs (CSAs). Farmers’
markets, the most obvious outlets for farm-
ers to earn a decent price for their produce,
have grown from 1,774 to 3,100 in the
past decade.14 CSAs, also known as sub-
scription farms, allow consumers to buy
advance shares of a farm’s harvest. They
date back thirty years to Japan, where a
group of women concerned about grow-
ing food imports, use of pesticides, and the
corresponding decrease in the farming
population organized a direct relationship
with local farms. CSAs have since spread
to Europe and to the U.S., where over
1,200 now flourish.15
The following are some snapshots of what
community food security looks like in the
United States.
pounds of organic food on a twenty-one-
acre farm and three city lots. The project
donates 55 percent of the food to fifteen
homeless shelters and soup kitchens, sells
5 percent at reasonable prices at inner city
38. farmers’ markets, and distributes the rest
to 225 CSA shareholders.
The Food Project also gives youth a
chance to learn urban farming, work in
Boston homeless shelters, and run city
farmers’ markets. As youth coordinator
Anim Steele puts it, “We need to involve
young people because they will inherit
our practices, and they need to learn that
alternatives exist.”18
Oakland’s Peoples’ Grocery
Hamburgers, pizza, Chinese take-out, and
donuts are some of the most accessible
foods for West Oakland, California’s
30,000 predominantly African American
and Latino residents. This impoverished
neighborhood has just one grocery store,
forty liquor stores, and a handful of fast
food restaurants.19
In response, community activists started
Peoples’ Grocery, a community garden
and mobile market in the heart of West
Oakland. They transformed a 4,000
square foot vacant lot into a garden that
now grows seasonal fruits and vegetables
and educates youth and residents about
urban renewal, food justice, and revitaliz-
ing the local economy. They also operate
a mobile market on wheels that runs on
bio-diesel fuel and sells fresh produce, sta-
ple goods, and healthy snacks from local
farmers and urban farmers’ markets.
39. According to co-founder Brahm Ahma-
di, Peoples’ Grocery was founded “with
the long-term goal of building communi-
ty self-reliance in West Oakland. We’ve
chosen food as an organizing tool for our
work because it is personal and universal
to everyone and is fundamental to the
inner workings of a community.”20
Junk Food or Just Food?
Feeding Our Children
As Ahmadi says, the community food
security movement is about organizing,
and the community doesn’t stop at the
school gates.
Residents of Chicago public housing work in their community
vegetable garden.
U
S
D
A
p
h
ot
o
b
y
K
en
40. H
am
m
on
d
Community Food Security Movement Resources
3
Nationwide, a coalition of students, par-
ents, teachers, administrators, and com-
munity and health advocates are pressing
for farm-to-school programs that help
local farmers supply schools with nutri-
tious food. In 1997, the Santa Moni-
ca–Malibu Unified School District
became the first to stock fresh produce
from a farmers’ market in the salad bars
of all its nine schools. Over 700 school
districts across America now participate
in farm-to-school programs,21 and the
trend is spreading to universities and
other public institutions, including the
Connecticut Department of Corrections.
Since 1999, the Berkeley Unified School
District has purchased from local farmers to
feed its 10,000 students. Berkeley also serves
fresh food in its cafeterias through school
gardens, such as the Martin Luther King Jr.
Middle School’s Edible Schoolyard, found-
41. ed by Chez Panisse chef Alice Waters.
In Los Angeles, the organizing efforts of
students, parents, and teachers resulted in
a ban on sales of soda and junk food in
cafeterias and student stores throughout
the school district. Other districts are con-
sidering such a ban.
This organizing is in response to an esti-
mate that one-third of our nation’s 23,000
public schools sell fast food to students,
often because tight food budgets lead
administrators to resort to cheap, highly
processed food.22 In Los Angeles—which
serves fast food to its students—75 percent
of students participate in the USDA’s
National School Lunch Program, which
reimburses L.A. schools approximately $33
million per year, thereby subsidizing the
sale of fast food to children. Since school
breakfast and lunch are often the only
meals low income children get all day, the
impact on the health of poor students is
potentially disastrous. As fifteen-year-old
Rosa Villar, a Los Angeles high school stu-
dent, put it, “If schools are responsible for
teaching kids to say no to drugs, tobacco,
and alcohol, then why don’t they tell kids
to say no to fast food?”23
Clearly, change is needed on a large scale,
including at the level of the National
School Lunch Program. Groups within
the movement have successfully pressed
for national legislation, such as the Com-
42. Community Food Security Coalition
Tel: 310-822-5410
http://www.foodsecurity.org/
Community Supported Agriculture (CSA)
Tel: 301-504-6559
http://www.nal.usda.gov/afsic/csa/
Farmers’ Markets
To find a farmers’ market in your area, go to
http://www.ams.usda.gov/farmersmarkets/map.htm
Farm to School Program
To support funding for this program, go to
http://www.foodsecurity.org/action_alert.html
Community Alliance with Family Farmers
Tel: 530-756-8518
http://www.caff.org/
Just Food, New York
Tel: 212-645-9880
http://www.justfood.org/
The Food Project, Boston
Tel: 617-442-1322
http://www.thefoodproject.org/
Peoples’ Grocery, Oakland
Tel: 510-420-8622
http://www.peoplesgrocery.org
Collard greens grown on Chicago’s
south side.
44. b
y
Ja
ck
D
el
an
o
munity Food Security Act of the 1996
Farm Bill, authorizing $16 million in
USDA-funded grants over seven years to
support projects that provide fresher,
more nutritious food in poor neighbor-
hoods and help communities meet their
own food needs. Advocates succeeded in
doubling this amount in the 2002 Farm
Bill. They are now pressing for federal
funds to assist schools with the extra costs
of purchasing directly from local farmers
and for transit programs and distribution
centers to improve food access in both
urban and rural low income communities.
The Way Forward
Organizing around food is often a catalyst
for addressing broader social and econom-
ic justice issues, such as access to affordable
housing and public transportation. The pro-
liferation of local food projects, farmers’
markets, CSAs, farm-to-school programs,
and progressive public policies aimed at
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48. Nutrition Research Report Number 35,
(Food Assistance and Nutrition Research
Program, United States Department of
Agriculture and Economic Research
Service, October 2003), 16.
2 Kelly Brownell and Katherine Battle
Horgen, Food Fight, (McGraw Hill, 2004),
207.
3 Brownell and Horgen, 209.
4 K. Morland, S. Wing, A. Diez Roux, and
C. Poole, “Neighborhood Characteristics
Associated with the Location of Food
Stores and Food Services Places,”
Journal of Preventive Medicine 22
(2002): 23–29.
5 Elizabeth Simpson and Henning Sehms-
dorf, “Nutrition—Body and Soul,” opening
remarks at the national conference “Farm
to Cafeteria: Healthy Farms, Healthy
Students,” Seattle, October 4, 2002.
6 Verlyn Klinkenborg, “Holstein Dairy Cows
and the Inefficient Efficiencies of Modern
Farming,” The New York Times,
January 5, 2004.
7 Russell Shorto, “A Short-Order
Revolutionary,” The New York Times
Magazine, January 11, 2004.
8 Shorto.
49. 9 For an excellent analysis of the vulnerabili-
ty of our food system, see Brian Halweil’s
Home Grown: The Case For Local Food In
A Global Market (Washington, DC: World-
Watch Institute, 2002).
10 Andy Fisher, “Community Food Security:
A Promising Alternative to the Global Food
System,” Community Food Security
Newsletter, Spring 2003.
11 Definition by Mike Hamm and Anne
Bellows from Andy Fisher.
12 Interview, January 22, 2004.
13 Interview, January 22, 2004.
14 Halweil, 38.
15 Margot Roosevelt, “Fresh Off the Farm,”
Time 162, no. 18 (November 3, 2003): 60.
16 Just Food website http://www.justfood.org
17 Interview, January 22, 2004.
18 Interview, January 13, 2004.
19 Interview with Brahm Ahmadi, January
26, 2004.
20 Interview, January 26, 2004.
21 Bob Gottlieb, “Farm to School Update,”
Community Food Security Newsletter,
50. Spring 2003: 13.
22 Marion Kalb, Farm to School Program,
interview, January 7, 2004.
23 Francesca de la Rosa, Center for Food
Justice, interview, January 8, 2004.
24 Interview, January 22, 2004.