Cost of Materials for Producing Bicycles
Order ID:89JHGSJE83839 Style:APA/MLA/Harvard/Chicago Pages:5-10 Instructions:
Cost of Materials for Producing Bicycles
- (TCO A)There is an increase in the cost of materials for producing bicycles. (4 pts.) What happens to bicycle supply? (6 pts.) What happens to bicycle demand?
- (TCO A) Digital cameras and memory cards are complements in consumption. The price of digital cameras falls.(4 pts.) What happens to the demand for memory cards? (6 pts.) What happens to the demand for digital cameras? 3. (TCO A) The number of corn producers increases. (4 pts.) What happens to the supply of corn? (6 pts.) What happens to the demand for corn?
- (TCO A) A market is in equilibrium with equilibrium quantity Q* and equilibrium price P*. (2 pts.) What happens to P* if there is an increase in supply? (4 pts.) What happens to Q* if there is a decrease in supply and a decrease in demand? (4 pts.) What happens to P* if there is an increase in demand followed by a decrease in supply followed by another increase in demand?
- (TCO B) The following table shows part of the demand for tickets to a local sporting event:
- (TCO B) Use a hypothetical example to illustrate whether you agree or disagree with the following statement, “Unemployment will go up more if the demand for labor is inelastic, because the demand for labor will decrease more when you have inelastic demand than if demand were elastic”.Explain why, using hypothetical numbers to illustrate your case.
- (TCO C) You have been hired to manage a small manufacturing facility which has cost and production data given in the table below……………..(2 points) What is the marginal product of the third worker? (2 points) What is the marginal revenue product of the second worker? (2 points) What is the marginal cost of the fourth worker? (4 points) Based on your knowledge of marginal analysis, how many workers should you hire? Explain you answer.
- (TCO C) Answer the next question on the basis of the following cost data for a purely competitive seller:…………. Refer to the above data. If the product price is $85, at its optimal output will the firm realize an economic profit, break even, or incur an economic loss? How much will the profit or loss be? Show all calculations
- (TCO C)Answer the next question on the basis of the following cost data for a purely competitive seller:…………. Refer to the above data. If the product price is $105, at its optimal output will the firm realize an economic profit, break even, or incur an economic loss? How much will the profit or loss be? Show all calculations.
- (TCO C) A firm has Total Costs (TC) of $12,000 over the next three months (TOTAL for the 3 months – not per month), of which $8,000 are fixed costs (TFC) for rent on its lease that cannot be broken. If it stays in business over those months, then the firm will collect only $6,000 in revenues (TR). So, considering only this information, should they stay in business for those three months, or should they close down right now? Provide your reasoning.
Cost of Materials for Producing Bicycles
RUBRIC
Excellent Quality
95-100%
Introduction 45-41 points
The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
Literature Support
91-84 points
The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
Methodology
58-53 points
Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met.
Average Score
50-85%
40-38 points
More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided.
83-76 points
Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration.
52-49 points
Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met.
Poor Quality
0-45%
37-1 points
The background and/or significance are missing. No search history information is provided.
75-1 points
Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration.
48-1 points
There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met
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