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ECO 301 Intermediate Microeconomics Week 10 Homework Problem Answer

ECO 301 Intermediate Microeconomics Week 10 Homework Problem Answer

ECO 301 Intermediate Microeconomics Week 10 Homework Problem Answer

Chapter 17: 17.1(a-c), 17.2(a-d), 17.6(a-b), 17.8(a-c), 17.10(a-d)

17.1 A queen gives a dragon-slaying hero a choice between two prizes. The first provides $100,000 a day for d days; the second provides an amount of money that doubles in size each day for d days starting from a penny (so one penny the first day, two pennies the second, four pennies the next, etc.).

1. Provide the formula for the amount of money after d days provided by each prize.
2. Graph your results for values of d ranging from 0 to 31 days.
3. Using your graph, advise the hero on which prize he should choose depending on the number of days d involved in the queen’s offer.

17.2 Imagine that you are a subject in one of Maurice Allais lab experiments involving the same four gambles as in the chapter. Gamble A provides a 89% chance of winning $1,000, a 10% chance of winning $5,000, and a 1% chance of winning nothing. Gamble B provides a 100% chance of winning $1,000. Gamble C provides an 11% chance of winning $1,000 and an 89% chance of winning nothing. Finally, gamble D provides a 10% chance of winning $5,000 and a 90% chance of winning nothing. Your utility function over money is Ux = SQRT (x).

17.6 Julia visits her local grocery store to buy a jar of jam. She is overwhelmed to see the twenty-four varieties shown in Figure 17.3 there.

•Suppose she makes her decision by evaluating every pairwise comparison among the twenty four varieties. How many comparisons does she have to make, and how long will it take her if she requires 1 second for each comparison?b. Suppose she uses a different system for making her decision. First, she considers each of the separate categories separately and m the pairwise comparisons just within the category to

1.find the best. Then, she takes the best from each category and makes all the pairwise comparisons among them. Has she reduced the number of comparisons and total decision time using this system?
2.

17.8 In period 1, Mr. Consistency and Mr. Hyperbola are each trying to come up with a plan for how much they will exercise in period 2. Exercise is less enjoyable than other leisure activities, leading to a loss of 100 in terms of period 2 utils. Exercise provides health benefits, realized in period 3, leading to a gain of 250 in terms of period 3 utils. They put the following weights on utilities each period:

According to this table, Mr. Consistency’s weight on future utility falls by half each period. Mr. Hyperbola’s weights are related to Mr. Consistency’s; the difference is that Mr. Hyperbola’s are reduced a further 30% for periods after the current one.

17.10 Trans-fatty potato chips are competitively supplied. The supply curve is Qs = P/2.

Demand for these potato chips is QD = 100 – 2P:

•Compute the equilibrium price, quantity, consumer surplus, producer surplus, and social welfare.

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The earnings, dividends, and stock price of Shelby Inc. are expected to grow at 7 percent per year in the future Answer

The earnings, dividends, and stock price of Shelby Inc. are expected to grow at 7 percent per year in the future Answer

The earnings, dividends, and stock price of Shelby Inc. are expected to grow at 7% per year in the future. Shelby’s common stock sells for $23 per share, its last dividend was

$2.00, and the company will pay a dividend of $2.14 at the end of the current year.

  1. Using the discounted cash flow approach, what is its cost of equity?

If the firm’s beta is 1.6, the risk-free rate is 9%, and the expected return on the market is 13%, then what would be the firm’s cost of equity based on the CAPM approach?

  1. (10-1) A project has an initial cost of $40,000, expected net cash inflows of $9,000 per year for 7 years, and a cost of capital of 11%. What is the project’s NPV? (Hint: Begin by constructing a time line.)

    (10-2) Refer to Problem 10-1. What is the project’s IRR?

    (10-3) Refer to Problem 10-1. What is the project’s MIRR?

    (10-4) Refer to Problem 10-1. What is the project’s PI?

    (10-5) Refer to Problem 10-1. What is the project’s payback period?

    (10-6) Refer to Problem 10-1. What is the project’s discounted payback period?

(10-7) your division is considering two investment projects, each of which requires an up-front expenditure of $15 million. You estimate that the investments will produce the following net cash flows:

  1. What are the two projects’ net present values, assuming the cost of capital is 5%?

10%? 15%?

  1. What are the two projects’ IRRs at these same costs of capital? Year Project A Project B

1  $ 5,000,000  $20,000,000

2  10,000,000  10,000,000

3  20,000,000  6,000,000

(25-2) An analyst has modeled the stock of Crisp Trucking using a two-factor APT model. The risk-free rate is 6%, the expected return on the first factor (r1) is 12%, and the expected return on the second factor (r2) is 8%. If bi1= 0.7 and bi2 = 0.9, what is Crisp’s required return?

(5-2) Wilson Wonders’ bonds have 12 years remaining to maturity. Interest is paid annually, the bonds have a $1,000 par value, and the coupon interest rate is 10%. The bonds sell at a price of $850. What is their yield to maturity?

 

 

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Record the following transactions_Brian invests $10,000 cash to begin an accounting service Answer

Record the following transactions_Brian invests $10,000 cash to begin an accounting service Answer

Part A (30 points)

Record the following transactions in the basic accounting equation:
a.Brian invests $10,000 cash to begin an accounting service.
b.The company buys office furniture for cash, $600.
c.The company buys additional office furniture on account, $300.
d.The company makes a payment on the office furniture, $200.

Brian’s Accounting Service

ASSETS = LIABILITIES + OWNER’S EQUITY
Cash + Office Furniture = Accounts Payable + Brian’s Capital
Part B (40 points)

The following is a list of accounts and their balances for Benson Company for the month ended June 30, 20xx. Prepare a trial balance in good form.

Cash $1,370
Accounts Payable 770
Office Equipment 900
Benson, Capital 1,500
Benson, Withdrawals 500
Accounts Receivable 1,600
Service Fees 2,730
Salaries Expense 630
Part C (30 points)

The following transactions occurred during June for Campus Cycle Shop. Record the transactions below in the T accounts. Place the letter of the transaction next to the entry. Foot and calculate the ending balances of the T accounts where appropriate.
a.Tyler invested $6,500 in the bike service from his personal savings account.
b.Bought office equipment for cash, $900.
c.Performed bike service for a customer on account, $1,000.
d.Company cell phone bill received, but not paid, $80.
e.Collected $500 from customer in transaction c.
f.Tyler withdrew $300 for personal use.

Part D (20 points)

Prepare in proper form journal entries for the following transactions. Omit explanations.

October
2 Owner made a cash investment into the company $5,000
8 Bought supplies on account $100.
10 Paid salaries, $700
15 Paid for supplies purchased on October 8
21 Received company telephone bill, to be paid later, $30
Part E (5 points each for a possible total of 50 points)

Record the following selected transactions for January in a two-column journal, identifying each entry by letter:
a.Earned $7,000 fees; customer will pay later.
b.Purchased equipment for $45,000, paying $20,000 in cash and the remainder on credit
c.Paid $3,000 for rent for January.
d.Purchased $2,500 of supplies on account.
e.A. Allen $1,000 investment in the company.
f.Received $7,000 in cash for fees earned previously.
g.Paid $1,200 to creditors on account.
h.Paid wages of $6,250.
i.Received $7,150 from customers on account.
j.A. Allen withdrawal of $1,750.

Part F
1.(10 points) From the following items in the income statement columns of the worksheet of Friend’s Tutoring at December 31, prepare the closing entries without explanation, assuming that a $1,000 withdrawal was made during the period.
Income Statement
Account Debit Credit
Tutoring Fees 3,450
Wages Expense 700
Rent Expense 600
Supplies Expense 450
Insurance Expense 250
2,000 3,450
Net Income 1,450
$3,450 $3,450
2.(5 points each for a possible total of 20 points) A summary of selected ledger accounts appear below for S. Ball for the current calendar year.
Answer the following questions.
a.What was the total amount of withdrawals for the year?
b.What was the net income?
c.What was the total revenue?
d.What were the total expenses?

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Assignment 08 C05 Business Communication Select a fairly inexpensive product that you currently own Answer

Assignment 08 C05 Business Communication Select a fairly inexpensive product that you currently own Answer

ASSIGNMENT 08
C05 Business Communication
Directions: Be sure to save an electronic copy of your answer before submitting it to Ashworth College for grading. Unless otherwise stated, answer in complete sentences, and be sure to use correct English, spelling and grammar. Sources must be cited in APA format. Your response should be four (4) double-spaced pages; refer to the “Assignment Format” page located on the Course Home page for specific format requirements. Writing Style APA (American Psychological Association)
Select a fairly inexpensive product that you currently own, and a country that you’re not very familiar with. The product could be a moderately priced watch, radio, or other device. Now imagine that you are with the international sales department of the company that manufactures and sells the item and that you are proposing to make it available in the country you have selected.
The first step is to learn as much as possible about the country where you plan to market the product. Check almanacs, encyclopedias, the Internet, and library databases for the most recent information, paying particular attention to descriptions of the social life of the inhabitants, their economic conditions, and cultural traditions that would encourage or discourage use of the product.
Your 1-2 page report is to be submitted to the chief operating officer of the company, whose name you can either make up or find in a corporate directory. Make sure to include the following:
(1) Briefly describe the product you plan to market abroad.
(2) Briefly describe the country you have selected.
(3) Indicate the type(s) of people in this country who would find the product attractive. Provide at least one (1) supporting fact.
(4) Explain how the product would be transported into the country (or possibly manufactured there if materials and labor are available). Provide at least one (1) supporting fact that justifies your choice.
(5) Recommend a location for a regional sales center. Provide at least one (1) supporting fact that supports your location choice.
(6) Describe how the product will do in this new environment, with at least two (2) supporting facts.
(7) Describe at least two (2) recommendations for marketing (steps the company should take immediately and those it should develop later).

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IT 273 Unit 6 Project 6A UNIT 6 PROJECT CASE STUDY_THE BANANA TREE TRAVEL AGENCY Answer

IT 273 Unit 6 Project 6A UNIT 6 PROJECT CASE STUDY_THE BANANA TREE TRAVEL AGENCY Answer

IT273 Unit 6, Project 6A
UNIT-6 PROJECT CASE STUDY: THE BANANA TREE TRAVEL AGENCY

Unit 6 Project Case Study: The Banana Tree Travel Agency
The Banana Tree Travel Agency a small travel agency has been growing and they decided to expand their operation. There has been a lot of interest in the travel agency’s tours to Egypt. To better serve their customers, the company has decided to expand their operation internationally and lease an office in Cairo. Two travel agents will be working in that office. The two travel agents would need new workstations and a printer connected together as well as internet connection and would also need to occasionally exchange files with the main office in Miami Florida.
In addition to adding the international office, John Wrighwing has leased an adjacent office building. He has decided to house 10 of his travel agents within the leased building. There will be one Administrative Aide in the building with the travel agents. He is also adding a conference room with a projector.
The travel agents who will be in the leased building have relatively new workstations all running Windows Vista. He wants three printers and additional space for 5 new agents who will work both in and out of the office. The agents from Building “A” will also need to work at times in Building “B”.
The administrative staff and the other travel agents in the first building have a mix of computers, some of the computers are running Windows XP, some are running Windows Vista, and there is still one running Windows 2000.
Group “A” is happy with their computers and with the network. Both networks have their own Internet connections.
Project Grading Rubric
Course: IT273 Unit: 6 Points: 50
Copyright Kaplan University
The Challenge:
• Setting up the network and having the networks in both buildings communicate with each other.
• Setting up the office in Cairo and having the computers and printer networked together.
• The Travel agents all need to get daily printed reports which will be coming from the original building (Building A).
• What are some solutions to getting both networks communicating with each other and having an easy transition?
• What are some solutions of sending files from the international office in Cairo to the main office in Miami?
• If using wireless consider the weather.
• What hardware would you use?
Project Instructions:
Respond to each of the project requirements and submit all work to the Dropbox as a single file. Note: This project contains three separate parts – read the rubrics.
Project requirements:
1. Show one example each of a Class A network IP address, a Class B network IP address, and a Class C network IP address. Explain what each piece of the address tells you in each case.
2. Use the unit 6 seminar/project case scenario (above) and use Visio 2007 to generate a diagram for the network topology. Briefly discuss which design would best fit the client’s needs.
Review the grading rubric below before beginning this activity.
Project 6a grading rubric – 22 points
Project Requirements
Maximum points possible for satisfactory completion of task =
Points earned by student
1-1. List an accurate IP address for each Class network
0-6 points
1-2. Give a brief but accurate explanation of how each network class can be identified by the IP address
0-6 points
2-1. Create Visio diagram
0-5 points
2-2. Briefly discuss which design would best fit the client’s needs.
0-5 points

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MI 606 Human Resource Management DQ 2 What beliefs about Americans are revealed in the concept Answer

MI 606 Human Resource Management DQ 2 What beliefs about Americans are revealed in the concept Answer

Philippe d’Iribarne (1996) used the term “contract” as a metaphor for the American work culture. After reading his article, assigned in your Required Readings, answer the following questions. (25 points) (A 1½-page response is required.)
a. What beliefs about Americans are revealed in the concept of the “fair contract?”
b. What is the historical basis for selecting the term fair contract?
c. What are the implications for HRM?
d. Do the French typically have similar views as Americans about the concept of “fair contract?”

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MGMT 530 Managerial Decision-Making Mid Term Exam Answer

MGMT 530 Managerial Decision-Making Mid Term Exam Answer

Mid Term Exam
1. (TCO A) Your small services company has outgrown the current facility after the first two years of a three-year lease. As the operations manager, you are being held accountable for cancelling orders, and you are beginning to lose market share due to late deliveries. The goal is to determine what action to take in the future to improve the situation and restore sales.
i. What criteria should have been used in the decision-making process that could have avoided the current situation?
ii. Describe the eight elements for effective decision making used in a rational decision-making approach, and describe how it could have been applied seeing this potential crisis in advance.

2. TCO A) Understanding fundamental and means objectives are important to decision analysis and decision making. As your business has grown, you are evaluating moving your company to a larger office closer to several of your key customers and are looking at several different alternatives.
i. Identify your fundamental objectives.

ii. How would those objectives be used in the decision-making process?

iii. Identify your means objectives.

iv. How would the means objectives be used in the decision-making process

3. (TCO A) Robin Griffith, Business Manager for Clark Investments, is considering three new office locations. In trying to decide which location is the best overall for the company, Robin has concluded that three criteria are important in this decision. First, of course, is to have a location in close proximity to key corporate customers. This objective is most important, twice as important as each of the other two criteria. The second criterion is to have a location with excellent tenant satisfaction. The third criterion is for the facility to have additional space to expand into. The second and third criteria are equally important.
Here is a summary of each of the locations:
1) Shady Pines: 7 corporate accounts within five miles; scored an 80 satisfied/highly satisfied in recent tenant satisfaction poll; 1,000 additional square feet available in the event of a need to expand further.
2) Via Angelina: 5 corporate accounts within five miles; scored an 85 satisfied/highly satisfied in recent tenant satisfaction poll; 2,000 additional square feet available in the event of a need to expand further.
3) The Mercado: 4 corporate accounts within five miles; scored a 75 satisfied/highly satisfied in recent tenant satisfaction poll; no additional space available.
(a) What is Robin’s problem or opportunity in this situation?

(b) What is the overall objective for Robin’s decision? What are the fundamental objectives that support the overall objective?

(c) What are Robin’s alternatives for this decision situation?

(d) Evaluate this decision situation using tradeoffs or a weighted scoring model. Based on that analysis, to which location should Robin select?

4. TCO B) Utilizing intuitive thinking in today’s business environment is a must according to research and practical experience.
i. Why is intuition important to managers today, and how reliable is it in decision making?
ii. Develop three approaches for improving one’s intuition to enable better decision making.

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A firm believes it can generate an additional $450,000 per year in revenues for the next 6 years Answer

A firm believes it can generate an additional $450,000 per year in revenues for the next 6 years Answer

A firm believes it can generate an additional $450,000 per year in revenues for the next 6 years if it replaces existing equipment that is no longer usable with new equipment that costs $500,000. The additional sales will require an initial investment in net working capital of $35,000, which is expected to be recovered at the end of the project (after 6 years). The existing equipment has a book value of $15,000 and a market value of $5,000. The firm expects to be able to sell the new equipment when it is finished using it (after 6 years) for $20,000. The contribution margin is expected to be 40% of revenue. Assume the firm uses straight line depreciation, its marginal tax rate is 35%, and its weighted-average cost of capital is 14%.

a) How much value will this new equipment create for the firm?

b) At what discount rate will this project break even?

c) Should the firm purchase the new equipment? Be sure to justify your recommendation”

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Madrano Wholesale Fruit Company located in McAllen TX is considering the purchase of a new fleet Answer

Madrano Wholesale Fruit Company located in McAllen TX is considering the purchase of a new fleet_Answer

Replacement project cash flows) Madrano’s Wholesale Fruit Company located in McAllen, TX is considering the purchase of a new fleet of tractors to be used in the delivery of fruits and vegetables frown in the Rio Grand Valley of Texas. If it goes through with the purchase , it will spend $400,000 on eight rigs. The new trucks will be kept for 5 years, during which time they will be depreciated toward a $40,000 salvage value using straight-line depreciation. The rigs are expected to have a market value in 5 years equal to their salvage value. The new tractors will be used to replace the company’s older fleet of eight trucks which are fully depreciated but can be sold for an estimated $20,000 (since the tractors have a current book value of zero, the selling price is fully taxable at the firms’s 30% tax rate). The existing tractor fleet is expected to be usable for 5 more years after which time they will have no salvage salvage value at all. The existing fleet of tractors uses $200,000 per year in diesel fuel, whereas the maintenance costs per year in diesel fuel,whereas the new, more efficient fleet will use only $150,000. In addition, the new fleet will be covered under warranty, so the maintenance costs per year are expected to be only $12,000 compared to $35,000 for the existing fleet. (a) what are the differential operating cash flow savings per year during years 1 through 5 for the new fleet? (b) what is the initial cash outlay required to replace the existing fleet with the newer tractors? (c)Sketch a timeline for the replacement project cash flows for years 0 through 5. (d) if Madrano requires a 15% discount rate for new investments, should the fleet be replaced?

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Select 5 commercial real estate investment properties currently listed for sale Answer

Select 5 commercial real estate investment properties currently listed for sale_Answer

Case Study 2
Select 5 commercial real estate investment properties currently listed for sale from any source, for example, Realtor.com. These investments can be from anywhere in the United States and from any price range (use current market values). Analyze each of these investments using a SWOT analysis, at least 5 relevant financial ratios from your text, and at least 3 capital budgeting techniques (for example, NPV, IRR, and MIRR). Provide conclusions as to which investment you should choose based on your analysis and why (assume that only 1 investment can be selected out of the 5). Use concepts found in the course to defend your position. You can make any realistic assumptions necessary.

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