Welcome

Anti Essays offers essay examples to help students with their essay writing.

Sign Up

1. Econ 545 Week 8 Final Exam 2 Sets - Devry Essay

  • Submitted by: lionall
  • on August 19, 2015
  • Category: Miscellaneous
  • Length: 2,267 words

Open Document

Below is an essay on "1. Econ 545 Week 8 Final Exam 2 Sets - Devry" from Anti Essays, your source for research papers, essays, and term paper examples.

1. ECON 545 Week 8 Final Exam 2 Sets - DeVry

IF You Want To Purchase A+ Work Then Click The Link Below   , Instant Download

http://acehomework.com/ECON-545-Week-8-Final-Exam-2-Sets-DeVry-539544455523.htm?categoryId=-1


If You Face Any Problem E- Mail Us At   Contact.Hwnerd@Gmail.Com


2.

3. TCO A) Suppose you are hired to manage a small manufacturing facility that produces Widgets. (a.) (15 points) You know from data collected on the Widget Market that market demand and market supply have both increased recently. As manager of the facility, what decisions should you make regarding production levels and pricing for your Widget facility? Remember that supply and demand are about the market supply and market demand, which is bigger than your own company. You are being given data on supply and demand for the whole market and are being asked what effect that has on you as a small part of that market. (b.) (15 points) Now, suppose that following the supply and demand changes in (a), a substitute good goes up in price, and your costs of production increase. What new decisions will you make regarding production levels and pricing for your Widget facility?
4.

5. (TCO B) Here is some data on the demand for marshmallows:.........(a.) (15 points) Is demand elastic or inelastic in the $6-$8 price range? How do you know? (b.) (15 points) If the table represents the demand faced by a monopoly firm, then what is that firm’s marginal revenue as it increases output from 1300 units to 2200 units? Show all work. (Be careful here!)
6.

7. (TCO C) You have been hired to manage a small manufacturing facility whose cost and production data are given in the table below..............(a.) (6 points) What is the marginal product of the second worker? (b.) (6 points) What is the marginal revenue product of the fourth worker? (c.) (6 points) What is the marginal cost of the first worker? (d.) (12 points) Based on your knowledge of marginal analysis, how many workers...

Show More


Citations

MLA Citation

"1. Econ 545 Week 8 Final Exam 2 Sets - Devry". Anti Essays. 16 Dec. 2018

<http://trenmayamx.com/free-essays/1-Econ-545-Week-8-Final-Exam-762124.html>

APA Citation

1. Econ 545 Week 8 Final Exam 2 Sets - Devry. Anti Essays. Retrieved December 16, 2018, from the World Wide Web: http://trenmayamx.com/free-essays/1-Econ-545-Week-8-Final-Exam-762124.html