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Managerial Economics.
Date Posted: 23/04/2021
Category: Economics
Due Date: 23/04/2021
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4 essay type questions
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tectutorz 4 years, 12 months ago
Rated 9.66 earned 217476.74 around 7774 assignments.
My promises include punctuality, impeccable grammar and punctuation, originality (lack of plagiarism), and assurance of high quality in all the text that I provide.
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  • My work is always 100% original. I honestly understand the concern of plagiarism and its consequences. As such, I ensure that I check the assignment for any plagiarism before submission. If you were searching for a skilled writer to handle your assignments, you have just found one! Do not hesitate to message me if you are interested in my services!
    tectutorz | Apr 23, 2021, 21:23 PM
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WritingPartner 4 years, 12 months ago
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  • Hello, I need this assignment done by tonight. Can you help? Thanks
    User_25737 | Apr 23, 2021, 21:53 PM
  • Hello. Could you upload the questions first?
    WritingPartner | Apr 23, 2021, 21:54 PM
  • Suppose the hypothetical country Cascadia can only produce two goods: furniture and paper. Further suppose there is only one factor of production, timber, which can be used to produce either furniture or paper in Cascadia. For the purpose of this question, you can assume there is only one kind of timber and it is equally good when producing furniture or paper. (ie: Cascadia doesn’t have any specialized factors of production.) If Cascadia allocates all of their timber supply to furniture production, they can produce 200,000 pieces of furniture. Alternatively, if they allocate all of their timber supply to paper production, they can produce 400,000 tons of paper. a.Draw the PPF (production possibilities frontier) for Cascadia. Make sure to label both axes. Also don’t forget to show the greatest amount of paper and furniture they can produce. (4 pts) b.What is the opportunity cost of producing one piece of furniture for Cascadia? (4 pts)
    User_25737 | Apr 23, 2021, 21:58 PM
  • c.What is the opportunity cost of producing one ton of paper for Cascadia? (4 pts) d.Consider the production point 100,000 pieces of furniture and 200,000 tons of paper. Show this production point on your plot from part a. Is this production point feasible? Is it efficient? (4 pts) e.Now consider the production point 150,000 pieces of furniture and 200,000 tons of paper. Show this production point on your plot from part a. Is this production point feasible? (4 pts) f.If the production point in part e is not feasible, how can Cascadia make it feasible? (5 pts)
    User_25737 | Apr 23, 2021, 21:58 PM
  • That’s question 1. I have 4 questions total
    User_25737 | Apr 23, 2021, 21:58 PM
  • Totally doable. What's your current time now?
    WritingPartner | Apr 23, 2021, 21:59 PM
  • It’s currently 3:06pm. Due at midnight so about 9 hours for 4 of these type of questions. Should I assign?
    User_25737 | Apr 23, 2021, 22:07 PM
  • Yes
    WritingPartner | Apr 23, 2021, 22:07 PM
  • How long per question? 1 page?
    WritingPartner | Apr 23, 2021, 22:07 PM
  • Just as long as you answer each questions correctly
    User_25737 | Apr 23, 2021, 22:11 PM
  • Great
    WritingPartner | Apr 23, 2021, 22:11 PM
  • Should I assign right now?
    User_25737 | Apr 23, 2021, 22:11 PM
  • Yes
    WritingPartner | Apr 23, 2021, 22:12 PM
  • Are you still assigning me?
    WritingPartner | Apr 23, 2021, 22:16 PM
  • Hello
    WritingPartner | Apr 23, 2021, 22:20 PM
  • Yes
    User_25737 | Apr 23, 2021, 22:21 PM
  • I have assigned you
    User_25737 | Apr 23, 2021, 22:21 PM
  • Thank you. Please upload a document or pdf containing all the questions
    WritingPartner | Apr 23, 2021, 22:21 PM
  • Okay I will upload a word document wit the rest of the questions in 20 minutes. For now please start on question 1 that I already sent. Thanks!
    User_25737 | Apr 23, 2021, 22:23 PM
  • Alternatively you can copy and past here
    WritingPartner | Apr 23, 2021, 22:23 PM
  • QUESTION 2 (25 pts) Concession prices at movie theaters is a frequent topic of discussion between moviegoers. One typical example is the price of popcorn at movie theaters. To make this question more concrete, consider the price of a large bucket of popcorn at AMC theaters: $9.00. It is possible to purchase the same amount of popcorn at a super market chain for half the price: $4.50. a. Movie theaters typically don’t let moviegoers bring food into theaters. But many moviegoers enjoy eating popcorn and sipping soda when watching their favorite movie. Considering these two facts, is the demand for popcorn at movie theaters price elastic or inelastic? (In terms of economics, does the quantity demanded for popcorn decrease more than 1% when the movie theater increases the price of popcorn by 1 %?) (5 pts)
    User_25737 | Apr 23, 2021, 22:26 PM
  • b. Outside the movie theater there are many alternative places where popcorn can be purchased. Consider the price of popcorn at the super market chain, QFC. Suppose QFC would like to do the same thing as AMC theaters and charge $9.00 for popcorn. What would happen to quantity demanded for popcorn at QFC? Is the demand for popcorn at a super market price elastic or inelastic? (5 pts) c. What happens to AMC theaters’ revenue from selling popcorn if they increase the price of popcorn by 1 %? Does their revenue increase or decrease? (Recall revenue is equal to price times quantity sold.) If their revenue increases in this case, can AMC keep on increasing the price of popcorn forever to increase their revenue? (Hint: The price elasticity of demand is not the same at all points along the demand curve.) (10 pts)
    User_25737 | Apr 23, 2021, 22:26 PM
  • d. What happens to QFC’s revenue from selling popcorn if they increase the price of popcorn by 1 %? Does their revenue increase or decrease? (5 pts)
    User_25737 | Apr 23, 2021, 22:27 PM
  • QUESTION 3 (25 pts) Consider the market for oranges in the US. Suppose we begin with an equilibrium in this market, where quantity produced is equal to quantity demanded, which is equal to 5 million tons of oranges. Further suppose the price of a pound of oranges is $2.50. a. Illustrate this equilibrium by using supply and demand curves. Don’t forget to label the axes, show the equilibrium quantity and the equilibrium price. (5 pts) b. Now suppose a tropical storm hits Florida destroying 1 million tons of oranges in citrus farms. What happens to the supply curve? What happens to the equilibrium price? Do we have a shortage or a surplus of oranges in the wake of the tropical storm? Show by using your plot from part a. (5 pts)
    User_25737 | Apr 23, 2021, 22:27 PM
  • c. How does the market for oranges transition to its new equilibrium? In the new equilibrium, is the price of oranges higher or lower than the initial equilibrium price, $2.50? Is the new quantity demanded higher or lower than 5 million tons? (5 pts) d. Now suppose the same thing happens in Venezuela, where there is central planning. A tropical storm hits the citrus farms in Venezuela. Citrus farmers would like to adjust their prices following the storm but they have to wait until the next meeting of the Central Planning Committee, since the Central Planning Committee is the only one who can change the prices of oranges. Can the Venezuelan people enjoy as many oranges as they would like? Can the market for oranges in Venezuela transition to a new equilibrium on its own? (10 pts)
    User_25737 | Apr 23, 2021, 22:27 PM
  • QUESTION 4 (25 pts) Price of oil increased significantly during 1970s due to two major events. First the oil embargo from Arab countries in the Middle East to Western countries following their support for Israel during the Yom Kippur War (1973) and second the Iranian Revolution in 1979. Oil is refined to produce gasoline for cars and as the price of oil increased during 70s, the cost of producing gasoline went up as well. These two events during 70s are commonly known as “Oil Shocks”. More generally, the “Oil Shocks” are examples of what are termed negative supply shocks that you will learn in your macroeconomics courses. a. Illustrate the effect of the “Oil Shocks” on the market for gas by using supply and demand curves. (Recall oil is an input used to produce gas.) Do the oil shocks produce a surplus or shortage for gas? (10 pts)
    User_25737 | Apr 23, 2021, 22:28 PM
  • b. In the face of sky-rocketing gas prices, Nixon administration in 1973 imposed a maximum price on gas. (The depressed pump prices imposed during 1973 went through several iterations during 80s.) The price ceiling on gas brought about long lines at gas stations and a shortage of gas during 70s. Now illustrate this binding price ceiling on gas in your plot from part a. (10 pts)
    User_25737 | Apr 23, 2021, 22:28 PM
  • c. Oil is a curious commodity in that its price affects the cost of transportation of people and other commodities. Hence when there is an “Oil Shock”, it doesn’t only increase the price of gas, but through the price of gas it also increases the price of transporting everything. Since the great majority of goods in a modern economy are not consumed at the location they are produced and have to transported, “Oil Shocks” increased the cost of transporting everything in 70s, creating higher costs for producers. Now again consider the market for oranges. Illustrate what happened to the market for oranges in the US during 70s following the “Oil Shocks”. What happened to the price of oranges? (5 pts)
    User_25737 | Apr 23, 2021, 22:29 PM
  • BONUS TRIVIA: US doesn’t only consume oil but also produces and exports it (ie: sells its oil to foreign countries). In 1977, the Carter administration imposed a ban on oil exports from the US to foreign countries, because they were concerned with the increasing price of oil. This ban was only recently lifted in 2015 after almost 40 years thanks to the shale oil revolution here in the United States.
    User_25737 | Apr 23, 2021, 22:29 PM
  • Okay, that is all the questions. It would be best if you could put them in order on a word document. Thank you so much!
    User_25737 | Apr 23, 2021, 22:29 PM
  • Progress uploaded.
    WritingPartner | Apr 24, 2021, 04:56 AM
  • Thanks! About one hour and 50 minutes left
    User_25737 | Apr 24, 2021, 05:05 AM
  • I'm done. Kindly check the second file and release the funds. Thank you
    WritingPartner | Apr 24, 2021, 05:58 AM
  • thank you so much for your hard work!!!
    User_25737 | Apr 24, 2021, 06:28 AM
  • i will release the funds now.
    User_25737 | Apr 24, 2021, 06:28 AM
  • will be in contact in the future for other assignments as well!
    User_25737 | Apr 24, 2021, 06:28 AM
  • You're welcome. I will be waiting. Hope you rate me 10/10 as well
    WritingPartner | Apr 24, 2021, 06:29 AM
  • hi, i have anaother managerial economics quiz, can you help me?
    User_25737 | May 22, 2021, 02:12 AM
  • Hey friend. Yes. I would like to help
    WritingPartner | May 22, 2021, 02:25 AM
  • okay perfect!
    User_25737 | May 22, 2021, 02:27 AM
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  • Hello, I need this assignment done by tonight. Can you help?
    User_25737 | Apr 23, 2021, 21:54 PM
  • okay upload the assignments
    AcademicWhiz | Apr 23, 2021, 21:56 PM
  • Suppose the hypothetical country Cascadia can only produce two goods: furniture and paper. Further suppose there is only one factor of production, timber, which can be used to produce either furniture or paper in Cascadia. For the purpose of this question, you can assume there is only one kind of timber and it is equally good when producing furniture or paper. (ie: Cascadia doesn’t have any specialized factors of production.) If Cascadia allocates all of their timber supply to furniture production, they can produce 200,000 pieces of furniture. Alternatively, if they allocate all of their timber supply to paper production, they can produce 400,000 tons of paper. a.Draw the PPF (production possibilities frontier) for Cascadia. Make sure to label both axes. Also don’t forget to show the greatest amount of paper and furniture they can produce. (4 pts) b.What is the opportunity cost of producing one piece of furniture for Cascadia?
    User_25737 | Apr 23, 2021, 21:59 PM
  • c.What is the opportunity cost of producing one ton of paper for Cascadia? (4 pts) d.Consider the production point 100,000 pieces of furniture and 200,000 tons of paper. Show this production point on your plot from part a. Is this production point feasible? Is it efficient? (4 pts) e.Now consider the production point 150,000 pieces of furniture and 200,000 tons of paper. Show this production point on your plot from part a. Is this production point feasible? (4 pts) f.If the production point in part e is not feasible, how can Cascadia make it feasible? (5 pts)
    User_25737 | Apr 23, 2021, 21:59 PM
  • That’s question 1. I have 4 total questions
    User_25737 | Apr 23, 2021, 21:59 PM
  • they require more time
    AcademicWhiz | Apr 23, 2021, 22:02 PM
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  • Hi, can you complete this assignment by today?
    User_25737 | Apr 23, 2021, 21:40 PM
  • I can give you an example question before you accept
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  • Hi, Yes kindly send it
    exclusivewriter | Apr 23, 2021, 21:43 PM
  • Suppose the hypothetical country Cascadia can only produce two goods: furniture and paper. Further suppose there is only one factor of production, timber, which can be used to produce either furniture or paper in Cascadia. For the purpose of this question, you can assume there is only one kind of timber and it is equally good when producing furniture or paper. (ie: Cascadia doesn’t have any specialized factors of production.) If Cascadia allocates all of their timber supply to furniture production, they can produce 200,000 pieces of furniture. Alternatively, if they allocate all of their timber supply to paper production, they can produce 400,000 tons of paper. a.Draw the PPF (production possibilities frontier) for Cascadia. Make sure to label both axes. Also don’t forget to show the greatest amount of paper and furniture they can produce. (4 pts) b.What is the opportunity cost of producing one piece of furniture for Cascadia? (4 pts)
    User_25737 | Apr 23, 2021, 21:44 PM
  • c.What is the opportunity cost of producing one ton of paper for Cascadia? (4 pts) d.Consider the production point 100,000 pieces of furniture and 200,000 tons of paper. Show this production point on your plot from part a. Is this production point feasible? Is it efficient? (4 pts) e.Now consider the production point 150,000 pieces of furniture and 200,000 tons of paper. Show this production point on your plot from part a. Is this production point feasible? (4 pts) f.If the production point in part e is not feasible, how can Cascadia make it feasible? (5 pts)
    User_25737 | Apr 23, 2021, 21:44 PM
  • That’s question 1
    User_25737 | Apr 23, 2021, 21:44 PM
  • How long do you need it done?
    exclusivewriter | Apr 23, 2021, 21:48 PM
  • It’s due at midnight for me which is in 9 hours. It’s 4 questions similar to the one I sent
    User_25737 | Apr 23, 2021, 21:49 PM
  • I can't manage to finish in that time. This requires at least a day to do it perfecly
    exclusivewriter | Apr 23, 2021, 21:52 PM
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  • Suppose the hypothetical country Cascadia can only produce two goods: furniture and paper. Further suppose there is only one factor of production, timber, which can be used to produce either furniture or paper in Cascadia. For the purpose of this question, you can assume there is only one kind of timber and it is equally good when producing furniture or paper. (ie: Cascadia doesn’t have any specialized factors of production.) If Cascadia allocates all of their timber supply to furniture production, they can produce 200,000 pieces of furniture. Alternatively, if they allocate all of their timber supply to paper production, they can produce 400,000 tons of paper. a.Draw the PPF (production possibilities frontier) for Cascadia. Make sure to label both axes. Also don’t forget to show the greatest amount of paper and furniture they can produce. (4 pts) b.What is the opportunity cost of producing one piece of furniture for Cascadia? (4 pts)
    User_25737 | Apr 23, 2021, 21:29 PM
  • c.What is the opportunity cost of producing one ton of paper for Cascadia? (4 pts) d.Consider the production point 100,000 pieces of furniture and 200,000 tons of paper. Show this production point on your plot from part a. Is this production point feasible? Is it efficient? (4 pts) e.Now consider the production point 150,000 pieces of furniture and 200,000 tons of paper. Show this production point on your plot from part a. Is this production point feasible? (4 pts) f.If the production point in part e is not feasible, how can Cascadia make it feasible? (5 pts)
    User_25737 | Apr 23, 2021, 21:29 PM
  • That is question 1
    User_25737 | Apr 23, 2021, 21:29 PM
  • Can you complete 4 of these type of questions? Let me know
    User_25737 | Apr 23, 2021, 21:34 PM
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