davenport econ625 full course [ all quiz all week discussion all blog ] Question # 00008248 Posted By: spqr Updated on: 02/10/2014 03:14 PM Due on: 02/27/2014 Subject Economics Topic General Economics Tutorials: 1 See full Answer Question Question·At what point can a firm achieve a profit maximizing quantity?· Question 23.5 out of 3.5 pointsWhich characteristic does not describe a perfectly competitive market?· Question 33.5 out of 3.5 pointsThe basic law of demand says that all other things being the same, _______________________.· Question 43.5 out of 3.5 pointsWhich of the following best describes marginal revenue?· Question 53.5 out of 3.5 pointsSuppose a factory is producing 100 units and the price of each unit is $10.If raising the price to $12 per unit results in a drop in sales of 12 units, what is the price elasticity of demand, ??· Question 63.5 out of 3.5 pointsWhich of the following did not contribute to the high transaction related risks for U.S. potato sales in 1840?· Question 73.5 out of 3.5 pointsWhat was a key contribution to the dominance of the family-run small business in 1840?· Question 83.5 out of 3.5 pointsWhat is throughput?Response Feedback:· Question 93.5 out of 3.5 pointsWhat was one of the first plant/factory types to use the “American System” of manufacturing?Response Feedback:Incorrect· Question 103.5 out of 3.5 pointsWhat economics game theory concept is demonstrated by the Erie Canal public works project?week 2 Question·Which of the following is a characteristic of economies of scale?· Question 23.5 out of 3.5 pointsWhat is the minimum efficient scale (MES) of production?· Question 33.5 out of 3.5 pointsWhich of the following best describes economies of scope?· Question 43.5 out of 3.5 pointsWhich of the following is not a major source of scale or scope economy?· Question 53.5 out of 3.5 pointsWhich of the following is not a product specific fixed cost?· Question 63.5 out of 3.5 pointsWhat kind of economies come from reductions in cost due to adoption of technology that has high fixed costs, but lower variable costs?· Question 73.5 out of 3.5 pointsWhat are economies of density as referred to in the airline industry?Response Feedback:..· Question 83.5 out of 3.5 pointsWhich of the following does not benefit from the cube-square rule’s contribution to economies of scale?· Question 93.5 out of 3.5 pointsWhich of the following is not a reason a supplier might seek to sell in bulk?· Question 103.5 out of 3.5 pointsWhat is the approximate observed median learning curve slope for typical firms?week 3Question·Which of the following is not a principal/agent relationship?· Question 23.5 out of 3.5 pointsWhich of the following management actions reflects agency problems due to the fact that information held by the agent is hard to observe?· Question 33.5 out of 3.5 pointsWhat term describes situations in which the aspects of the agent’s action that are important to the principal cannot be observed?· Question 43.5 out of 3.5 pointsWhat term describes situations in which aspects of the productive environment that are important to the principal cannot be observed?· Question 53.5 out of 3.5 pointsWhich of the following solutions has addressed coordination problems in the tin market?· Question 63.5 out of 3.5 pointsWhat term best describes a payment above and beyond the expected outcome of a gamble which must be offered to a risk-averse individual to willingly accept the gamble?· Question 73.5 out of 3.5 pointsWhich of the following terms best describes a contract that guarantees an agent some payment, but provides enough incentive so that the agent does not shirk?· Question 83.5 out of 3.5 pointsWhich of the following statements is least true regarding the use of incentive pay for sales employees?· Question 93.5 out of 3.5 pointsWhich of the following terms best describes the principle stating that when allocating effort among a variety of tasks, employees will tend to exert more effort toward those tasks that are rewarded?· Question 103.5 out of 3.5 pointsWhat term refers to the practice in a multidivisional firm where orders from other parts of a company are rushed to be filled at the end of each month (allowing divisions filling the orders to recognize revenue but cause inventory problems)?week 4Question·Which U.S. agency is responsible for preventing anti-competitive conduct?· Question 23.5 out of 3.5 pointsWhat criterion developed by the DOJ is used to identify all potential competitors within the market?· Question 33.5 out of 3.5 pointsWhich of the following is not a characteristic of substitute products X and Y?· Question 43.5 out of 3.5 pointsWhat empirical method generally is used to measure the degree to which products substitute for each other?· Question 53.5 out of 3.5 pointsWhat is defined by the number and size distribution of the firms in a market?· Question 63.5 out of 3.5 pointsWhat term refers to situations in which firms can sustain prices in excess of those that would arise in a non-cooperative single-shot price or quantity-setting game?· Question 73.5 out of 3.5 pointsWhat type of cooperation-inducing strategy is defined as one so compelling that that a firm would expect all other firms to adopt it?· Question 83.5 out of 3.5 pointsWhich of the following would not help facilitate coordination of pricing across firms in an industry?· Question 93.5 out of 3.5 pointsWhy might a firm not be able to react quickly to competitors’ pricing moves?· Question 103.5 out of 3.5 pointsWhy do price-sensitive buyers tend to harm cooperative pricing in a market?week 5Question·Which of the following does not tend to affect the threat of entry?· Question 23.5 out of 3.5 pointsWhich of following factors should be considered when assessing complements and substitutes?· Question 33.5 out of 3.5 pointsWhy are suppliers in a competitive upstream market said to have “indirect power”?· Question 43.5 out of 3.5 pointsWhat term refers to the ability of individual customers to negotiate purchase prices that extract profits from sellers?· Question 53.5 out of 3.5 pointsWhich of the following factors requires the least consideration when assessing supplier power relative to the downstream industry it sells to?· Question 63.5 out of 3.5 pointsWhen multiple firms’ price-quality positions line up along the same indifference curve offering a consumer the same amount of consumer surplus, what term describes the situation?· Question 73.5 out of 3.5 pointsWhich of the following terms is a concept, developed by Michael Porter, which describes the activities within firms and across firms that add value along the way to the ultimate transacted good or service?· Question 83.5 out of 3.5 pointsWhich of the following is a resource?· Question 93.5 out of 3.5 pointsWhich of the following is false with respect to the strategy of cost leadership?Response Feedback:· Question 103.5 out of 3.5 pointsUnder what type of strategy does a firm either offer a narrow set of varieties, serve a narrow set of customers, or do both?week 6Question·What term describes the situation where a firm does exceedingly well due to good luck or exceedingly poorly due to bad luck, but returns to normal performance following?· Question 23.5 out of 3.5 pointsWhat did Vonage do to deflect the impact of the intense price competition in the U.S.?· Question 33.5 out of 3.5 pointsWhich of the following is least likely a characteristic of profit persistence in an industry?· Question 43.5 out of 3.5 pointsWhich of the following statements is least true with regards to Dennis Mueller’s study of profit persistence?· Question 53.5 out of 3.5 pointsWhat term best describes clusters of activities that a firm does especially well in comparison with other firms?· Question 63.5 out of 3.5 pointsWhich of the following terms best describes an idea, developed by Gary Hamel and C. K. Prahalad, which means a fundamental focus of a firm’s strategy that commits it well beyond its current resource profile?· Question 73.5 out of 3.5 pointsWhich of the following terms best describes an idea, developed by Gary Hamel and C. K. Prahalad, which combines commitment to the firm’s ambitions with the flexibility to change with circumstances?Response Feedback:Correct. Well done. Atta-go. Cool...· Question 83.5 out of 3.5 pointsWhich of the following terms best describes the situation when sources of competitive advantage in an industry are being created and eroded at an increasingly rapid rate?· Question 93.5 out of 3.5 pointsWhich of the following is a possible explanation for the reason that American steelmakers continued to invest in less efficient OH technology instead of newer more efficient BOF technology throughout the 1950s?· Question 103.5 out of 3.5 pointsWhich of the following terms best describes a phenomenon whereby, despite equal innovative capabilities, an entrant is willing to spend more to develop an innovation?week 7Question 13.5 out of 3.5 pointsWhich of the following is an example of informal regulations with respect to a firm’s social context?· Question 23.5 out of 3.5 pointsWhat aspect(s) of internal context are important in situations of chronic goal conflict?· Question 33.5 out of 3.5 pointsWhich of the following terms best describes an individual actor’s ability to accomplish his or her goals by using resources obtained through non-contractual exchange relationships?· Question 43.5 out of 3.5 pointsWhat term best describes exchanges of goods, services, or promises on terms that take place outside of traditional economic markets and are not enforceable in court?· Question 53.5 out of 3.5 pointsWhich of the following terms best describes ability that stems from the explicit contractual decision-making and dispute-resolution rights that a firm (or some other source) grants to an individual?· Question 63.5 out of 3.5 pointsWhich of the following terms best refers to the exercise or use of power in a given situation by an individual?a) Controlb) Authorityc) Cultured) Influencee) Contracts[None Given]· Question 73.5 out of 3.5 pointsWhat is the source from which a person derives legitimate or formal power?· Question 83.5 out of 3.5 pointsWhat does Chester Barnard mean when he uses the term zone of indifference?· Question 93.5 out of 3.5 pointsWhich of the following terms best describes a transfer between two or more parties or resources, or rights to control resources, which occurs outside the terms of a market context?Response Feedback:Correct!· Question 103.5 out of 3.5 pointsWhat term does Ronald Burt use to describe relationships in social networks in which one actor is the critical link between individuals or entire groups of actors?all week discussionsWeek 1 discussionPlease take a moment to watch the above clip from "A Beautiful Mind", the story of John Nash (you'll need to copy and paste the link). For this week's assignment, please take a moment to review the above, our text, and your own research to find other examples of game theory in real life, or to comment upon the dilemma that the movie outlines.Please remember that your submission, due on Day 3, should have two sources, a brief synopsis of what how each of the sources informs the issue, the veracity of each source, and the questions that it raises or answers. You should then respond to your peers three times on three different days with a minimum of 250 words each. The rubric, located in the syllabus section, will assist you in completing the assignment.Week 2 discussionThe last five years have seen a number of government interventions in operations deemed "too bit to fail". Your research should be directed towards a company or a commentary where this is discussed.Please remember that your submission, due on Day 7, should have two sources, a brief synopsis of what how each of the sources informs the issue, the veracity of each source, and the questions that it raises or answers. You should then respond to your peers three times on three different days with a minimum of 250 words each. The rubric, located in the syllabus section, will assist you in completing the assignment.Week 3 discussionExecutive CompensationThe above chart shows the growth of the average CEO pay over the period 1990 to 2005. The head of a typical public company made $ 9.7 million dollars in 2011. There are many who see too weak a link between CEO pay and performance. Others object to the gap between executive compensation and the average worker. In your research this week, explore either or both of these issues.Please remember that your submission, due on Day 3, should have two sources, a brief synopsis of what how each of the sources informs the issue, the veracity of each source, and the questions that it raises or answers. You should then respond to your peers three times on three different days with a minimum of 250 words each. The rubric, located in the syllabus section, will assist you in completing the assignment.Week 4 discussionGreat Ideas from (mostly) dead EconomistsThis week's assignment is based on the Intellectual Biography of the economist you were assigned. Please attach your work through the Week 4 materials area, and cut and paste it here. Your discussion criteria is to engage with the other economists as your economist would have engaged.Week 5discussionStrategyFor this week's assignment, find a company that has changed strategy. Your research should focus on a description of the change, the economic impact of the change, commentary about it, or the results of the change.Please remember that your submission, due on Day 3, should have two sources, a brief synopsis of what how each of the sources informs the issue, the veracity of each source, and the questions that it raises or answers. You should then respond to your peers three times on three different days with a minimum of 250 words each. The rubric, located in the syllabus section, will assist you in completing the assignment.Week 6 discussionFiskars, since 1649The manufacturer of the above products (and many others) has been in business over 350 years. Your research should focus on other companies with longevity of at least 100 years and the economic reasons for this phenomena.Please remember that your submission, due on Day 3, should have two sources, a brief synopsis of what how each of the sources informs the issue, the veracity of each source, and the questions that it raises or answers. You should then respond to your peers three times on three different days with a minimum of 250 words each. The rubric, located in the syllabus section, will assist you in completing the assignment.886017Week 7 discussionGolden or Silver Handcuffs?The news has been full of commentary regarding companies and company officers engaged in illegal or unethical behavior. Your research this week should focus on the corporate setting which allows or encourages malfeasance or questionable acts.Please remember that your submission, due on Day 3, should have two sources, a brief synopsis of what how each of the sources informs the issue, the veracity of each source, and the questions that it raises or answers. You should then respond to your peers three times on three different days with a minimum of 250 words each. The rubric, located in the syllabus section, will assist you in completing the assignment. Rating: 4.9/5
Solution: davenport econ625 full course [ all quiz all week discussion all blog ]