Day: April 27, 2018

PRM 524 – Applied Project Management Case Assignment 5 – Resources and Instructions 1. Access the Resource View of your project. 2. Add the following Standard Rate for each of the employees or offices below (you must also enter Overtime rates for Pindar and Estaban): a. John – $35/hr b. Mike – $35/hr c. Nancy – $35/hr d. Dave – $35/hr e. Dr. Jackson – $65/hr f. PMO – $45/hr g. Project Manager (student) – $40/hr h. Pindar – $55/hr std. – $82.50/hr overtime i. Emilio – $55/hr j. Pam – $35/hr k. Estaban – $55/hr std. – $82.50/hr overtime l. Craig – $35/hr 3. Enter the following material costs to your sheet at the bottom. a. Resource Name:Hardware – Type:Material– Material:Bundles b. Resource Name:Software – Type:Material– Material:Flat Fee 4. Attach 3 Hardware Bundles and 1 Software Flat Fee to the Procure Hardware/Software task within the Execution phase. 5. Generate a Resource Cost Overview report. Save as a PDF file named lastnameCOST1. 6. Generate a Task Cost Overview report. Save as a PDF file named lastnameCOST2.

Price Discrimination 2
1. Many pharmaceuticals produced in the United States are sold at lower prices in other countries than in the United States. Proposed legislation would allow drugs sold by U.S. firms in Canada to be re-imported to the United States at prices available in Canada. If such legislation passed, which of the following would most likely occur?
A. The profits earned by pharmaceutical companies will not be affected because their patents give them monopoly power in supplying many types of drugs.
B. The price at which pharmaceuticals are sold in the United States will fall, and the price at which they are sold in Canada will rise.
C. The prices at which pharmaceuticals are sold in the United States will fall to the levels that now exist in Canada.
2. The EarthCom Company prices its wireless service differently in the two market segments it serves even though the cost of adding a new customer is the same in each segment. Market research has shown that EarthCom can increase its profits by price¬discriminating, rather than charging the same price to all customers. Currently, the extra revenue that EarthCom obtains from a monthly subscription is $25 in market one and $15 in market two. (Note that these figures are marginal revenues, not prices.) Which of the following statements is most likely correct?
a. EarthCom’s price¬discrimination policy is not maximizing EarthCom’s profits.
b. EarthCom’s price¬discrimination policy is probably maximizing its profits.
c. From the information provided, we can’t determine whether EarthCom’s pricing policy is maximizing its profits.
3. After the patent on a drug has expired, the same pharmaceutical is often sold for very different prices under its brand¬name label and as a generic (even by the same company). True or False: This practice does not constitute price discrimination because all customers have the opportunity to buy the lower¬priced generic drug. 4. An advertisement for a motel chain says that if you stay for three nights at the motel you can stay a fourth night for free. This represents a 25% reduction in price for people who stay four nights. Which of the following statements is more likely to be correct?
a. This practice represents market segmentation for the motel. It lowers the price for people whose demand for rooms is more sensitive to price.
b. If the motel were filled to capacity, it wouldn’t run this kind of "sale" on rooms. This practice is just off¬peak pricing, not price discrimination.
5. You own the Whitney Farm in central Iowa. You grow and sell corn as do all the neighboring farmers. You and your fellow Iowa farmers grow essentially the same corn, most of which is bought by ranchers as feed for their livestock. Your experience tells you that some ranchers raise livestock that eat only corn while other ranchers raise livestock that will eat a number of different grains. In other words, different types of ranchers have different demands for corn. Which of the following is most likely to occur, assuming you are a profit¬seeker?
a. You will charge a lower price to the ranchers who have a less price¬elastic demand for corn and a higher price to those who have a more price¬elastic demand.
b. You will charge a higher price to the ranchers who have a less price¬elastic demand for corn and a lower price to those who have a more price¬elastic demand for corn.
c. You would like to price¬discriminate but you don’t believe that it willbe feasible in a market in which there are so many corn farmers.
6. The graph below illustrates the demand for rooms at The Open Arms Hotel. It shows the total demand for rooms as well as the demand in both market segments, A and B. All rooms in the hotel are identical. The graph also shows the corresponding marginal revenue curves and marginal cost, which is $40 per room. 6.1 If the management of The Open Arms Hotel decided to charge the same price for all rooms, which of the following prices would it charge to maximize its profits?
a. $80
b. $160
c. $120
d. $40
e. $100
6.2 If hotel management decides to price all rooms at the same price and tries to maximize its profits, what will be the marginal revenue in each of the two market segments, A and B?
a. $40 in A; $40 in B
b. $100 in A; $160 in B
c. $80 in A; $140 in B
d. $120 in A; $120 in B
6.3 Suppose that hotel management is able to price¬discriminate and that it decides to rent rooms to consumers in segments A and B at different prices. What price would it charge in each of the segments? (Assume that management price¬discriminates in a way that maximizes profit and that people who are eligible for the lower price cannot "resell" to those who are charged a higher price.)
a. 50 in A; 130 in B
b. 100 in A, 160 in B
c. 120 in A, 120 in B
d. 110 in A, 130 in B
6.4 If hotel management decides to price¬discriminate in a manner that maximizes profit, what will be the marginal revenue in each of the market segments, A and B?
a. 120 in A, 120 in B
b. 100 in A, 160 in B
c. 40 in A, 40 in B
d. 80 in A, ¬40 in B
6.5 Suppose that the management of The Open Arms Hotel pursues its price¬
discrimination strategy rather than charge a uniform price for all rooms rented. This policy will result in renting more rooms in one segment and fewer in the other. Which of the following room reallocations will occur?
a. 40 from B and 40 to A
b. 20 from A and 40 to B
c. 20 from A and 20 to B
d. 40 from B and 20 to A

Assignment: Moral Hazard
Overview
In economic theory, a moral hazard is a situation where a party will have a tendency to take risks because the costs that could result will not be felt by the party taking the risk. In other words, it is a tendency to be more willing to take a risk, knowing that the potential costs or burdens of taking such risk will be borne, in whole or in part, by others.
For this assignment, you will explore a corporate scandal that has occurred in the past 5 years. You will examine moral hazard and the relationship with excessive risk taking by management. Action Items¬:
Write 3¬page papers that includes the following sections. Format the paper according to the cademic Paper A Guidelines. 1. Identify a corporate scandal that has occurred in the last 5 a. years Discusses the corporate scandal chosen and the moral hazard involved.
b. Discusses the excessive risk taking by management that lead to the scandal.
c. d. Provides possible solutions to mitigate the moral hazard. 1. Check your paper with Grammarly.com. Modify your paper as needed. 2. Submit your paper to turnitin.com. Your professor will provide the necessary access information so you can upload your paper to the class assignment site.

What are the four basic financial statements? What is the primary purpose of each of the four basic financial statements? In your opinion, which financial statement is the most important? Explain why.

The four basic financial statements are income, retained earnings, balance, and statement of cash flows. Financial statements provide a means for the business to judge the results of their operational or financial performance over a period of time. Income statements provide investors and the business a description of how profitable the business is performing within a specific period in time. Retained earnings are income that is left in the company (reinvested) that was not distributed to the stockholders. This statement explains why the retained earnings increased or decreased during a specific period in time. Balance sheets relay the financial status of the business at a specific period in time. The balance sheet lists the business assets, liabilities, and stockholder equity or assets = liabilities + stockholder equity..

Content:
You are required to write three distinct short research papers involving an analysis of a current macroeconomic topic since 2011. Often the best way is to look at current macroeconomic issues in The Economist, Newsweek, or another news magazine, or a newspaper such as The Wall Street Journal, The New York Times, the Chicago Tribune or Economic journals from the WCC library. Once you have a particular topic in mind, you will be able to use Internet sources, use the WCC library resources, efficiently to find further information about your topic. It is especially important that you use economic analysis, concepts learned from text book to explain the topic in detail and do not merely describe the content of the articles!

Structure:
Your papers must include:
• Title Page: Includes title, name, and date.
• Introduction: This section should explain why the topic is important, why you think the topic is worth researching.
• Economic Analysis: This section contains an in depth economic analysis of the article’s content using concepts from the text book.
• Conclusion: This section should contain a brief summary of the articles plus any discussion or comments that you may have on the topic and a conclusion that proves that the topic was worth researching.
• References: At the end, cite all sources used in your analysis including the source of your articles, any economics textbook you may have consulted, and any Internet sources. Minimum of three required.
• You will be graded on the quality of the paper, your adherence to both content and structure of the paper.
• The Paper should be at-least 4-6 pages in length (excluding cover page), you may add reasonably sized diagrams and tables to supplement your paper. Paper must be typed in 12 font sizes and double-spaced. APA or MLA format.
• Article: Attach a copy of your article(s) to the paper if possible.

Name: Economics for Managers Date: 1. Comparative advantage explains how two nations can benefit from trade. True False Explain your answer 2. Externalities are created when parties not involved in an economic transaction are affected by it. True False Explain your answer 3. Opportunity cost is the value of the next best alternative to a given choice. True False Explain your answer 4. It is impossible for both nations to gain when trading with one other. True False Explain your answer 5. In economics the true cost of making a choice is the value of what must be given up. True False Explain your answer 6. Some college students think that because a college degree greatly increases their earning potential there is no opportunity cost of attending college. How would an economist look at the matter? a. There is no opportunity cost, assuming that future earnings actually increase as expected. b. The opportunity cost is much less than it would appear, assuming that earnings increase. c. Opportunity cost is a meaningless concept in this situation. d. The college students are completely correct in all respects. e. There is still an opportunity cost, even if it is justified by higher future earnings. 7. The term opportunity cost refers to the a. value of what is gained when a choice is made. b. difference between the value of what is gained and the value of what is forgone when a choice is made. c. value of what is forgone when a choice is made. d. direct costs involved in making a choice. 8. If an airline company has several empty seats on a flight and the full price of an air ticket is $500 and the marginal cost per passenger is $100, then it will be profitable for the airline to a. charge a stand-by passenger no less than the full fare of $500. b. charge a stand-by passenger less than $100. c. charge a stand-by passenger more than $500. d. charge a stand-by passenger more than $100. e. fill the seats at the last minute for any price. 9. Inputs, or factors of production, include a. labor. b. machinery. c. natural resources. d. all of the above. 10. A recession can best be defined as a period of time in which a. total output of the economy falls. b. total output of the economy rises very slowly. c. total unemployment falls. d. total international trade fails to rise. e. Both a and c 11. An industry can be defined as a. the group of all firms that sell a product. b. any company that produces and sells something. c. the set of buyers of a particular good or service. d. the top companies that sell something. 12. The production possibilities frontier has a tendency to bow outward from the origin. True False 13. The central question in economics is how to a. make the best use of scarce resources. b. use government planning agencies. c. induce people to want less. d. increase human knowledge. 14. One popular definition of economics is the study of a. how scarcity increases opportunities to meet ends. b. how markets overcome scarcity. c. one goal and three tasks. d. how to use limited means to meet unlimited wants. e. wants versus needs. 15. An optimal decision is one that chooses a. the most desirable alternative among the possibilities permitted by the resources available. b. the lowest cost method of meeting goals, without regard to quality or any other feature. c. among various possible goals and offends no one, so that all are equally happy. d. among equally important goals, and thereby avoids the “indispensable necessity” syndrome. e. among possible goals in such a way that spends as little money as possible. .jpg”> 16. . In Figure 3-2, the production possibilities frontier has a bowed-out shape because of the law of a. decreasing costs. b. increasing costs. c. demand. d. comparative advantage. 17. Adam Smith noted that people are adept at which of the following? a. Confusing themselves if given the chance. b. Proving the truth of “Murphy’s Law.” c. Denying themselves for the sake of others. d. Pursuing their own self-interest. e. All of the above are correct. Figure 5-3 .jpg”> 18. Assume the market consists of three consumers with the demand curves in Figure 5-3. At a price of 1, the total market demand is a. 40. b. 80. c. 140. d. 150. 19. The law of demand states that as the price a. increases, total quantity demanded will increase. b. decreases, total quantity demanded will decrease. c. increases, total quantity demanded will decrease. d. increases, total quantity demanded will stay the same. 20. Which of the following statements is correct? a. The “law” of diminishing marginal utility implies that demand curves slope upward and to the right. b. If the price of a good falls, the utility-maximizing consumer will assure that marginal utility rises. c. If the price of a good falls, the consumer will purchase more of the good in order to maximize total utility. d. MU and demand have different underlying consumer behavior assumptions. 21. If the price of gasoline rises by 20 percent and consumption of gasoline falls 5 percent, a. demand is elastic. b. demand is unit-elastic. c. demand is inelastic. d. elasticity of demand cannot be calculated. .jpg”> 22. In Figure 6-2, the price elasticity of demand (dropping all minus signs) is ____ between P = 4 and P = 6 than between P = 10 and P = 12 because between the lower set of prices the percentage change in price is ____. a. smaller; smaller b. smaller; greater c. greater; smaller d. greater; greater 23. From Figure 6-2, we can infer that demand is ____ between P = 12 and P = 10 and ____ between P = 6 and P = 4. a. elastic; elastic b. elastic; inelastic c. inelastic; elastic d. inelastic; inelastic 24. The price elasticity of a vertical demand curve is always a. infinitely large. b. zero. c. one. d. increasing as price increases. 25. A rightward shift in the demand curve for a product will ordinarily result from a. a decrease in the advertising budget. b. a decrease in the price of a competing product. c. an increase in consumer income. d. an increase in the price of a complementary good. 26. The following table contains information regarding price and output for a firm. For each point except the first, calculate the elasticity between it and the point above. Price Quantity Elasticity $7 10 _____ 6 20 _____ 5 30 _____ 4 40 _____ 3 50 _____ 2 60 _____ 1 70 _____ Price Quantity Elasticity $7 10 (None) 6 20 4.33 5 30 2.2 4 40 1.286 3 50 .7778 2 60 .4545 1 70 .231 27. A macroeconomist would concentrate on which of the following issues? a. the price of pizzas b. the profits of the IBM Corporation c. the unemployment rate in Germany d. the market for hot dogs 28. The clearest sign of economic growth is a(n) a. increase in nominal GDP. b. increase in real GDP. c. decrease in nominal GDP. d. increase in nominal GDP. 29. Describe some of the steps used to combat inflation. What are their side-effects? 30. Which of the following is a characteristic of a perfectly competitive market? a. a few large firms b. firms producing specialized products in order to attract consumers c. each individual firm having some control over the market price d. a large number of small firms 31. At a perfectly competitive firm’s short-run equilibrium level of output, a. P = MR = MC. b. P = MR, but MR does not equal MC. c. P = MC, but MR does not equal MC. d. MR = MC and P < MR. 32. Of the following industries, which are perfectly competitive? Of those which are not, why do they not fit the model? a. local banking b. gasoline stations c. college-level educational institutions d. local radio and television e. local farmers’ market 32. All of the following are possible characteristics of oligopoly except a. free entry into the industry. b. significant economies of scale. c. interdependence among sellers. d. homogeneous product. 33. A cartel is a. a group of oligopolists who try to behave like a single monopolist and split the benefits among themselves. b. a government-approved organization for the exchange of technical information among firms. c. a form of competition among oligopolists. d. a regulated industry that is officially permitted to set the price of its product above long-run average total cost. 34. The theory of the kinked demand curve is used to explain a. bizarre corporate behavior. b. sales maximization. c. the maximun criterion. d. sticky prices in oligopolies. 35. Other things held constant, when the general price level changes: Select one: a. we shift the aggregate demand curve to the left. b. we shift the aggregate demand curve to the left. c. we shift the aggregate supply curve to the right. d. we shift the aggregate demand curve to the right. e. we move along the aggregate demand curve. 36. The official unemployment rate is: Select one: a. the number of unemployed people divided by the number of employed people. b. the number of unemployed people divided by the total size of the population. c. the number of unemployed people divided by the size of the non-institutionalized population, age 16 or older. d. the number of unemployed people divided by the size of the non-institutionalized population. e. the number of unemployed people divided by the size of the labor force. 37. Which of the following is true of Antitrust policy? Select one: a. Antitrust policy prohibits agreements that allow free trade. b. Antitrust policy restricts abusive behavior by a firm dominating a market. c. Antitrust policy allows anti-competitive practices. d. Antitrust policy encourages establishment of monopoly firms. e. Antitrust policy creates trade barriers like tariffs and quota. 38.Other things equal, a country’s long-run aggregate supply will shift to the left when _____. Select one: a. the productivity of labor rises b. the quantity of natural resources rises c. the mortality rate rises d. the amount of investment rises e. the aggregate expenditure on education rises 39. Which of the following is true of marginal revenue? Select one: a. Marginal revenue is the slope of the total cost curve when profit is maximized. b. Marginal revenue equals total revenue divided by quantity. c. Marginal revenue equals the change in total revenue divided by the change in the quantity. d. Marginal revenue is the slope of the supply curve of a firm. e. Marginal revenue equals the income earned by selling the stocks on the margin. 40. What is Gross Domestic Product? What is included in this statistic? What is excluded? Give two examples of goods or services that are included in GDP and two examples of goods or services that are excluded.

1.

What does ΔG of a metabolic reaction measure?

the net change in free energy during a reaction

the amount of heat energy gained or lost in a reaction

the amount of matter transferred in a reaction

the change in activation energy required in a reaction due to enzyme activity

the activation energy of a reaction

2.

Which of the following does a catalyst change during a chemical reaction?

the free energy of the products

heat

entropy

activation energy

the free energy of the reactants

3.

ATP is not the only molecule that can drive reactions. When ATP is depleted during exercise, muscle cells use phosphocreatine to drive the regeneration of ATP.

Consider the following half reactions:

1. ATP + H2O → ADP + Pi

ΔG = –7.3 kcal/mol

2. Phosphocreatine + H2O → creatine + Pi

ΔG = –10.3 kcal/mol

From these two reactions, calculate the Gibbs free energy of the following coupled reaction, catalyzed by creatine kinase:

Phosphocreatine + ADP → ATP + creatine

ΔG = ?

Which is the correct net Gibbs free energy of the reaction?

ΔG = –3 kcal/mol

ΔG = –17.6 kcal/mol

ΔG = 0 kcal/mol

ΔG = +3 kcal/mol

ΔG = +17.6 kcal/mol

4.

Which source of energy does active transport use?

the regeneration of ATP bound to an active transport pump

the hydrolysis of ATP bound to an active transport pump

the hydrolysis of GTP bound to the active transport pump

the transport of ATP bound to an active transport pump

the transport of GTP bound to an active transport pump

5.

Which is an anabolic process?

protein synthesis

glycolysis

ATP hydrolysis

protein degradation

active transport

6.

The sodium-potassium pump is an active transport pump that uses energy to pump potassium into cells and sodium out of cells. Why is ATP energy required?

to change the shape of the ions

to transfer glucose in the same direction as Na+ ions

to pump the Na+ and K+ ions along their diffusion gradient

to pump the Na+ and K+ ions against their diffusion gradient

for the membrane to change shape

7.

Which definition best describes a cell’s metabolism?

the chemical reactions that break down glucose for energy

the use of ATP as an energy carrier

the energy level that must be overcome for a chemical reaction to move forward

the burning of fat molecules for energy

the sum of all the chemical reactions occurring in an organism

8.

Which reaction can provide the energy needed to run an endergonic reaction?

protein synthesis

photosynthesis

ATP hydrolysis

enzyme catalysis

All answers are correct.

9.

Which process(es) can directly amplify signals in a transduction pathway?

activating adenylyl cyclase

activating kinases

activating phosphatases

activating phospholipase C

All answers are correct.

10.

What happens when protein kinase A (PKA) phosphorylates phosphorylase kinase in the epinephrine signal transduction pathway?

Phosphorylase kinase becomes deactivated, and glucose production is suppressed.

Phosphorylase kinase becomes activated, and glucose production is suppressed.

Phosphorylase kinase becomes deactivated, and glucose production is enhanced.

Phosphorylase kinase becomes activated, and glucose production is enhanced.

None of the answers are correct.

11.

Which is a catabolic process?

glycolysis

ATP synthesis

ion transport

photosynthesis

translation of mRNA into protein

12.

Which reaction does a kinase catalyze in a signal transduction pathway?

binding of a signal molecule to a receptor

production of cAMP

phosphorylation of a TARGET  protein

All answers are correct.

None of the answers are correct