QUESTION 2 In a service firm, the quality of a service is perceived and cannot be directly measur same way that the quality of a tangible product can. O True O False
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I love the Austrian candy Mozartkugeln They are a small
I love the Austrian candy “Mozartkugeln”. They are a small part of my budget, and the only factor determining my willingness to pay for additional Mozartkugeln is how many I already have.
A: Suppose you know that I am willing to give up$1 of “other consumption” to get one more Mozartkugel when I consume bundle A — 100 Mozartkugeln and $500 in other goods per month.
(a) What is my MRS when my Mozartkugeln consumption remains unchanged from bundle A but I only consume $200 per month in other goods?
(b) Are my tastes quasilinear? Could they be homothetic?
(c) You notice that this month I am consuming bundle B — $600 in other goods and only 25 Mozartkugeln. When questioning me about my change in behavior (from bundle A), I tell you that I am just as happy as I was before. The following month you observe that I consume bundle C — 400 Mozartkugeln and $300 in other goods, and I once gain tell you my happiness remains unchanged. Does the new information about B and C change your answer in (b)?
(d) Is consumption (other than of Mozartkugeln) essential for me?
B: Suppose my tastes could be modeled with the utility function u(x1, x2) = 20×10.5 + x2, where x1 refers to Mozartkugeln and x2 refers to other consumption.
(a) Calculate the MRS for these tastes and use your answer to prove that my tastes are quasilinear in x1.
(b) Consider the bundles A, B and C as defined in part A. Verify that they lie on one indifference curve when tastes are described by the utility function defined above.
(c) Verify that the MRS at bundle A is as described in part A and derive the MRS at bundles B and C.
(d) Verify that the MRS at the bundle (100,200) corresponds to your answer to A(a).
(e) How much “other goods” consumption occurs on the indifference curve that contains (100,200) when my Mozartkugeln consumption falls to 25 per month? What about when it rises to 400 per month?
(f) Are Mozartkugeln essential for me?
I love the Austrian candy Mozartkugeln They are a small
Q14 Which of the following is closest to a perfectly competitive market?
a computer software
b athletic shoes
c wheat
d handmade guitars
Q16 The profit maximizing level of production
a is not measurable for a perfectly competitive firm
b is where the difference between marginal revenue and marginal cost is maximized
c ignores the relation of total revenues and total costs
d is the quantity at which marginal revenue equals marginal cost
Q23 For the monopolistic competitor, which is INCORRECT?
a The profit maximizing rate of output is where the marginal cost curve intersects the marginal revenue curve
b The marginal revenue curve is downward sloping and lies below the demand curve
c Because the firm has some control over price, its demand curve slopes downward
d If the firm in a monopolistically competitive industry were making economic losses, firms would enter the industry
Q24 Profitable price discrimination involves
a charging a higher price to new customers and a low price to old ones
b charging a higher price to wealthier customers
c charging a higher price for goods that cost more to produce
d charging a higher price to customers with a relatively low elasticity of demand
Q28 Signaling occurs as part of
a noncooperative behavior
b advertising
c price leadership
d opportunistic behavior
Q36 External costs can be defined as
a the cost of providing all public goods and services
b the sum of all private production costs
c the cost of running the federal government
d the cost associated with private production, but partially borne by society
Q37 What would happen in a free market system when production of a good generates negative externalities?
a There would be a shortage of the good
b The equilibrium quantity of the good would be more than the efficient amount
c The equilibrium quantity of the good would be less than the efficient amount
d There would be a surplus of the good
Q38 Which of the following is an incidence of market failure?
a Firms change their production plans in response to a tax
b The price of a good exceeds the opportunity cost of producing it
c The firm producing the good is earning zero economic profit
d Consumers change their buying habits in response to a tax
Q39 Which one of the following is TRUE?
a Private goods are subject to the principle of rival consumption
b Public goods are those that generate positive externalities
c Public goods are a subset of private goods
d Private goods are produced for a local market; public goods are produced for a national market
Background and Aims
Data can have characteristic that surprise us. One such surprise is that across numbers
representing many types of data the first digit has a systematic and predictable distribution, in particular it
has a log distribution such that about 30% of the time the first digit is 1, 18% it is 2, down to 5% for the
digit 9. This was first shown by the engineer Frank Benford, so this first digit distribution is known as
Benford’s law. Since he demonstrated it in Benford (1938) it has been shown to hold for a large amount
of data.
Nigrini (1999) reports on the use of Benford’s law as a tool for detecting fraud. If lots of normal
financial data conforms Benford’s law, then deviation from Benford’s law could be evidence of human
manipulation of the data. He presents examples of Benford’s law being used successfully to detect fraud.
However this application of Benford’s law assumes that people do not produce numbers that fit to
Benford’s law when they try to generate data. In the experiment we ran in ATHK1001 tutorials in Week 2
we tested this assumption by having participants generate numerical answers to question that few knew
the answer to. As well as general knowledge question, we asked participants to estimate quantities. If
these numbers follow Benford’s law then it may be harder to use Benford’s law to detect fraud because it
would demonstrate that people may naturally conform to the law, at least under some circumstances.
Nigrini (1999) also pointed out that not all numbers fit to Benford’s law, in particular, arbitrary
numbers like receipt numbers would not be expected to. So in this experiment we tested if people’s
responses would also show a distinction between meaningful and meaningless numbers.
If people do generate data that tends to conform to Benford’s law then there may individuals who
do so more than others, and they may be consistent across tasks. Therefore we examined whether there
was a correlation between a measure of how close individuals were to Benford’s law for meaningful
items and estimation items.
Attachments:
Shane is a 10 year old boy in the seventh grade at a private school. Shane has a normal, intact, healthy family and he has two siblings who are older than he is. One of Shane’s brothers has mild autism, the other is healthy. All three boys are very happy and generally “good kids”. Both parents are very smart and have advanced college degrees. Shane’s mother works from home as an educational consultant and his father is an attorney. Shane’s parents believe that Shane is extremely smart, but they feel that his academic achievement does not reflet his natural intelligence. Shane is about to start middle school and his parents have brought him in to help figure out what might be going on with Shane as they want him to be less of a behavior problem and they want him to succeed better at school.
Both parents are present for the intake interviews. Both parents report that Shane is a good kid and talented athlete and they feel he is a good kid “at heart”, though he frequently has mild behavior issues and can be quite impulsive. Because of their son with autism, they have a strong behavior modification program and positive reinforcement program in place at home and both parents regularly attend parent support groups to pro-actively help them with any problems that might arise. Both parents are competent and calm and there is no history of trauma or abuse or dysfunction in the home. The brothers get along well, though they are all in different activities, so they don’t spend that much time together. Shane has recently had a yearly physical and there are no known medical problems or concerns. His pediatrician did encourage the parents to bring Shane to a psychologist for further evaluation and treatment for the reasons listed below.
Attachments:
report those basic assumptions in your response as it relates to how you made your insurance plan choice. Perhaps an interesting way to approach this is to think in terms of the worst-case scenario. A QUESTION OF ETHICS In the discussion of payment to physicians, we see that fee-for-service structures can be an incentive for overtreat- ment (the provision of unnecessary services). Conversely. we see that capitation payments can be an incentive to underserve (withhold necessary services). From an ethical standpoint, which method of payment is more appropriate. in your opinion? . Despite various government programs, over 45 million people remain without health insurance. Is it societys responsibility to provide health care services to all? . Should there be limits to the amount of medical care pro- vided, and should those limits be applied only to those who cannot pay? In other words, is a two-tiered system of health care appropriate-basic health care for the poor and full-coverage health care for those who can pay?
5 paragraph argumentive essay about (How school physical effects teenagers)
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