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Get college assignment help at uniessay writers 4. Most airlines deliberately double-book a certain number of seats on each flight, to minimise losses from empty seats when some passengers fail to turn up. This raises the problem of how to decide who gets left behind when all the passengers turn up. Over the years a variety of methods have been used, including the following: i) First-come, first-served ii Discretion of the check-in clerk i A free-for-all where passengers jostle each other for seats iv) Airline buy-back where a cash payment, travel voucher or upgrade is made to those who take a later flight a. Explain which groups are more likely to be left out using each method.

Question: 3. Profit Yersus Total Revenue A Firm Has Total Revenue (TR) And Total Cost (TC) Curves As Shown On The Following Diagram. To Complete The Graph, You Will Have To Illustrate Two Distances With Line Segments. Determine The Quantity Of Output That Generates The Maximum Profit. Use The Green Points (triangle Symbol) To Indicate The Amount Of Profit At …

3. Profit yersus total revenue A firm has total revenue (TR) and total cost (TC) curves as shown on the following diagram. To complete the graph, you will have to illustrate two distances with line segments. Determine the quantity of output that generates the maximum profit. Use the green points (triangle symbol) to indicate the amount of profit at this quantity of output. Then, determine the quantity of output that generates the maximum total revenue. Use the purple points (diamond symbol) to indicate the amount of revenue at this quantity of output. Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically ? 200 TC 180 Maximum Revenue 160 140 TR Maximum Profit 120 100 80 60 40 20 0 10 20 30 40 50 60 70 80 90 100 Quantity of Output (Output per day) while the maximum total revenue it can earn is The maximum profit this firm can earn is Total Revenue, Total Cost OO

Question: Prices The Blue Curve On The Following Graph Represents The Demand Curve Facing A Firm That Can Set Its Own Use The Graph Input Tool To Help You Answer The Following Questions. You Will Not Be Graded On Any Changes You Make To This Graph. Note: Once You Enter A Value In The White Field, The Graph And Any Corresponding Amounts In Each Grey Field Will …

prices The blue curve on the following graph represents the demand curve facing a firm that can set its own Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in the white field, the graph and any corresponding amounts in each grey field will change accordingly. ? Graph Input Tool Market for Goods 200 Quantity Demanded 180 (Units) 180 Demand Price (Dollars per unit) 100.00 140 120 100 80 60 Demand 40 20 0 4 8 12 16 20 24 28 32 38 40 QUANTITY (Units) PRICE (Dollars per unit) 20 On the preceding graph, change the number found in the Quantity Demanded field to determine the prices that correspond to the production of 0, 8, 16, 20, 24, 32, or 40 units of output. Calculate the total revenue for each of these production levels. Then, on the following graph, use the green points (triangle symbol) to plot the results. ? 2000 1800 Total Revenue 1600 1400 1200 1000 800 600 400 200 0 40 0 4 8 12 16 20 24 28 32 36 QUANTITY (Number of units) Calculate the total revenue if the firm produces 8 versus 7 units. Then, calculate the marginal revenue of the eighth unit produced. The marginal revenue of the eighth unit produced is Calculate the total revenue if the firm produces 16 versus 15 units. Then, calculate the marginal revenue of the 16th unit produced. enue of the 16th unit produced is $ The marginal rev Based on your answers from the previous question, and assuming that the marginal revenue curve is a straight line, use the black line (plus symbol) to plot the firm’s marginal revenue curve on the following graph. (Round all values to the nearest multiple of 40.) TOTAL REVENUE (Dollars) Based on your answers from the previous question, and assuming that the marginal revenue curve is a straight line, use the black line (plus symbol) to plot the firm’s marginal revenue curve on the following graph. (Round all values to the nearest multiple of 40.) Note: Marginal revenue is ordinarily plotted between integers; in this problem, you will plot MR right at integer values. When the distance from one unit to the next is very small-as in this graph-there is no noticeable difference in the two plotting methods. ? 200 Marginal Revenue 160 120 80 40 0 40 40 0 4 8 12 16 20 24 28 32 38 QUANTITY (Units) Comparing your total revenue graph to your marginal revenue graph, you can see that when total revenue is increasing, marginal revenue is MARGINAL REVENUE (Dollars)

Question: Suppose That You Open A New Fried Chicken Restaurant Around Anam Station. The Fried Chicken Market Is Perfectly Competitive, Which Means That There Are Many Other Fried Chicken Restaurants Selling Identical Products (there Is Only One Menu “fried Chicken”). You, A Price Taker, Take The Market Price (15,000 Won Per Chicken) As Given. The Following Table …

Suppose that you open a new fried chicken restaurant around Anam station. The fried chicken market is perfectly competitive, which means that there are many other fried chicken restaurants selling identical products (there is only one menu “fried chicken”). You, a price taker, take the market price (15,000 won per chicken) as given. The following table shows how the quantity of chickens fried per hour depends on your restaurant’s costs. Fixed costs and variable costs are given in the table. Q1. Fill in the table MC Q TR AR MR. TC FC VC ATC AFC AVC Profit 0 50,000 50,000 50,000 50,000 15.000 15,000 15,000 51,500 1,500 51500.00 50000.00 1,500 1,500 36,500 15,000 25000.00 7 30,000 15,000 54,500 4,500 27250.00 2,250 3,000 24,500 19666.67 16250.00 45,000 15,000 15,000 59,000 50,000 9,000 16666.67 3,000 4,500 14,000 60,000 75.000 90,000 105,000 120,000 135,000 15,000 4 15,000 15,000 65,000 50,000 12500.00 3.750 6,000 5,000 72,500 50,000 50,000 50,000 50,000 50,000 50,000 15,000 4,500 5 15,000 22,500 14500.00 10000.00 7,500 2,500 5,250 6,000 6,750 7,500 8,250 8,500 6 15,000 15,000 81,500 31,500 13583.33 8333.33 9,000 92,000 104,000 42,000 54,000 13142.86 7142.86 10,500 12,000 13,500 15,000 15,000 15,000 13,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 13000.00 6250.00 16,000 17,500 15,000 15,000 15,000 15,000 15,000 C 117.500 67,500 13055.56 5555.56 10 150,000 132,500 82.500 13250.00 5000.00 17.500 165.000 149,000 50,000 50,000 50,000 99.000 13545.45 4545.45 9,000 16.500 16,000 11 167,000 180,000 195.000 210,000 12 117,000 13916.67 4166.67 9,750 10,500 11,250 12,000 12,750 13,500 18,000 19,500 21,000 22,500 5,000 24,00014,000 13,000 8,500 136,500 157,500 13 186,500 207,500 230,000 254,000 279,500 14346.15 3846.15 14 15,000 15,000 15,000 15,000 15,000 15,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 14821.43 3571.43 2,500 15 225,000 180,000 15333.33 3333.33 16 240,000 204,000 15875.00 3125.00 255,000 270,000 18 19 285,000 300,000 229.500 25,500 24,500 27,000 36,500 17 15,000 15,000 16441.18 2941.18 15,000 15,000 15,000 15,000 306,500 335,000 365,000 256,500 17027.78 2777.78 14,250 17631.58 15,000 285,000 2631.58 15,000 28,500 50,000 2500.00 20 15,000 315,000 18250.00 15,750 30,000 65,000 Q3. How many fried chickens (per hour) do you produce to maximize profit?

Question: 6. Computing Labor Productivity And Its Relationship To The Demand For Labor Gopher Excavators Produces Shovels In A Small Factory And Sells The Shovels In A Competitive Market. The Following Table Shows The Company’s Total Physical Product: Labor Output (Number Of Workers) (Shovels) 0 0 1 90 2 175 3 245 300 5 325 NM StLn Use The Blue Points (circle …

6. Computing labor productivity and its relationship to the demand for labor Gopher Excavators produces shovels in a small factory and sells the shovels in a competitive market. The following table shows the company’s total physical product: Labor Output (Number of workers) (Shovels) 0 0 1 90 2 175 3 245 300 5 325 NM stLn Use the blue points (circle symbol) to plot the total physical product (TPP) curve for Gopher Excavators on the following graph. 400 380 TPP 320 280 240 200 180 120 80 40 0 2 LABOR (Number of workers) OUTPUT (Shovels) Calculate the marginal physical product of labor (MPPr) of each worker, and then plot the MPP, curve on the following graph using the blue points (circle symbol) ? 100 MPPL 80 70 60 50 40 30 20 10 C 0 2 3 F LABOR (Number of workers) MPPL (Shovels per worker) The following graph shows the demand for labor for three different prices per shovel ? 150 135 120 105 90 N 60 45 30 15 C C 2 3 4 F LABOR (Number of workers) WAGE (Dollars per worker) 75 Given the company’s marginal physical product of labor curve shown on the initial graph, line on the previous graph shows Gopher’s demand for labor when the price of a shovel is $1.00, and line shows Gopher’s demand for labor when the price of a shovel is $1.50.

Question: Suppose You Own Two Factories That Produce Widgets. Factory 2 Is Suitably Located Near A Firm That Sells Raw Materials Needed To Make Widgets, Whereas Factory 1 Is In A More Remote Location And Thus Has Higher Transportation Costs. Assume Zero Fixed Costs For Both Factories. The Following Graph Illustrates The Marginal Cost (MC) For Producing Widgets …

Suppose you own two factories that produce widgets. Factory 2 is suitably located near a firm that sells raw materials needed to make widgets, whereas Factory 1 is in a more remote location and thus has higher transportation costs. Assume zero fixed costs for both factories. The following graph illustrates the marginal cost (MC) for producing widgets in each of these factories. 24 22 20 TC (Factory 1) MC (Factory 1) 18 16 TC (Factory 2) 14 MC (Factory 2) 12 10 8 4 2 0 0 2 4 6 8 10 12 14 16 18 20 22 24 QUANTITY (Thousands) You need to produce 18,000 widgets, and you have three options to allocate your production. Option I. Produce all 18,000 widgets in Factory 2, which is more efficient than Factory 1 Option II. Produce 9,000 widgets each in Factory 1 and Factory 2 Option III. Allocate production of 18,000 widgets such that the marginal costs are equalized between the two factories. COST (Dollars) Calculate the total cost (TC) of production under each of the options, and enter them in the following table. Hint: The area under the MC curve gives you the total cost. To determine total costs, you can either calculate the area yourself or use the green points (triangle symbols) or the purple points (diamond symbols) the graph to shade the area representing total costs for each. After you place a on triangle in the appropriate region on the graph, you can select the triangle to get its area. You will not be graded on where you place the triangles. TC (Factory 1) TC (Factory 2) TC (Factory 1 Factory 2) Option (Thousands of dollars) (Thousands of dollars) (Thousands of dollars) Option I 0 Option II 41 20 61 Option III 18 Which option minimizes the total cost of production? Option I Option II Option III

________________________________________ Question 1 (Multiple Choice Worth 2 points) The immediate cause

________________________________________ Question 1 (Multiple Choice Worth 2 points) The immediate cause for the Texan Americans’ declaration of independence on March 2, 1836 was that… the Texan “war party” sabotaged the efforts of Stephen F. Austin and other “peace party” leaders who were then negotiating with the Mexican government for greater autonomy. the new president, General Antonio Lopez de Santa Ana, cut short Stephen F. Austin’s negotiations with the Mexican government and appointed a military commandant for Texas. Mexican troops commanded by General Antonio Lopez de Santa Ana destroyed the American garrison defending the Alamo. Texans prisoners at Goliad were massacred by Mexican troops commanded by General Antonio Lopez de Santa Ana. ________________________________________ Question 2 (Multiple Choice Worth 2 points) Which of the following does not help to explain the diminishing effectiveness of Reconstruction in the South? Northerners tired of the expense and violence that supporting Reconstruction engendered. Racism among moderate Republicans led them to ascribe Republican defeats in the South to the incompetence of black politicians. A severe depression in 1873 distracted Northerners from the social and racial issues of Reconstruction. The expanded presence of federal troops and officials from 1875 to 1877 brought about an escalation in southern terrorist retaliation. ________________________________________ Question 3 (Multiple Choice Worth 2 points) Which of the following statements most accurately characterizes one effect of Enlightenment on America. American thinkers agreed with John Locke’s idea that political authority was divinely ordained. Cotton Mather and the Boston physician Nicholas Boyleston fought against smallpox inoculation. Some ministers combined Lockean political principles with Calvinist theology in order to attack the role of bishops and vest power in the laity. European Enlightenment ideas had little impact on Americans until 1750. ________________________________________ Question 4 (Multiple Choice Worth 2 points) In the election of 1864, Lincoln… won by a slim margin, thanks to the votes of Union soldiers. was swept to victory by Sherman’s victory at Atlanta. won despite the fact that three out of every four Union soldiers voted against him. lost the popular vote to McClellan, but won the electoral vote. ________________________________________ Question 5 (Multiple Choice Worth 2 points) The Compromise of 1850 did not include which of the following? Abolition of the slave trade in the District of Columbia. Adoption of a strong fugitive slave law. The organization of the New Mexico and Utah territories on the basis of popular sovereignty. Abolition of slavery in the Oregon Territory. ________________________________________ Question 6 (Multiple Choice Worth 2 points) The Puritans in late sixteenth-century England… denied the concept that everyone had a calling” from God. incorporated into their religion many of the traditional Roman Catholic practices, such as burning incense and praying to dead saints. championed literacy so that everyone could read and interpret the Bible. gave final authority over religious doctrine to bishops and synods. ________________________________________ Question 7 (Multiple Choice Worth 2 points) In early nineteenth-century America… the rise in political status of ordinary white men was accompanied by a decline in the political rights of women and free blacks. most newly organized free states granted the right to vote to adult black men who owned specified amounts of freehold property. Pennsylvania and New York allowed all free adult black males to vote. women were granted the right to vote only in New Jersey in 1807. ________________________________________ Question 8 (Multiple Choice Worth 2 points) The First Continental Congress… was summoned by Patriot leaders to protest the Coercive Acts in 1774. united representatives from all the British colonies of North America for the first time. failed to enact a declaration of independence drafted by John Adams but accepted Joseph Galloway’s more moderate Plan of Union. failed to pass a declaration of rights and grievances because it was judged too mild. ________________________________________ Question 9 (Multiple Choice Worth 2 points) Between 1800 and 1860 white planters moved to the lower South to… transform the West into a free labor society. recreate the conditions of slavery. invest in agricultural development. flee antislavery laws in the upper South. ________________________________________ Question 10 (Multiple Choice Worth 2 points) Which of the following statements most accurately characterizes immigration during the 1840s and 1850s? Most immigrants settled in the South to take advantage of jobs in industry and agriculture. Most of the Irish who arrived were poverty-stricken peasants. The largest group of immigrants came from eastern and southern Europe. The poorest immigrants came from Wales and Scotland. ________________________________________ Question 11 (Multiple Choice Worth 2 points) The Mayflower Compact… was the first “constitution” adopted in North America. was the Pilgrims’ declaration of independence from England. proclaimed the Pilgrims’ new religious denomination, known as the Separatist Church. pledged the settlers of the Plymouth Colony to create a democratic form of government. ________________________________________ Question 12 (Multiple Choice Worth 2 points) In their petitions to Congress in the 1830s, abolitionists frequently called for… appropriating funds to compensate slave owners for emancipating their slaves. abolishing slavery in the District of Columbia. ending the Atlantic slave trade. impeaching any president who condoned slavery and barring slave owners from serving in Congress. ________________________________________ Question 13 (Multiple Choice Worth 2 points) Before becoming president, Thomas Jefferson viewed the westward migration of Americans with… apprehension because he believed the country was growing too large to be governed as a single republic. disapproval because he sympathized with the plight of the Indians who would be displaced by white settlement of the West. disdain because, as a cultured aristocrat, he considered the settlers to be uncouth rabble who would only cause trouble with the Indians and destroy the West’s natural environment. unqualified approval because he celebrated the pioneer farmer and hoped to see the West developed by independent yeomen. ________________________________________ Question 14 (Multiple Choice Worth 2 points) The three-day Battle of Gettysburg resulted in… a decline in northern popular support for the war. Democratic victories in state and local elections in Ohio, New York, and Pennsylvania. Lee’s loss of over half his Army of Northern Virginia. the Confederate elections of 1863 to turn sharply against supporters of Jefferson Davis. ________________________________________ Question 15 (Multiple Choice Worth 2 points) The Whiskey Rebellion was significant for all of the following reasons except… the Whiskey rebels were acting in the tradition of the Patriots of 1765 and the Shaysites of 1786, only now they also waved banners proclaiming the French Revolutionary slogan “Liberty, Equality, Fraternity.” Washington used force to put down the first strong challenge to the federal government’s authority in order to make and enforce a law. by suppressing the revolt, Washington deterred secessionist movements on the frontier. when he learned that Thomas Jefferson covertly supported the insurgents, Washington publicly broke with him, precipitating open party conflict. ________________________________________ Question 16 (Multiple Choice Worth 2 points) On the eve of European colonization of the Americas, most Western Europeans lived in… small, relatively isolated, rural communities. booming new cities and towns. the older cathedral cities. the castles that dotted the countryside. ________________________________________ Question 17 (Multiple Choice Worth 2 points) The plantation elite were characterized by all of the following criteria except… roughly three thousand families comprised of the plantation elite category. plantation elites owned more than 1,000 slaves. plantation elites owned huge tracts of fertile land. plantation elites were both traditional aristocrats from the Old South and market entrepreneurs of the New South. ________________________________________ Question 18 (Multiple Choice Worth 2 points) Which of the following statements most accurately characterizes the American party system by the early 1840s? As the 1840 election demonstrated, the Whigs held the edge in party discipline and mass loyalty. The two parties offered virtually the same social and economic platform but employed differing campaign styles to attract voters. the practice of Americans voting for a particular party along ethnic and religious lines began to emerge. The Democrats had a major advantage in their wealth and the cohesiveness of their leadership and support. ________________________________________ Question 19 (Multiple Choice Worth 2 points) The Glorious Revolution in England and America… had little impact on either England or North America apart from deposing the Stuarts and barring Roman Catholics from the English throne. contributed significantly to the creation of a new empire based on commerce, with a curb on royal monopolies, encouragement of enterprising merchants, and development of the American colonies as a source of wealth. created democratic governments in Massachusetts, New York, and Maryland, but not in England. represented a major step toward democracy in both England and the North American colonies. ________________________________________ Question 20 (Multiple Choice Worth 2 points) One social change resulting from the Industrial Revolution in early nineteenth century America was that members of the upper class… came to hold the same cultural and religious values as wage earners in contrast to the elitism that in the eighteenth century had kept the gentry and the “common people” apart. openly distanced themselves by values and lifestyle from wage earners in contrast to the shared cultural and religious values that had united the gentry and ordinary folk in the eighteenth century. became more hypocritical, pretending to share cultural and religious values with wage earners, but actually behaving very differently. tended to claim that they had risen “from rags to riches” and to flaunt their crude taste and rough manners in contrast to “gentlemanly” values of the eighteenth-century elites. ________________________________________ Question 21 (Multiple Choice Worth 2 points) The ancestors of the Native American peoples… always lived in the Western Hemisphere. migrated by sea from Polynesia. migrated by sea from China. migrated by land from northeastern Asia. ________________________________________ Question 22 (Multiple Choice Worth 2 points) Which of the following statements most accurately characterizes the British colonial frontier before 1750? Hundreds of British colonists moved into the area west of the Appalachians. The Iroquois covenant chain broke down, and the confederacy’s power diminished. A lack of natural transportation routes kept the British east of the Appalachians. The French abandoned their fur-trading forts in the Ohio region. ________________________________________ Question 23 (Multiple Choice Worth 2 points) The Northwest Ordinance of 1787… prohibited slavery in the Northwest Territory. funded an exploratory party to locate the Northwest Passage. provided for the eventual creation of eight to ten new states in the Northwest Territory. required compulsory elementary education in each new township in the Northwest Territory. ________________________________________ Question 24 (Multiple Choice Worth 2 points) The Stamp Act Congress held in New York in 1765… was a failure because the nine colonies represented could not agree on a unified policy. protested loss of American rights and liberties and declared that only elected representatives could impose taxes on colonists. formulated a set of resolves that threatened rebellion against Britain. accepted the constitutionality of the Sugar Act but not the Stamp Act. ________________________________________ Question 25 (Multiple Choice Worth 2 points) At the same time that Parliament imposed the Stamp Act, it also passed the Quartering Act, which required… Americans to vacate their houses or take in British troops on the demand of any commander. colonial governments to provide barracks and food for British troops. that Americans convicted of treason be hanged and “quartered”; that is, cut into four pieces by the hangman. that collectors of the stamp tax receive a commission of one-quarter of the revenue they took in. ________________________________________ Question 26 (Multiple Choice Worth 2 points) The Treaty of Guadalupe Hidalgo… was rejected by the US Senate. prohibited slavery in all territories ceded by Mexico, including Texas. ceded Alta, California; New Mexico; and Texas north of the Nueces River to the United States, in addition to requiring Mexico to pay reparations of more than $50 million. purchased more than one-third of Mexico’s territory for $15 million. ________________________________________ Question 27 (Multiple Choice Worth 2 points) Most colonists’ reaction to the Navigation Acts was to… comply with its laws out of fear of reprisals. welcome these measures as a way of strengthening the bonds of empire, which would protect them from the French and Spanish. bribe customs officials to ignore the regulations. resent and resist the trade restrictions. ________________________________________ Question 28 (Multiple Choice Worth 2 points) The Fifteenth Amendment… prohibited state governments from using property requirements to disqualify blacks from voting. gave the full vote to all adult African Americans. prohibited state governments from using literacy tests and poll taxes to prevent blacks from voting. forbade states from denying any citizen the right to vote on the grounds of race, color, or previous condition as a slave. ________________________________________ Question 29 (Multiple Choice Worth 2 points) The movement toward secession in the winter of 1860-1861 was most rapid in… the Upper South. South Carolina. Virginia. Georgia. ________________________________________ Question 30 (Multiple Choice Worth 2 points) Benjamin Franklin… received an unusually thorough education in England, which put him in touch with Enlightenment ideas unknown to most Americans. was a fervent advocate of the Enlightenment but claimed to be equally influenced by the Bible. was the son of a devout Philadelphia Quaker. founded a club of mutual improvement in Philadelphia to discuss moral and political questions. ________________________________________ Question 31 (Multiple Choice Worth 2 points) All of the following are rights guaranteed by the first ten amendments to the Constitution except… the right to a jury trial. the right to vote. the right to bear arms. freedom of speech. ________________________________________ Question 32 (Multiple Choice Worth 2 points) A peace treaty was not signed until nearly two years after the surrender at Yorktown because… the American negotiators sought delays so that state governments could coordinate their demands. France and Spain stalled, hoping for some major naval victory or territorial conquest. members of Parliament could not reach agreement on the concessions that they were willing to make. the usual delays in transatlantic communications prolonged the process. ________________________________________ Question 33 (Multiple Choice Worth 2 points) The Spanish Franciscan missionaries… tried to impose cultural assimilation and forced labor along with religious conversion of indigenous peoples. became large landowners who collected tribute from the Indians. outlawed slavery in the Spanish colonies. adapted to native culture almost completely. ________________________________________ Question 34 (Multiple Choice Worth 2 points) Which of the following statements most accurately characterizes the relationship between church and state in post-revolutionary America? Most citizens accepted the principle of separation of church and state. The Baptist Church led the campaign for state protection and funding of all Christian denominations. Most religious denominations served their links to the states. By 1787, the Anglican Church of Virginia was the only example of an established church in any state. ________________________________________ Question 35 (Multiple Choice Worth 2 points) Mob violence against abolitionists… was confined to border and southern cities such as Baltimore, St. Louis, New Orleans, and Nashville. was sometimes led by well-to-do “gentlemen of property and standing.” targeted only the free black communities and the homes of prominent abolitionist spokespersons. never resulted in the death of an abolitionist spokesperson or free black. ________________________________________ Question 36 (Multiple Choice Worth 2 points) By 1840 the South was on the cutting edge of the Market Revolution because… it produced and exported 1.5 million bales of raw cotton, over two-thirds of the world supply. planters were using European immigrants as industrial workers. planters were building factories to process cotton. southern society was dominated by free labor. ________________________________________ Question 37 (Multiple Choice Worth 2 points) The Missouri Compromise of 1820… resulted from the conciliatory efforts of Congressman James Tallmadge of New York. provided for Maine to enter the Union as a free state in 1820, and Missouri to enter as a slave state the following year. prohibited slavery in the Louisiana Territory south of latitude 36°30´. convinced the aged and retired Thomas Jefferson that the peaceful extinction of slavery by mutual agreement was now in sight. ________________________________________ Question 38 (Multiple Choice Worth 2 points) The abolitionist William Lloyd Garrison… attacked the US Constitution because it condoned slavery. was a minister who came to his antislavery convictions through the evangelical crusades of the 1820s. demanded the immediate abolition of slavery, with federally funded compensation for former slaveholders. criticized the colonizationists for moving too slowly in their efforts to emancipate slaves. ________________________________________ Question 39 (Multiple Choice Worth 2 points) Martin Van Buren’s most significant contribution to American political history in the 1820s was his… pioneering work in making party discipline an effective tool for governing in a democracy. behind-the-scenes efforts to settle the confused election of 1824 by putting John Quincy Adams in the White House and making Henry Clay secretary of state. development of the techniques of mass electioneering that brought about Andrew Jackson’s election in 1828. 1827 book Democracy in America, which showed how democracy could work in American society. ________________________________________ Question 40 (Multiple Choice Worth 2 points) During their first couple of years in the Jamestown colony, the English migrants… doubled the size of their population. produced an agricultural surplus–enough to trade with the Native Americans. lived remarkably disease-free. suffered from famine and diseases that killed more than half the population. ________________________________________ Question 41 (Multiple Choice Worth 2 points) George Washington’s success as a general is most accurately explained by… his political astuteness and ability to act decisively. his strong personality, which enabled him to override the decisions of Congress. a lack of any competitors among the other Patriot officers. his willingness to overlook the actions of discontented soldiers, which endeared him to his troops. ________________________________________ Question 42 (Multiple Choice Worth 2 points) In the aftermath of the nullification crisis, President Jackson responded to southern concerns about the tariff by… insisting that high protective tariffs were in the national interest. attempting unsuccessfully to have Congress repeal the Tariff of 1832. persuading Congress to pass new legislation enacting a compromise tariff to gradually reduce duties. ignoring the issue. ________________________________________ Question 43 (Multiple Choice Worth 2 points) A successful, full-scale revolt was nearly impossible for colonial-era slaves to achieve primarily because… even the Indians would refuse to help them if they escaped. whites were armed and, except in coastal South Carolina, outnumbered slaves. whites enlisted Native Americans to track down rebellious slaves. revolt would endanger the slaves’ communities and families. ________________________________________ Question 44 (Multiple Choice Worth 2 points) A famous Native American who wanted to unite the tribes east of the Mississippi into a confederation during the late 1700s, and was killed in the War of 1812, was: Sitting Bull Tecumseh Geronimo ________________________________________ Question 45 (Multiple Choice Worth 2 points) Around 1820-1840, the economic conditions for casual day laborers in American cities… improved because they gained greater geographical mobility and were in high demand on new construction projects everywhere. held steady, neither improving nor worsening. bore the brunt of unemployment during business depressions. improved slightly because, even though their wages were declining relative to living costs, they benefited from a heightened sense of charity among the middle class. ________________________________________ Question 46 (Essay Worth 10 points) The narrative suggests that the war for American independence was not inevitable, that the British empire could have been saved. Do you agree? At what point during the imperial crisis was peaceful compromise possible? ________________________________________ Question 47 (Essay Worth 10 points) In 1860, the institution of slavery was firmly entrenched in the United States; by 1865, it was dead. How did this happen? How did Union policy toward slavery and enslaved people change over the course of the war? Why did it change? ________________________________________ Question 48 (Essay Worth 10 points) Weigh the relative importance of the Industrial and Market revolutions in changing the American economy. In what ways was the economy different in 1860 from what it had been in 1800? How would you explain those differences? ________________________________________ Question 49 (Essay Worth 10 points) Explain why there were no major witchcraft scares in the Chesapeake colonies and no uprising like Bacon’s Rebellion in New England. Consider the possible social, economic, and religious causes of both phenomena. ________________________________________

Question: Possible Answers 1: Earn Zero Profit, Earn Positive Profit, Shut Down, Operate At A Loss 2: Enter, Exit, Neither 3:Zero, Positive, Negative 4:10,15,20

Consider the perfectly competitive market for copper. Assume that, regardless of how many firms are in the industry, every firm in the industry is identical and faces the marginal cost (MC), average cost (AC), and average variable cost (AVC) curves shown on the following graph. 100 90 80 70 60 50 40 AC 30 20 AVC MC 10 0 0 10 20 30 40 50 60 70 80 100 QUANTITY (Thousands of pounds) COSTS (Dollars per pound) The following diagram shows the market demand for copper. Use the orange points (square symbol) to plot the initial short-run industry supply curve when there are 10 firms in the market. (Hint: You can disregard the portion of the supply curve that corresponds to prices where there is no output, since this is the industry supply curve.) Next, use the purple points (diamond symbol) to plot the short-run industry supply curve when there are 15 firms. Finally, use the green points (triangle symbol) to plot the short-run industry supply curve when there are 20 firms. 100 Supply (10 firms) 80 70 Supply (15 firms) Supply (20 firms) Demand 30 20 10 0 0 123 250 373 500 623 750 873 1000 1123 1250 QUANTITY (Thousands of pounds) If there were 10 firms in this market, the short-run equilibrium price of copper would be per pound. At that price, firms in this industry would vTherefore, in the long run, firms would v the copper market. Because you know that the perfectly competitive firms earn economic profit in the long run, you know the long-run equilibrium price v firms operating in the copper industry in long-run must be S per pound. From the graph, you can see that this means there will be equilibrium True or False: Each of the firms operating in this industry in the long run earns negative accounting profit. True False PRICE (Dollars per p

Question: Consider A Perfectly Competitive Market For Wheat In Chicago. There Are 90 Firms In The Industry, Each Of Which Has The Cost Curves Shown On The Following Graph: Hint: Use The Black Point (plus Symbol) To View The Coordinates Of The Points On The AVC, AC, And MC Curves. You Will Not Be Graded For Any Chanı Made To This Graph 100 90 MC 80 70 60 AC 40 …

Consider a perfectly competitive market for wheat in Chicago. There are 90 firms in the industry, each of which has the cost curves shown on the following graph: Hint: Use the black point (plus symbol) to view the coordinates of the points on the AVC, AC, and MC curves. You will not be graded for any chanı made to this graph 100 90 MC 80 70 60 AC 40 30 AVC 20 10 0 0 5 10 15 20 25 30 35 40 45 50 OUTPUT (Thousands of bushels) COST (Cents per bushel) The following graph shows the market demand for wheat. Use the orange points (square symbol) to plot the short-run industry supply curve for the wheat industry. Specifically, place an orange point at the lowest point of the supply curve and another orange point at the highest point of the supply curve. (Note: You can disregard the portion of the supply curve that corresponds to prices where there is no output, since this is the industry supply curve. Plot your points in the order in which you would like C them connected. Line segments will connect the points automatically.) Then, place the black point (plus symbol) on the graph to indicate the short-run equilibrium price and quantity in this market. Note: Dashed drop lines will automatically extend to both axes. ? Demand 100 90 Supply Curve 80 70 Equilibrium 60 50 40 30 20 10 0 450 900 1350 1800 2250 2700 3150 3600 4050 4500 QUANTITY (Thousands of bushels) in the short run. In the long run, At the current short-run market price, firms will the market given the current market price. PRICE (Cents per bushel)

Question: Consider The Perfectly Competitive Market For Sports Jackets. The Following Graph Shows The Marginal Cost (MC), Average Cost (AC), And Average Variable Cost (AVC) Curves For A Typical Firm In The Industry. (? 100 90 80 70 60 AC 50 40 30 20 AVC MC 10 0 5 10 15 20 25 30 35 40 45 50 QUANTITY (Thousands Of Jackets) For Each Price In The Following Table, …

Consider the perfectly competitive market for sports jackets. The following graph shows the marginal cost (MC), average cost (AC), and average variable cost (AVC) curves for a typical firm in the industry. (? 100 90 80 70 60 AC 50 40 30 20 AVC MC 10 0 5 10 15 20 25 30 35 40 45 50 QUANTITY (Thousands of jackets) For each price in the following table, use the graph to determine the number of jackets this firm would produce in order to maximize its profit. Assume that when the price is exactly equal to the average variable cost, the firm is indifferent between producing zero jackets and the profit-maximizing quantity. Also, indicate whether the firm will produce, shut down, or be indifferent between the two in the short run. Lastly, determine whether it will make a profit, suffer a loss, or break even at each price. COSTS (Dollars) For each price in the following table, use the graph to determine the number of jackets this firm would produce in order to maximize its profit. Assume that when the price is exactly equal to the average variable cost, the firm is indifferent between producing zero jackets and the profit-maximizing quantity. Also, indicate whether the firm will produce, shut down, or be indifferent between the two in the short run. Lastly, determine whether it will make a profit, suffer a loss, or break even at each price. Price Quantity (Jackets) (Dollars per jacket) Produce or Shut Down? Profit or Loss? 10 20 32 40 50 60 On the following graph, use the orange points (square symbol) to plot points along the portion of the firm’s short-run supply curve that corresponds to prices where there is positive output. Note: You are given more points to plot than you need. Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. 100 Firm’s Short-Run Supply 80 70 60 50 40 30 20 10 0 10 15 20 25 30 35 40 50 QUANTITY (Thousands of jackets) PRICE (Dollars per jacket) Suppose there are 8 firms in this industry, each of which has the cost curves previously shown. On the following graph, use the orange points (square symbol) to plot points along the portion of the industry’s short-run supply curve that corresponds to prices where there is positive output. (Note: You are given more points to plot than you need. Do not plot the extra points) Then, place the black point (plus symbol) on the graph to indicate the short-run equilibrium price and quantity in this market. Note: Dashed drop lines will automatically extend to both axes. ? 100 90 Industry’s Short-Run Supply Demand 80 70 Equilibrium 60 50 40 30 20 10 0 400 0 40 80 120 160 200 240 280 320 360 QUANTITY (Thousands of jackets) in the short run. In the long run, At the current short-run market price, firms will PRICE (Dollars per jacket) CO

Question: The Index Of Industrial Production (IPt) Is A Monthly Time Series That Measures The Quantity Of Industrial Commodities Produced In A Given Month. This Problem Uses Data On This Index For The United States. All Regressions Are Estimated Over The Sample Period 1986:M1 To 2013:M12 (that Is, January 1986 Through December 2013). Let Yt =1200*ln(IPt/IPt-1) …

Get college assignment help at uniessay writers = 0.787 0.052Y,-1 0.185Y,-2 0.234 Y,_3 0.164Y,-4. (0.053) (0.078) (0.539) (0.093) (0.066) Use this AR(4) to forecast the value of Yt in January 2014, using the following values of IP for July 2013 through December 2013: 2013:M8 2013:M9 Date 2013:M10 2013:M11 2013:M12 2013:M7 IP 99.016 99.561 100.196 100.374 101.034 101.359

Question: A Monopolist’s Inverse Demand Function Is Given By P(Q) = 15 – Q, And Its Cost Function Is TC(Q) = 1Q2. Revenue And The Marginal Cost (a) Derive The Firm’s Marginal (b) What Output Level Does The Monopolist Choose To Maximize Profits? What Is Figure The Market Price? Also Show Them In A (c) At The Monopolist Choice In Part (b), What Do We Know About …

A monopolist’s inverse demand function is given by P(Q) = 15 – Q, and its cost function is TC(Q) = 1Q2. revenue and the marginal cost (a) Derive the firm’s marginal (b) What output level does the monopolist choose to maximize profits? What is figure the market price? Also show them in a (c) At the monopolist choice in part (b), what do we know about the price elasticity of demand? Do not calculate the elasticity yet. Just explain in words (d) Now calculate the elasticity and check if your answer in part (c) is correct (e) Show consumer surplus, producer surplus, and deadweight loss in a figure, and calculate them. (f) Briefly explain why the deadweight loss exists

Question: =53 P. And The Cost Function A Monopolist’s Demand Function Is Given By Q(P) Is TC(Q)5Q (a) Calculate The Profit Maximizing Quantity And Price For The Monopolist. Also Figure Show Them In A (b) Calculate Consumer Surplus, Producer Surplus, And Total Surplus. Also Show Figure Them In A (c) Suppose That The Market Is Competitive. Each Firm In The Market …

=53 P. and the cost function A monopolist’s demand function is given by Q(P) is TC(Q)5Q (a) Calculate the profit maximizing quantity and price for the monopolist. Also figure show them in a (b) Calculate consumer surplus, producer surplus, and total surplus. Also show figure them in a (c) Suppose that the market is competitive. Each firm in the market has the cost function of TC(q) = 5q. What output level would be produced by this market under perfect competition? Show consumer surplus, producer surplus, and total figure. Calculate them and compare to those in part (b) surplus in a (d) Now go back to the monopoly case, and suppose that the monopolist exercises the first degree price discrimination. Show consumer surplus, producer surplus, and total surplus in a figure. Is the outcome efficient? Explain

Question: Suppose That You Open A New Fried Chicken Restaurant Around Anam Station. The Fried Chicken Wwwwwwe Market Is Perfectly Competitive, Which Means That There Are Many Other Fried Chicken Restaurants Selling Identical Products (there Is Only One Menu “fried Chicken”). You, A Price Taker, Take The Market Price (15,000 Won Per Chicken) As Given. The Following …

Suppose that you open a new fried chicken restaurant around Anam station. The fried chicken wwwwwwe market is perfectly competitive, which means that there are many other fried chicken restaurants selling identical products (there is only one menu “fried chicken”). You, a price taker, take the market price (15,000 won per chicken) as given. The following table shows how the quantity of chickens fried per hour depends on your restaurant’s costs. Fixed costs and variable costs are given in the table. Q1. Fill in the table AFC TR AR MR TC FC VC ATC AVC MC Profit 50,000 50,000 50,000 50,000 15,000 15,000 1 15,000 15,000 15,000 15.000 51,500 54,500 59,000 1,500 4,500 51500.00 50000,00 1,500 2,250 3,000 1,500 3,000 4,500 36.500 24,500 14,000 27250.00 25000.00 30,000 45,000 60,000 75,000 90,000 105,000 120,000 19666.67 15,000 50,000 50,000 50,000 50,000 50,000 9,000 16666.67 4 65,000 72.500 15,000 12500.00 15,000 15,000 15,000 15,000 15,000 16250.00 3,750 4,500 6,000 7,500 5,000 2,500 8,500 13,000 15.000 22,500 31,500 42,000 14500.00 10000.00 15,000 81,500 13583.33 8333.33 7142.86 5,250 9,000 15,000 92,000 104,000 13142 86 6,000 10,500 15,000 15,000 15,000 15,000 15,000 15,000 50,000 50,000 50,000 50,000 50,000 50,000 54,000 67.500 13000.00 6250.00 6,750 7,500 12,000 13,500 15,000 16,500 18.000 16,000 17,500 17,500 16,000 13055.56 5555.56 135,000 150,000 165,000 117,500 132,500 10 15,000 15,000 82,500 99,000 13250.00 5000.00 4545.45 8,250 11 149,000 13545.45 9,000 9,750 167,000 12 180,000 195,000 210,000 225,000 240,000 15.000 15.000 117.000 13916.67 4166.67 13,000 8,500 2,500 15,000 15,000 13 186,500 207,500 230,000 254,000 279,500 306.500 335,000 365,000 136,500 157.500 14346.15 3846.15 10.500 19,500 21,000 22.500 24,000 11,250 14 15.000 15,000 50.000 14821.43 3571.43 3333.33 15,000 15 15,000 15,000 50,000 50,000 180,000 15333.33 15875.00 12,000 5,000 14,000 24,500 36.500 12,750 16 15,000 15,000 15,000 15,000 15,000 204,000 3125.00 17 255.000 15.000 50,000 50,000 229.500 16441.18 2941.18 13,500 14,250 15,000 15,750 25,500 27,000 28,500 270.000 18 15,000 15,000 15,000 256,500 285,000 17027.78 2777.78 19 285,000 300,000 50,000 17631.58 2631.58 50,000 18250.00 20 50,000 315,000 2500.00 30,000 65.000 3. Q-10. 10 fried chickens per hour produce in order to maximize profit. Explanation Under the perfectly competitive market of fried chickens, The profit is maximum where P MR AR MC At Q 10, AR MR MC 15,000. At Q- 10 profit is 17,500. Therefore, 10 fried chickens per hour produce in order to maximize profit. Q4. What is your restaurant’s profit (per hour) at that level of production (Q3)?

Question: Suppose That The Federal Government Is Considering A New Tax On Cigarettes That Is Estimated To Increase The Retail Price By $0.25 Per Pack. If The Current Price Per Pack Is $6.75, Use The Regression In Column (3) To Predict The Change In Demand. Is There Evidence That The Instruments In This Columns Are Weak? What Is The Relevant Test Statistic? Therefore, …

Two Stage Least Squares Estimates of the Demand for Cigarettes Using Panel Data for 48 U.S. States TABLE 12.1 Dependent variable: In(Qfgtes) – In(Qf sttes) (3) Regressor (1) (2) -1.34** (0.23) -1.20** (0.20) In(P8S -0.94** In(Pr i,1995 tes i,1985 (0.21) In(Inci1985) n(Inc4,1995) 0.46 0.53 (0.34) 0.43 – (0.30) (0.31) -0.02 Intercept -0.12 -0.05 (0.07) (0.07) (0.06) Both sales tax and Instrumental variable(s) Sales tax cigarette-specific tax Cigarette-specific tax First-stage F-statistic 33.70 107.20 88.60 Overidentifying restrictions J-test and p-value 4.93 (0.026) These regressions were estimated using data for 48 U.S. states (48 observations on the 10-year differences). The data are described in Appendix 12.1. The J-test of overidentifying restrictions is described in Key Concept 12.6 (its p-value is given in parentheses), and the first-stage F-statistic is described in Key Concept 12.5. Individual coefficients are statistically significant at the *5% significance level or **1% significance level

Question: Consider A River Found In The City Of Philadelphia, And Then Answer The Questions That Follow. The City Has A Hiking Lodge Whose Visitors Use The River For Recreation. The City Also Has A Research Lab That Dumps Industrial Waste Into The River. This Pollutes The River And Makes It A Less Desirable Vacation Destination. That Is, The Research Lab’s Waste …

Consider a river found in the city of Philadelphia, and then answer the questions that follow. The city has a hiking lodge whose visitors use the river for recreation. The city also has a research lab that dumps industrial waste into the river. This pollutes the river and makes it a less desirable vacation destination. That is, the research lab’s waste decreases the hiking lodge’s economic profit Suppose that the research lab could use different production method that involves recycling water. This would reduce the pollution in the river to levels safe for recreation, and the hiking lodge would no longer be affected. If the research lab uses the recycling method, then the research lab’s economic profit is $2,200 per week, and the hiking lodge’s economic profit is $3,200 per week. If the research lab does not use the recycling method, then the research lab’s economic profit is $3,000 per week, and the hiking lodge’s economic profit is $2,000 per week. These figures are summarized in the following table Complete the following table by computing the total profit (the research lab’s economic profit and the hiking lodge’s economic profit combined) with and without recycling. Profit Research Lab Hiking Lodge Total (Dollars) (Dollars) (Dollars) Action No Recycling 3,000 2,000 Recycling 2,200 3,200 Total economic profit is highest when the recycling production method is $3,200- $2,000 $1,200 recycling. When the research lab uses the recycling method, the hiking lodge earns more per week than it does with no Therefore, the hiking lodge should be willing to pay up to $1,200 per week for the research lab to recycle water. However, the recycling method decreases the research lab’s economic profit by $3,000- $2,200 $800 per week. Therefore, the research lab should be willing to use the recycling method if it is compensated with at least $800 per week. Suppose the hiking lodge has the property rights to the river. That is, the hiking lodge has the right to a clean (unpolluted) river. In this case, assuming the two firms can bargain at no cost, the research lab will the recycling method and will pay the hiking lodge per week Now, suppose the research lab has the property rights to the river, including the right to pollute it. In this case, assuming the two firms can bargain at no cost, the research lab will the recycling method, and the hiking lodge will pay the research lab per week The research lab will make the most economic profit when True or False: The research lab will use the recycling method only if the hiking lodge has the property rights. True False

Question: Suppose That The Federal Government Is Considering A New Tax On Cigarettes That Is Estimated To Increase The Retail Price By $0.25 Per Pack. If The Current Price Per Pack Is $6.75, Use The Regression In Column (3) To Predict The Change In Demand. From The Information Provided, What Can We Conclude About The Exogeneity Of The Instruments? Use A 5% Level …

Two Stage Least Squares Estimates of the Demand for Cigarettes Using Panel Data for 48 U.S. States TABLE 12.1 Dependent variable: In(Qfgtes) – In(Qf sttes) (3) Regressor (1) (2) -1.34** (0.23) -1.20** (0.20) In(P8S -0.94** In(Pr i,1995 tes i,1985 (0.21) In(Inci1985) n(Inc4,1995) 0.46 0.53 (0.34) 0.43 – (0.30) (0.31) -0.02 Intercept -0.12 -0.05 (0.07) (0.07) (0.06) Both sales tax and Instrumental variable(s) Sales tax cigarette-specific tax Cigarette-specific tax First-stage F-statistic 33.70 107.20 88.60 Overidentifying restrictions J-test and p-value 4.93 (0.026) These regressions were estimated using data for 48 U.S. states (48 observations on the 10-year differences). The data are described in Appendix 12.1. The J-test of overidentifying restrictions is described in Key Concept 12.6 (its p-value is given in parentheses), and the first-stage F-statistic is described in Key Concept 12.5. Individual coefficients are statistically significant at the *5% significance level or **1% significance level

Question: 1. Evaluate Whether The Statement Is True Or False. Explain Why Competitive Firm Never Produces When It Is Making A Negative Profit. A. B. In Cost Minimization, As Wage Increases, A Firm Will Always Decreases Labour Input Long Run Market Supply Curve In Perfect Competition Is Horizontal C. D. If Price Is Lower Than Equilibrium Price, Consumer Surplus …

1. Evaluate whether the statement is true or false. Explain why Competitive firm never produces when it is making a negative profit. a. b. In cost minimization, as wage increases, a firm will always decreases labour input Long run market supply curve in perfect competition is horizontal C. d. If price is lower than equilibrium price, consumer surplus is higher than the equilibrium since consumers can enjoy lower price.

Question: 2. (Perloff) A Bottling Company Uses Two Inputs To Produce Bottles Of The Soft Drink Suldge: Bottling Machines (K) And Workers (L). The Isoquants Have The Usual Smooth Shape. The Machine Costs $1,000 Per Day To Run: The Workers Earn $200 Per Day. At The Current Level Of Production, The Marginal Product Of The Machine Is An Additional 200 Bottles Per …

2. (Perloff) A bottling company uses two inputs to produce bottles of the soft drink Suldge: bottling machines (K) and workers (L). The isoquants have the usual smooth shape. The machine costs $1,000 per day to run: the workers earn $200 per day. At the current level of production, the marginal product of the machine is an additional 200 bottles per day, and the marginal product of labor is 50 more bottles per day. Is this firm producing at minimum cost? If it is minimizing cost, explain why. If it is not minimizing cost, explain how the firm should change the ratio of inputs it uses to lower its cost.

Question: 3. Suppose A Firm’s Short Run Marginal Cost, Average Cost, Average Variable Cost Curves Are Given As In The Below Graph MC PT AC AVC If Price Is P Graph In The Graph, Show The Optimal Output Of This Firm And Profit In The A. As

3. Suppose a firm’s short run marginal cost, average cost, average variable cost curves are given as in the below graph MC PT AC AVC If price is p graph in the graph, show the optimal output of this firm and profit in the a. as

Question: 3. Suppose A Firm’s Short Run Marginal Cost, Average Cost, Average Variable Cost Curves Are Given As In The Below Graph MC AC AVC Q B. What Is This Firm’s Supply Curve? Explain

3. Suppose a firm’s short run marginal cost, average cost, average variable cost curves are given as in the below graph MC AC AVC q b. What is this firm’s supply curve? Explain

The post Question: 4. Most Airlines Deliberately Double-book A Certain Number Of Seats On Each Flight, To Minimise Losses From Empty Seats When Some Passengers Fail To Turn Up. This Raises The Problem Of How To Decide Who Gets Left Behind When All The Passengers Turn Up. Over The Years A Variety Of Methods Have Been Used, Including The Following: I) First-come, First-served … appeared first on uniessay writers.

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