Question : 81) Suppose that the demand curve for desktop computers shifts : 1238399

Economics

81) Suppose that the demand curve for desktop computers shifts rightward and at the same time the supply curve shifts leftward. Which of the following could have caused these shifts?

A) Desktop computers are a normal good and incomes increased, while more firms entered the market.

B) The price of a laptop computer, a substitute for desktop computers, fell and the cost of producing desktop computers decreased.

C) Consumers purchased more computers because of the Christmas season and the labor costs of producing desktop computers decreased.

D) Desktop computers are a normal good and incomes increased, while the labor costs of producing personal computers increased.

E) Desktop computers are a normal good and incomes decreased, while the labor costs of producing personal computers increased.

82) If the demand curve for desktop computers shifts rightward and at the same time the supply curve shifts leftward, then

A) the equilibrium price definitely rises.

B) the equilibrium price definitely falls.

C) the equilibrium price definitely remains the same.

D) More information is needed to determine the effect on the equilibrium price.

E) the equilibrium quantity definitely increases.

83) If the demand curve for desktop computers shifts rightward and at the same time the supply curve shifts leftward, then

A) the equilibrium quantity definitely increases.

B) the equilibrium quantity definitely decreases.

C) the equilibrium quantity definitely remains the same.

D) More information is needed to determine the effect on the equilibrium quantity.

E) the equilibrium price definitely falls.

84) The demand for oranges increases while the supply decreases. The equilibrium price of oranges ________, and the equilibrium quantity ________.

A) rises; decreases

B) falls; perhaps changes but we can’t say if it increases, decreases, or stays the same

C) falls; increases

D) does not change; perhaps changes but we can’t say if it increases, decreases, or stays the same

E) rises; perhaps changes but we can’t say if it increases, decreases, or stays the same

85) The demand for cat food decreases while the supply increases. The equilibrium price of cat food ________, and the equilibrium quantity ________.

A) does not change; increases

B) rises; decreases

C) falls; perhaps changes but we can’t say if it increases, decreases, or stays the same

D) rises; perhaps changes but we can’t say if it increases, decreases, or stays the same

E) falls; increases

86) Suppose the government imposes a small carbon tax on automakers. But the price of gasoline has doubled due to a Middle East crisis which has reduced oil production. In the market for autos, these changes mean that supply and demand have both changed with the effect on the demand larger than the effect on the supply. The result is that the price of autos will ________ and the number of autos sold will ________.

A) rise; perhaps change but we can’t say if it increases, decreases, or stays the same

B) rise; increase

C) rise; decrease

D) fall; perhaps change but we can’t say if it increases, decreases, or stays the same

E) fall; decrease

87) If both producers and consumers believe that a product’s price will rise in the future, then at the present, demand ________ and supply ________.

A) increases; increases

B) decreases; decreases

C) increases; decreases

D) decreases; increases

E) does not change; does not change

88) If both producers and consumers believe that a product’s price will rise in the future, then at the present, the equilibrium price

A) does not change.

B) rises.

C) falls.

D) might rise, fall, or not change, but the change can never be predicted.

E) might rise, fall, or not change depending on whether the effect from the producers is greater than or less than the effect from the consumers.

89) The equilibrium price of a good occurs if the

A) quantity of the good demanded equals the quantity of the good supplied.

B) quantity of the good demanded is greater than the quantity of the good supplied.

C) quantity of the good demanded is less than the quantity of the good supplied.

D) demand for the good is equal to the supply of the good.

E) price of the good seems reasonable to most buyers.

90) If there is a surplus of a good, the quantity demanded is ________ the quantity supplied and the price will ________.

A) less than; rise

B) less than; fall

C) greater than; rise

D) greater than; fall

E) equal to; fall

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July 1, 2023

Project 2: Making Decisions That are Legal and Ethical
Start Here

Transcript

When you’re back at work on Monday morning, VP Kenneth Dodger stops by your office. “It looks like you’re cut out for this kind of work,” he says. “Great job on your last project. Are you ready for a couple more?”

Kenneth starts to explain the variety of issues Colossal’s subsidiaries have with both their domestic and international operations. Sometimes the legal ramifications and the right decisions to make are obvious; other times, they’re entirely ambiguous. This is especially true when it comes to contracts and international disputes and agreements. Kenneth begins to talk about the obscurity of some kinds of international agreements, but catches himself rambling.

“I’ll let you look at the case files first so you can become familiar with the issues at play here. At one of our US-based subsidiaries, we have a contract issue. I’m looking for a report on the legal and ethical issues associated with that case.”

“Abroad,” he continues, “a few of our subsidiaries are having trouble navigating international law, international contracts, and international dispute resolution. I’m going to loop in into a discussion with some colleagues about how best to handle these issues.”

Kenneth steps out into the hallway. “I’m looking forward to seeing your work,” he says. “Good luck.”

In this project, you will aid Vice President Dodger of Colossal Corporation by analyzing complicated issues that have arisen in different subsidiaries of the company. These situations require the company to make legal and ethical decisions. You will be presented with a number of readings to familiarize yourself with relevant laws and with resources that guide you in making ethical decisions. You will produce a report for the VP that includes specific recommendations based on what you have found in the readings and will engage in a discussion on international legal challenges.

Begin in Step 1, where you will review the first case.

Competencies

Your work will be evaluated using the competencies listed below.

· 1.1: Organize document or presentation clearly in a manner that promotes understanding and meets the requirements of the assignment.

· 1.3: Provide sufficient, correctly cited support that substantiates the writer's ideas.

· 1.6: Follow conventions of Standard Written English.

· 1.7: Create neat and professional looking documents appropriate for the project or presentation.

· 2.1: Identify and clearly explain the issue, question, or problem under critical consideration.

· 2.2: Locate and access sufficient information to investigate the issue or problem.

· 2.3: Evaluate the information in a logical and organized manner to determine its value and relevance to the problem.

· 2.4: Consider and analyze information in context to the issue or problem.

· 2.5: Develop well-reasoned ideas, conclusions or decisions, checking them against relevant criteria and benchmarks.

· 5.1: Develop constructive resolutions for ethical dilemmas based on application of ethical theories, principles and models.

· 5.2: Assess the implications of legal, ethical and cultural (national) standards on an organization's operations in global markets and make recommendations for appropriate actions.

· 5.4: Resolve workplace conflicts using the optimal approaches and techniques for the situation and involved parties.

· 7.2: Analyze the implications of contract law and make recommendations to support business decisions.

· 7.3: Analyze the implications of civil or criminal wrongs and of product or service liability laws, and make recommendations to support business decisions.

· 7.4: Analyze the impact of international and foreign laws on US organizations acting domestically and abroad.

· 7.5: Analyze the utility of various forms of dispute resolution and make recommendations to support business decisions.

· 9.3: Apply the principles of employment law for ethical practices and risk mitigation.

· Step 1: Review Turnip Plaza Hotel Case

· Invigorated by your early success at Colossal Corporation, you open

The Turnip Plaza Hotel case file
Kenneth Dodger has provided to you. In the next step, you will gather the information you need to write the report.

· Step 2: Gather and Analyze Information

·
INBOX (1 NEW EMAIL)

·
From: Kenneth Dodger, Vice President, Colossal Corporation

·
To: You

· Good morning,

· Hope you’ve had time to review the case file on The Turnip Plaza Hotel. In order to formulate a sound response to my questions, you’ll need to review a number of specific foundational issues involving legal contracts.

· First, find the necessary information about

contract formation and execution
. Then, look into possible

contract remedies
for when a breach of contract occurs. As you read over this information, be sure to record your thoughts pertaining to the case, while noting the places in the readings that prompted your thoughts.

· After you have refreshed your understanding of contract law generally, you should supplement that understanding by doing

legal research
on specific laws related to contracts in Michigan. Again, make sure to take notes as you read. Good notes will help you write your report.

· Thinking over this case, put some of your focus on Edward Griffin's role in this situation with Mark Piper. More specifically, consider whether Edward had the authority to make the promise he made (or any promises) to Mark.

· Review the

legal responsibilities of agents and employees
to help formulate your answer. You should also review

ethical business decision making
, as it pertains to keeping promises in business situations and the ethical questions I have asked you to consider.

· I trust you to perform with the same tenacity as you did with the first cases.

· Thanks,

· Ken

·
email signature with Colossal Corporation logo and Kenneth L. Dodger, Vice President

· In the next step, you will use what you have learned to create an outline that will prepare you to write the report.

Step 3: Focus on Your Rationale and Conclusions: Create Your Outline

You've finished your research and reflected on how the facts and the law come together in this situation. You've also analyzed the possible arguments and determined which seem most reasonable (all things considered). Now it is time to formulate them, making sure to address all the concerns that VP Dodger expressed to you when you met. Outline the report that you will draft for your VP and review your document to make certain it covers all relevant points and progresses in a logical order.

After you finish the outline, if you have time, give yourself one night of sleep before you begin the next step, in which you will write the report. Fresh eyes might help you see points that need revision.

Step 4: Communicate Your Findings and Conclusions to the VP: Create Your Report

Use your outline and research notes to prepare your report for the VP. Be sure to meet the following requirements he has requested:

· Format your report by including APA-formatted in-text citations and an APA-formatted reference list (do not format the body of the report using APA style, just the reference list). See

references and citations
for details.

· Include a specific recommendation of what action, if any, the VP should take based on your analysis and conclusions.

· Support your conclusion with references to legal principles and laws.

· The report should be no more than 10 pages (double spaced, 12-point font; the reference list does not count towards page limit).

· Title your file using this protocol: yourlastname_TurnipPlazaReport_date.

Submit your Turnip Plaza report to the Assignments folder. You should try to have this report complete by the end of Week 4.

In the next step, you will begin work on navigating some of the international legal challenges Colossal is facing.

Step 5: Review Colossal’s International Legal Challenges

Successfully completing the Turnip Plaza report, you’re ready to review your next assignment: the
International Legal Challenges case file.

You open the file and read over the specifics of this situation. You soon see that VP Dodger is concerned about some of the risks involved with a number of Colossal’s international projects.

In the next step, you will gather the information you need to identify important issues for the VP.

Step 6: Gather and Analyze the Information

While you have some general awareness that there are many ramifications of international transactions from a legal perspective, including dispute resolution provisions, you realize that you need to know a lot more about this subject before you can attempt to respond to the VP's questions.

You begin by researching
international law,
international contracts, an
introduction to alternative dispute resolution, and
international dispute resolution.

Step 7: Engage in the International Legal Challenges Discussion

Discussion with Colleagues

Now that you’ve gathered and analyzed information on the International Legal

Challenges case file, Vice President Dodger would like you to discuss your thoughts with the other members of his special investigations team. He sends you two requirements for this discussion:

First, each participant is to post an initial response to at least two of the five questions noted in the International Legal Challenges file. This should be completed during Week 5 and should meet the following requirements:

· Include a specific recommendation of what action, if any, the VP should take based on your analysis and conclusions.

· Support your conclusion with references to legal principles and laws.

· These posts can be as long or as short as you need in order to effectively make your points.

Second, each participant must provide a substantive response to at least one posting from a colleague in the discussion, critiquing the initial post by appealing to legal and business considerations. This should be completed during Week 5.

Consult

MBA Discussion Guidelines
for instructions on participation in discussions.

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