Question : 41) If the selling price of a firm’s product $500 : 1387959

Economics

41) If the selling price of a firm’s product is $500 and the estimated average cost of producing this product is $400, what is the firm’s markup?

A) 15 percent

B) 20 percent

C) 25 percent

D) 40 percent

42) Which of the following is not an advantage of cost-plus pricing?

A) It is easy to calculate.

B) It requires little information.

C) If a firm is selling multiple products, it ensures that the firm’s prices will cover costs that are difficult to assign to one product.

D) It ensures that the firm will maximize its profits.

43) Which of the following firms is most likely to use cost-plus pricing?

A) A firm that makes one product.

B) A firm that sells one product and has a sizable research and development budget.

C) A firm that makes several products and has a sizable research and development budget, the cost of which cannot be easily assigned to each product.

D) A firm that makes many products but has a small research and development budget, the cost of which can be easily assigned to the different product lines.

44) Cost-plus pricing would be consistent with selecting the profit-maximizing price when

A) it results in a price that causes quantity sold to be where marginal revenue equals marginal cost.

B) a firm has no difficulty estimating its demand curve.

C) consumers value the product beyond its marginal cost.

D) the demand for the firm’s product is unit-elastic.

45) Cost-plus pricing may be a reasonable way to determine price when

A) marginal cost and average fixed cost are roughly equal.

B) marginal cost and average cost are about the same.

C) marginal cost differs significantly from average cost.

D) marginal cost is very low.

46) Book publishers often use a cost-plus pricing strategy. One reason for this is

A) most publishers do not hire economists who can determine the number of books they must sell to equate marginal cost and marginal revenue.

B) publishers do not want to incur the expense of determining the profit-maximizing strategy. They prefer cost-plus pricing because of its lower cost.

C) much of the cost of publishing textbooks is difficult to assign to any particular book.

D) bookstores, not publishers, ultimately determine how many books will be produced.

47) Cost-price pricing typically does not result in profit-maximization. As a result, economists have two views of cost-plus pricing. One of these views is

A) cost-plus pricing is more likely to lead to profit-maximization for large firms than for small firms.

B) cost-plus pricing is a good way to approximate the profit-maximizing price when marginal revenue or marginal cost is difficult to determine.

C) cost-plus pricing is more likely to lead to profit-maximization for monopolistically competitive firms than for oligopoly firms.

D) cost-plus pricing is more likely to result in profit-maximization the more elastic the firm’s demand curve is.

48) Even though it often does not result in profit maximization, some small firms use a cost-plus pricing strategy anyway because

A) it is easy to use.

B) they do not understand what marginal revenue and marginal cost mean.

C) it is expensive to hire an economist who can determine what the profit-maximizing price is.

D) they sell several products, each of which sells for a different price. The time and expense involved in finding the profit-maximizing price for each product are not worth the effort.

49) Though large firms have the knowledge and resources to utilize a better pricing strategy, many choose to use cost-plus pricing. One reason for this is that

A) large firms do not have to maximize their profits because they face little competition from other firms.

B) there is less risk of violating antitrust laws if a cost-plus pricing strategy is used rather than a profit-maximizing pricing strategy.

C) the additional revenue that would result from a profit-maximizing pricing strategy is an insignificant fraction of the firms’ revenues.

D) firms often adjust the markup they charge to reflect current demand.

50) Which of the following statements about two-part tariffs is false?

A) Because each individual has a different individual demand curve, if there is just one entrance fee, some consumers will be able to reap some consumer surplus.

B) The producer cannot capture the entire consumer surplus because the entrance fee might discourage some potential consumers even though they would have been willing to pay a lesser entrance fee.

C) Two-part tariff pricing allows a producer to capture the entire consumer surplus.

D) For two-part tariff pricing to be successful, the producer must be able to identify two distinct customer groups.

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July 1, 2023

You have been learning about how developmental assets can be built into your instructional models, and how to use that knowledge to support community-wide efforts to strengthen and support the adults and youth in your community, including identified classifications of Latino, African-American, and youth with disabilities.

We have identified and evaluated the existing programs in your community based on the 40 Developmental Assets model and brainstormed ways that you can use that model to create or support the existing programs within your local school and/or community.

Using reflection and analysis, you identified a specific initiative that meets an identified need in your community and has the potential to be immediately incorporated into your instructional setting or community.

Your Final Project is composed of three different categories that will be submitted as a complete unit. These categories include:

1. Designing a multimedia presentation or slideshow created in a program of your choice (PowerPoint, Google Presentation, Prezi, etc.). The presentation will illustrate the initiative for students, parents, and/or community.

2. Designing visual resources and handouts that illustrate your initiative and contribute to the presentation.

3. Writing an eight- to twelve- page paper that outlines your processes and that can be used to introduce and support your initiative.

Your multimedia presentation or slideshow can be created in a format of your choice (Microsoft PowerPoint, Google Presentation, Prezi, etc.) and should last between 5 and 15 minutes when presented orally.

Your presentation should include, but not be limited to:

· A definition of the purpose of your initiative, vision, and mission.

· A brief overview that illustrates the 40 Developmental Assets.

· A graphic that diagrams your community based on researched data.

· An illustration of how your initiative will support or create a positive environment and/or enhance an existing program or practice using proven methods with and for young people.

· A reference slide citing all sources using APA format.

Your created resources and handouts should include the final copies of the Student Handout created in Week Three, the Resource Table finalized in Week Four, and the Communication Guide created in Week Five.

Your written paper should be eight to twelve pages in length (excluding title and reference pages), and be formatted according to APA style as outlined in the Ashford Writing Center.

Your paper should include the following topics/headings:

· Describe, through a brief narrative, your initiative, vision, and mission.

· Summarize your community’s demographics, including those that are related specifically to the 40 Developmental Assets as outlined in your text.

· Outline the steps that you have taken, or will take, to achieve your vision through a graphics or written narrative.

· Summarize how you arrived at your initiative based on your community needs as outlined in the demographics. Examine your thought process for developing your mission/vision statement.

· Examine the internal and external assets you are focused on and explain why.

· Specify how your initiative addresses at least four of the Five Action Strategies as identified in your text.

· Illustrate, through a short written explanation, how you evaluated the process.

· Defend your plan for growing and sustaining your initiative.

You may use any or all of the instructional materials you have created during our course. Your completed Final Project should include references and citations for a minimum of five scholarly sources in addition to your text book.

Carefully review the Grading Rubric (Links to an external site.) for the criteria that will be used to evaluate your assignment.

Instructor Guidance

Week 6

In our final week of this class, the biggest part is completing your final project. To help you with that, we have a few things to do. If we look at the learning outcomes for the week, the first one listed is that you will create a media presentation that addresses a need in your school or community. Of course, you will also supply a paper that describes how you are going to start your specific community project but you’ll notice that you are also going to evaluate the process of creating a program. A wonderful, short, video on such a presentation that covers many of the topics required for your final project can be seen at this link: Highlights: Magnolia Community Initiative Overview (Links to an external site.). Please take 4 minutes and watch!

In the discussion for this week you are asked to create a draft outline of your final project and post it. It will be really important for you to post his early this week as you can so that others will be able to see and provide feedback for your outline. You are posting this outline for your classmates to review so that you will be more certain that you are covering all the bases. When you read each other’s outlines, please provide instructive recommendation and specific suggestions on how to improve the organization and ideas.

See the full work assignment attached.