d) As the procurement officer for NOPT, describe how the evaluation process would be done with particular reference to any five (5) factors that would be appropriate to consider as evaluation criteria.

under purchasing and supply chain management

Fill in the blanks in the table below.

1. In general, the marginal cost curve is U-shaped as you learned in lectures and the textbook. However, exception exists. Please provide one particular industry as an example to illustrate that MC is not U-shaped. Explain briefly the shape of MC in the industry. 2. Engineers at a national research laboratory built a prototype automobile that could be driven 180 miles on a single gallon of gasoline. They estimated that in mass production the car would cost $40,000 per unit to build. The engineers argued that Congress should force U.S. automakers to build this energy-efficient car. In your opinion, is energy efficiency the same thing as economic efficiency? Please explain your opinion and state whether you support it or not.

Explain Dupuit's theory of price discrimination. Is that theory still valid today. Have you ever been subject to price discrimination. Provide up to 3 specific examples.

1. The demand curve for a good is given by the equation P = 200 - 1/4 Q and the supply curve is given by the equation P = 50 + 1/2 Q, where P represents the price of the good (measured in dollars per unit) and Q represents the quantity of the good (measured in units per week).

If the government imposes a sales tax of $9 per unit on this good. Find the new formula for the demand curve, the change in equilibrium quantity, the post-tax price received by suppliers, and the post-tax price paid by buyers. Illustrate graphically as well.

The White Noise Corporation has estimated the following Cobb-Douglas production function using monthly observations for the past two years:

ln Q = 1.386 + 0.20 ln K  + 0.30 ln L + 0.25 ln N

where Q is the number of units of output, K is the number of units of capital, L is the number of units of labor, and N is the number of units of raw materials. With respect to the above results, answer the following questions when K = 400, L = 800 and N =200.  

a) Determine whether the returns to scale are increasing, decreasing or constant.

b) Suppose the price of capital is $5.25 per unit, the price of labor is $7, and the price of raw materials is $17.50 per unit.  This is an optimal combination of resources.

c) What price would the company have to charge for the product to maximize profit?

1.)

a. Explain the difference between the Long Run Aggregate Supply Curve (Potential Output) and the Short Run Aggregate Supply Curve.

b.  Explain what a recessionary gap is and how the economy self-corrects and returns to potential output.

c. Graph and explain demand pull inflation and Graph and explain cost push inflation.

A firm is considering purchasing a machine that costs
$55,000. It will be used for six years, and the salvage value at
that time is expected to be zero. The machine will save
$25,000 per year in labor, but it will incur $7,000 operating
and maintenance costs each year. The machine will be
depreciated according to six years straight line method. The
firm’s tax rate is 40% and its after-tax MARR is 15%. Should
the machine be bought?

1. What is the warranty of merchantability?

2. What is the warranty of fitness for a particular purpose?

3. What is a disclaimer?

4. What is the difference between personal property and real property?

5. What is abandonment?

6. What is a bailment?

Q4: What are the arguments for having corporate governance issues regulated at the federal rather then state level? Do you support these arguments?

The book is Strategic Corporate Social Responsibility chapter#5

The healthy spring water company sells 10-gallon bottles of water for water fountains. It sells 2000 bottles a day at a price of $20. The company’s daily revenues and costs are:

            Sales revenues             $40,000

            Variable costs             $16,000

            Fixed costs                  $20,000

Although the company grew rapidly in the past decade, sales have been rather stagnant in the last year. The problem is that the market for spring water has grown large enough that grocery stores have begun to carry it at prices below those of healthy spring.

The company is considering raising the price by 15% and repositioning its water as a premium brand. Healthy Spring believes that it will be able to keep most of its loyal customers with a price increase. How many units loss can Healthy Spring tolerate before the price increase would become unprofitable?  

Questions 5, 6, and 7 consider the perfectly competitive market for Honey. Honey is produced by beekeepers, each of which have traditional U-shaped average cost curves. There are many firms in the honey industry, each producing a homogeneous product: honey. Market demand for honey can be characterized as a downward sloping linear function.

Question 5: For this question, ignore any externalities that might be associated with the production of honey. Graphically indicate the demand (D0) and Supply (S0) and the equilibrium in the market for honey. Show the equilibrium price and quantity, Q0 and P0. Indicate on your graph the areas of consumer surplus and producer surplus. What is the output level the Benevolent Dictator would like to see in this market? Why?

Question 6:

Now suppose that scientists have discovered that the production of honey has a very significant positive externality. The main input into honey production, honey bees, are most effective when there are orchards nearby. The bees gather nectar from the orchards and simultaneously pollinate the orchard. This pollination is very valuable to the orchard.

However, honey firms (beekeepers) are not compensated for this positive impact on orchards. This positive externality means that the true marginal social value of producing honey is different than the marginal private value of the consumption of honey. Indeed, the Marginal Social Value for the industry would be the sum of the marginal private value (the demand curve) plus the positive impact each unit of honey production has on orchards. That is, in the eyes of the benevolent dictator, the production of honey has Marginal Social Value per unit higher than the marginal private value (the demand curve).

• Construct another graph. Show the original demand and supply (labeled correctly as D₀and S₀) and equilibrium price (P₀) and quantity (Q₀).
• Now add another curve that reflects the Marginal Social Value given the existence of the positive externality, and label it appropriately.
• What, if anything, happens to price and quantity of honey established in the marketplace, given the presence of this positive externality?
• What is the output Q_SO6the Benevolent Dictator would choose (where SO6 stands for Socially Optimal output here in question 6, which may or may not be different than the socially optimal output you found in question 5)?
• Indicate graphically and explain in a narrative the area of deadweight loss (DWL), if any, given the existence of this positive externality. What does deadweight loss mean in this context?

Nick and Tim are considering contributing toward the creation of a water fountain. Each can choose whether to contribute $300 to the water fountain or to keep that $300 for a pool table.

Since a water fountain is a public good, both Nick and Tim will benefit from any contributions made by the other person. Specifically, every dollar that either one of them contributes will bring each of them $0.70 of benefit. For example, if both Nick and Tim choose to contribute, then a total of $600 would be contributed to the water fountain. So, Nick and Tim would each receive $420 of benefit from the water fountain, and their combined benefit would be $840. This is shown in the upper left cell of the first table.

Since a pool table is a private good, if Nick chooses to spend $300 on a pool table, Nick would get $300 of benefit from the pool table and Tim wouldn't receive any benefit from Nick's choice. If Nick still spends $300 on a pool table and Tim chooses to contribute $300 to the water fountain, Nick would still receive the $210 of benefit from Tim's generosity. In other words, if Nick decides to keep the $300 for a pool table and Tim decides to contribute the $300 to the public project, then Nick would receive a total benefit of $300+$210=$510$300+$210=$510, Tim would receive a total benefit of $210, and their combined benefit would be $720. This is shown in the lower left cell of the first table.

Complete the following table, which shows the combined benefits of Nick and Tim as previously described.

Of the four cells of the table, which gives the greatest combined benefits to Nick and Tim?

When both Nick and Tim contribute to the water fountain

When neither Nick nor Tim contributes to the water fountain

When Nick contributes to the water fountain and Tim doesn't, or vice versa

Now, consider the incentive facing Nick individually. The following table looks similar to the previous one, but this time, it is partially completed with the individual benefit data for Nick. As shown previously, if both Nick and Tim contribute to a public good, Nick receives a benefit of $420. On the other hand, if Tim contributes to the water fountain and Nick does not, Nick receives a benefit of $510.

Complete the right-hand column of the following table, which shows the individual benefits of Nick.

Hint: You are not required to consider the benefit of Tim.

If Tim decides to contribute to the water fountain, Nick would maximize his benefit by choosing   to the water fountain. On the other hand, if Tim decides not to contribute to the water fountain, Nick would maximize his benefit by choosing   to the water fountain.

These results illustrate   .

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list and explain the three typical procedures for transferring a juvenile to criminal court

Suppose that the cost function of a firm is c(y) = 3y²+ 75.

(a) What are the fixed costs and variable costs?

(b) Determine the minimum average cost. Derive and sketch in a diagram the average variable cost (AVC), marginal cost (MC), and average cost (AC).

(c) Derive the supply curve.

(d) When the market price is 45, what are the quantity supplied and profit / loans?

(e) When the market price s 15, what ane the quantity supplied and profit / loss?