1. Start an FC-PC Lab Assignment document and save it to your drive. Note: As you complete the below exercises add them to your Assignment document and save it
2. Create the algorithms in both flowchart and pseudocode form for the following two program requirements:  
   • Given is the array prices with 100 elements(prices[100]). The problem consists of two parts:  1. Find the highest price in the array; and  2. Reduce that price by 10%
   • For any three numbers input by the user, output the numbers in ascending order.

2. Assume that Q_D = 800 - 4P and Q_S = -100 +P. If the government imposes the price floor P=190, what is the deadweight loss of the economy?

        a.    $1,350

        b.    $937.50

        c.     $1,012.50

        d.    $1,000

        e.    $562.50

3. Assume that Q_D = 800 - 4P and Q_S = -100 +P. If the government imposes the price ceiling P=190, what is the consumer surplus?

a.   $225                   

b.   $675

c.    $800

d.   $1350

e.   Not enough information to determine consumer surplus.

Scenario A: If the price of coffee went from $2/cup to $4/cup, and you reduced your consumption from 100 cups/month to 90 cups/month, what is the elasticity of demand? Scenario B:  If the price of coffee went from $2/cup to $4/cup, and you reduced your consumption from 100 cups/month to 40 cups/month, what is the elasticity of demand? Which scenario shows elastic demand and which shows inelastic demand?

A] If cost is $30/unit what must the minimum price be if the profit margin is 15%? B] Based on the figures in “A” above how many minimum units must have been produced to break even if 180 units were sold of those produced? C]. If the production units found in “B” above increased by 100% would the number of units sold need need to increase by 100% in order to break even if price increased by 50%? If not what would be the percentage change in number of units sold?

Consider a firm providing repairing services. Suppose that the total cost of repairing s cars is given by

c(s) = 2s²+ 100

where s is the number of repair services he provides.

(a) Find the marginal cost.

(b) In the short-run, if the price of repair services is $20, then how many services will be provided?

(c) If the price stays at $20, and the fixed cost of $100 also stays in the long-run (due to the fee for the permit, for example), then what would the firm do? Explain your answer.

© The Independent Institute of Education (Pty) Ltd 2020

Page 5 of 8

20 2020

Required:

Complete the following journals in your answer booklet, by providing the missing information and/or calculating the missing amounts for letters A to T:

 Cashbook Receipts;  Debtors Journal;
 General Journal.

Note: The missing letters correspond to the transactions listed in date order. You do not have to write the answers to the “?”. You will use these in your workings only, to assist you in completing A to T. Show all workings.
Round to the nearest Rand.

Suppose 10 red and 10 white balls are randomly distributed into 100 boxes. Let X be the total number of red balls in the first 25 boxes and Y be the total number of white balls in the first 75 boxes.

a) Find P(X + Y ≤ 1).

b) E(Y − X).

Topic 7

Book: Operations and Supply Chain Management Jacobs & Chase 14e

14. Merrimac Manufacturing has always purchased a certain component part from a supplier on the East Coast for $40 per part. The supplier is reliable and has maintained the same price structure for years. Recent improvements in operations and reduced product demand have cleared up some capacity in Merrimac’s own plant for producing component parts. The particular part in question can be produced internally by Merrimac at $25 per part, with an annual fixed investment of $30,000.

a) Over what range (quantity) of product would each of the two options be the preferred one?

b) As an alternative, a new supplier located nearby is offering to produce parts on the following cost schedule. For the first 100 parts, the cost is $52 per part. For each part in excess of 100, the cost per unit drops to $35 per part. Considering just the two suppliers, over what range (quantity) of product would each supplier be the preferred one?

Sheila attended an outdoor party with friends on a warm Saturday in July. The theme was "International Food". Sheila and her husband brought Argentinian beef empanadas. They followed the recipe and cooking time carefully taking the dish out of the oven at 2PM and kept it warm by wrapping it in a towel. They went to the party and put the food out on the table at 3PM. Dinner was to be served at 4PM but the guests were having so much fun that they did not eat until 6PM. Sheila sampled the empanadas to be sure that they still tasted good, however her husband did not taste the empanadas. Sheila also ate some green salad and garlic bread. She drank a ginger beer too. They went home at 11PM and went to bed. At midnight Sheila woke up knowing that something was wrong, she had severe abdominal pain and had to run to the bathroom. She had severe diarrhea for the next 4 hours. By the time the sun came up she was starting to feel better and by lunchtime she was feeling back to her old self. Her husband did not get ill. But on Monday she discovered that several of her friends were also sick Saturday night.

After reading Chapter 13, use facts from our text to write complete sentences answering the following:

1. Based on her symptoms, what type of food-borne illness did Sheila contract?

2. What is the specific food ingredient most likely to have caused this illness? Why?

3. Why is consuming food at large gatherings risky?

4. What precautions for avoiding food poisoning were ignored by Sheila and her friends at the party?

5. How could this scenario be rewritten to reduce the risk of food poisoning?