Given demand curve for Silvana Chocolates Company ( SCC ) QD = 10,000 - 25P.

a. How many Bars could be sold for $100?

b. At what price would SCC sales fall to zero?

c. What is the total revenue (TR) equation for SCC in terms of output, Q? What is the marginal revenue equation in terms of Q?

d. What is the point-price elasticity of demand when P = $150 ? What is total revenue at this price? What is marginal revenue at this price?

e. Suppose that the price of SCC rose to P = $250.What would be the new point-price elasticity of demand? What is total revenue at this price? What is marginal revenue at this price?

f. Suppose that the supply Curve of SCC is given by the equation QS = -5,000 + 50P.What is the relationship between quantity supplied and quantity demanded at a price of $300?

g. In this market, what is the equilibrium price and quantity?

If demand for toys is QD = 500 – 10P and supply is Qs = 100 + 10P, answer the following questions using calculus:

a. If the government imposes a restriction that price per toy cannot exceed $15, calculate the ΔCS, ΔPS, and DWL from the price ceiling.

b. If the government imposes a restriction that price per toy cannot be lower than $18, calculate the ΔCS, ΔPS, and DWL from the price floor.

c. If the government promises toy producers a price of $25 per unit and will buy up any excess supply to support that price, calculate the ΔCS, ΔPS, and DWL from the price support.

d. If the government promises toy producers a price of $22 per unit and will pay the difference between $22 and the price producers receive from consumers, calculate the ΔCS, ΔPS, and DWL from the price support.

Language: c++

using visual basic

Write a program to open a text file that you created, read the file into arrays, sort the data by price (low to high), by box number (low to high), search for a price of a specific box number and create a reorder report. The reorder report should alert purchasing to order boxes whose inventory falls below 100. Sort the reorder report from high to low. Inventory data to input. Box number Number boxes in stock Price per box 202020 120 2.99 121202 50 .92 201620 340 1.03 242424 10 3.50 373737 200 9.00 723636 2 10.00 241206 100 2.10 363636 120 9.50 101010 1000 .10 101210 200 6.80 Requirements: 1. Save the data to a text file. Create the file in either Note Pad or other text editor. 2. In the program, read the data into arrays. 3. Use a menu driven program with the following choices: a. Display the data b. Sort the data by price, low to high c. Sort the data by box number, low to high d. Look up the price of a box given the box number (do a binary search) e. Reorder report. Report any item with number of boxes below 100. Sort the output from high to low. f. Exit the program 4. Each of the above options should be a function 5. Output must be labeled and easy to read 6. Appropriately pass parameters, declare local variables and use arrays. 7. Program must be documented with comments explaining what the code does

Language: c++

using visual basic

Write a program to open a text file that you created, read the file into arrays, sort the data by price (low to high), by box number (low to high), search for a price of a specific box number and create a reorder report. The reorder report should alert purchasing to order boxes whose inventory falls below 100. Sort the reorder report from high to low. Inventory data to input. Box number Number boxes in stock Price per box 202020 120 2.99 121202 50 .92 201620 340 1.03 242424 10 3.50 373737 200 9.00 723636 2 10.00 241206 100 2.10 363636 120 9.50 101010 1000 .10 101210 200 6.80 Requirements: 1. Save the data to a text file. Create the file in either Note Pad or other text editor. 2. In the program, read the data into arrays. 3. Use a menu driven program with the following choices: a. Display the data b. Sort the data by price, low to high c. Sort the data by box number, low to high d. Look up the price of a box given the box number (do a binary search) e. Reorder report. Report any item with number of boxes below 100. Sort the output from high to low. f. Exit the program 4. Each of the above options should be a function 5. Output must be labeled and easy to read 6. Appropriately pass parameters, declare local variables and use arrays. 7. Program must be documented with comments explaining what the code does

Inventory Costing Methods-Periodic Method The following information is for the Bloom Company for 2012; the company sells just one product: Units Unit Cost Beginning Inventory 200 $70 Purchases: Feb. 11 500 $74 May 18 400 76 Oct. 23 100 80 At December 31, 2012, there was an ending inventory of 360 units. Assume the use of the periodic inventory method. Calculate the value of ending inventory and the cost of goods sold for the year using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted-average cost method. Round your answers to the nearest dollar.

Using the Case Study below, answer the following questions

Case Study

Some of the largest economic fluctuations in the U.S. economy since 1970 have originated in the oil fields of the Middle East. Crude oil is a key input into the production of many goods and services, and much of the world’s oil comes from Saudi Arabia, Kuwait and other Middle Eastern countries. When some event (usually political in origin) reduces the supply of crude oil flowing from this region, the price of oil rises around the world. U.S. firms that produce gasoline, tires, and many other products experience rising costs, and they find it less profitable to supply their output of goods and services at any given price level. The first episode of this sort occurred in the mid-1970s. The countries with large oil reserves got together as members of OPEC (the Organization of Petroleum Exporting Countries). OPEC reduced production and oil approximately doubled in price from 1973 to 1975.

Almost the same thing happened a few years later. In the late 1970s, the OPEC countries again restricted the supply of oil to raise the price. From 1978 to 1981, the price of oil more than doubled. In 1986, squabbling broke out among members of OPEC. Member countries reneged on their agreements to restrict oil production. In the world market for crude oil, prices fell by a half. This fall in oil prices reduced costs to U.S. firms. In recent years, the world market for oil has not been as important a source of economic fluctuations. Part of the reason is that conservation efforts and changes in technology have reduced the economy’s dependence on oil.

a. Explain the short-run and long-run impacts of oil price increase on output and price level in the U.S. during 1973-1975 periods using the model of aggregate demand and aggregate supply. No need to draw the AD-AS diagram. Explain in words.

Note (required in the answer) : 1) what would happen to the AS-AD diagram in the SHORT RUN (FIRST PARAGRAPH)

2) link it back with the impacts of oil price increase on output and price level in the U.S. during 1973-1975 (FIRST PARAGRAPH)   

3) what would happen to the AS-AD diagram in the long run (SECOND PARAGRAPH)

4) link it back with the impacts of oil price increase on output and price level in the U.S. during 1973-1975 (SECOND PARAGRAPH)

b. Explain the short-run and long-run impacts of oil price fall on output and price level in the U.S. in 1986, using the model of aggregate demand and aggregate supply. No need to draw the AD-AS diagram. Explain in words.

Note (required in the answer) : 1) what would happen to the AS-AD diagram in the SHORT RUN (FIRST PARAGRAPH)

2) link it back with the impacts of oil price fall on output and price level in the U.S. in 1986 (FIRST PARAGRAPH)   

3) what would happen to the AS-AD diagram in the long run (SECOND PARAGRAPH)

4) link it back with the impacts of oil price fall on output and price level in the U.S. in 1986 (SECOND PARAGRAPH)  

Refer to case study

Subject (Macroeconomics)

Using the Case Study below, answer the following questions

Case Study

Some of the largest economic fluctuations in the U.S. economy since 1970 have originated in the oil fields of the Middle East. Crude oil is a key input into the production of many goods and services, and much of the world’s oil comes from Saudi Arabia, Kuwait and other Middle Eastern countries. When some event (usually political in origin) reduces the supply of crude oil flowing from this region, the price of oil rises around the world. U.S. firms that produce gasoline, tires, and many other products experience rising costs, and they find it less profitable to supply their output of goods and services at any given price level. The first episode of this sort occurred in the mid-1970s. The countries with large oil reserves got together as members of OPEC (the Organization of Petroleum Exporting Countries). OPEC reduced production and oil approximately doubled in price from 1973 to 1975.

Almost the same thing happened a few years later. In the late 1970s, the OPEC countries again restricted the supply of oil to raise the price. From 1978 to 1981, the price of oil more than doubled. In 1986, squabbling broke out among members of OPEC. Member countries reneged on their agreements to restrict oil production. In the world market for crude oil, prices fell by a half. This fall in oil prices reduced costs to U.S. firms. In recent years, the world market for oil has not been as important a source of economic fluctuations. Part of the reason is that conservation efforts and changes in technology have reduced the economy’s dependence on oil.

a. Explain the short-run and long-run impacts of oil price increase on output and price level in the U.S. during 1973-1975 periods using the model of aggregate demand and aggregate supply. No need to draw the AD-AS diagram. Explain in words.

*Two paragraphs: 1st on Short Run

2nd on Long Run

Note (required in the answer) : 1) what would happen to the SHORT RUN AS-AD diagram (FIRST PARAGRAPH)

2) link it back with the impacts of oil price increase on output and price level in the U.S. during 1973-1975 (FIRST PARAGRAPH)   

3) what would happen to the LONG RUN AS-AD diagram (SECOND PARAGRAPH)

4) link it back with the impacts of oil price increase on output and price level in the U.S. during 1973-1975 (SECOND PARAGRAPH)

b. Explain the short-run and long-run impacts of oil price fall on output and price level in the U.S. in 1986, using the model of aggregate demand and aggregate supply. No need to draw the AD-AS diagram. Explain in words.

*Two paragraphs: 1st on Short Run

2nd on Long Run

Note (required in the answer) : 1) what would happen to the SHORT RUN AS-AD diagram (FIRST PARAGRAPH)

2) link it back with the impacts of oil price fall on output and price level in the U.S. in 1986 (FIRST PARAGRAPH)   

3) what would happen to the LONG RUN AS-AD diagram (SECOND PARAGRAPH)

4) link it back with the impacts of oil price fall on output and price level in the U.S. in 1986 (SECOND PARAGRAPH)  

Refer to case study

Subject (Macroeconomics)

The Happy Holiday Touring Company has developed a novel way of selling vacation packages. The company would like to promote this idea over the next few years before the competition creates their own vacation clubs, however there is some concern regarding a projected recession and the effect this may have on their share price.

Earnings and dividends are expected to grow at a rate of 1% in the first year, -2% in the

second year and at a constant rate of 3% thereafter. The required rate of return for this

industry is 5%. Last year, the company paid a dividend of $1.10 per share.

(Timeline required.)

Required:

(***Carry all decimal places. Round final answers to 2 decimal places.)

(1) What is the price of Happy Holiday Touring Company shares today?

(2) What is the share price (estimated) at the end of the first year?

(3) What dividend yield, capital gains yield, and total yield, should an investor in this company expect for the first year?

As the price of good X rises from $10 to $12, the quantity demanded of good Y rises from 100 units to 114 units.

(a) Are X and Y substitutes or complements?

Using an appropriate example, define what substitute and complimentary goods are.

(b) What is the cross elasticity of demand?

• Define Cross Elasticity of demand.
• Using the correct formula (show it) calculate the correct answer using the numbers provided.