Explain how the hypothesis below came up/was developed based on the initial observations (see below).
Hypothesis: The recombinant-based assay for HCV will detect HCV antibodies in blood samples of people with hepatitis C or who are carriers of HCV, but not in non-HCV individuals.
Initial Observations:
I. Hepatitis is a general category of liver diseases. Several different viral agents have been found to infect the liver and cause inflammation and damage.
II. In the 1940s, researchers identified two forms of viral hepatitis. Infectious hepatitis, or hepatitis A, is transmitted by contact with feces from infected individuals. Serum hepatitis, or hepatitis B, is transmitted through the blood and other body fluids. The hepatitis B virus was isolated in the 1960s and the hepatitis A virus was isolated in the 1970s.
III. Following the isolation of these two viruses, assays were developed in order to identify individuals infected with hepatitis A or hepatitis B viruses.
IV. A form of hepatitis occurs in patients that test negative for hepatitis A or B. This form of hepatitis, initially called non-A, non-B hepatitis (NANBH) but now referred to as hepatitis C, represented greater than 90% of transfusion-associated hepatitis.
V. Hepatitis C causes chronic disease which can lead to cirrhosis of the liver and liver cancer.
VI. A recombinant-based assay for the hepatitis C virus (HCV) has been developed, using RNA isolated from the hepatitis C virus.
In: Anatomy and Physiology
In: Economics
In: Economics
Short-run cost formulas
Douglas Fur is a small manufacturer of fake-fur boots in Detroit. The following table shows the company's total cost of production at various production quantities.
Fill in the remaining cells of the table.
Total Product | Total Cost | Marginal Cost | Total Fixed Cost | Total Variable Cost | Average Variable Cost | Average Total Cost |
|---|---|---|---|---|---|---|
(Pairs) | (Dollars) | (Dollars) | (Dollars) | (Dollars) | (Dollars per pair) | (Dollars per pair) |
| 0 | 120 | — | — | |||
| 1 | 210 | |||||
| 2 | 270 | |||||
| 3 | 315 | |||||
| 4 | 380 | |||||
| 5 | 475 | |||||
| 6 | 630 | |||||
On the following graph, plot Douglas Fur’s average total cost curve (ATCATC) using the green points (triangle symbol). Next, plot its average variable cost curve (AVCAVC) using the purple points (diamond symbol). Finally, plot its marginal cost curve (MCMC) using the orange points (square symbol). (Hint: For ATCATC and AVCAVC, plot the points on the integer: For example, the average total cost of producing one pair of boots is $210, so you should start your average total cost curve by placing a green point at (1, 210). For marginal cost, plot the points between the integers: For example, the marginal cost of increasing production from zero to one pair of boots is $90, so you should start your marginal cost curve by placing an orange square at (0.5, 90).)
In: Economics
In the short run, a perfectly competitive firm will shut down and produce nothing if:
|
a. |
economic profits equal zero. |
|
b. |
total cost exceeds total revenue. |
|
c. |
total variable cost exceeds total revenue. |
|
d. |
the market price falls below the minimum average total cost. |
In: Economics
1, The cost of making 14 tables is $2,000. The cost of making 22 tables is $2,640. What is the cost per table?
Write a linear equation that tells you the total cost, C , of making x tables: C =
What is the total cost of making 17 tables? $
2, The cost of making 14 chairs is $1,090. The cost of making 26 chairs is $1,570.
What is the cost per chair?
Write a linear equation that tells you the total cost, C , of making x chairs: C =
If your total cost is $2,610, how many chairs did you make?
3,
In: Accounting
1.
If diminishing returns exist, then
Each unit produced will cost incrementally more.
Each unit produced will cost incrementally less.
The total cost curve will be negatively sloped.
The total cost curve will be flat.
2.
For the perfectly competitive firm, the marginal revenue is always
Decreasing.
Constant.
Increasing.
Equal to average total cost.
3.
Greater-than-normal profit represents
Below-average returns to capital.
Exploitation of workers.
Payment for entrepreneurship.
Explicit costs.
4.
A perfectly competitive firm will maximize profits by choosing an output level where
Price equals total cost.
Price equals marginal cost.
Price is greater than marginal cost.
Price is greater than total cost.
In: Economics
Suppose the fixed costs at a widget factory are $500.00 and variable costs per widget are as indicated. Compute the total average costs for each of the following: 1. Producing 10 widgets when the variable cost is $10 per widget Total Cost = $ _________ Average Cost = $ _________ 2. Producing 20 widgets when the variable cost is $15 per widget Total Cost = $ _________ Average Cost = $ _________ 3. Producing 100 widgets when the variable cost is $20 per widget Total Cost = $ _________ Average Cost = $ _________ b. Suppose that widgets sell for a price of $50. Compute total revenue (TR) and profit (P) for each of the above cases. 1. TR = $ _______ P = $ _______ 2. TR = $ _______ P = $ _______ 3. TR = $ _______ P = $ _______
In: Economics
10.
The following partially completed process cost summary describes
the July production activities of the Molding department at Ashad
Company. Its production output is sent to the next department. All
direct materials are added to products when processing begins.
Beginning work in process inventory is 20% complete with respect to
conversion.
| Equivalent Units of Production | Direct Materials | Conversion | ||||
| Units transferred out | 41,500 | EUP | 41,500 | EUP | ||
| Units of ending work in process | 3,500 | EUP | 2,100 | EUP | ||
| Equivalent units of production | 45,000 | EUP | 43,600 | EUP | ||
| Costs per EUP | Direct Materials | Conversion | ||||||
| Costs of beginning work in process | $ | 32,700 | $ | 4,200 | ||||
| Costs incurred this period | 520,800 | 301,000 | ||||||
| Total costs | $ | 553,500 | $ | 305,200 | ||||
| Units in beginning work in process (all completed during July) | 3,000 |
| Units started this period | 42,000 |
| Units completed and transferred out | 41,500 |
| Units in ending work in process | 3,500 |
Prepare its process cost summary using the FIFO method. (Round "Cost per EUP" to 2 decimal places.)
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In: Accounting
The market for hotels in Sacramento is described by the following equations: Qd=80−P and Qs=2P−100
(a) What is the equilibrium price and quantity?
(b) Suppose the city places a $2 tax on hotel rooms. How much do consumers now pay? How much do producers receive? How much tax revenue is raised by the tax?
(c) Based on your answer to part (b) is supply or demand more elastic?
In: Economics