The perfectly competitive golfball industry consists of 100 golfball-producing firms with the short-run total cost function ST C=q2+ 20q+ 200−N, where q represents the number of pallets of golfballs produced per day and N represents the number of firms in the industry. Firm marginal cost function is M C= 2q+ 20.

- Find the long-run equilibrium price of a pallet of golfballs, the number of pallets produced by each firm in equilibrium, firm profit, and the market quantity of pallets bought and sold in equilibrium.

- Suppose that the price of golf clubs, a complementary good, decreases, causing a demand increase in the golfball market. Suppose 19 new firms enter the industry in the long run,and that the market subsequently returns to long-run equilibrium. Find the new long-run market equilibrium price and quantity, and the number of pallets produced by each firm. How much profit do firms earn?

The following data pertain to products A and B, both of which are purchased by Susan. A is on vertical axis and B is on horizontal axis. Initially, the prices of the products and quantities consumed are:
PA= $8, QA= 5, PB= $6, QB= 10.
Susan has $100 to spend per time period. After an increase in price of B, the prices and quantities consumed are:
PA= $8, QA= 4, PB = $9, QB= 7.5.
Assume that Susan maximizes utility under both price conditions above. Also, note that if after the price increase enough income were given back to Susan to put her back on the original indifference curve, she would consume this combination of A and B:
QA= 10,QB= 4
a. Determine the change in consumption rate of good B due to (1) the substitution effect and (2) the income effect.
b. Determine if product B is a normal, inferior, or Giffengood. Explain.

Create a Class with Data Fields and Methods in Java. Provide a Java coding solution for the following:

1. Name the class SalonServices

2. Add private data fields: a. salonServiceDescription – This field is a String type b. price - This field is a double type

3. Create two methods that will set the field values.

a. The first method setSalonServiceDescription() accepts a String parameter defined as service and assigns it to the salonServiceDescription. The method is not static

b. The second method setPrice() accepts a double parameter defined as salonPrice and assigns it to the price field. The method is not static

4. Create two methods that retrieve or get the field value.

a. The first method is getSalonServiceDescription()

b. The other method is getPrice()

Create an application to run objects of the class SalonService

This will be an interactive program. Hint: java.util import

1. Name the class CreateSalonServices

2. The main() method will contain two variables from the user input

a. String service

b. double price

3. Create an object for SalonServices and name it service1

4. Create an object for SalonServices and name it service2

5. Create an object that uses the built-in Java Scanner class

6. Prompt the user to enter a service. You will store the response in the variable service

a. User will enter “massage” as the service during the execution of the program

7. Prompt the user to enter a price. You will store the response in the variable price

a. User will enter 65.00 as the price during the execution of the program.

8. Write the statement that will send the user input for service to the setSalonServiceDescription() method for service1 object.

9. Write the statement that will send the user input for price to the setPrice() method for service1 object.

10. Type ______.nextLine() The ____ will be replaced with the name of your scanner object sc , input, etc.

11. User prompted for second service information. Prompt the user to enter a service. You will store the response in the variable service

a. User will enter “facial” as the service during the execution of the program

12. Prompt the user to enter a price. You will store the response in the variable price.

a. User will enter 45.00 as the price during the execution of the program.

13. Write the statement that will send the user input for service to the setSalonServiceDescription() method for service2 object.

14. Write the statement that will send the user input for price to the setPrice() method for service2 object

15. Display the details for service1 object on two lines:

a. Line 1 will contain the string literal: “Details for service one: “

b. Line 2 will contain the description and price information

16. Display the details for service2 object on two lines

a. Line 1 will contain the string literal: “Details for service two: “

b. Line 2 will contain the description and price information

Compile and Execute the program.

Often a firm will calculate the break-even point for a price. That is, if we set the price at $X, then how many units will we need to sell to cover costs (that is, our break-even point). Work through the following data and questions to gain a better understanding of this approach.

QUESTIONS

Start by completing the above table under the assumption that the product will be sold for $30. (It will be easiest to use Excel to complete the table.) How many units need to be sold to break-even at a product price of $30?

Now recalculate the table under the assumption that the product will be sold for $15. How many units need to be sold to break-even at a product price of $15?

What do you think you would set first: the sales target or the price? Why?

Exponential Functions

Computer viruses have cost U.S. companies billions of dollars in damages and lost revenues over the last few years. One factor that makes computer viruses so devastating is the rate at which they spread. A virus can potentially spread across the world in a matter of hours depending on its characteristics and whom it attacks.

Consider the growth of the following virus. A new virus has been created and is distributed to 100 computers in a company via a corporate email. From these workstations the virus continues to spread. Let  be the time of the first 100 infections, and at minutes the population of infected computers grows to 200. Assume the anti-virus companies are not able to identify the virus or slow its progress for 24 hours, allowing the virus to grow exponentially.

1. What will the population of the infected computers be after 1 hour?

2. What will the population be after 1 hour 30 minutes?

3. What will the population be after a full 24 hours?

Suppose another virus is developed and released on the same 100 computers. This virus grows according to, where  represents the number of hours from the time of introduction.

4. What is the doubling time for this virus?

5. How long will it take for the virus to infect 2000 computers, according to this model?

please help!

Mr. Hunter, CEO of MT Mining Company (MTMC), received a report from the engineering department. The report describes a proposed new mine on the North Ridge of MT. A gold mine had been discovered on the land owned by MTMC. The land is now leased to another company for $300,000 a year (opportunity cost). The lease is going to expire but can be renewed with the same condition. Tests indicated that this mine can produce 90,000 ounces gold for the first year and the production can increase 10 percent for the next four years then decreases 15 percent for next three years. The resources will be exhausted by the end of the eighth year.

MTMC is currently very conservatively financed. Mr. Hunter believes that MTMC can raise $60 million by issuing bond with 9 percent coupon interest rate. However, when the bond is issued, the market interest can fluctuate in the range of 7% to 11%.

The initial cost of the project includes the purchase of necessary machinery ($50 million), one-time environmental protection fee of $2.5 million, and designing fee of $6.5 million. The project needs $1 million as working capital.

The fixed operating cost of the mine is $850,000 per year. The mine needs to hire 20 engineers and managers, 200 workers at the beginning of the project. The average salary for engineers and managers is $40,000 for the first year and average wage for workers is $25,000 for the first year. Both salaries and wages will increase at a constant rate of 10%. The contracts signed with 10 of the engineers and managers are for four years. Starting from year 4, each year 20 workers will be transferred to other mines. The variable cost (excluding wages and salaries) for producing gold is $1.5 per ounce.

The machines will be depreciated by MACRS. According to MT Environment Protection Law, the mine must restore the site to its original environment condition. It is estimated that the cost of restoration will be $1.5 million. When the restoration is finished, the government will return $2 million of environmental fee.

The current price of gold is $300 per ounce. As for the gold price by the time when the project starts, there are three different opinions about the gold price in the future. Most people believe the price will remain the same as the present price. Optimists believe that the gold price will increase 10% while pessimists predict that gold price will further decline by 5%. MTMC is in the 35% tax bracket.

Now you are hired as CFO of MTMC. Mr. Hunter is asking you to make a project analysis and make a presentation to the board of directors within a week.

QUESTION: Should this project be accepted and why?

Mr. Hunter, CEO of MT Mining Company (MTMC), received a report from the engineering department. The report describes a proposed new mine on the North Ridge of MT. A gold mine had been discovered on the land owned by MTMC. The land is now leased to another company for $300,000 a year. The lease is going to expire but can be renewed with the same condition. Tests indicated that this mine can produce 90,000 ounces gold for the first year and the production can increase 10 percent for the next four years then decreases 15 percent for next three years. The resources will be exhausted by the end of the eighth year. MTMC is currently very conservatively financed. Mr. Hunter believes that MTMC can raise $60 million by issuing bond with 9 percent coupon interest rate. However, when the bond is issued, the market interest can fluctuate in the range of 7% to 11%. The initial cost of the project includes the purchase of necessary machinery ($50 million), one-time environmental protection fee of $2.5 million, and designing fee of $6.5 million. The project needs $1 million as working capital. The fixed operating cost of the mine is $850,000 per year. The mine needs to hire 20 engineers and managers, 200 workers at the beginning of the project. The average salary for engineers and managers is $40,000 for the first year and average wage for workers is $25,000 for the first year. Both salaries and wages will increase at a constant rate of 10%. The contracts signed with 10 of the engineers and managers are for four years. Starting from year 4, each year 20 workers will be transferred to other mines. The variable cost (excluding wages and salaries) for producing gold is $1.5 per ounce. The machines will be depreciated by MACRS. According to MT Environment Protection Law, the mine must restore the site to its original environment condition. It is estimated that the cost of restoration will be $1.5 million. When the restoration is finished, the government will return $2 million of environmental fee. The current price of gold is $300 per ounce. As for the gold price by the time when the project starts, there are three different opinions about the gold price in the future. Most people believe the price will remain the same as the present price. Optimists believe that the gold price will increase 10% while pessimists predict that gold price will further decline by 5%. MTMC is in the 35% tax bracket. Now you are hired as CFO of MTMC. Mr. Hunter is asking you to make a project analysis and make a presentation to the board of directors within a week.

Mercer Asbestos Removal Company removes potentially toxic asbestos insulation and related products from buildings. There has been a long-simmering dispute between the company’s estimator and the work supervisors. The on-site supervisors claim that the estimators do not adequately distinguish between routine work, such as removal of asbestos insulation around heating pipes in older homes, and nonroutine work, such as removing asbestos-contaminated ceiling plaster in industrial buildings. The on-site supervisors believe that nonroutine work is far more expensive than routine work and should bear higher customer charges. The estimator sums up his position in this way: “My job is to measure the area to be cleared of asbestos. As directed by top management, I simply multiply the square footage by $2.80 to determine the bid price. Since our average cost is only $2.585 per square foot, that leaves enough cushion to take care of the additional costs of nonroutine work that shows up. Besides, it is difficult to know what is routine or not routine until you actually start tearing things apart.”

To shed light on this controversy, the company initiated an activity-based costing study of all of its costs. Data from the activity-based costing system follow:

Required:

1. Perform the first-stage allocation of costs to the activity cost pools.

2. Compute the activity rates for the activity cost pools.

3. Using the activity rates you have computed, determine the total cost and the average cost per thousand square feet of each of the following jobs according to the activity-based costing system.

a. A routine 1,000-square-foot asbestos removal job.

b. A routine 2,000-square-foot asbestos removal job.

c. A nonroutine 2,000-square-foot asbestos removal job.

Complete this question by entering your answers in the tabs below.

• Req 1

Perform the first-stage allocation of costs to the activity cost pools.

Req 2

Compute the activity rates for the activity cost pools.

Req 3A to 3C

Using the activity rates you have computed, determine the total cost and the average cost per thousand square feet of each of the following jobs according to the activity-based costing system. (Round the "Average Cost per thousand square feet" to 2 decimal places.)

a. A routine 1,000-square-foot asbestos removal job.
b. A routine 2,000-square-foot asbestos removal job.
c. A nonroutine 2,000-square-foot asbestos removal job.

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6. Combine the following sentences using a noun clause:

    Why would the pilot suddenly resign? I do not know the reason.

7. Combine the following sentences using a subordinate clause that expresses condition:
Taxi drivers will mount protests in a month. This is because the government is likely to insist on introducing premium taxi services through franchises.

8. Rewrite the following sentence using the word ‘despite’:

Although Edward had already completed his doctoral studies, he failed to secure an academic position.

9. Combine the following sentences using a relative clause with the relative pronoun ‘whom’:
Barack Obama is a Nobel Prize winner. I have great respect for him.

10. Combine the following sentences into a single sentence using two defining relative clauses:
Tim sold his car to a woman. The woman’s husband had a job. The job required a car.

Using the simplified method, determine the tax-free amount of the following distributions from a qualified pension plan. Contributions, if any, are made with previously-taxed dollars. Use monthly payments table. (Round your answers to 2 decimal places.) Person A, age 59, made no contributions to the pension plan and will receive a $500 monthly check for life. Person B, age 66, made contributions of $23,000 to the pension plan and will receive a monthly check of $1,300 for life. Person C, age 64, made contributions of $19,000 to the pension plan and will receive monthly payments of $1,200 over her life and the life of her 67-year-old husband. Person D, age 55, made contributions of $32,000 to the pension plan. He will receive quarterly payments of $5,000 over his life and the life of his 58-year-old wife.