Show and explain how you can use information about revenue and costs to find the point of maximum profit for a firm in a perfectly competitive market?

You are the manager of a theater. At present, the theater charges the same admission price of $8 to all customers, regardless of age. You propose a two-tier pricing scheme: $5 for children under the age of 12 and $10 for adults. You tell your supervisor that your proposal is likely to increase revenue. "What must be true about the price elasticity of demand if your proposal is to achieve its goal of raising revenue?

1) Explain the concepts of cross-price elastic of demand, using one of the examples in the table above. What does a positive or negative value indicate? When doing elasticity of demand what is the sign always for a normal good?

2)Explain the concepts of income elasticity using one of the items in the table above. What does a positive value indicate? What about a negative value indicate?

3) When the price of Bob’s Coffee House increased by 8 percent, the quantity demanded of Alex’s Coffee House increased by 10 percent. What would be the cross- price elastic of demand between Bob’s & Alex’s coffee? What is the relationship between these two goods (are they compliments?)

4) Suppose the current price of oil is $90 a barrel and the quantity supplied is 800 million barrels per day. If the price elasticity of supply for oil in the short run is estimated at 0.5, use the midpoint formula to calculate the percentage change in quantity supplied when the price of oil rises to $98 a barrel.

Read section B through E before starting the assignment. Fill in the information below related to the racial/ethnic group for the module.

Race: Black/ AfricanAmericans

Section A - Race and Ethnicity

Race:  

Ethnic Groups:

Section B - Immigration

1. List the name of countries or country where this ethnic group originated from?
2. Briefly describe the cultural environment of their native homeland.
3. Was this ethnic group / race a native to North America.
4. If not, why and when did this ethnic group /race of people originally immigrate to the United States?
5. Were they voluntary or involuntary immigrants? How did they travel to U.S? Were they colonized?
6. What are the major periods of immigration for this ethnic?
7. Is there a difference in the new and old immigrants in terms of their willingness to blend into American culture or are they loyal to their customs, traditions, values, and norms of their homeland?    

Section C - Demographics

1. What percentage of this ethnic group / race makes up the U.S. population?
2. Where does the majority of this population live in the U.S.?
3. What are their educational levels, including rate of high school completion?
4. What is their family media income? What types of jobs, skills, or occupations are predominating for this ethnic group / race?
5. What is the marriage and divorce rate?
6. What are the primary causes of death, health care issues and concerns; and infant mortality rates for this ethnic group?

Section D - Culture and Religion

1. What is the religious profile of this ethnic group/race, if any?
2. What is/are the primary language(s) of this ethnic group / race?
3. What are some of the cultural traits, customs, inventions, and/or traditions that this ethnic group / race contributed to the mainstream American society?

Section E - Stereotypes, Media, Prejudice, & Discrimination

1. If any, what types of discrimination and prejudice did/does this ethnic group / race encounter in America?
2. What are some of the stereotypes and racial profiles portrayed about this ethnic group / race in America’s mass media?
3. What are the current political and/or social issues that this ethnic group / race face currently?
4. List 3 famous people in this ethnic group / race with a very brief biography (2-3 sentences describing their contribution to society).

Read section B through E before starting the assignment. Fill in the information below related to the racial/ethnic group for the module.

Race: Jewish Americans

Section A - Race and Ethnicity

Race:  

Ethnic Groups:

Section B - Immigration

1. List the name of countries or country where this ethnic group originated from?
2. Briefly describe the cultural environment of their native homeland.
3. Was this ethnic group / race a native to North America.
4. If not, why and when did this ethnic group /race of people originally immigrate to the United States?
5. Were they voluntary or involuntary immigrants? How did they travel to U.S? Were they colonized?
6. What are the major periods of immigration for this ethnic?
7. Is there a difference in the new and old immigrants in terms of their willingness to blend into American culture or are they loyal to their customs, traditions, values, and norms of their homeland?    

Section C - Demographics

1. What percentage of this ethnic group / race makes up the U.S. population?
2. Where does the majority of this population live in the U.S.?
3. What are their educational levels, including rate of high school completion?
4. What is their family media income? What types of jobs, skills, or occupations are predominating for this ethnic group / race?
5. What is the marriage and divorce rate?
6. What are the primary causes of death, health care issues and concerns; and infant mortality rates for this ethnic group?

Section D - Culture and Religion

1. What is the religious profile of this ethnic group/race, if any?
2. What is/are the primary language(s) of this ethnic group / race?
3. What are some of the cultural traits, customs, inventions, and/or traditions that this ethnic group / race contributed to the mainstream American society?

Section E - Stereotypes, Media, Prejudice, & Discrimination

1. If any, what types of discrimination and prejudice did/does this ethnic group / race encounter in America?
2. What are some of the stereotypes and racial profiles portrayed about this ethnic group / race in America’s mass media?
3. What are the current political and/or social issues that this ethnic group / race face currently?
4. List 3 famous people in this ethnic group / race with a very brief biography (2-3 sentences describing their contribution to society).

we discuss differential analysis; choosing one course of action over another. Should we outsource (make or buy) our parts, sell or lease an asset that is no longer of use to the company, discontinue a segment of business, or retire an asset.

Identify decisions from your personal experiences that fit under one of the differential analysis categories. In order to earn the full points, please first identify the category, then describe in detail the costs (or revenues depending on your analysis) associated with your analysis and what decision you made based off of the nominal data and perhaps a sensitivity analysis. For full points, you must include cost information relating to your final decision.

1. What are some examples of ways that humans "can change the way we cope [with stress], both physiologically and psychologically"?
2. Explain how control and predictability impacted health in the nursing home study described by Sapolsky. What happened to their health after the study concluded?
3. Explain why exercise is a good stress management technique for many people.
4. Explain how social support can help someone manage stress or be detrimental to someone's attempt at managing stress.
5. Read Sapolsky's "A Summing Up" section. Do you agree or disagree with his summary? Explain.

3. Explain the difference between positive and normative economics. Then, go online and find one economic fact. State the fact positively and then state each one of them normatively.

4. Now, go surfing on the internet. Find 2 new sites that contain economic data. List their URL’s and a brief description of the data they contain. In your surfing, list two macroeconomic facts you have discovered and where. Then, list two microeconomic facts you have discovered and where. How do you know each of the facts you have discovered illustrate Macroeconomics? Microeconomics? Explain.

5. What is economic/scientific methodology? Why is it important? Explain how we would follow this methodology for the study of unemployment in the USA? (What steps would we go through, what would we look for and why? Be specific).

6. What is ceteris paribus? Why are we concerned with it? Is Economics the only field that deals with ceteris paribus?

3. Explain the difference between positive and normative economics. Then, go online and find one economic fact. State the fact positively and then state each one of them normatively.

4. Now, go surfing on the internet. Find 2 new sites that contain economic data. List their URL’s and a brief description of the data they contain. In your surfing, list two macroeconomic facts you have discovered and where. Then, list two microeconomic facts you have discovered and where. How do you know each of the facts you have discovered illustrate Macroeconomics? Microeconomics? Explain.

5. What is economic/scientific methodology? Why is it important? Explain how we would follow this methodology for the study of unemployment in the USA? (What steps would we go through, what would we look for and why? Be specific).

6. What is ceteris paribus? Why are we concerned with it? Is Economics the only field that deals with ceteris paribus?

3. Assuming that the tax rate is 20%, answer the questions below.

2018 2019
Sales 4,200 4,800
Cost of Goods Sold 2,000 2,500
Interest 400 500
Dividends 200 300
Depreciation 300 400
Cash 250 300
Account Receivables 300 400
Account Payables 900 1,000
Inventory 1,000 1,500
Long-term Debt 3,300 4,000
Net Fixed Assets 6,000 6,500

(1) (5 points) What is the firm’s cash flow from assets for 2019?
(2) (3 points) What is the value of cash flow to bondholders for 2019?
(3) (5 points) What is the value of cash flow to stockholders for 2019?
You are NOT allowed to use the cash flow identity for this problem.

Could you explain in detail with formula