Question 1. Suppose you are working as a consultant for a firm that is a monopoly and is worried about its policies in the short run. What would you recommend in terms of quantity changes (raise, cut, shut down or stay put) and price changes (raise, cut, stay put) in each of the following situations a through c:

a. [5 points] P = $299 MC = $349 AVC = $249

b. [5 points] MR = $150 MC = $100 AVC = $140

c. [5 points] P = $288 MC = $288 AVC = $287

[Note: P = price; MR = marginal revenue; AVC = average variable cost; MC = marginal cost]

A flask holds 2.68 kg of a monatomic ideal gas (mass number 625). If the gas changes temperature isobarically (constant pressure) from 800o C to 410o C, find the total heat added to the gas, in kJ. A positive answer means heat is added; a negative answer means heat was removed.

A flask holds 7.46 kg of a diatomic ideal gas (mass number of the gas 937). If the gas changes temperature isobarically (at constant pressure) from 319o C to 996o C, find the total work done by the gas, in kJ. A positive answer means work is done by the gas, a negative answer means work is done on the gas.

You’re a quality control engineer for Norman’s fourth largest cracker factory, and you plan to implement some process changes if you conclude that the mean weight of a 32 ounce box of saltine crackers is less than 32 ounces. Based on a sample of 15 boxes, you found an average and standard deviation of cracker box weight of 31.6 ounces and 1.2 ounces, respectively.

a. Draw conclusions with the critical value approach at 99% confidence.

b. What is the probability that you conclude that no process changes are needed when the actual mean box weight is 31.7 ounces? Use the table in the textbook.

c. Redo part b, but instead use Excel.

Fill in the Blanks:

a.) The shape of the price-yield relationship for standard coupon bonds is referred to as a _________ (concave/convex) relationship. This relationship is not _________ (linear/nonlinear).

b.) Although the prices of standard coupon bonds move in the _________ (same/opposite) direction from the change in yield, the percentage price change _________ (is/is not) the same for all bonds.

c.) For very _________ (small/large) changes in the yield, the percentage price change for a given bond is roughly the same, whether the yield increases or decreases. For _________ (small/large) changes in the yield, the percentage price change is not the same for an increase in the required yield as it is for a decrease in the yield. For a given large change in yields, the percentage price increase is _________ (smaller/greater) than the percentage price decrease.

This question is for a Political Science course, please give in depth detail if you can. Thank you!

Not since 1992 (Ross Perot) has a third-party in American politics received more than 10% of the popular vote in a presidential election. In Congress, since 1950, there has only been a handful of members in both chambers who have identified with a political label other than Republican or Democrat. Why aren’t more third party candidates successful in their bids for these offices? Identify three changes that you would make to the American political process to break the two party stranglehold that is currently in place. Why would your changes make this happen?

How has the American economy changed over the past 20 years? Who benefits and who loses from this transition? What role has the U.S. government played in trying to smooth this transition for American workers? What additional measures do you think the government could implement to help workers? What can be done at the federal, state, and local levels? What changes have you seen in your schools and universities that reflect the changes that are taking place in the economy? What sorts of classes are offered today that would not have been a decade ago? What sorts of companies are hiring students today? Is this different from before? (15 points).

6. A friend sells you a AAA bond purchased in 1999 with a 10-year maturity at $ 1010.00. The bonus has a coupon rate of $ 80. The prevailing market rate is 7.0%. What is the value of the bond? Would you buy it if interest rates plan to drop?

a) I would buy it, total to pay $ 1009.35, if interest rates go down it favors

b) You would not buy it, total to pay $ 1080, changes in interest rates do not affect you

c) I would buy it, total to pay $ 1000, if interest rates go down it favors

d) I would not buy it, the offer is equal to the value of the Bond, changes in interest rates affect it

Describe the historical pattern of growth of the worldwide human population since our origin. Include in this historic overview the changes that have happened technologically, medically, culturally and nutritionally to result in major population changes over time. Relate the growth of the human population to our ecological footprint and explain the idea of limits to population growth known as the carrying capacity. Relative to carrying capacity, what may result from unbridled continued growth of our population? How does the size of the human population contribute to environmental degradation? Why must we take the human population size into account when we attempt to develop environmental restoration projects?