The following information describes the requirements for your response: It must be at least three paragraphs long (more is usually better), grammatically correct, and demonstrate that you understand and can apply the concepts covered in the second competency module. When writing your response, follow the steps listed below in the order that they appear.

Step One: Begin by describing the process for calculating price elasticity of demand. Then, using fictitious numbers, calculate the price elasticity of demand for donuts at different prices. Remember that you are using your own prices and quantity demanded at each price.

Step Two: Next, identify a product that has a perfectly elastic price elasticity of demand (changes in price cause demand to fall to zero) and explain why, and then identify a product that has perfectly inelastic price elasticity of demand (price changes don’t affect demand) and explain why.

Step Three: Next, describe the factors that influence the price elasticity of demand for a product. Once you have done this, classify each of the following products as elastic, inelastic, or unitary elastic and explain why.

a) Athletic shoes.

b) Medicine for Diabetes.

c) Fast food.

d) College education at Harvard.

e) Pens

f) Houses in McAllen

1. Which of these transactions requires a debit entry to Cash?

a. collected balance due from customers

b. paid balance due to suppliers

c. sold merchandise on account

d. purchased supplies for cash

2. What is the impact on the accounting equation when a payment of account payable is made?

a. both sides decrease

b. both sides increase

c. only the Asset side changes

d.neither side changes

3. That a business may only report activities on financial statements that are specifically related to company operations, not those activities that affect the owner personally, is known as which of the following?

a. separate entity concept

b. monetary measurement concept

c. going concern assumption

d. time period assumption

4. Which set of accounts has the same type of normal balance?

a. Accounts payable, retained earnings

b. Cash, accounts payable

c. Prepaid rent, unearned service revenue

d. Dividends, common stock

5. The step-by-step process to record business activities and events to keep financial records up to date is ________.

a. accounting cycle

b. day-to-day cycle

c. general ledger

d. journal

A rapidly-growing fast-casual restaurant serving a regional market in the Ohio and Indiana markets was concerned about meeting demand for its burritos and burrito bowls during peak lunch hours. Therefore, the firm added a series of workers in a pilot test in their busiest shop in western Ohio. The shop added more and more workers trying to find their most efficient production point given additional workers. The following table depicts their production capabilities between their critical hours of 11:00 a.m. and 2:00 p.m. Note there have been no changes to the equipment or to the physical plant of the shop; only the number workers has changed.

Graph the performance of the workers using Excel; connect the points on the graph with a line or curve.

What principle of economics has the firm encountered in its pilot test of adding workers attempting to meet peak lunch demand?

Will this principle have any effect on the costs of the firm at some point? Please explain the relationship between costs and production changes displayed in the graph.

Variables typically included in a multivariate supply function (other than the price and quantity of the item the supply function represents) are prices of other goods that use similar input resources for production, the number of suppliers, techniques of production, taxes and subsidies, prices of input resources, weather, and expectations. Please answer the following questions about the affect changes in other variables might have on the supply of the item. These changes will either cause supply to increase (shift right) or decrease (shift left). Use either word as applicable, for the short answer.

1. If the market price of gasoline returns to the near $4.00 per gallon level then demand for gas-gulping large autos is likely to decrease and manufacturers of these autos are likely to _____________ their supply:

2. A relative increase in the productivity of the technology used to produce the item being considered is likely to _____________________ its supply.

3. Hailstorms have pelted south central Texas grape vineyards, spoiling acres of grapes. This is likely to ______________ the supply of grapes for Texas wine.

4. A manufacturer, operating with a fixed production budget, discovers that the cost of input resources is increasing. The manufacturer is likely to ___________________ the quantity of the product produced.

5. The six-spotted evil weevil has attacked California’s broccoli crops. Their supply of broccoli is thus likely to:

The demand curve for labor:

A) slopes downward.

B) is based on the marginal revenue product of labor.

C) shows the amount of labor that will be demanded at any given wage.

D) all of the above.

Which of the following factors, in addition to income, might be considered by an individual deciding to enter a labor market?

A) Location.

B) Long-term gains.

C) Psychological rewards.

D) All of the above.

A decrease in the equilibrium wage rate and equilibrium quantity of workers in a labor market would be caused by:

A) a decrease in labor supply.

B) an increase in labor supply.

C) a decrease in labor demand.

D) an increase in labor demand.

The basic supply and demand model predicts that a decrease in labor demand will shift the demand curve to the:

A) left and reduce wages.

B) left and increase wages.

C) right and reduce wages.

D) right and increase wages.

If labor supply decreases and labor demand increases, we should expect that:

A) wages will increase.

B) wages will decrease.

C) employment will increase.

D) employment will decrease.

Which of the following would NOT cause a supply curve of labor to shift?

A) Demographic trends.

B) Changes in the wage rate.

C) Cyclical changes in economic conditions.

D) Changing expectations of future job prospects.

We are evaluating a project that costs $660,000, has a five-year life, and has no salvage value. Assume that depreciation is straight-line to zero over the life of the project. Sales are projected at 69,000 units per year. Price per unit is $58, variable cost per unit is $38, and fixed costs are $660,000 per year. The tax rate is 35 percent, and we require a 12 percent return on this project.

a. Calculate the accounting break-even point. (Do not round intermediate calculations and round your final answer to nearest whole number. (e.g., 32))

Break-even point = 39600 units

b-1 Calculate the base-case cash flow and NPV. (Do not round intermediate calculations and round your NPV answers to 2 decimal places. (e.g., 32.16))

Cash flow = $ 514200

NPV = $ 1193578

b-2 What is the sensitivity of NPV to changes in the sales figure? (Do not round intermediate calculations and round your final answer to 3 decimal places. (e.g., 32.161)) ΔNPV/ΔQ $

??

c. What is the sensitivity of OCF to changes in the variable cost figure? (Do not round intermediate calculations and Negative amount should be indicated by a minus sign.) ΔOCF/ΔVC $

??

Direction: A small data set is given below. You will run a t-test using Excel. You must provide Excel output to get full credit for this question. A medical researcher wants to determine whether a drug changes the body’s temperature. Seven test subjects are randomly selected, and the body temperature (in degrees Fahrenheit) of each is measured. The subjects are then given the drug and after 20 minutes, the body temperature of each is measured again. The results are listed below. Use significance level α = 0.05, and we assume that the body temperatures are normally distributed.

Subject 1 2 3 4 5 6 7

Initial Temperature 101.8 98.5 98.1 99.4 98.9 100.2 97.9

Second Temperature 99.2 98.4 98.2 99.0 98.6 99.7 97.8

Provide results for the following questions: 1. Which t-test you used? 2. Degrees of freedom? 3. t-statistic of the test? 4. One or two tailed hypothesis testing used? 5. p value? 6. Do you reject or fail to reject the null hypothesis? 7. At α = 0.05, is there enough evidence to conclude that the drug changes the body’s temperature? (you will make an inference about results)

1. Assumed the betas for securities A, B, and C are shown here. Security Beta A 1.39 B .75 C -.93

A.

Calculate the change in return for each security if the market experiences an increase in its rate of return of 13.7% over the next period

B.

Calculate the change in return for each security if the market experiences a decrease in its rate of return of 10.3% over the next period

C.  ​(Select he best choice​ below.)

A.

During an economic​ downturn, it can probably be assumed that the market return would decrease. If this​ occurred, security C would perform best.​ Otherwise, security B would be best since it would be least responsive to a change in the market return.

B.

Security A is the most risky. It has the highest relevant​ risk, as determined by the beta values and the greater changes in security​ A's return for a given change in the market return.

C.

Security B is the least risky since its return is least responsive​ (regardless of​ direction) to changes in the market return.

D.

Security C could be called defensive since it moves in the opposite direction from the market​ (its return increased when the market return fell and vice​ versa).

E.

All the above statements are correct.

Ruta is a 36 years old female with a weight of 60kg. She was admitted to the hospital on 15/04/2020. She was just getting home from her gardening and she just felt uneasy to breathe. She has been noticing for a while that she is having trouble in breathing and her chest tightens. She is also having coughing with mucus. She said because of shortness of breath (SOB), sometimes she is not able to speak in full sentence. She also stays awake occasionally in the night because of SOB and wheezing. Her past medical histories were hypercholesterolemia and asthma. She has no known drug and food allergy. She is working occasionally now and is living alone. She is a smoker and drinks occasionally. She has no known family history. The Emergency Department (ED) doctor has diagnosed her with Exacerbation of Asthma.

She is on salbutamol 200mcg as required.

Question

1. Two major pathological changes that occur in the lungs during an asthma attack are: • Bronchial smooth muscle contraction • Increased mucus production Explain how these pathological changes arise in your person/client (ie. the pathophysiology).

Hint: your answer should include discussion of the immune cell mediated response.

5. Find the present value of the following ordinary annuities. (Notes: If you are using a financial calculator, you can enter the known values and then press the appropriate key to find the unknown variable. Then, without clearing the TVM register, you can "override" the variable that changes by simply entering a new value for it and then pressing the key for the unknown variable to obtain the second answer. This procedure can be used in many situations, to see how changes in input variables affect the output variable. Also, note that you can leave values in the TVM register, switch to Begin Mode, press PV, and find the PV of the annuity due.) Do not round intermediate calculations. Round your answers to the nearest cent.

   a   $200 per year for 10 years at 14%.

   b   $100 per year for 5 years at 7%.

   c   $200 per year for 5 years at 0%.

   d   Now rework parts a, b, and c assuming that payments are made at the beginning of each year; that is, they are annuities due.
Present value of $200 per year for 10 years at 14%: $   
Present value of $100 per year for 5 years at 7%: $   
Present value of $200 per year for 5 years at 0%: $