Hello , I cannot find the answer for this questions : Problem 3. (Signaling game: market for used cars) Consider the market for used cars and assume that the cars can be of one of two possible quality levels: low (the ’lemons’) and high (the ’plums’). The seller knows the true quality of the car (the seller’s type is given by the quality level) but the buyers only know the probability distribution of the cars in the market. Assume that the buyer’s initial (prior) beliefs are as follows: probability p for a car being of high quality, and probability (1 − p) for a car being of low quality. If the seller sells his car, then his payoff is equal to the price paid by the buyer. If the seller does not sell the car, his payoff will be equal to his valuation of the used car: $10000 if it is of high quality and $6000 if it is of low quality. The buyer’s valuation of cars with high quality is $12000, and his valuation of low-quality cars is $7000. However, he only learns the true quality after the purchase. If the buyer purchases a car, then his payoff is given by the difference between his true valuation and the price he pays. If he does not buy a car, his payoff is zero. (a) First, consider a market with complete information for both sides of the market. Explain why, given the buyers’ and sellers’ valuations, all cars will be sold. Is this outcome Pareto-optimal? (b) Now consider the market with incomplete information as described above. What would be a seller’s pooling strategy (to offer all the cars at the same price)? If sellers follow this pooling strategy, what would be their best response (strategy and beliefs) given their prior belief p? Given this best response of the buyers, is it optimal for the seller to follow the pooling strategy given p? (c) Find values for prior belief p such that there is a perfect Bayesian Nash equilibrium with pooling. Is this outcome Pareto-optimal, i.e. are all those cars sold that would be sold with complete information?
Thank you , Dania
In: Economics
What are the differences between the Market Demand and Market Marginal Revenue curves and a Single Firms Demand Curve and Marginal Revue Curve? What causes these differences? What is the Quantity the firm can sell?
In: Economics
In: Finance
If you lease a $57,000 car with a $700 per month payment and its projected residual value is $37,000 at the end of the three year leasing period, what is the implied interest rate?
In: Finance
how are the classes and stages of benchmarking supportive to efficiencies in product costing and Utilizing the Kaizan costing system
In: Accounting
Please show all work so that i can get a better understanding
A.) Estimate ΔG°rxn for the following reaction at
449.0 K.
CH2O(g) + 2 H2(g) → CH4(g) +
H2O(g) ΔH°= -94.9 kJ; ΔS°= -224.2 J/K
| a. | +12.9 kJ |
| b. | -4.2 kJ |
| c. | +5.8 kJ |
| d. | -101 kJ |
| e. | +2.4 kJ |
B.) Which of the following statements is TRUE?
| a. | Endothermic processes decrease the entropy of the surroundings, at constant T and P. |
| b. | Exothermic processes are always spontaneous. |
| c. | Endothermic processes are never spontaneous. |
| d. | Entropy is not a state function. |
| e. | None of the above are true. |
C.) Calculate ΔGrxn at 298 K under the conditions
shown below for the following reaction.
2 Hg(g) + O2(g) → 2 HgO(s) ΔG° = -180.8 kJ
P(Hg) = 0.025 atm, P(O2) = 0.037 atm
| a. | -154.4 kJ |
| b. | -164 kJ |
| c. | +207 kJ |
| d. | -26.5 kJ |
| e. | +60.7 kJ |
D.)Above what temperature does the following reaction become
nonspontaneous?
FeO(s) + CO(g) → CO2(g) + Fe(s) ΔH= -11.0 kJ;
ΔS = -17.4 J/K
| a. | 298 K |
| b. | 191 K |
| c. | 632 K |
| d. | This reaction is nonspontaneous at all temperatures. |
| e. | This reaction is spontaneous at all temperatures. |
In: Chemistry
A football receiver running straight downfield at 5.20 m/s is 10.5 m in front of the quarterback when a pass is thrown downfield at 23.0° above the horizon (see the figure below).
If the receiver never changes speed and the ball is caught at the same height from which it was thrown, find the football's initial speed, the amount of time the football spends in the air, and the distance between the quarterback and the receiver when the catch is made.
(a) the football's initial speed (in m/s)
___________ m/s
(b) the amount of time the football spends in the air (in s)
________________ s
(c) the distance between the quarterback and the receiver when the catch is made (in m)
_____________m
In: Physics
Scenario
Cartech Manufacturing is engaged in the production of replacement parts for automobiles. One plant specializes in the production of two parts: Part 271 and Part 342. Part 271 produces the highest volume of activity, and for many years it was the only part produced by the plant. Five years ago, Part 342 was added. Part 342 was more difficult to manufacture and required special tooling and setups. Profits increased for the first three years after the addition of the new product. In the past two years, however, the plant has faced intense competition, and its sales of Part 271 have dropped. In fact, the plant showed a small loss in the most recent reporting period. Much of the competition was from foreign sources, and the plant manager was convinced that the foreign producers were guilty of selling the part below the cost of producing it. The following conversation between Tricia Goodson, plant manager, and Jackson Fielding divisional marketing manager, reflects the concerns of the division about the future of the plant and its products.
Jackson: You know, Tricia, the divisional manager is really concerned about the plant’s trend. He indicated that in this budgetary environment, we can’t afford to carry plants that don’t show a profit. We shut one down just last month because it couldn’t handle the competition.
Tricia: Joe, you and I both know that Part 271 has a reputation for quality and value. It has been a mainstay for years. I don’t understand what’s happening.
Jackson: I just received a call from one of our major customers concerning Part 271. He said that a sales representative from another firm offered the part at $20 per unit-- $11 less than what we charge. It’s hard to compete with a price like that. Perhaps the plant is simply obsolete.
Tricia: No. I don’t buy that. From my sources, I know we have good technology. We are efficient. And it’s costing a little more than $21 to produce that part. I don’t see how these companies can afford to sell it so cheaply. I’m not convinced that we should meet the price. Perhaps a better strategy is to emphasize producing and selling more of Part 342. Our margin is high on this product, and we have virtually no competition for it.
Jackson: You may be right. I think we can increase the price significantly and not lose business. I called a few customers to see how they would react to a 25 percent increase in price, and they all said that they would still purchase the same quantity as before.
Tricia: It sounds promising. However, before we make a major commitment to Part 342, I think we had better explore other possible explanations. I want to know how our production costs compare with those of our competitors. Perhaps we could be more efficient and find a way to earn our normal return on Part 271. The market is so much bigger for this part. I’m not sure we can survive with only Part 342. Besides, my production people hate that part. It’s very difficult to produce.
After her meeting with Jackson, Tricia requested an investigation of the production costs and comparative efficiency. She received approval to hire Wake Consulting Group to make an independent investigation.
You, as the staff accountant for Wake Consulting Group, have uncovered the following costs and activities associated with the two products.
|
Part 271 |
Part 342 |
|
|
Production |
500,000 |
100,000 |
|
Selling Price |
$31.86 |
$24.00 |
|
Prime costs per unit |
$9.53 |
$8.26 |
|
Number of production runs |
100 |
200 |
|
Receiving orders |
400 |
1,000 |
|
Machine hours |
125,000 |
60,000 |
|
Direct labor hours |
250,000 |
22,500 |
|
Engineering hours |
5,000 |
5,000 |
|
Material moves |
500 |
400 |
Overhead is allocated using a plant-wide rage based on direct labor hours.
Preliminary analysis of costs by Wake Consulting Group revealed that similar costs can be categorized into the following cost pools. Setup costs are costs that occur each time a new production run is made. They involve retooling and reconfiguring the machines and technology. Material handling costs include the equipment and personnel required to transport materials from supplier trucks to the machines. Typically, materials are taken to a storage area before being transported to machines. Each production run will need new materials and materials may also be transported during production runs. Machine costs primarily include depreciation and machine maintenance. Although the machines are depreciated using accelerated depreciation schedules, typically the machine wear out from use and are replaced before they become obsolete. Receiving costs include the costs of clerical and technical help associated with the processing of each order received from a customer. Engineering costs include the technical support staff that implement design changes in the part, manage processes to maintain quality, and provide technical information on the product. The engineering staff maintain a record of the amount of time spent on each product. General plant costs include all the other administrative costs not included in the other cost pools.
|
Overhead Cost Pools |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Setup costs |
$240,000 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Material handling costs |
$900,000 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Machine costs |
$1,750,000 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Receiving costs |
$2,100,000 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Engineering costs |
$1,500,000 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
General plant costs |
$500,000 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
TOTAL : $6,990,000
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In: Accounting
1. explain the difference between heat of neutralization and
enthalpy of neutralization.
2. You mix 50.0 mL of a weak monoprotic acid with 50.0 mL of NaOH solution in a coffee cup calorimeter. Both solutions (and the calorimeter) were initially at 22.0OC. The final temperature of the neutralization reaction was determined to be 22.5OC.
a)What is the total amount of heat evolved in this reaction? Show all work. (3 points)
b) If 0.135 moles of the monoprotic acid were neutralized in this reaction, what is the molar heat of neutralization (enthalpy) for this reaction? (3 points)
3. Imagine you are at a local water park on a hot summer day and your feet begin to get hot from the cement.Looking ahead, you notice that there are two paths you can take to your favorite waterslide. One path is comprised of sand while the other path consists of water.You opt for the water path because you know it will be cooler on your feet.Assuming that both paths were exposed to the same heatsource (the sun) and that both paths have the same mass, explain why water does not get as hot as sand.
In: Chemistry
#32 Calculate the pH at the equivalent point for the titration of 0.10M NH3 by 0.10M perchloric acid. (For NH3, pKb=4.74, hint: consider the change in volume before and after reaction)
In: Chemistry
A beam of electrons is shot into a uniform downward electric field of magnitude 1.11x10^3 N/C. The electrons have an initial velocity of 1.02x10^7 m/s, directed horizontally. The field acts over a small region, 5.00 cm in the horizontal direction.
(a)Find the magnitude and direction of the electric force
exerted on each electron.
-magnitude:
-direction:
(b) How does the gravitational force on an electron compare with the electric force?
-The gravitational force is much smaller than the electric force. OR -The gravitational force is much larger than the electric force.
(c) How far has each electron moved in the vertical direction by the time it has emerged from the field?
(d) What is the electron's vertical component of velocity as it emerges from the field? (Up is the positive y-direction.)
(e) The electrons move an additional 19.8 cm after leaving the
field. Find the total vertical distance that they have been
deflected by the field.
In: Physics
You mix a 116.5 mL sample of a solution that is 0.0127 M in NiCl2 with a 174.5 mL sample of a solution that is 0.220 M in NH3. After the solution reaches equilibrium, what concentration of Ni2+(aq) remains? (Formation constant is Kf=2.0×108.) Express your answer with the appropriate units.
In: Chemistry
Given the inverse demand function of monopoly is: ?(?) = ??? − ?
the cost
? function of the monopoly is: ?(?) = ?? + ?? .
(i) Find the profit maximizing price and output level of monopoly
and the amount of profit.
(ii) Now assume that the same inverse demand function and cost
function are faced by a competitive market. Find the profit
maximizing price and output level of competitive market and the
amount of profit.
(iii) Calculate the consumer surplus, producer surplus and
deadweight loss due to monopoly.
(iv) Assume that government imposes the monopoly a lump-sum tax of
? = $??? on total profit. How does the tax affect the profit of the
monopoly?
In: Economics
Please explain with examples means details:
1. What is Data Security Compliance?
2. What is FISMA?
3. Why is data security important in our society?
In: Computer Science
Q1)
Suppose that 23 g of each of the following substances is initially at 27.0 ∘C. What is the final temperature of each substance upon absorbing 2.45 kJ of heat?
Part A
gold
Part B
silver
Part C
aluminum
Part D
water
Q2) A 32.5 g iron rod, initially at 22.7 ∘C, is submerged into an unknown mass of water at 63.1 ∘C, in an insulated container. The final temperature of the mixture upon reaching thermal equilibrium is58.4 ∘C.
What is the mass of the water?
Express your answer to two significant figures and include the appropriate units.
Q3)Instant cold packs, often used to ice athletic injuries on
the field, contain ammonium nitrate and water separated by a thin
plastic divider. When the divider is broken, the ammonium nitrate
dissolves according to the following endothermic reaction:
NH4NO3(s)→NH+4(aq)+NO−3(aq)
In order to measure the enthalpy change for this reaction, 1.25 g
of NH4NO3 is dissolved in enough water to make 25.0 mL of solution.
The initial temperature is 25.8 ∘C and the final temperature (after
the solid dissolves) is 21.9 ∘C.
Part A
Calculate the change in enthalpy for the reaction in kilojoules per mole. (Use 1.0g/mL as the density of the solution and 4.18J/g⋅∘C as the specific heat capacity.)
Express your answer to two significant figures and include the appropriate units.
Q4)Zinc metal reacts with hydrochloric acid according to the following balanced equation.
Zn(s)+2HCl(aq)→ZnCl2(aq)+H2(g)
When 0.107 g of Zn(s) is combined with enough HCl to make 54.4 mL of solution in a coffee-cup calorimeter, all of the zinc reacts, raising the temperature of the solution from 22.3 ∘C to 24.3 ∘C.
Part A
Find ΔHrxn for this reaction as written. (Use 1.0 g/mL for the density of the solution and 4.18 J/g⋅∘C as the specific heat capacity.)
In: Chemistry