Answer all parts of the qus

Answer THREE

1. Critically outline and assess the Marshall-Hicks laws of derived labour demand. Discuss how a trade union might attempt to minimize the adverse consequences of an attempt to push wages higher.

2. Outline the reasons why people migrate. What are the costs and benefits of a policy to restrict immigration, with particular focus on the issue of illegal immigration?

3.

Using indifference curve analysis, isolate the income and the substitution effects of an observed change in labour participation from an increase in wages. Show a case where the substitution effect dominates the income effect in the decision.

Outline the basic model of human capital investment. What factors determine whether there are positive financial returns from receiving a university degree?

5.

Q

6.

Discuss the demand for labour in competitive markets when other inputs can be varied, making reference to scale and substitution effects. Differentiate between substitutes and complements in production.

Explain the causes and reasons for wan ing

70. Recent decades have seen a trend toward globalization, which means that buying and selling in markets have crossed national borders to an increasing extent. As a result, firms and workers from different countries are increasingly interconnected. Globalization has occurred for a number of reasons. List three reasons and briefly describe their effect contributing toward globalization. (5 points)

These are questions that could have been used as part of the final examination for Economics 182. Answers are given at the bottom of this file. You should use these questions to measure your present level of understanding of the course material and to get an estimate of how well you would do or the final examination with your current understanding. Don't peek at the answers!!

1. The entire quantity available of a consumption good is allocated amongst several people. Some of these people value their last unit received at $30. All of the other people value their last unit received at $45. The total consumption value of the good (a) is already maximized since all units of good are already allocated.

(b) will be increased by reallocating some units from people who value them at $30 to people who value them at $45.

(c) will be increased by reallocating some units from people who value them at $45 to people who value them at $30.

(d) will be increased by reallocating every unit to the people who value their last units at $45. (e) will be increased by reallocating every unit to the people who value their last units 30.

2. In the competitive market for pizza the quantity of pizzas demanded is = 120-4p and

the quantity supplied of pizzas is Q'=-5 +p, where p is the market price per pizza. What is the maximum possible total gain from trade that this market can generate?

(a) $250.

(b) $300.

(c) $3.50

(di sem

Firms Alpha and Beta serve the same market. They have constant average costs of 2 per unit. The firms can choose either a high price (10) or a low price (5) for their output. When both firms set a high price, total demand = 10,000 units which is split evenly between the two firms. When both set a low price, total demand is 18,000, which is again split evenly. If one firm sets a low price and the second a high price, the low priced firm sells 15,000 units, the high priced firm only 2,000 units. Analyse the pricing decisions of the two firms as a non-co-operative game. 1. In the normal from representation, construct the pay-off matrix, where the elements of each cell of the matrix are the two firms' profits. 2. Derive the equilibrium set of strategies.

62. What is often the role of management in the achievement of quality in a business? A. To assign blame B. To lead the effort C. To judge the staff D. To eliminate conflict 63. Which of the following is an example of a fixed operating expense: A. Insurance B. Sales commissions C. Advertising D. Travel expenses 64. What information does a business always need to have when it conducts a break-even analysis? A. Fixed costs and depreciation rates B. Variable costs and fixed costs C. Production time and variable costs D. Production time and depreciation rates 65. Which of the following should a business consider when negotiating a service or maintenance contract on a piece of equipment: A. Does the cost of the contract exceed the cost of possible repairs? B. Is training and technical assistance available? C. How much profit does the seller make on the contract? D. Does the equipment require installation? 66. Which of the following is a situation in which a business could use the budget information to make operating changes: A. Total revenues exceed projected costs. B. Estimated sales exceed actual sales. C. Expected profits are increasing. D. Accounts receivable are on target. 67. To effectively manage a supply chain, companies should A. introduce frequent changes to the production process. B. ignore underperforming suppliers and distributors. C. monitor the performance of all supply chain partners. D. launch new products through multiple suppliers. 68. An employee is comparing income statements from the past three years to evaluate changes and trends in the business's revenue. What type of business analysis is the employee conducting? A. Production B. Financial C. Information management D. Sales 69. Before assigning a new project to her employees, Joanna establishes the steps that her staff needs to take to complete the project. Joanna is utilizing A. human resource planning. B. business process thinking. C. agile project management. D. change management. 70. A manufacturing company is required by the local government to dispose of its waste in an environmentally safe way. This is an example of how process design can be affected by ____ factors. A. human B. regulatory C. technolog

describe the solow growth model

Discuss the theories of leadership

state and explain the characteristics of entrepreneurship

Bilbo Baggins is the CEO of a large accountancy firm and is looking to decide in upgrading the operating system of PCs in his company from Windows 7 to Windows 10. As a first thought, what appealed most to Baggins about Windows 10 was the enhanced security features. As an accounting company's CEO, Baggins was hyperaware of the security of its customers. The company, of course, had its own security software embedded on all its computers and secure storage for its backup hardware. Windows 10 introduced new features since Windows 7, and Windows 8, to provide a more secure environment. One new feature was Device Guard, which gave organizations the ability to block anything other than trusted apps. Baggins liked that she would be in control of what sources Device Guard considered trustworthy. Yet Windows 10 was a cloud-based SaaS operating system. It bothered Baggins that the OS was cloud-based.

Another feature, Windows Hello, provided enhanced biometric support - a Windows 10 offering aimed at reducing reliance on passwords. Baggins liked the thought of relying less on passwords as employees were always forgetting their passwords (especially after a long vacation) and locking themselves out. Passwords were also hackable, a thought that did not please Baggins. This biometric support used a person's face, iris or fingerprint to identify the user. After a user had authenticated himself or herself by using Windows Hello and successfully logged in to the system, the user still needed to remember dozens of passwords for the many services used. This was where Microsoft Passport came in. Passport was a programming system that IT managers, software developers and website authors could use as a more secure way of signing into their often used websites or apps. Instead of using a password, which could be shared, Passport securely authenticated applications, website and networks on the user's behalf. Baggins liked the idea that there would be no shared password stores on the company's servers, which could allow for a potential hacker to hack the server. Windows 10 will ask you to verify that you have possession of your device before it authenticates on your behalf, with a PIN or Windows Hello on devices with biometric sensors. Once authenticated with "Passport", you will be able to instantly access a growing set of websites and services across a range of industries favorite commerce sites, email and social networking services, financial institutions, business networks and more.

Questions

1. What would a cloud-based OS mean for security for the firm? Identify 2 risks vs. 2 benefits.

answer all

RESEARCH PROJECT:

Play and Stay Manufacturing(P&S) has a factory that produces cabinetry for the RV and marine market. The company has other product lines. Materials and labor for the cabinets are determined by each job. To simplify the assignment, we will assume the following average costs The following information highlights P&S Manufacturing's cost structure for 2020. The materials include $2,800 for the wood and other materials on a per-job basis. It requires 24 hours of labor on average for the cabinetry. The hourly rate is$11. The sales price will be set at a markup of 80%. The company estimates that it will have 43,200 direct labor hours in total for the cabinets. It assumes 1800 units are sold on average per year. A breakdown of estimated yearly costs related to the cabinetry follows:

Salaries- office & administrative $ 500,000 Salaries for factory personal $ 350,000 Office Rent $ 150,000 Factory Rent $ 30,000 Office utilities and Misc office expenses(based on units sold) $ 15,000 Sales travel(based on units sold) $ 24,000 Insurance - office $ 12,000 Depreciation - office equipment $ 40,000 Depreciation for factory equipment $ 70,000 Advertising $ 20,000 Sales commissions(based on units sold) $ 50,000 Factory Property taxes $ 25,000 Maintenance for factory equipment $ 80,000 Hint: you will need to distinguish between product vs. period costs and variable vs fixed costs. Please do not forget all costs for this company (not just the ones listed above in the table)

QUESTIONS for Excel Part General requirements: A schedule will be created for each of the following questions. Use a new worksheet (not workbook) to answer each question. You can combine Q6 and Q7 in one sheet for comparison purposes. All schedules should be included in excel. Your spreadsheets must contain formulas and referring numbers. Not using formulas will result in a minimum one letter-grade reduction. Linking the schedules is required. Your spreadsheet must be professional and include the following items: report titles, formatted numbers, single and double underlines, and correct spelling. Every number should be labeled clearly so the reader understands what numbers represent. If you are unsure about the format, please review the textbook for a similar report or ask!!! Detailed Requirements: 1. Please identify and calculate totals for the following classifications on ALL costs listed on the first page: variable and fixed costs; product and period costs. The schedule should contain numbers for each area on a yearly basis. For the variable cost, also show them on a per unit basis. (must be calculated based on 1800 units above) 2. Determine the average cost of manufacturing one unit given the volume expected to be sold every year and assuming the MOH costs are allocated based on the direct labor hours per unit. Please show all calculations and round to the nearest dollar. Calculate the sales price based on your cost calculation. I would recommend that you calculate the MOH per unit first. You should calculate an Overhead rate. 3. Prepare a Job Order Cost sheet for the following custom project: Materials $6,000 and 30 hours of labor. Calculate the sales price based on your cost calculations. Do not use these numbers for any other calculation. 4. What is the Contribution Margin (CM) in total and per unit dollars, and CM% for the sale of 1,800 units? Label each calculation so that it is clear to the reader what is being shown. These numbers should be linked to Q1. 5. Prepare a traditional Income Statement assuming a volume of 1,800 units. For the cost of goods sold, please use the per-unit cost you calculated in #2. You do not have to prepare any additional schedules. I would use a similar format to exhibit 16-8 on page 737 or from your lecture notes. I recommend that you list out all operating expenses (period costs) identified in Q1. Do not use just Selling and General/Administrative Expenses for your categories. Points will be lost by not listing out all period costs. You can ignore interest and income tax expenses. These numbers should be linked toQ1. 6. Prepare three CVP Income Statements using the following yearly volumes: 1,200, 1,800, and 2,500. Keep in mind how variable and fixed costs behave. The traditional income statement from #5 should be about the same net income as the 1,800 units for the CVP format. In addition, Q1 should agree to the total fixed costs and per-unit variable costs for these schedules. (see PowerPoint from chat the week of the project for format) a) Calculate Break-even in units and sales $ for the company b) Calculate units and sales $ if the company wants a profit of $5,000,000. c) Margin of safety in dollars for 1,800 units. 7. Prepare a new CVP Income Statement that reflects the following proposed changes. The company is considering a new supplier and some additional factory costs to increase quality and production levels. The new supplier will reduce direct material costs by 5%. The fixed costs will increase costs by 45%. With the expected increase in quality, the company believes that it can support a 3% increase in sales. The volumes used should be 1,800, 2,500 units, and maybe more volumes. 8. Assuming P&S Manufacturing is considering adding another product line - molded doors (keeping the cabinet production constant at 1,800 units). How many units should the company sell to make adding the additional line economically feasible/attractive? Adding this line will require hiring a different type of worker which costs the company $15/hour. P&S Manufacturing estimated each unit takes 10 hours of labor, and $850 direct materials. This line is estimated to incur an additional fixed MOH $425,000 for the year, and variable costs/expenses per unit are the same as the cabinet product line. This product line does not add additional fixed period costs but shares the fixed period costs with the cabinetry line. The company estimated sales price of a set of doors would be $1,850.

QUESTIONS for the Written Analysis General requirement: Assume you are addressing some concerns by the board of directors by answering the following questions listed in the "Detailed questions" below. Remember, you are writing to the board, not just answering questions. Please use a memo format for the paper and address it to the Board of Directors. The structure of the paper should include an opening paragraph about the company in a word document. The discussion questions should be answered in the order listed. However, do not number the questions. Instead, the discussion should flow from one topic to the next and include as a minimum the questions identified. Although you should not construct the memo in a numbered-points format, you could consider adding subtitles for different areas of discussions, if appropriate. This helps the directors more easily identify the topics/concerns addressed in the paper. Do not discuss/explain your calculations. Answer the questions related to your calculations, and support your arguments with numbers when necessary. You should be thinking about all the concepts that you have learned from this course and their importance to a business owner or investor. I should finish reading your paper and see the concepts and some industry knowledge demonstrated through the discussion and the analysis. Finally, the closing paragraph(s) should summarize the company, industry, and results. Plan to devote time to writing and reviewing the paper. There will be significant grade reductions for papers that are not well written (spelling, grammar, etc.) I would recommend that the paper be approximately 5-7 pages (excluding any spreadsheet or reference sources you may include). Each group should work independently. Do not copy and paste from other papers, publications, or media coverage. Even when you need to cite information from an annual report, you should reframe the information using your own language. Before submission, please submit/check the originality of your essay on turn-it-in: https://www.turnitin.com. The similarity % must be less than 10%. Only submit 1 time and then let me know if there is an issue.

Detailed questions: 1. Discuss other options for the activity base besides the DL hours currently used and the importance of the MOH allocation. Is this the best activity base for this company? Do multiple product lines impact the MOH allocation? How? 2. What other factors would impact the sales price for this type of company? Can a company rely on setting prices based on just a % on cost? What is important in the current environment to a business in this industry to consider? 3. Discuss the importance of Excel Q6 calculations to P&S Manufacturing (BE, TP and MOS). Give examples supported by numbers of how you would use these calculations as the CFO of the company. (create a new spreadsheet) Fully discuss the differences between the traditional vs CVP format (minimum of 3). 4. Should the company consider the changes from excel Q7? Why or why not? Give some real examples of additional cost increases for fixed costs and decreases for direct materials that could be implemented for this specific business. (at least 3 examples in total) Please consider and discuss the following areas: fixed costs change, CM per unit change, and sales fluctuation. I would recommend creating a new spreadsheet (with the changes) with the same volumes as excel Q6 and additional volumes to understand how to answer this question. 5. Due to the current Covid crisis, the factory was shut down for 2 weeks. In addition, the company expects that normal operating levels will not be met due to supplier issues. Explain what will happen to the MOH costs on a per-unit basis if fewer units are sold. Could it impact per unit cost? (keep in mind the type of cost that MOH is for this company) 6. With the current Covid crisis, please discuss at least 3 financial issues that this company should be concerned about and suggestions to the board on how to address these issues. Is this an industry that has seen increased or decreased sales due toCovid? 7. If the company adds the molded door line, should ABC be considered? Why? Fully discuss all pertinent points and show calculations needed to support your answers. 8. To become more familiar with Financial Statements, understand the industry for this company, and find information through Edgar for SEC filings, please use Patrick Industries, Inc.(SIC 3714) information to answer the following questions only. The sections of the 10K that I would focus on to answer the questions below would be the following: business; risk factors; and Management Discussion and Analysis:

The website to access the 10K is http://www.sec.gov/edgar/searchedgar/companysearch.html. You should use the 12/31/19 10K filing. This company is in the same industry as P&S. a. Identify the company's 2 reportable segments and list 5 product lines for each segment. What are the four primary markets that the company sells to and the % of sales for each area? b. Choose one market area and discuss what has been happening in that segment. For example, have sales been increasing or decreasing? Competition? Outside factors like labor or material procurement? what are the areas of concern? Are these issues concerns also for P&S? c. What is the company doing to create a brand name? Describe this in detail. d. Apply the industry knowledge you acquired from your review of Patrick Industries to make a list of recommendations (minimum of 3) that P&S should implement and/or be aware of when running their own business. FYI, this is not your closing paragraph...