Remember for your answer each of the assertions fundamental for your code to incorporate under a standard compiler and inside the sdds namespace.

VehicleBasic Class

Plan and code a class named VehicleBasic that holds data about a vehicle with a motor.

VehicleBasic Private Members

The class ought to have the option to store the accompanying information:

a tag number as a statically distributed cluster of characters of size 9.

where the vehicle is at a given second as a statically distributed cluster of characters of size 64.

the year when the vehicle was constructed.

You can add some other private individuals to the class, as needed by your plan.

VehicleBasic Public Members

a custom constructor that gets as boundaries the tag number and the year when the vehicle was fabricated. Set the area of the vehicle at Factory. Accept all information is substantial.

void NewAddress(const char* address): moves the vehicle to the new location if the new location is not the same as the current location. Prints to the screen the message

1. (a) Outline THREE key features of an oligopolistic market and state ONE example of an oligopolistic market in Ireland. (20 marks)

(b) With the aid of ONE clearly labelled diagram: (i) Explain the shape of the demand curve facing a firm in oligopoly. (ii) Explain the relationship between this demand curve and the firm's marginal revenue curve. (iii) Explain the long run equilibrium position of this firm. (40 marks) (c) Explain THREE methods by which firms in oligopolistic markets may collude. (15 marks) [75marks] 2. (a) Define (i) price elasticity of demand and (ii) cross elasticity of demand. In each case, state the formula by which it is measured. (20 marks) (b) When the price of Good X is 27, the quantity demanded of Good Y is 1,200 units. When the price of Good X falls to 23 (the price of Good Y unchanged) the quantity demanded of Good Y falls to 800 units. (i) Using the cross elasticity of demand formula, calculate the cross elasticity of demand for Good Y. Show all your workings. (ii) Is Good Y a substitute for or complement to Good X? Explain your choice. (25 marks) (c) A firm has the following price elasticities of demand for two goods, Good X and Good Y: Good X ..... 2.0 Good Y ..... 0.5 What changes, if any, should the firm make in the selling price of each of the goods to increase overall revenue. Explain your answer. (30 marks)

One of the most implemented tools to ensure continuous improvement and assessment is the Plan-Do-Check-Act (PDCA) cycle. It is a four-step quality model popularized by Dr. W. Edwards Deming but originally developed by Walter Shewhart in 1939. The cycle is also known as the Shewhart Cycle. The PDCA cycle has similarities to our MSL/Strategic leadership cycle. Both consider the high-level objective (why), consider the pieces connected to achieving the objectives (what) and break them down to practical, measurable action steps (how).

The four components of the PDCA cycle are:

Plan: Identify opportunities for change and plan for them. Establish objectives and ensure they are in alignment with strategic objectives. Do: Implement the changes and processes. Break down the large components into smaller, doable phases if needed. Check: Measure the outcomes to determine the efficacy of the plan, determine gaps, and analyze the data against expected results. Act: Once the level of success has been determined, implement the change on a larger scale, involve others, and determine the next objective to be put through the process. You are the CEO of a midsize, three star hotel chain, and you are stunned to learn from your vice president of customer relations that the most recent results of a guest satisfaction survey at your San Antonio, Texas, property were quite poor. Guests have complained about their negative experiences at the front desk (check-in and checkout), citing exceptionally long waiting time, improperly prepared bills, erroneous charges, rude service, and even possible credit card identity theft.

How would you address this important issue utilizing the PDCA cycle and the characteristics of a strategic leader?

In the first paragraph(s) of your post, provide an overview of the process you will use to address the case study issue. Be sure to leverage strategic leadership concepts in your approach.

After the introductory paragraph(s), devote a succinct paragraph to each step of the PDCA cycle. Review the descriptions of the cycle above to guide your decisions about what should be included at each phase. Clarify connections between the steps as well. Be specific in your discussion and analysis. For example,

What are the likely issues? How will you assess to determine those are the issues? What are your expected interventions? How will you assess whether interventions were successful? Write your plan so that anyone could pick it up and implement it at the hotel.

1. A brand manager for ColPal Products must determine how much time to allocate between radio and television advertising during the next month. Market research has provided estimates of the audience exposure for each minute of advertising in each medium, which it would like to maximize. Costs per minute of advertising are also known, and the manager has a limited budget of $25,000. The manager has decided that because television ads have been found to be much more effective than radio ads, at least 70% of the time should be allocated to television.

Suppose that we have the following data:

a. Identify the decision variables, objective function, and constraints in simple verbal expressions. b. Mathematically formulate a linear optimization model.

2. Implement the linear optimization model that you developed for ColPal Products in Excel and use Solver to find an optimal solution. (Attach excel file)

3. Ensure that the number of minutes of each type of ad are integer valued. How much difference is there between the optimal integer solution and the linear optimization solution? Would rounding the continuous solution have provided the optimal integer solution?

Remember for your answer each of the assertions fundamental for your code to incorporate under a standard compiler and inside the sdds namespace.

VehicleBasic Class

Plan and code a class named VehicleBasic that holds data about a vehicle with a motor.

VehicleBasic Private Members

The class ought to have the option to store the accompanying information:

a tag number as a statically distributed cluster of characters of size 9.

where the vehicle is at a given second as a statically distributed cluster of characters of size 64.

the year when the vehicle was constructed.

You can add some other private individuals to the class, as needed by your plan.

VehicleBasic Public Members

a custom constructor that gets as boundaries the tag number and the year when the vehicle was fabricated. Set the area of the vehicle at Factory. Accept all information is substantial.

void NewAddress(const char* address): moves the vehicle to the new location if the new location is not the same as the current location. Prints to the screen the message

1. (a) Outline THREE key features of an oligopolistic market and state ONE example of an oligopolistic market in Ireland. (20 marks)

(b) With the aid of ONE clearly labelled diagram: (i) Explain the shape of the demand curve facing a firm in oligopoly. (ii) Explain the relationship between this demand curve and the firm's marginal revenue curve. (iii) Explain the long run equilibrium position of this firm. (40 marks) (c) Explain THREE methods by which firms in oligopolistic markets may collude. (15 marks) [75marks] 2. (a) Define (i) price elasticity of demand and (ii) cross elasticity of demand. In each case, state the formula by which it is measured. (20 marks) (b) When the price of Good X is 27, the quantity demanded of Good Y is 1,200 units. When the price of Good X falls to 23 (the price of Good Y unchanged) the quantity demanded of Good Y falls to 800 units. (i) Using the cross elasticity of demand formula, calculate the cross elasticity of demand for Good Y. Show all your workings. (ii) Is Good Y a substitute for or complement to Good X? Explain your choice. (25 marks) (c) A firm has the following price elasticities of demand for two goods, Good X and Good Y: Good X ..... 2.0 Good Y ..... 0.5 What changes, if any, should the firm make in the selling price of each of the goods to increase overall revenue. Explain your answer. (30 marks) [75 marks] Page 5 of 7 3. (a) (i) State and explain FOUR factors which affect a consumer's demand schedule, other than the price of a good itself. (ii) Explain the economic rationale for assuming that a person's demand curve for a normal good slopes downward. (30 marks) (b) For something to be considered an economic good, it must possess certain characteristics. State and explain THREE of these characteristics. (20 marks) (c) A consumer spends all income on two goods, Good A and Good B. Both goods are normal goods but they are not complementary goods. The price of Good A is reduced and the price of Good B remains unchanged. The consumer continues to spend all income on the two goods. Distinguish between the substitution effect and the income effect of the price reduction in Good A. (25 marks) [75 marks] 4. (a) Define each of the following: (i) Supply price of a factor of production. (ii) Transfer earnings. (iii) Economic Rent. (20 marks) (b) A principal factor influencing the demand for labour by an individual firm is the Marginal Revenue Productivity of Labour (MRP). (i) Explain what is meant by the underlined term. (ii) Discuss the factors, other than MRP, which influence the demand for labour by an individual firm. (30 marks) (c) The diagram below represents the supply curve of labour to a particular firm. Supply Curve Wage rate

Supply of Labour Explain the effect which each of the following developments may have on this supply curve. Illustrate each answer by means of a diagram. (i) The workers shift their preference towards increased leisure time. (ii) The workers' trade union negotiates a minimum wage. (25 marks) [75 marks] Page 6 of 7 5. (a) Discuss the ways in which money can contribute to the smooth working of an economy. (20 marks) (b) Explain the likely economic effects if: (i) the supply of money grows at a faster rate than a country's production of goods and services (ii) the supply of money grows at a slower rate than a country's production of goods and services. (20 marks) (c) (i) Explain what is meant by the term price inflation. (ii) Name the main index used to measure price inflation in the Irish economy. (iii) Outline the economic consequences of a rise in the rate of price inflation in Ireland. (35 marks) [75 marks] 6. (a) Explain the following terms and show the relationship which exists between both: (i) Gross Domestic Product at Factor Cost (ii) Gross National Product at Market Prices. (20 marks) (b) Outline the effects which each of the following could have on the level of GNP at Market Prices. (i) a RISE in the general level of VAT; (ii) a REDUCTION in subsidies to first-time house buyers. Explain your answer in each case. (20 marks) (c) Discuss the positive and negative economic consequences which a fall in the level of economic growth (GNP) may have on the Irish economy. (35 marks) [75 marks] Page 7 of 7 7. (a) Discuss the economic effects which the recent rise in Ireland's population may have on the Irish economy. (25 marks) (b) Outline the effects which a rise in the level of unemployment in Ireland may have on: (i) Government current finances. (ii) The Balance of Payments (Current Account). (iii) Price Inflation. (20 marks) (c) Immigration replaced high levels of emigration during the 'Celtic Tiger' period. (i) Discuss THREE reasons why the trend has changed from emigration to immigration in Ireland. (ii) Discuss the economic consequences (positive and negative) for a country experiencing increased immigration. (30 marks) [75 marks] 8. (a) Explain how specialisation and the division of labour promotes globalisation/international trade. (20 marks) (b) The World Trade Organisation (WTO) aims to reduce trade barriers between countries. (i) Outline THREE possible economic advantages of free trade. (ii) Explain THREE economic reasons why countries may impose barriers to restrict trade. (iii) State and explain TWO methods of restricting free trade. (35 marks) (c) Adam Smith, author of 'The Wealth of Nations' (1776), explained the reasons for and benefits of free trade. Outline FOUR other areas in which he made contributions to economic thought.

1. A brand manager for ColPal Products must determine how much time to allocate between radio and television advertising during the next month. Market research has provided estimates of the audience exposure for each minute of advertising in each medium, which it would like to maximize. Costs per minute of advertising are also known, and the manager has a limited budget of $25,000. The manager has decided that because television ads have been found to be much more effective than radio ads, at least 70% of the time should be allocated to television.

Suppose that we have the following data:

a. Identify the decision variables, objective function, and constraints in simple verbal expressions. b. Mathematically formulate a linear optimization model.

2. Implement the linear optimization model that you developed for ColPal Products in Excel and use Solver to find an optimal solution. (Attach excel file)

3. Ensure that the number of minutes of each type of ad are integer valued. How much difference is there between the optimal integer solution and the linear optimization solution? Would rounding the continuous solution have provided the optimal integer solution?