Reference no: EM131212346
Assessment
Answer all of the following questions.
1) Suppose a number of Australian Universities, except Charles Darwin University, open a campus in several Asian countries. How will this impact the enrolments at CDU? Explain using demand and supply diagram.
2) How will student enrolments be impacted at CDU if the government doubled the interest rate charged on student loans for all tertiary students in Australia? Explain using demand and supply diagram.
3) Why is marginal cost curve upward sloping? Is marginal cost curve always going to be upward sloping for all firms?
4) What are the main determinants of economic growth? How is growth related to Production Possibility Frontier?
5) What is the market structure faced by Australia Post? Are there any substitutes available for Australia Post's services? What was Australia Post's profitability in the year 2015? Show using a diagram.
6) The cost function for a firm is given as TC=200+20Q. Find the total cost, total fixed cost, total variable cost, average variable cost, average total cost and marginal cost for output level of up to fifteen units. Draw average total cost, marginal cost and average variable cost on a diagram. Explain the shape of marginal cost and average variable cost curve.
7) Compare the level of competition facing the only petrol station in a small regional town in Northern Territory as opposed to multiple petrol stations in Darwin. Identify the market structure in each case based on market characteristics.
8) Suppose you are considering opening a 24 hour fitness facility in Sydney. What will be the level of competition and potential profit in this market? Represent your short run and long run profit levels on a diagram.
9) Analyse the table below for a firm operating under perfect competition:
|
Quantity
|
Marginal Cost
|
|
1
|
0.2
|
|
2
|
0.4
|
|
3
|
0.6
|
|
4
|
0.8
|
|
5
|
1
|
|
6
|
1.2
|
|
7
|
1.4
|
|
8
|
1.6
|
|
9
|
1.8
|
|
10
|
2
|
|
11
|
2.2
|
|
12
|
2.4
|
|
13
|
2.6
|
|
14
|
2.8
|
|
15
|
3
|
|
16
|
3.2
|
|
17
|
3.4
|
|
18
|
3.6
|
|
19
|
3.8
|
|
20
|
4
|
If the price is $2, what is the profit maximising level of output? Is the firm making an economic profit or loss? Discuss.
10) How will the increase in ageing population impact the GDP of Australia in the future?
|
Lab tests is an acceptable business practice
: Joe Davidson recently began a new job as the office manager for a prominent medical clinic. He has just received a bill from MedTestPros, one of the labs that performs tests for the clinic. In reviewing the bill, Joe notices that the lab has charged ..
|
|
Develop an efe matrix for hershey company
: Join with two other students in class, and jointly prepare an EFE matrix for Hershey. refer to the cohesion case (p.26) and to exercise 1b (p.35), if necessary, to identify external opportunities and threats. make sure the factors you include are..
|
|
Which variance is directly impacted
: A company received a huge order from Customer X for production of 1,000,000 widgets. In order to take on the customer’s request, management has decided to hire more skilled workers and pay them higher wage rates to complete the order in time. Which v..
|
|
Which were designed to address acid rain
: Of the programs listed above, which were designed to address acid rain? Urban air pollution? Global warming? Mercury pollution?
|
|
What are the main determinants of economic growth
: Why is marginal cost curve upward sloping? Is marginal cost curve always going to be upward sloping for all firms? What are the main determinants of economic growth? How is growth related to Production Possibility Frontier?
|
|
What was the balance in the investment
: On January 1, 2013, Pacer Company paid $1,920,000 for 60,000 shares of Lennon Co.'s voting common stock which represents a 40% investment. What was the balance in the Investment in Lennon Co. account found in the financial records of Pacer as of Dece..
|
|
Management of change process
: Question 1: Think about a time when you were required to accomplish a new or nonroutine task at work that had the potential to cause injury or illness. Discuss how a management of change process could be used to reduce the risks. Who would be invo..
|
|
Uses the equity method to account for the investment
: Yaro Company owns 25% of the common stock of Dew Co. and uses the equity method to account for the investment. During 2013, Dew reported income of $250,000 and paid dividends of $80,000. There is no amortization associated with the investment. During..
|
|
Delivery operates a mail-order business
: Laura’s Dress Delivery operates a mail-order business that sells clothes designed for frequent travelers. It had sales of $620,000 in December. Because Laura’s Dress Delivery is in the mail-order business, all sales are made on account. Determine the..
|