We Also Provide SYNOPSIS AND PROJECT. Contact www.kimsharma.co.in for best and lowest cost solution or Email: amitymbaassignment@gmail.com Call: +91 82907-72200 (Call/WhatsApp) or +91 88003-52777 (WhatsApp Only) Amity assignment solution help, Amity assignment answers help, Assignment Help AMITY (Assignment) MBA Semester 1 ECONOMICS FOR MANAGERS 1st Block Assessment . Case Study Assume that you have been given a free ticket with no resale value to the holiday on Ice Show at Madison Square Garden featuring Michelle Kwan. At the same time, the Yankees are playing the Red Sox in New York which is your second best alternative activity. Tickets to the game cost is $ 38. You would be willing to pay $ 45 to attend the game. There is no additional costs of attending either event. Question 1 What is the least amount of money you would have to value seeing Kwan in order for you to choose the holiday on Ice Show? $7 $38 $48 $0 Question 2 Basic concept used under this study is : Incremental Cost Marginalism None of the above Opportunity Cost Question 3 Benefits of the opportunity cost approach to individual decision making: "Opportunity costs are subjective, existing in the minds of decision makers." "Economic profit would be total revenue minus all costs, including both explicit costs of purchased inputs and implicit (opportunity) costs of owner provided resources. " All of the above focuses on the economic ramifications of choices and expresses what is given up (a net benefit) by making a choice. Question 4 "If the production possibilities frontier is not bowed out but is a line, indicates there is" Scarcity Constant opportunity cost Unemployment Increasing Opportunity Cost Question 5 Which one of the following does measure risk? Standard Deviation Expected value All of the above Coefficient of variation Question 6 "If a person's utility doubles when their income doubles, then that person is risk" None of the above seeking averse neutral Question 7 Strategy A has an expected value of 10 and a standard deviation of 3. Strategy B has an expected value of 10 and a standard deviation of 5. Strategy C has an expected value of 15 and a standard deviation of 10. Which one of the following statements is true? "A risk averse decision maker will always prefer A to B, but may prefer C to A" All of the above are correct A risk neutral decision maker will always prefer C to A or B A risk seeking decision maker will always prefer C to A or B Question 8 A situation in which a decision maker must choose between strategies that have more than one possible outcome when the probability of each outcome is unknown is referred to as: diversification Uncertainty risk certainty Question 9 Circumstances that influence the profitability of a decision are referred to as states of nature strategies marginal utility of money payoff matrix Question 10 "If a decision maker is risk averse, then the best strategy to select is the one that yields the" highest expected payoff lowest standard deviation lowest coefficient of variation highest expected utility Quiz Score: 100 out of 100 2nd Block Assessments Case Study Firm A and Firm B are in a duopoly game, so they can either comply with a cartel argument or cheat on the agreement. The cartel agreement calls for each firm to boost its price and restrict the amount it produces. Strategies A's Strategies Cheat Comply B's strategies Cheat (0,0) (3,-1) Comply (-1,3) (2,2) Question 1 "If firm A cheats on the cartel and firm B complies with the agreement, Firm A's profit is " $ 3 million (-) $ 1 million $ 2 million Zero Question 2 "If firm A cheats on the cartel and firm B complies with the agreement, firm B's profit is " Zero $ 3 million $ 2 million (-) $ 1 million Question 3 "If this game is played only once, " both firms A and B will cheat neither Firm A nor Firm B will cheat Firm A will not cheat and Firm B will cheat Firm A will cheat and Firm B will not cheat Question 4 The equilibrium in the previous question is called Nash Equilibrium Cooperative equilibrium Duopoly Equilibrium Credible strategy equilibrium Question 5 If this game is played repeatedly and both firms adopt trigger strategies so that the cooperative equilibrium emerges both firms A and B will cheat neither Firm A nor Firm B will cheat Firm A will not cheat and Firm B will cheat Firm A will cheat and Firm B will not cheat Question 6 Which one of the following is a part of every game theory model? Strategies Players Payoffs Probabilities Question 7 "In game theory, a choice that is optimal for a firm no matter what its competitors do is referred to as" dominant strategy a gonzo selection game-winning choice Super optimal Question 8 A prisoners' dilemma is a game with all of the following characteristics except one. Which one is present in a prisoners' dilemma? Both players have a dominant strategy. Both players would be better off if neither chose their dominant strategy. The payoff from a strategy depends on the choice made by the other player. Players cooperate in arriving at their strategies. Question 9 "Which of the following legal restrictions, if enforced effectively, would be likely to solve a prisoners' dilemma type of problem for the firms involved?" All of the above would be likely to solve a prisoners' dilemma for the firms. A law that prohibits firms in an industry from advertising their services. A law that makes it illegal for oligopolists to engage in collusion. A law that prevents a cartel from enforcing rules against cheating. Question 10 "Until recently, medical doctors and lawyers have been prohibited from engaging in competitive advertising. If the prisoners' dilemma applies to this situation, then the presence of this restriction would be likely to" have no effect on the profits earned by individuals in these professions. increase profits earned by individuals in these professions. reduce profits earned by individuals in these professions. increase the profits of some and reduce the profits of other individuals in these professions. Quiz Score: 100 out of 100 3rd Block Assessments Case Study Consider the following equations: Qd = 31 - 3P and Qs = 6 + 2P, where Qd = quantity demanded and Qs = quantity supplied, P = price Demand Schedule Price Quantity demanded $250 1500 $200 2100 $150 2700 We Also Provide SYNOPSIS AND PROJECT. Contact www.kimsharma.co.in for best and lowest cost solution or Email: amitymbaassignment@gmail.com Call: +91 82907-72200 (Call/WhatsApp) or +91 88003-52777 (WhatsApp Only) Amity assignment solution help Amity assignment answers help Assignment Help Question 1 market - clearing price and qunatity using simultaneous equations will be: "P = 4, Q = 6" "P = 5, Q = 16" "P = 3, Q = 2" "P = 6, Q= 4" Question 2 Suppose P = 7. Calculate the ecess. Is it a shortage or surplus. "8, Surplus" "10, Surplus" "8, shortage" "10, shortage" Question 3 Suppose P = 2. Calculate the ecess. Is it a shortage or surplus. "6, shortage" "6, surplus" "15, shortage" "15, surplus" Question 4 "If price falls from $250 to $200, what is the elasticity of demand over this range?" -1.5 -0.08 -0.67 -1 Question 5 "As output increases from 2,100 to 2,700 what is marginal revenue?" 50 (-) $300 (-) $ 25 25 Question 6 "If price falls from $250 to $200," an arrow representing the price effect points down and is shorter than an arrow for the quantity effect arrows representing the price and quantity effects both point down arrows representing the price and quantity effects both point up an arrow representing the price effect points down and is longer than an arrow for the quantity effect Question 7 If price falls from $200 to $150 total revenue moves in the same direction as the arrow representing the price effect total revenue moves in the same direction as the arrow representing the quantity effect an arrow representing the price effect points down and is shorter than an arrow for the quantity effect arrows representing the price and quantity effects both point down Question 8 "If the own-price elasticity of demand for a good is -0.6 and quantity demanded decreases by 30%, price must have" decreased by 18% increased by 50% decreased by 0.6% increased by 20% Question 9 Which of the following would tend to DECREASE the elasticity of demand for good X? Consumers begin spending a smaller percentage of their income on X both b and c New substitutes for X become available from other firms The cost of producing X declines Question 10 Which of the following would tend to INCREASE the elasticity of demand for good X? both b and c "a new product, Y, which can be used in place of X, is introduced" the percentage of a consumer's income spent on good X increases. a new discovery allows firms to produce X at a much lower cost. Quiz Score: 100 out of 100 4th Block Assessments Case Study Magnificient Blooms is a florist specializing in floral arrangements for weddings, graduation and other events. Magnificient Blooms has a fixed cost associated with space and equipment of $100 per day. Each worker is paid $50 per day. The daily production function for magnificient Blooms is shown in the table. Quantity of labor (Workers) Quantity of floral arrangement 0 0 1 5 2 9 3 12 4 14 5 15 Question 1 Calculate marginal product of each workers. "7,6,5,4,3,2" "6,5,4,3,2,1" "5,4,3,2,1" "0,1,2,3,4,5" Question 2 Calculate the marginal cost of each level of output "10, 13.5 , 17.67, 30, 55" "10, 12.5, 16.67, 25, 50" "48, 13, 12, 10.9, 3, 1" "10, 15.5, 20.25, 40, 60" Question 3 "If all resources used in the production of a product are increased by 20 percent and output increases by 20 percent, then there must be: " diseconomies of scale increasing average total costs economies of scale constant returns to scale Question 4 "If the output levels at which short-run marginal and average cost curves reach a minimum are listed in order from smallest to greatest, then the order would be" "AVC, ATC, MC" " MC, AVC, ATC" "ATC, AVC, MC" "AVC, MC, ATC " Question 5 "If an input is owned and used by a firm, then its" explicit cost is zero opportunity cost is zero economic cost is zero implicit cost is zero Question 6 Short - run marginal cost is: the change in total variable cost divided by the change in output the cost per unit of the variable input divided by the marginal product of the variable input the change in total cost divided by the change in output all of the above Question 7 One reason that a firm may experience increasing returns to scale is that greater levels of output make it possible for the firm to All of the above are correct obtain bulk purchase discounts employ more specialized machinery employ a greater division of labor Question 8 Breakeven analysis identifies the All of the above are correct level of output where marginal revenue is equal to marginal cost level of output where economic profit is equal to zero profit-maximizing level of output Question 9 The responsiveness or sensitivity of a firm's profits to changes in output is measured by a firm's degree of operating leverage operating leverage contribution margin per unit returns to scale Question 10 "If a linear short-run variable cost function is estimated using cross-sectional data, then the corresponding marginal cost function will be" U-shaped Horizontal Upward sloping Downward Sloping Quiz Score: 100 out of 100 We Also Provide SYNOPSIS AND PROJECT. Contact www.kimsharma.co.in for best and lowest cost solution or Email: amitymbaassignment@gmail.com Call: +91 82907-72200 (Call/WhatsApp) or +91 88003-52777 (WhatsApp Only) Amity assignment solution help Amity assignment answers help Assignment Help 5th Block Assessments Case Study Inflation can occur in an open economy with fixed exchange rates as a result of monetary, fiscal or Wicksell-Keynes forces in other countries. Inflation that originates abroad is often called "imported inflation." Three mechanisms transmitting imported inflation are distinguished in the country studies that follow. One operates by changing the expenditure function. Exports rise. A second operates by changing the relative prices of imported and domestic goods. An increase in the price of foreign substitutes raises the price of domestic production. The analysis of an increase in exports or of an increase in domestic substitutes for foreign goods is similar to the analysis of a Wicksell-Keynes inflation. The third mechanism transmitting inflation is a change in the monetary base. This mechanism operates whenever a balance of trade surplus or a surplus on capital account induces an increase in the foreign reserves of the central bank. Any increase in the base increases the money stock and starts a monetary inflation. Question 1 A cause of inflation decrease in money supply and fall in production Fall in production increase in money supply and a fall in production Increase in money supply Question 2 Inflation brings more benefit to which one of the following? Debtors Creditors Government pensioners Savings Bank Account Holders Question 3 Inflation is mostly harmful to which one of the following? Holder of real assets Business class Debtors Creditors Question 4 Increasing unemployment and inflation is a situation of: Stagflation Hyperinflation Galloping inflation Reflation Question 5 Who among the following are not protected against inflation? Salaried class Agricultural farmers Pensioners Industrial workers Question 6 "The period of high inflation, low economic growth and high unemployment rate is termed as: " Stagflation None of the above Take - off stage in economy Stagnation Question 7 "Deficit financing aims to put more money into the economy by creating additional paper currency to fill the gap between expenditure and revenue. The device aims at economic development but if it fails, it generates" Inflation Deflation Demonitisation Devaluation Question 8 A steady increase in the general level of prices as a result the aggregate demand is increasing in unsustainable rate as compared to aggregate supply is termed as Demand - pull inflation Cost push inflation Structural Inflation Stagflation Question 9 Which is correct in respect to inflation? rise in general price index rise in money supply rise in budget deficits rise in price of consumer goods Question 10 Which of the following is not a reason for inflation? Increase in cost of capital None of these Increase in administered prices More dependence on indirect taxes for revenue Quiz Score: 100 out of 100 We Also Provide SYNOPSIS AND PROJECT. Contact www.kimsharma.co.in for best and lowest cost solution or Email: amitymbaassignment@gmail.com Call: +91 82907-72200 (Call/WhatsApp) or +91 88003-52777 (WhatsApp Only) Amity assignment solution help Amity assignment answers help Assignment Help Full Syllabus Assessment Case Study Scenario - 1 Bob’s Bakery has two locations. The bakery decides to experiment with charging different prices at the two bakeries, to find out which price will bring in higher total revenues. The results of the experiment are shown in the graph below. Scenario - 2 Calculate from the following data: Factor income from NDP accruing to private sector 300 Income from entrepreneurship and property Accruing to govt administrative departmental 70 Savings of non-departmental enterprises 60 Factor income from abroad 20 Consumption of fixed capital 35 Current transfer from rest of the world 15 Corporation taxes 25 Factor income to abroad 30 Current transfer from govt governmental admi depart 40 Direct taxes paid by house hold 20 National dept interest 5 saving of private corporate sector 80 Question 1 The revenue earned at Downtown Bakery is equal to area A area C area B area A+ B Question 2 Area A is bigger than area C. This means that Demand for chocolate cake is highly price elastic The quantity supplied of chocolate cake exceeds the quantity demanded. The quantity demanded of chocolate cake exceeds the quantity supplied Demand for chocolate cake is price inelastic Question 3 Which of the following statements is true? "A single, straight-line demand curve can be elastic in one region and inelastic in another" "When demand is unit elastic, revenue is strongly affected by price changes." Perfectly inelastic demand can be represented by a horizontal line Elasticity is identical to the slope of the demand curve. Question 4 Suppose a 50% increase in the price of a drug results in no change in the quantity demanded. What is the price elasticity of the drug? 0 0.5 1 0.05 Question 5 Which one of the following goods is most likely to have a perfectly elastic demand? a particular brand of butter Shoes Rice in a developing country Cigrattes Question 6 "A population subsists largely on potatoes, plus small amounts of dairy products and vegetables. The price of potatoes rises, driving many poor families deeper into poverty. As a result, these families are forced to eliminate dairy products and vegetables from their daily diet and start eating even more potatoes than they did before. In this example potatoes are" Giffen goods inferior goods both b and c normal goods Question 7 Calculate private income 390 crores 355 crores 350 crores 325 crores Question 8 Calculate national income 280 crores 460 crores 660 crores 245 crores Question 9 Calculate personal disposable income 225 crores 305 crores 320 crores 315 crores Question 10 The financial year in India is January 1 to December 31 March 16 to March 15 April 1 to March 31 March 1 to April 31 Quiz Score: 100 out of 100 We Also Provide SYNOPSIS AND PROJECT. Contact www.kimsharma.co.in for best and lowest cost solution or Email: amitymbaassignment@gmail.com Call: +91 82907-72200 (Call/WhatsApp) or +91 88003-52777 (WhatsApp Only) Amity assignment solution help Amity assignment answers help Assignment Help Live Interactive Session Test Question 1 What is Scarcity? Relationship between limited resources and unlimited wants Relationship between limited wants and limited resources Relationship between unlimited resources and limited wants None of the above Question 2 Investment problems lead to: How much to expand a firm How much to invest In which to invest All of the above Question 3 Indifference is Concave to the origin Convex to the origin horizontal parallel to x-axis None of the above Question 4 MRTS is equal to ratio of commodity prices which known as Consumer equilibrium Indifference curve Consumer surplus Demand Elasticity Question 5 Budget Constraint refers to Combination of goods a consumer can purchase with income as a constraint Combination of only two goods a consumer can purchase with income as a constraint Combination of goods and services a consumer can purchase with income as a constraint None of the above Question 6 Total fixed costs remain ________ as output increases Constant upward sloping downward sloping None of the above Question 7 "In second stage of production, TP increases but _____ than proportionate to increase in labor" More Less Equal None of the above Question 8 Price discrimination in which seller charges different prices for different classes for buyers is classified as fourth-degree discrimination second-degree price discrimination first-degree price discrimination third-degree discrimination Question 9 "Image pricing, location pricing, channel pricing and time pricing are all types of price discrimination of" First degree Second degree Third degree Fourth degree Question 10 "Price discrimination in which seller charges less to customer's, who buy in large volumes is classified as" First degree Second degree Third degree Fourth degree Question 11 Scarcity implies that the allocation scheme chosen by society can Not make more of any one good Typically make more of a good but at the expense of making less of another Always make more of all goods simultaneously None of the above Question 12 The short run is a time period in which: all resources are fixed the level of output is fixed the size of the production plant is variable. some resources are fixed and others are variable. Question 13 Variable costs are: sunk costs. multiplied by fixed costs. costs that change with the level of production defined as the change in total cost resulting from the production of an additional unit of output Question 14 When marginal product reaches its maximum, what can be said of total product? total product must be at its maximum total product starts to decline even if marginal product is positive total product is increasing if marginal product is still positive total product levels off Question 15 The marginal product of labor curve shows the change in total product resulting from a: one-unit increase in the quantity of a particular resource used, letting other resources vary. one-unit increase in the quantity of a particular resource used, holding constant other resources. change in the cost of a variable resource. change in the cost of a fixed resource. Quiz Score: 150 out of 150 We Also Provide SYNOPSIS AND PROJECT. Contact www.kimsharma.co.in for best and lowest cost solution or Email: amitymbaassignment@gmail.com Call: +91 82907-72200 (Call/WhatsApp) or +91 88003-52777 (WhatsApp Only) Amity assignment solution help Amity assignment answers help Assignment Help