Eco Assistance - 1866 Words

Economic Question 1: (a) Complete the following table of costs for a firm. (Note: enter the figures in the MC column between outputs of 0 and 1, 1 and 2, 2 and 3, etc.) Output (units) | TC(ï ¼â€ž) | AC(ï ¼â€ž) | MC(ï ¼â€ž) | 0 | 55 | ---- | 30 | 1 | 85 | 85 | | | | | 25 | 2 | 110 | 55 | | | | | 20 | 3 | 130 | 43 | | | | | 30 | 4 | 160 | 40 | | | | | 50 | 5 | 210 | 42 | | | | | 70 | 6 | 280 | 47 | | | | | 90 | 7 | 370 | 53 | | | | | 110 | 8 | 480 | 60 | | | | | 130 | 9 | 610 | 68 | | | | | 150 | 10 | 760 | 76 | | (b) How much is total fixed cost at: (1) an output of 0 units? Answer The â€Å"0 units† total fixed cost is 55. (2) an output of 6 units?†¦show more content†¦(b) How might you determine whether the pre-recorded music compact discs and MP3 music players are in competition with each other? Answer The pre-recorded music compact discs and MP3 music players are cross elasticity of demand. Cross elasticity of demand is the ratio of the percentage change in the quantity demanded of a good or service to a given percentage changes in the price of a related good or service. The pre-recorded music compact discs and MP3 music players are substitute. So when pre-recorded music compact discs demand increase, the MP3 music players will decrease. When MP3 music players demand increase, the pre-recorded music compact discs demand will decrease. (c) Interpret the following Income Elasticities of Demand (YED) values for the following and state if the good is normal or inferior; YED= +0.5 and YED= -2.5 Answer The income elasticity of demand is positive, it is a normal good or service, so YED= +0.5, it is normal good or service. The income elasticity of demand is negative, it is an inferior good or service, so YED= -2.5, it is inferior good or service. (d) Interpret the following Cross-Price Elasticities of Demand (XED) and explain the relationship between these goods. XED= +0.64 and XED= -2.6 Answer The Cross-Price Elasticity of Demand is positive; it is substitutability between the two goods. So XED= +0.64, it isShow MoreRelatedEco Assistance1878 Words   |  8 PagesEconomic Question 1: (a) Complete the following table of costs for a firm. (Note: enter the figures in the MC column between outputs of 0 and 1, 1 and 2, 2 and 3, etc.) Output (units) | TC(ï ¼â€ž) | AC(ï ¼â€ž) | MC(ï ¼â€ž) | 0 | 55 | ---- | 30 | 1 | 85 | 85 | | | | | 25 | 2 | 110 | 55 | | | | | 20 | 3 | 130 | 43 | | | | | 30 | 4 | 160 | 40 | | | | | 50 | 5 | 210 | 42 | | | | | 70 | 6 | 280 | 47 | | | | | 90 | 7 | 370 | 53 | | | | | 110 | 8 | 480 | 60 | | |Read MoreDomestic Terrorism Related Intelligence.2158 Words   |  9 Pagesterrorism is like cancer that eats away at the very values and beliefs of the American people. Instead of combining efforts to peacefully and legally enact change, domestic terrorists take the law and actions into their own hands. Groups such as eco-terrorists use firebombing to make their point that the Earth will be protected at all costs. That cost even meant human lives. Militia groups feel the same way. Their goal is not about saving the Earth but rather to change the government. TheyRead MoreAnalysis Of Tianjin Eco City Project1532 Words   |  7 PagesTianjin Eco-city, which started in 2008/2009 is an ambitious project brought about by cooperation between China and Singapore, aiming for a responds to challenges the urban development has caused. Its aim is to be an example for the future improvement of the metropolis creation and performance; Singapore Prime Minister Lee Hsien Loong and Chines e Premier Wen Jiabao made an statement for a â€Å"A thriving city which is socially harmonious, environmentally-friendly and resource-efficient – a model forRead MoreResearch Proposal1706 Words   |  7 Pages ECO 217 Task: GROUP ASSIGNMENT NAMES REG. NO. SIGN 1. HUSSEIN IBRAHIM ABDIRAHMAN ECO/201/O9 †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 2. THIONG AGUTO GAAR ECO/1002/10 †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 3. JACKLYNE .C.KIPTOO ECO/137/10 †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Read MoreAnalysis Of One World : The Ethics Of Globalization Essay1355 Words   |  6 Pagesactivities have no say in the matter. Singer also points out that the polluters are the ones economically benefiting from the environmental damage that they are creating. In the example of cars, there is no real benefit to driving a gas-guzzler over an eco-friendly vehicle but the social implications to the customers that it implies outweighs logic and reason. He suggests that oil-rich countries subsidize gas or implement direct policy changes to encourage greener production. Singer also suggests an equitableRead MoreSocial Responsibility at the Target Corporation1110 Words   |  4 Pagesits negative activity towards society (Parks, 2008). The business approach and corporate philosophy of an organization is easily altered due to economic pressures, technological impr ovement and stakeholder needs and demands. Going green or being eco-friendly is one such demand. Environmental and sustainability concerns originate most often from governments, consumer activists, and the general public (Schlosser, 2008). Thus, organizations must implement sustainability into daily practices. In additionRead MoreSolar Bottled Light Bulb1746 Words   |  7 Pagesforemost, this research or study would not have been possible without the help and support of many people. The group would like to extend its utmost gratitude to Mrs. Jocelyn Pama, the subject teacher who abundantly helped and offered invaluable assistance, support and guidance to this project. Same thing goes to the High School Science Laboratory for providing the laboratory facilities. Thank you for the working scholars who profusely takes time to give service during our experiments and activitiesRead MoreCorporate Social Responsibilities And Contributions Of Johnson And Johnson1230 Words   |  5 Page sprograms. Confidential support and treatment is provided to HIV/AIDS employees. Disaster response is another big challenge they took up. The organization takes serious measures for environment issues such as energy conservation, waste management and eco-friendly product manufacture. About Johnson and Johnson â€Å"Founded in 1886, Johnson Johnson Company is engaged in the research and development, manufacture and sale of a broad range of products in the health care field.† (The New York TimesRead MoreGoodness And Nature In Fantasy Essay1454 Words   |  6 PagesPrincess Mononoke, there has always been something fascinating and fantastical about the majesty of nature. After all, the entire subgenre of eco-fantasy focuses on this exact concept. Even in our world, nature is seen as the epitome of goodness and purity, therefore it is reasonable that many fantasy stories, even those not traditionally categorized as eco-fantasy, connect their pure protagonists to symbols of nature. Many stories written by the Brothers Grimm demonstrate this, particularly theRead MoreConflict between Development and Conservation of Natural Habitats and Biodiversity1727 Words   |  7 PagesKabananukye and Wily 1996). This had created a lot of conflict between local residents and the park staff, which led to locals starting fires throughout dry seasons with planned mean of obliterating government property. Due to such events, Care for Assistance and Relief Everywhere (CAR E) attempted to negotiate the conflict process by re establishing the rights of access to and use of key biodiversity products and services by resource users living around the PA and asking them about which resources they