How many different estimating techniques are discussed in the case below?
Story: Barbara just received the good news: She was assigned as the project manager for a project that her company won as part of competitive bidding. Whenever a request for proposal (RFP) comes into Barbara’s company, a committee composed mainly of senior managers reviews the RFP. If the decision is made to bid on the job, the RFP is turned over to the Proposal Department. Part of the Proposal Department is an estimating group that is responsible for estimating all work. If the estimating group has no previous history concerning some of the deliverables or work packages and is unsure about the time and cost for the work, the estimating team will then ask the functional managers for assistance with estimating.
Project managers like Barbara do not often participate in the bidding process. Usually, their first knowledge about the project comes after the contract is awarded to their company and they are assigned as the project manager. Some project managers are highly optimistic and trust the estimates that were submitted in the bid implicitly unless, of course, a significant span of time has elapsed between the date of submittal of the proposal and the final contract award date. Barbara, however, is somewhat pessimistic. She believes that accepting the estimates as they were submitted in the proposal is like playing Russian roulette. As such, Barbara prefers to review the estimates.
One of the most critical work packages in the project was estimated at twelve weeks using one grade 7 employee full time. Barbara had performed this task on previous projects and it required one person full time for fourteen weeks. Barbara asked the estimating group how they arrived at this estimate. The estimating group responded that they used the three-point estimate where the optimistic time was four weeks, the most likely time was thirteen weeks, and the pessimistic time was sixteen weeks.
Barbara believed that the three-point estimate was way off of the mark. The only way that this work package could ever be completed in four weeks would be for a very small project nowhere near the complexity of Barbara’s project. Therefore, the estimating group was not considering any complexity factors when using the three-point estimate. Had the estimating group used the triangular distribution where each of the three estimates had an equal likelihood of occurrence, the final estimate would have been thirteen weeks. This was closer to the fourteen weeks that Barbara thought the work package would take. While a difference of 1 week seems small, it could have a serious impact on Barbara’s project and incur penalties for late delivery.
Barbara was now still confused and decided to talk to Peter, the employee who was assigned to do this task. Barbara had worked with Peter on previous projects. Peter was a grade 9 employee and considered to be an expert in this work package. As part of the discussions with Barbara, Peter made the following comments:
I have seen estimating data bases that include this type of work package and they all estimate the work package at about 14 weeks. I do not understand why our estimating group prefers to use the three-point estimate.
"Does the typical data base account for project complexity when considering the estimates?" asked Barbara. Peter responded:
Some data bases have techniques for considering complexity, but mostly they just assume an average complexity level. When complexity is important, as it is in our project, analogy estimating would be better. Using analogy estimating and comparing the complexity of the work package on this project to the similar works packages I have completed, I would say that 16–17 weeks is closer to reality, and let’s hope I do not get removed from the project to put out a fire somewhere else in the company. That would be terrible. It is impossible for me to get it done in 12 weeks. And adding more people to this work package will not shorten the schedule. It may even make it worse.
Barbara then asked Peter one more question:
Peter, you are a grade 9 and considered as the subject matter expert. If a grade 7 had been assigned, as the estimating group had said, how long would it have taken the grade 7 to do the job?
"Probably about 20 weeks or so," responded Peter.
Answers
Barbara has just learned some excellent news She has been chosen to serve as the project manager for a job that her business won after engaging in a competitive bidding process and RFP.
Thus, Every time a request for proposals (RFP) is received by Barbara's organization, it is reviewed by a committee made up primarily of top management.
The RFP is given to the Proposal Department if it is decided to invite bids for the project. An estimating team that is a part of the proposal department is in charge of estimating all tasks and Barbara.
The estimating team will seek the functional managers for assistance with estimating if it has no prior experience with certain of the deliverables or work packages and is unsure about the time and cost for the task and Barbara.
Thus, Barbara has just learned some excellent news She has been chosen to serve as the project manager for a job that her business won after engaging in a competitive bidding process and RFP.
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Related Questions
Which TCF checking account fee is the most expensive?
Answers
Answer:
Explanation: it’s o stop payment fee
How does the velocity of money affect a national economy?.
Answers
Answer:
when the velocity of money is high, it means each dollar is moving fast to purchase goods and services. It reflects high demand,which generates more production. When the velocity is low, each dollar is not being used very often to buy things.
Max is using a search engine to do research on trends in his industry when he comes across a website that isn’t necessarily related to his research–but is interesting and engaging. Without realizing it, Max spends over an hour browsing through the webpage’s numerous articles and links. When his boss asks him if his research report will be ready by the end of the day, Max isn’t sure how to respond. He’s hardly done any work–but it’s not like he was purposely avoiding work. He was using the search engine for the purpose of research, after all. It’s not his fault that the search results weren’t very relevant. Max is considering asking his boss for an extension on his deadline so that he can spend more time researching. What do you think? What should Max do?
Answers
In this situation, Max has to first give his boss some advance notice that he wont be able to complete the report before deadline, explain himself briefly as to why that is, then ask for more time to be able to complete the task.
What is a deadline?A deadline indicates that a task or project is anticipated to be finished by that date and time. There is a clear expectation of what must be provided and by when thanks to deadlines. Employees are able to take charge of their work in this way and include deadlines into their time management techniques.
It's critical to schedule deadlines in advance because your work may be delayed. Recognize that some resources might be delayed and that some people might not be available. You may prevent the disaster of missing a deadline by making plans in advance.
Deadlines are crucial in business for a variety of reasons. They establish standards and encourage productive behavior in the workplace.
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Suppose Phil and Miss Kay are the only consumers in the market. If the price is $6, then the market quantity demanded is
Answers
The number of units that the market wants is two.
Market quantity demanded is the amount of a specific good that customers have placed on the market and is inversely correlated with the cost of the good.
Given that the quantity of the commodity desired is inversely correlated with the price of the commodity, it follows that as the price of the commodity rises, the quantity of the commodity will decrease. The graph of this is negatively sloped as a result.
The only shoppers at the store are Phil and Miss Kay. Therefore, 2 units are needed to meet market demand.
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The economy of the United States is BEST described as
A. noncompetitive
B. socialistic
C. government-owned
D. market-based
E. not-for-profit
Answers
B. Socialistic
Answer:
i believe the answer is b
Explanation:
because the us economy is best described as mixed ( capitalism & socialism) so i think its b
FILL IN THE BLANK. Economics based on ___ ___ principles, businesspeople became the wealthiest people in societ
Answers
An economy based on free market principles has made businessmen the richest. An economy based on free market principles has made businessmen the richest people in society. Goods and what employees pay for.
These decisions in a free market economy are influenced by competitive, supply and demand pressures. In economics, a free market is an economic system in which the prices of goods and services are determined by the supply and demand of sellers and buyers. A free market is an unregulated system of economic exchange in which taxes, quality controls, quotas, tariffs, and other forms of centralized economic intervention by the state are absent or minimized. Private entrepreneurs are free to acquire and use resources and use them to produce goods and services. They are free to sell these goods and services in their chosen market.
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Match the following terms and their definitions. Some terms will not be used.
Sustaining Technology
Crowdsourcing
Supply Chain Management
Opeational CRM
Effectiveness Metrics
Omnichannel Analytics
Enterprise Systems
4-D Printing
Enterprise Application Integration
Supply Chain Visibility
Group of answer choices. Additive manufacturing that prints objects capable of transformation and self-assembly
Connects the plans, methods, and tools aimed at integrating separate enterprise systems; considers how legacy systems fit into business processes
Supports traditional transactional processing for day-to-day front-office operations or systems that deal directly with the customers such as list generators, campaign management systems, cross-selling and up-selling, customer service and support, contact centers, sales force automation, web-based self-service, call-scripting and campaign, sales, contact, and opportunity management
The management of information flows between and among activities in a supply chain (which involves all parties directly or indirectly in obtaining raw materials or a product) to maximize total supply chain effectiveness and corporateprofitability; involves procurement supported by 3D printing supports), logistics (such as distribution) supported by drones and Radio Frequency Identification or RFID; and materials management which is supported by robotics
Refers to the wisdom of large groups of people and is the most common form of collective intelligence found outside the organization
Include clickstream data measurements, which measures the exact pattern of a consumer’s navigation through a website, and interactivity measurements, which measures advertising effectiveness by counting visitor interactions with the target ad (like time spent viewing the add, number of pages viewed, and number of repeat visits to the ad) . Produces an improved product (a better, faster, or cheaper product) that customers are eager to buy; typically occurs in an established market with incumbent companies leading the way
Answers
Sustaining Technology: Produces an improved product (a better, faster, or cheaper product) that customers are eager to buy; typically occurs in an established market with incumbent companies leading the way.
Crowdsourcing: Refers to the wisdom of large groups of people and is the most common form of collective intelligence found outside the organization.
upply Chain Management: The management of information flows between and among activities in a supply chain (which involves all parties directly or indirectly in obtaining raw materials or a product) to maximize total supply chain effectiveness and corporate profitability. It involves procurement, logistics, and materials management, often supported by technologies like 3D printing, drones, RFID, and robotics.
Operational CRM: Supports traditional transactional processing for day-to-day front-office operations or systems that deal directly with customers. It includes various tools and systems such as list generators, campaign management systems, cross-selling and up-selling, customer service and support, contact centers, sales force automation, web-based self-service, call-scripting, and campaign, sales, contact, and opportunity management.
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Malick has a videoconference with two
coworkers this afternoon and is trying to
position his camera for the best results.
Which of these would provide the BEST
background?
Answers
When there is a videoconference, the one that would provide the best background is a blank wall with a plant and some books on a shelf. Hence, Option A is correct.
What is a video conference?Through the use of video conferencing technology, remote employees can communicate. The technology allows two or more people who are dispersed across several locations to have live audio and video connections.
A style of teleconference in which there are more than two participants and who use a computer, smartphone, etc. to send and receive both audio and video data.
Therefore, Option A is correct.
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What happens when a perfectly competitive firm increases output?
Answers
When a perfectly competitive firm increases output, it affects the price and quantity of the product in the market.
First, let's define a perfectly competitive firm. A perfectly competitive firm is a firm that operates in a market with many sellers, each selling an identical product, and where there are no barriers to entry or exit.
If a perfectly competitive firm increases its output, it will increase the supply of the product in the market. This increase in supply will lead to a decrease in the price of the product. The decrease in price will then lead to an increase in the quantity demanded of the product.
In the short run, the firm may be able to increase its profits by increasing its output. However, in the long run, other firms in the market will also increase their output in response to the lower price, leading to a decrease in profits for all firms.
Therefore, when a perfectly competitive firm increases output, it affects the price and quantity of the product in the market, and may lead to short-term profits but long-term decreases in profits for all firms in the market.
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the expected return on hilo stock is 15.25 percent while the expected return on the market is 13.7 percent. the beta of hilo is 1.45. what is the risk-free rate of return?
Answers
The risk-free rate is 10.26%.
Calculation of the risk-free rate (rf):
Formula,
Expected return = Risk-free rate + Beta x (Market expected return - Risk-free rate)
Solve for rf:
15.25% = rf + 1.45 x (13.70% - rf)
15.25% = rf + 19.865% - 1.45rf
0.45rf = 19.865% - 15.25%
rf = 4.615% / 0.45
rf = 10.26% (Answer)
So, the risk-free rate is 10.26%.
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Are
the following statements TRUE or FALSE?
1 Taxes can be designed both to discourage and to encourage spending. 2 The same amount of money can be taxed more than once. 3 Progressive taxes may discourage people from working extra hours. 4 Sale
Answers
1. True, 2. True, 3. True, 4. False. Taxes can be used as a tool to influence consumer behavior. Double taxation occurs when the same income or asset is subject to taxation multiple times.
1. Taxes can be designed both to discourage and to encourage spending: This statement is true. For example, governments may impose higher taxes on luxury goods to discourage their consumption, while offering tax incentives or exemptions on essential items to encourage spending in certain areas.
2. The same amount of money can be taxed more than once: This statement is true. For example, individuals may pay income tax on their earnings, and then if they invest those earnings progressive tax and earn dividends, they may be subject to additional taxes on those dividends.
3. Progressive taxes may discourage people from working extra hours: This statement is true. Progressive taxes impose higher tax rates on higher income levels. As individuals earn more, they face higher tax rates, which can reduce the incentive to work additional hours or earn more income due to the higher tax burden.
4. All incomes pay the same percentage of their income toward the tax, making it a fair tax: This statement is false. If all incomes pay the same percentage of their income toward taxes, it is known as a flat tax. However, a flat tax system is not considered fair by all as it does not take into account the ability to pay. Progressive tax systems, where higher incomes are taxed at higher rates, are often seen as a fairer approach as they consider income disparities and ability to pay.
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The Complete question is
Are the following statements TRUE or FALSE?
1 .Taxes can be designed both to discourage and to encourage spending. 2 .The same amount of money can be taxed more than once. 3. Progressive taxes may discourage people from working extra hours. 4. Sale all incomes pay the same percentage of their income toward the tax, making it a fair tax
I don't have moey. What is the best job to get when you're in middle school?
Answers
Answer:
You can work at publix as a cashier. They acept 14 year olds. And ur in 8th grade as 14 which is in middle school.
Explanation:
This is the best job u can get as a kid
also brainlist me pls
highest rate offered on a certificate of deposit from a bank
Answers
Marcus by Goldman Sachs: $500 minimum opening deposit; 6 months to 6 years; 3.70% - 4.75% annual percentage yield. Capital One: No minimum deposit is required to open, terms of 6 months to 5 years, 3.30% APY to 4.30% APY. Synchrony Bank: No minimum deposit is required to open, terms of 3 months to 5 years, 2.25% APY to 4.60% APY.
How Many CD Terms Exist?You'll note that many banks and credit unions offer certificates of deposit (CDs) in a wide range of terms and maturities while you're shopping for one. There is a lot of diversity among suppliers in terms of the conditions and interest rates that they can establish. But some term durations have essentially become the norm. We'll examine the most typical CD terms in this post and demonstrate how to build a CD ladder with staggered-term CDs to protect yourself against interest rate changes.
There are several terms and maturities available for certificates of deposit (CDs).
For example, banks and credit unions are allowed to determine their own CD conditions. Some of the most popular CD periods are three months, six months, one year, two years, three years, and five years.
If you want to protect yourself against interest rate changes and have access to some of your money each year, think about creating a CD ladder.
Understanding CD Terminology
When you purchase a CD, you consent to retain your funds in it for the CD's term, which is the period of time specified in the CD. In return, you will get a set interest rate from the bank or credit union that offers your CD; this rate is generally greater than the interest rate on other kinds of savings accounts. The drawback is that your money isn't liquid.
In most cases, there are severe penalties if you need to remove it before the CD's term expires.
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the chinese program that allows foreign investment into china and help it build its modern industries is called the
Answers
The Chinese program that allows foreign investment into China and helps it build its modern industries is called the "Special Economic Zones" (SEZs).
These zones were established to encourage foreign investment and promote economic growth by providing various incentives such as tax breaks and reduced regulations for businesses operating within the zones. The primary objective of SEZs is to create favorable conditions for foreign investors and encourage the transfer of advanced technology, knowledge, and management expertise into China. These zones offer a range of incentives and preferential policies to attract businesses, such as tax breaks, streamlined administrative procedures, and relaxed regulations compared to the rest of the country.
SEZs have played a crucial role in the rapid economic growth and industrialization of China. They serve as experimental grounds for testing new economic policies, allowing the government to gradually introduce reforms while minimizing risks. The zones also act as hubs for export-oriented industries, manufacturing, and innovation, driving foreign direct investment and contributing to the overall economic development of the country.
By providing a business-friendly environment, SEZs have attracted multinational corporations, foreign enterprises, and domestic companies looking to take advantage of the incentives and opportunities presented. These zones have facilitated the integration of China into the global economy and have been instrumental in upgrading the country's industries, technology, and infrastructure.
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True or False: Your payroll office will calculate and deduct your taxes from your gross pay for each pay period.
Answers
Answer:
true
Explanation:
if you get a physical check, you can see where these garbage taxes go to, lol. its a complete scam if you ask me.
Answer: Answer is true
Explanation:
Write a short paragraph explaining the difference between the fastest growth and largest growth industries from a numerical perspective. Be sure to address percentage of growth vs. number of jobs.
Answers
Answer:
The table below lists the fastest growth industries based on projection information for the year 2018. Selecting a career that is growing rapidly is a good idea. These industries are obviously expected to remain strong, and jobs within these industries will be in demand. Each of the twenty industries included in this table are rapid-growth industries. This is not an all-inclusive list of rapidly growing industries; it is merely the top twenty. The list is organized by annual percentage of growth projected and not in order by the industry that is expected to employ the largest number of people. As you look at the data, do you notice several of the industries fit into the Health Science, Information Technology, and Science, Technology, Engineering & Mathematics Career Clusters?
If this isn't the answer to your question i'm sorry I tried my best
Answer:
Choosing a career that is rapidly growing is a good idea because these industries are expected to continue to grow and stay at the top. The largest growth industry will increase a little then decrease by a lot. It starts off with 1,009,000 then grows to 1,850,000 the in between difference is around 855,000.
Explanation:
Thomas company uses a standard cost system and recognizes the materials purchase price variance at the time materials are purchased. information for raw materials for product rbi for the month of october follows: standard unit price $1.80 actual purchase price per unit $1.65 actual quantity purchased 4,000 units actual quantity used 3,900 units standard quantity allowed for actual production 3,800 units what is the materials purchase price variance?
Answers
Answer: $600F
Explanation:
Given the following :
standard unit price - $1.80
actual purchase price per unit - $1.65
actual quantity purchased - 4,000
units actual quantity used - 3,900
units standard quantity allowed for actual production - 3,800 units
Material purchase price variance = ( Actual unit price of material - standard unit price of material) × Actual unit of material purchased
($1.65 - $1.80) × 4000
( $0.15) × 4000
$600F (Favorable) because standard price is higher than actual price
Jim and Jane purchased their house a year ago and have been transferred out of town. They paid $275,000 for the property and ended up after expenses with only $225,000. Their percentage of loss on the sale was:
Answers
Answer:
18%
Explanation:
Original cost: $275,000
Selling price: $225,000
Loss: $50,000
50,000/275,000=0.18
0.18x100=18%
:)
Question 27 pts OSHA, the Occupational Safety and Health Administration, has notified you that your company is legally required to install safety rails around the large vats of chemicals in your factory. You need to follow their order so that you are: Group of answer choices in compliance. licensed. insured. contracted.
Answers
Designing a sales presentation for a new product line is an example of which of these?Multiple Choicemarketing planmarketing tacticbusiness planmarketing strategyobjective
Answers
Designing a sales presentation for a new product line is an example of marketing tactic.
By sales, what did you mean?A sale is a transaction that involves exchanging products or services for a specific sum of money. To put it another way, a sale is any action that involves giving the buyer possession of a thing or commodity in return for payment.
What is a business sale?An transaction of money for products, services, or other property is referred to as a sale. Net sales, as used in accounting, relate to the operating income that a business generates through the sale of its goods or services.
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Indicate whether the following statement is true or
false:
The classification inventory includes consumable inventory which
are consumed in the normal business activities.
Select one:
True
False
Answers
True. The classification of inventory includes consumable inventory that is consumed during normal business activities.
Consumable inventory refers to items or materials that are used up or depleted in the production process or in providing services. These items are not intended for resale but rather for internal use within the business. Examples of consumable inventory include office supplies, cleaning supplies, fuel, raw materials used in manufacturing, and spare parts used for maintenance and repairs. These items are typically expensed as they are consumed and do not remain as part of the inventory for sale.
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For each of the roles below, write a paragraph or two supporting or opposing a tariff that is being considered to tax imported fruit. Each response should contain the following:
-What your position is
-Why you support this position
-Why others would agree with your position
-How the consumers, producers, and government will be affected by this tariff.
1. You are a farmer, growing mangoes in California. Due to a recent drought, your crop has been particularly bad this year. The Chilean mango crop, on the other hand, is particularly good this year.
2. You are the proprietor of a restaurant that specializes in tropical cuisine. You use mangoes and other tropical fruits in many of your dishes. Since the competition in the restaurant industry is stiff, you’re always competing to stay in business.
Answers
Answer:
1. You are a farmer, growing mangoes in California. Due to a recent drought, your crop has been particularly bad this year. The Chilean mango crop, on the other hand, is particularly good this year.
As a farmer I would support high import tariffs in order to increase the price of imported mangoes. If the world price of mangoes is very high, then I will be able to charge a higher price for my own production.
Since this was a very bad year for domestic mangoes, a very high price would allow me to recover some of the losses and stay in business. Several families are directly and indirectly affected by whether my business continues or not. I have employees and suppliers that would be negatively affected if I have to close my farm.
By increasing import tariffs, the government will earn higher taxes for every mango imported. The government also has the duty to protect local businesses.
2. You are the proprietor of a restaurant that specializes in tropical cuisine. You use mangoes and other tropical fruits in many of your dishes. Since the competition in the restaurant industry is stiff, you’re always competing to stay in business.
I oppose import tariffs, and if possible they should be eliminated. Import tariffs increase the price of goods, both domestic and imported, increasing my production costs and reducing my income.
Even though import tariffs might help a small amount of local businesses, it hurts society as a whole. Customers have to pay higher prices for mangoes, or any type of product, that should be purchased at much lower prices. The economic loss resulting from import tariffs and negatively affecting consumers and other businesses offsets by far any economic benefit generated by them. If such actions are taken, the domestic mango industry will be unfairly treated just like the sugar industry and a few others that hurt the entire economy and benefit only a few.
The government has the duty to do what is best for its citizens and businesses, and it cannot help a handful of businesses by hurting a very large group of other businesses and consumers. Government revenue will also decrease since steep tariffs will prevent any mangoes from being imported, reducing government revenue to zero.
Sparks Corporation uses a predetermined overhead application rate of $.30 per direct labor hour. During the year it incurred $345,000 dollars of actual overhead, but it planned to incur $360,000 of overhead. The company applied $363,000 of overhead during the year. How many direct labor hours did the company plan to incur
Answers
The number of direct labor hours the company planned to incur is 400,000 hours.
Predetermined overhead application rate = $0.30 per direct labor hour
Actual overhead incurred = $345,000 dollars
Overhead planned to be incurred = $360,000
Overhead applied during the year = $363,000
Let the number of direct labor hours Sparks Corporation planned to incur be 'x'.
Therefore, overhead planned per direct labor hour = $360,000/x
Overhead applied per direct labor hour = $0.30
Therefore, using the formula for overhead application, we can write:
Overhead applied = Overhead rate × Direct labor hours
or$363,000 = $0.30 × DLDL
= $363,000/$0.30
= 1,210,000/3
Thus, DL = 403,333.3333 hours
x = $360,000/$0.30
= 1,200,000/3
= 4,00000
Hence, the number of direct labor hours the company planned to incur 400,000 hours.
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A company purchases a piece of machinery. This machinery is now the company's _____.
A. asset
B. liability
c. equity
D. capital
Answers
When a company purchases a piece of machinery, the machinery becomes the company's A. asset.
What is an asset?An asset is a resource owned or controlled by a business or an economic entity, which produces value or more resources.
Assets can be classified into three classes, and they generally fall into the following categories:
CurrentNon-currentPhysicalIntangibleOperatingNon-operating.Thus, the machinery does not become a liability, equity, or capital but an asset.
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In most manufacturing companies, the inventory and warehousing cycle begins with:
a. Receiving raw materials
b. Production process
c. Packaging finished products
d. Shipping finished products
Answers
The correct option is a. The inventory and warehousing cycle in most manufacturing companies typically begins with receiving raw materials.
Manufacturing companies are companies that transform raw materials into finished goods. The first step in any manufacturing process is to obtain raw materials from suppliers. When the raw materials arrive, they must be inspected to ensure that they meet the company's quality standards and that the quantities received match those ordered. After the raw materials have been accepted, the manufacturing process begins. Manufacturing processes typically include multiple stages, each of which transforms the raw materials into a more finished form.
This can involve processes such as cutting, shaping, molding, or assembly. When the finished products are completed, they must be packaged. Packaging serves several purposes, including protecting the products during transport, providing a way to identify the products, and making the products more appealing to consumers. After packaging, the finished products are sent to the warehouse for storage. Finally, when orders are received, the finished products are shipped to customers.
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What are some well paying animal related jobs that don't require lots of school?
Answers
Answer:
groomer, kennel attendant, veterinary assistant, trainer, Animal Control worker.
Explanation:
these are all examples of high paying animal related jobs that do not require less of school, though depending on the facility, they may require schooling.
Assume that electricity production has been done by several regional firms in the U.S. each operating as a pure monopoly.
Explain and graphically illustrate how the electrical monopolist would determine its profit maximizing price and output level. (Label Pm and Qm)
Identify any area of consumer and/or producer surplus for the profit maximizing monopoly.
Identify the deadweight loss for the monopolist.
Now assume the federal government imposes a regulation on the monopoly. Draw a new monopoly graph for part 2.
Show and explain how the regulated electrical monopolist would determine its profit-maximizing price and output level. (Label Pr and Qr)
Identify any area of consumer surplus and/or producer surplus for the profit maximizing monopoly.
Now the federal government decides to deregulate the market for electricity nationwide. Draw a new monopoly graph for part 3.
Show and explain how deregulation will impact price and output in the now perfectly competitive market for electricity production. (Hint: You should use a monopoly graph to show where the perfectly competitor would set price and quantity.) (Label Ppc and Qpc)
Answers
Profit Maximizing Monopoly:
As a pure monopoly, the electrical firm has market power, which means it can set its own price and output level. The firm will aim to maximize its profits by producing the quantity of electricity where marginal revenue (MR) equals marginal cost (MC). The price that the firm charges will be determined by the demand curve, which is downward sloping. The profit-maximizing price (Pm) will be higher than the marginal cost (MC) of producing the electricity. The output level (Qm) will be lower than the socially efficient output level, which is where marginal cost equals marginal benefit (MB). This results in a deadweight loss to society, which represents the loss of consumer and producer surplus.
Regulated Monopoly:
If the government regulates the electrical monopoly, it may impose price controls or quantity restrictions that limit the firm's market power. The regulated firm will aim to maximize its profits subject to the regulatory constraints. The profit-maximizing price (Pr) and output level (Qr) will be lower than the unregulated monopoly, but higher than the socially efficient level. This results in a smaller deadweight loss, but still represents a loss to society.
Perfectly Competitive Market:
If the market is deregulated and becomes perfectly competitive, the electrical firms will be price takers, meaning they have no market power. The price will be determined by the intersection of the market demand and supply curves, and the output level will be where the marginal cost equals the market price. The price (Ppc) and output level (Qpc) will be lower than the regulated monopoly and closer to the socially efficient level. There will be no deadweight loss, and the consumer and producer surplus will be maximized.
Profit Maximizing Monopoly:
^
|
Pm | Demand
| Curve
|
|
|
|------------------- MC
| Qm
|
|
Regulated Monopoly:
^
|
Pr | Demand
Regulated Curve
| /
| /
| /
|-----------/--- MC
| Qr
|
Perfectly Competitive Market:
^
|
Ppc | Demand
| Curve
| /
| /
| /
|-----------/--- Supply
| Qpc
|
1. Juanita worked for several years in her uncle's auto repair shop. She learned how to do all types of repairs. She enjoys getting out and meeting new people. She doesn't like sitting at a desk and working all day on the computer. Her math skills are good, but she did not take any math classes as part of her two-year associate's degree. She is good with people and good in a crisis. She is also detail oriented. Which insurance career listed above would probably be a good fit for Juanita? Why? (8 points)
Answers
Answer:
she'll be an claim adjuster/investigator she works at repair shop so she can investigate it and see what insurance they need
Explanation:
The insurance career that would probably be a good fit for Juanita based on her math skills would be a Claims Adjuster.
Who are Claim Adjusters ?Claims adjusters are responsible for investigating and resolving insurance claims. They typically work for insurance companies, but they may also work for independent adjusting firms.
Claims adjusters need to be good with people and be able to handle difficult situations. They also need to be detail-oriented and have good math skills. Juanita's experience working in her uncle's auto repair shop would give her a good foundation for this career. She would also be able to use her math skills to calculate estimates and settlements.
Find out more on insurance careers at https://brainly.com/question/19619231
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Which of the following statements is true?
A. The World Trade Organization tries to determine who to blame in
trade disputes.
B. The World Trade Organization is only concerned with trade among
industrialized countries.
C. The World Trade Organization tries to improve trading prospects
for developing countries.
D. The World Trade Organization eventually resolves all trade
disputes successfully
SUBMIT
Answers
Answer:
C. The World Trade Organization tries to improve trading prospects
The World Trade Organization tries to improve trading prospects out of the following statements is true. The correct option is C. When countries agree to open their markets for products or services in the WTO, their commitments are "bound."
What value does the WTO bring to developing countries?The WTO accords contain various provisions that grant developing and least-developed countries unique rights or extra leniency – "special and differential treatment." Among these are provisions that allow developed countries to treat developing countries more favorably than other WTO members.
The World Trade Organization runs the global trade rules system and assists developing countries in increasing their trade capability. It also provides a venue for its members to negotiate trade agreements and resolve trade disputes with one another.
Thus, the ideal selection is option C.
Learn more about The World Trade Organization here:
https://brainly.com/question/13650479
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I’m not sure what the answer is.
Answers
Answer:
I think revenue
Explanation:
the Answer is B I'm for sure