Economics: The MidNight Hour, a local nightclub

1. The MidNight Hour, a local nightclub, earned $100,000 in accounting profit last year. This year the owner, who had invested $1 million in the club, decided to close the club. What can you say about economic profit (and the rate of return)in the nightclub business?

2. Redstone Clayworks, Inc., a small firm located in Sedona, manufactures clay fire pits
that homeowners place on their patios for decoration and light-duty heating. Red-
stone is one of 53 firms worldwide supplying clay fire pits to retailers such as Home
Depot, Lowe’s, Front Gate, and other upscale home product chains. Despite the best
marketing efforts of these retailers to differentiate their individual brands of fire pits,
consumers don’t care much about brands: A clay fire pit is a clay fire pit, regardless of who sells it. The following spreadsheet below provides data on Redstone’s costs of production.
(1) (2) (3) (4)
Q TC TFC TVC
0 5,000 5,000 0
100 10,000 5,000 5,000
200 19,000 5,000 14,000
300 27,000 5,000 22,000
400 38,000 5,000 33,000
500 50,000 5,000 45,000
600 66,000 5,000 61,000
700 84,000 5,000 79,000
800 104,000 5,000 99,000
900 126,000 5,000 121,000
1,000 150,000 5,000 145,000

a. Create a spreadsheet that matches the one above by entering the output and cost data given above. Then use the appropriate formulas to create four new columns in your spreadsheet for average fixed cost ( AFC ), average variable cost ( AVC ), average total cost ( ATC ), and short-run marginal cost ( SMC ). [Computation check: At Q 5 400, SMC 5 $110].
The world demand and supply curves for clay fire pits intersect at $190 per unit.

b. Use the appropriate formulas to create two more columns in your spreadsheet for
total revenue ( TR ) and marginal revenue ( MR ). [Computation check: At Q 5 400:
MR 5 $190].
c. Use the appropriate formulas to create three more columns in your spreadsheet for
profit ( PROF ), average profit ( AVGPROF ), and profit margin ( PROFMARG ). [Com-
putation check: At Q 5 400: AVGPROF 5 $95].
d. If Redstone’s manager wishes to minimize average total cost, how many clay fire
pits should be produced? How many to maximize profit margin?
e. Redstone’s manager is fired, and you are now the manager of Redstone Clayworks.
How many fire pits would you choose to produce? Why?
f. Now triple the total fixed costs to $15,000 in your spreadsheet. How does this
change your production decision in part e ? Explain briefly.
g. Suppose a congressional environmental panel announces that greenhouse gases
from clay fire pits are contributing significantly to global warming. The announce-
ment causes worldwide demand for fire pits to shrink substantially, and clay fire pit
prices fall to $65 per unit. How does this change your production decision in part e ?
Explain briefly. [Note: Return total fixed cost to the original level of $5,000.]

7. At a recent board meeting, the president and CEO got into a heated argument about whether to shut down the firm’s plant in Miami. The Miami plant currently loses $60,000 monthly. The president of the firm argued that the Miami plant should continue to operate, at least until a buyer is found for the production facility. The president’s argument was based on the fact that the Miami plant’s fixed costs are $68,000 per month. The CEO exploded over this point, castigating the president for considering fixed costs in making the shutdown decision. According to the CEO, “Everyone knows fixed cost don’t matter!”
a) Should the Miami plant be closed or continue to operate at a loss in short run?
b) How would you explain to the incorrect party that he or she is wrong?

Chapter 12
3. The El Dorado Star is the only newspaper in El Dorado, New Mexico. Certainly, the Star competes with The Wall Street Journal, USA Today, and the New York Times, for nation news reporting, but the Star offer readers stories of local interest, such as local new, and cost schedules shown in the spreadsheet that follows:
Number of
news papers Total cost per day
per day (Q) Price(P) (TC)
0 0 $ 2,000
1,000 $1.50 2,100
2,000 1.25 2,200
3,000 1.00 2,360
4,000 .85 2,520
5,000 .75 2,700
6,000 .65 2,890
7,000 .50 3,090
8,000 .35 3,310
9,000 .10 3,550

a. Create a spreadsheet that matches the one above by entering the output, price, and cost data given?
b. Use the appropriate formulas to create three new columns (4,5,and 6) in your spreadsheet for total revenue, marginal revenue (MR), and marginal cost (MC), respectively. [Computation check: at Q = 3,000, MR = $0.50 and MC = $0.16]. What price should the manager of the El Dorando Star charge? How many papers should be sold daily to maximize profit?
c. At the price and output level output you answered in part b, is the El Dorado Star making the greatest possible amount of total revenue? Is this what you expected? Explain why or why not.
d. Use the appropriate formulas to create two new columns (7 and 8) for total profit and profit margin, respectively. What is the maximum profit the El Dorado Star can earn? What is the maximum possible profit margin? Are profit and profit margin maximized at the same point on demand?
e. What is the total fixed cost for the El Dorado Star? Create a new spreadsheet in which total fixed cost increases to $5,000. What price should the manager charge? How many papers should be sold in the short run? What should the owners of the Star do n the long run?
10. The Ali Baba Co. is the only supplier of a partucalr type of Oriental carpet. The estimated demand for its carpet is
Q=112,000-500P+5M
where Q= number of carpets, P= price of carpets (dollars per unit), and M=consumers income per capita. The estimated average variable cost function for Ali Babas carpet is
AVC+200-0.012Q+0.000002Q2 (squared)
Consumers income per capita is expected to be 20,000 and total fixed cost is 100,000.
a. How many capers should the firm produce in order to maximize profit?
b. What is the profit maximizing price of carpets?
c. What is the maximum amount of profit that the firm can earn selling carpets?
d. answer parts a-c if the consumers income per captia is expiated to be 30,000 instead.

11. Dr. Leona Williams, a well-known plastic surgeon, has a reputation for being one of the best surgeons for reconstructive nose surgery. Dr. Williams enjoys a rather substantial degree of market power in this market. She has estimated demand for her work to be Q=480-0.2P, where Q is the number of nose operations performed monthly and P is the price of a nose operation.

a. What is the inverse demand function for Dr. William’s services?
b. What is the marginal revenue function?

The average variable cost function for reconstructive nose surgery is estimated to be

AVC=2Q (squared) – 15Q + 400, where AVC is average variable cost (measured in dollars), and Q is the number of operations per month. The doctor’s fixed costs each month at $8,000.

c. If the doctor wishes to maximize her profit, how many nose operations should she perform each month.

d. what price should she charge to perform a nose operation?
e. how much profit does she earn each month?

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Drug Addiction: Whenever you use ideas or knowledge obtained from any source other than your own mind, or our lecture

For all writing assignments: Citations and references are required whenever you use ideas or knowledge obtained from any source other than your own mind, or our lecture. Citations and their references must always follow APA format. Always strive to cite your sources clearly in the body of your paper. Include a separate References page, AND ALWAYS ATTACH A HIGHLIGHTED PHOTOCOPY of the actual material you used (even if it is from our textbook). For the purposes of this class you may NEVER DIRECTLY QUOTE (never use the actual words of) ANY SOURCE. Put everything in your own original words and thoughts. Integrate their ideas into your thoughts and writing, and cite your sources throughout your papers.
Plagiarism is the use of someone else’s IDEAS OR WORDS without giving proper credit. It is cheating. Plagiarism, or any other form of cheating on any test or assignment will result in immediate failure of the assignment, and thus, quite likely the course as well, and all penalties appropriate, including disciplinary action by TCC.

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Baseball and the Civil War

Use the book, The Unfinished Nation, A Conscise History of the American People, 7th edition, by Alan Brinkley.

Read the section of Baseball and the Civil War, pages 324-325

• Using historical analysis, describe what role baseball played in bridging cultural gaps.
• Apply your knowledge of baseball to other sports. What evidence is there to support sports as a cultural integrator?
• Evaluate the argument. How valid is the argument? Do sports bridge gaps between cultures and groups?
• Finally, create an argument of your own for another sport besides baseball being better at crossing cultures, and explain why your argument is better.

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Discuss the issue of homelessness: What are its causes?

Discuss the issue of homelessness. What are its causes? This could certainly be
tied in with contemporary issues of the ?Great Recession? and the Great Depression. Are
there or should there be any solutions society should provide that are consistent with the
American Dream?

Five pages is a minimum, but I
would look carefully at what you have to say and see if you couldn?t say more. Second, this
paper must be researched. You should use academically appropriate sources such as Academic
Search Premier. I won?t allow Wikipedia for this, use a professional encyclopedia like the
Britannica. I really like to see students who use books from the library. It says that you took
the time to do that and is a plus. Of course, it goes without saying that the books and sources
you do reference should be clearly used in the paper; it isn?t enough to just tack it on to the
bibliography and footnote. The research as well as our course texts that you use should be
referenced in a bibliography. A bibliography is mandatory for this paper. Note that the
bibliography is not part of the total pages of text, along with title pages and the like.

-Have a clear introductory paragraph where you tell the reader what your topic is and
what you are going to say
-Imagine a reader who may be familiar with some of the material. Don?t conjure me up.
-That means explaining the themes clearly; let the categories and subject position help
you with that.
-Avoid too many sweeping claims and keep to the topic you?ve chosen. The broader the
theme, the easier it is to be too general.
-Use quotes from the text to support what you are talking about. You don?t have to overquote;
e.g.: large block quotes. Give just enough to support what it is that you are saying.
Always reference quotes with endnotes or footnotes or the appropriate MLA reference.
-Avoid page length paragraphs. If you have those, it is an indication that you haven?t
kept your ideas separate; one paragraph, one idea.

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Minorities reading performance in Georgia

In this section, present your review of the literature. Read carefully to distinguish
between and understand causes and solutions. Your research project will proceed more clearly and
efficiently if you make this distinction at present. You should locate at least 20 research studies and/or
articles that discuss problems identical to or similar to yours. Search primarily for scholarly studies.
You may include additional sources such as newspapers, Web sites, and others. Cite sources in text,
and provide reference list entries in a section entitled “References” at the end of Chapter 2. Remember
that APA guidelines demand a reference list entry for each citation in text and vice versa.increasingly focused on problems identical or very similar to yours. Do not quote frequently. The
reader is interested in your words. Quote only when the original wording is exceptionally powerful.
Type the heading, “Causative Analysis,” and explain the causes of your specific problem. Examination
of your own evidence and careful review of the literature should enable you at this point to determine
the causes accurately. In this section, include discussion of only your problem. Because your focus is
on your participants in your work setting, you probably will not need to cite sources here.
Type the heading “Solutions.” Begin this section by repeating your problem statement exactly as you
stated it previously. Then briefly evaluate the solutions you have found. Provide a critique in which
you consider them from such perspectives as your power base, time, materials, staff, and other factors.
Consider which of these solutions would be feasible in your work setting, with your target group, your
resources, and your colleagues and administration.

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What do you think nursing is and how can there be an advancement of the nursing career?

Nursing is one career that has more than one definition. Scholars have yet to agree on a single definition. Some say that nursing is love.

In your opinion:

What do you think nursing is and how can there be an advancement of the nursing career?
What are some advantages of career advancement in nursing?
Do you think every nurse should have an advanced degree in the field?
If yes why and if no why not?

Read:

Amer: Chapter 11 – Quality Healthcare, Policy and Ethics

Quality and Safety for Transformational Nursing
Author Kim Amer
ISBN 978-0-13-272412-8
Publisher Prentice Hall PTR
Publication Date August 16, 2012
Binding Trade Cloth
Type Print

Becoming Influential
Author Eleanor J. Sullivan
ISBN 978-0-13-270668-1
Publisher Prentice Hall PTR
Publication Date January 19, 2012
Binding Trade Paper
Type Print

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The Yellow Wallpaper by Charlotte Perkins Gilman

1. Importance of setting – The events in the story are possible because of the story’s time period.
2. Symbolism of wallpaper & woman
3. How the change in style
4. Ending? – The ending could mark the narrator’s death or mental collapse.
5. Character study of John – John is a cold, controlling husband
6. Topic sentence of every paragraph
7. You have to use third person only throughout and Predominantly present tense
Literary Analysis Essay
I. Introduction can include: Examples Every paragraph 100 – 150 words name the title and author in the introduction somewhere
A. Brief Plot summary
B. Relate issues from literature to the reader
C. You can do a brief background on the author – optional
Thesis: John is not a villain or a hero but something in between –
II. Main Point = make debate on how people feel about John (examples: some of his actions main points with how to can prove this in the story: John keeping her locked up can be seen as positively or negatively motivated. (1), Proof A: = He may have her in the room to minimize her agitation. (Put in the Quote showing this, with internal citation and reference page) which is Gillman, 1892, page. #). Proof B. A bad reason he has her locked up in the room out of shame. (Give example of how he can be seen as ashamed).
Proof C: He puts her away because science dictates this treatment
III. Main Point two: Topic sentence (at beginning)
A. Proof 1
B. Proof 2
C. Proof 3

Background information on what the literature is about, a brief plot of what the story is all about, example: yellow wall paper is about a woman having postpartum depression over her child
Conclusion example: you can use Related issues in the literature to the reader or another option can be what you think what would be next for John, example if he saw her deceased how do you think he would feel. You can talk about how the course of the story could have been different, example if she was able to spend more time with her family it could have been prevented.
ABSTRACT:
Thesis: Main point 1 topic sentence. Main point 2 topic sentenced. Main point 3 topic sentence
This is on The Yellow Wallpaper : https://www.youtube.com/watch?v=-CrhnmKeGHc

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