In Class Assignment

7 04 2011

ACME Tools has hired you as a production consultant. They want you to analyze their production system and determine their best production point. Pick up your production details from the pickup folder, complete the spreadsheet and then answer the questions below. Remember to drop your spreadsheet off in the drop box.

  1. Pick up your excel spreadsheet from the pickup folder.  It will have your name and your assigned product in the file name.
  2. Complete the spreadsheet.
  3. Answer the questions, located here, based on your spreadsheet.
  4. Drop your spreadsheet into the drop-off folder.

You have until the end of class to complete the assignment.

Marginal Analysis with Answers

6 04 2011

Click here

Unit Two Test

6 04 2011

For this test, you will be required to answer one understanding question and one normative question.  There will be one other question not given in advance.

Understanding Questions

  1. Explain, using concepts covered in class, why gas prices have increased lately.
  2. Would you rather be a farmer or the owner of a restaurant?  Use concepts covered in this unit to support your decision.

Normative Statements

  1. The price that people pay for goods is fair.
  2. The best market structure for a company to operate in is an oligopoly.

Feel free to use the comments section of this post to discuss the questions prior to the test.


Types of Costs

4 04 2011

Accounting vs Economic Costs

Fixed Vs Variable Costs

Cost Structures Activity

3 04 2011

Use the attached spreadsheet to calculate the break-even and optimal production levels for each scenario.

Enter your answers into the google form. If you don’t finish in class you can complete the assignment at home. Just start a new form and only enter in the scenarios you didn’t finish in class.

If you don’t have excel at home, you can use the spreadsheet program in google docs.

Coffee Prices and Supply

10 03 2011

Colombia’s Coffee Crisis

Room for Debate Discussion

Considering the elasticity of the supply and demand of coffee, model the current situation.

Rise in food prices

7 03 2011

Cost of Factors of Production

Increase in cost of wheat and crude oil