Teenagers Life free essay sample

Life Teenager is the stage where the physical and mental condition of a person develops which occurs between childhood and adulthood. It starts at age 13 for boys and 12 in girls. In teenagers life, we must be more independence than before. It is the time of puberty too. During the teenage life, a person have some transformations. It involves physical, emotional, mental and psychological changes. The physical changes are changes in the body. Perhaps the most profound changes are linked to sexual maturation. It is during the teen years that the body grows into a sexually mature, and there are many different physical characteristics that develop as a result of this growth. And the emotional changes, they think like this: begin to realize that beliefs are the result of a thinking process, come to understand other people think too, and their own beliefs on a certain subject may differ from those of others, may understand others have different ideas about the same topics, yet they still do not understand that other people may think about different topics altogether. We will write a custom essay sample on Teenagers Life or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page That’s why people feel harder when they live in teenagers life. They’re labile and sometimes get confuse with themselves, and usually they get more problems than before. Because of the instability of teenagers, most of them can influenced easily with their around. It can be good habits, but usually, teenagers influenced with bad habits like consume drugs, alcohol, free association, spend money too much, excessive lifestyle, and hostility with each other because of scramble boyfriend / girlfriend. Teenagers have changed in comparison with the teens in the past, taking into account eating habits, an active way of life, spending free time and clothes. They are a â€Å"technology† generation. For teens in todays’ world mobile phones, internet, music, movies, television and video games are very important. Most teenagers prefer watching TV and playing computer games to reading books. Teens eat there unhealthy food. They eat too much fast food such as McDonald. As a teenager, we must be careful with our association. We must be smart to choose friends, and sort the good and bad habits. We can to imitate the good habits, but we have to avoid the bad habits. Teenager also have to remember, that a healthy lifestyle requires, but they also must not forget about personal hygiene. Keep eating healthy food, more diligent, study, and decrease the computer, internet, TV, and games time.

Sample Assignments - One Tool For Writing Essays

Sample Assignments - One Tool For Writing EssaysIf you are one of those people who usually write essays but never read them, do not worry. Today there are many different ways to tell stories that you find interesting and even you can use this technique to give some attention to the part where you present a hypothesis. The great thing about this approach is that, unlike a conventional essay, you will be able to include your thoughts freely and at the same time, leave your topics open for some other similar questions.With this sample, you would get an idea what you have been missing. The steps here are very simple and easy to follow. You just need to know how to analyze the situation and what do you have to say. I'm sure that you already know the part of your favorite movie that made you crazy. Here, I will explain the basics on how to complete this exercise.First of all, you should have an idea how you have been reading the sample. You can identify the story line and whether it would be useful for your essay or not. You can find the main ideas in the plot line and some facts about the theme. You can check on the characters, some kind of premise, plot twists and so on.Here, it is not necessary that you will be able to tell all the elements of the sample. Just make sure that you will have an idea on what you want to say. You may use the story as a guideline and start to think about the problems and the answers to the questions. From there, you can prepare some basic information and the problems that you want to solve. The result of the essay would be the concept, or perhaps the problem, if you have to add one.There are lots of sample assignments in magazines that you can read and use as a guide. The authors will provide you with some essential information that you have to know. The problem is that they will usually be repetitive. You can not guarantee that they will really be helpful but you can learn from them and make a step-by-step process.This strategy is like an essay except that you would be addressing a sample that you did not know anything about. The best approach is to give a synopsis of the part where you present a hypothesis. Even though the course may not require you to give a good summary, you may get a benefit of knowing the main points of the sample. This is a way to show that you are thinking about the subject and that you would like to incorporate this concept in your essay.To finish this article, it is very important that you know the importance of samples. You should have a lot of ideas about writing your own samples because the experts suggest you to do this. It is important that you also think about your future. Please consider all these aspects when you read the sample assignment.

Writing for Hobby and Leisure Activity Magazines

Writing for Hob When I began my freelance writing career in 2007, I would never have believed Id end up writing dozens of articles for hob My Ive found hob Leisure activity magazines exist in a mind-boggling plethora of topics; trains, quilting, motorcycles, automobiles, cats and dogs, dolls, scale modeling, yachting, cycling, running (and nearly every other sport imaginable), camping, hiking, video games, arts crafts, astronomy, military history, stamp collecting, coin collecting, rock gem collecting, antique collecting, and every other pastime imaginable. Next time youre at your local Barnes Noble or bookstore, thumb through the special interest and hob Where to Pitch Your Hob Leisure activities represent a huge market in first world countries. So, make sure you pitch your stories to magazines published in developed countries that have wealth and where the people have leisure time for pursuing hobbies such as North America, the U.K, Australia, New Zealand, South Africa. You Dont Have to Be an Expert Writers do not need to be experts about their hob Ive consulted or quoted experts in some hob My article in Garden Answers Magazine, about the Elandan Bonsai Gardens in Port Orchard, Washington, was a profile piece about Daniel Robinson, a bonsai expert who created this magical garden. How Do You Pitch Your Story Ideas to Hob Hob Create Pitch Lists Ive created extensive magazine distribution lists for every leisure activity genre that Ive written in. Once youve developed your magazine distribution lists, youve got them forever, so you dont need to reinvent the wheel every time you want to query a hob Writing for hob

Radon Chemical and Physical Properties

Radon Chemical and Physical Properties Atomic Number: 86 Symbol: Rn Atomic Weight: 222.0176 Discovery: Fredrich Ernst Dorn 1898 or 1900 (Germany), discovered the element and called it radium emanation. Ramsay and Gray isolated the element in 1908 and named it niton. Electron Configuration: [Xe] 4f14 5d10 6s2 6p6 Word Origin: from radium. Radon was once called niton, from the Latin word nitens, which means shining Isotopes: At least 34 isotopes of radon are known ranging from Rn-195 to Rn-228. There are no stable isotopes of radon. The isotope radon-222 is the most stable isotope and called thoron and emanates naturally from thorium. Thoron is an alpha-emitter with a half-life of 3.8232 days. Radon-219 is called actinon and emanates from actinium. It is an alpha-emitter with a half-life of 3.96 sec. Properties: Radon has a melting point of -71Â °C, boiling point of -61.8 Â °C, gas density of 9.73 g/l, specific gravity of the liquid state of 4.4 at -62Â °C, specific gravity of the solid state of 4, usually with a valence of 0 (it does form some compounds, however, such as radon fluoride). Radon is a colorless gas at normal temperatures. It is also the heaviest of the gases. When it is cooled below its freezing point it displays a brilliant phosphorescence. The phosphorescence is yellow as the temperature is lowered, becoming orange-red at the temperature of liquid air. Inhalation of radon presents a health risk. Radon build-up is a health consideration when working with radium, thorium, or actinium. It is also a potential issue in uranium mines. Sources: It is estimated that each square mile of soil to a depth of 6 inches contains approximately 1 g of radium, which releases radon to the atmosphere. The average concentration of radon is about 1 sextillion parts of air. Radon naturally occurs in some spring waters. Element Classification: Inert Gas Physical Data Density (g/cc): 4.4 ( -62Â °C) Melting Point (K): 202 Boiling Point (K): 211.4 Appearance: heavy radioactive gas Specific Heat (20Â °C J/g mol): 0.094 Evaporation Heat (kJ/mol): 18.1 First Ionizing Energy (kJ/mol): 1036.5 Lattice Structure: Face-Centered Cubic CAS Registry Number: 10043-92-2 Trivia Ernest Rutherford is sometimes credited with the discovery of radon. He actually discovered the alpha particle radiation given off by radon.Radon became the official name for element 86 in 1923. The IUPAC chose radon from the names radon (Rn), thoron (Tn) and actinon (An). The other two names are given to isotopes of radon. Thoron is Rn-220 and actinon became Rn-219.Other suggested names for radon included radium emanation, niton, extadio, exthorio, exactinio, akton, radeon, thoreon and actineon.The U.S. Environmental Protection Agency lists radon as the second highest cause of lung cancer. References Los Alamos National Laboratory (2001)Crescent Chemical Company (2001)Langes Handbook of Chemistry (1952)CRC Handbook of Chemistry Physics (18th Ed)International Atomic Energy Agency ENSDF database (Oct 2010)

The State of Mexico's International Trade Essay

The State of Mexico's International Trade - Essay Example Some of these prominent FTA's are the North American Free Trade Agreement (NAFTA), with the United States and Canada (1994), Colombia and Venezuela (G-3, 1995), the European Union (2000), Iceland, Norway, Liechtenstein, and Switzerland (EFTA, 2001) and Guatemala, Honduras, and El Salvador (North Triangle, 2001). FTA's have helped Mexico increase its international trade with countries around the world. They have also aided in reducing the effects of the untimely and unpredictable economic crisis such as crashing prices of oil, recession in the global economies and so on. Today Mexico stands at the seventh position in the list of leading trading nations in the world owing to its free trade policies. Mexico contributes to 46 percent of the Latin America's exports and 47 percent of its imports. NAFTA proved to be a major step in attracting foreign direct investments in the country. Foreign capital has increased the employment rates and the output in the country. Earlier Mexico relied on oil for its exports while at present times the manufactured goods compose the major section of export. All these steps have lead to the significant overall economic development of all the parts of the country (Derbez ""Beyond NAFTA -- Mexico and the Free Trade Area of the Americas," by Luis Ernesto Derbez, Secretary of the Economy, Mexico -- "The Free Trade Area of the Americas" -- U.S. Department of State, October 2002"). The biggest trading partners of Mexico are USA and Canada. Table 1 (Davy and Meyers, "United States-Canada-Mexico Fact Sheet on Trade and Migration"). Table 1 shows the export and import statistics of different NAFTA partners in 2003. The major trade partners of Mexico are US and Canada. USA holds a major share in Mexican export sector. Mexico sends 88% of its exports to US. Chart 1 demonstrates the trade among the three countries: US, Mexico and Canada. Mexico-US trade accounted for $286 billion in 2004. Canada and US are the most important contributors to the Foreign Direct investment in Mexico. 40% of the total FDI to Mexico comes from USA. In 2004 this amount was around $7.3 billion from USA. Canada comes at fourth place in the major FDI contributors to Mexico listing. Canada accounted for $379.2 million FDI in 2004 (Davy and Meyers, "United States-Canada-Mexico Fact Sheet on Trade and Migration"). On the other hand Mexico serves as third largest source of oil imports to US as shown in Fig.1 ("Mexico Energy Data, Statistics and Analysis - Oil, Gas, Electricity, Coal"). Chart 1 (Davy and Meyers, "United States-Canada-Mexico Fact Sheet on Trade and Migration"). Fig.1 ("Mexico Energy Data, Statistics and Analysis - Oil, Gas, Electricity, Coal"). Mexico has a strong existence in the international agro-food market owing to its different products like agriculture, forestry, livestock, hunting, fishing, foods, beverages and tobacco. Mexico exported worth $11.8 billion in 2005 and imported worth $14.3 billion in the same year. 65% of Mexico's imports come from USA ("RS/USDA Briefing Room - Mexico: Trade"). Chart 2 ("RS/USDA Briefing Room - Mexico: Trade"). Mexico recorded an annual GDP growth rate of 4.8% in 2006. It increased from 0.8% to 2.8% in three years from 2002 from 2005. The total trade of Mexico showed a significant increase to 60.3 per cent of GDP from earlier

Agency and Franchising Essay Example | Topics and Well Written Essays - 500 words

Agency and Franchising - Essay Example Two types of retail business format are popular; agency and franchising. Agency or an agent can be broadly described as a person with an authority to represent another person, persons or corporation (called the Principal) (Brillinger, p214). The agent therefore, represents the principal in all the commercial transactions. It is important to understand that as the agent represents the principal, the principal, by default, becomes liable for all the acts of omission and commission of the agent. Even when the agent’s appointment may have pre-defined authority as given by the principal, the principal becomes responsible for all the leverages taken by the agent while conducting business on his behalf. The goods and services sold by the agent are owned by the principal, he is just the intermediary who acts on behalf of the owner of the goods and services. ‘By virtue of an agency, the seller contracts directly with the customer, who is seller’s customer, not that of agent’ (Ishani, 2007). The franchising is ‘a marketing system revolving around a two-party legal agreement, whereby the franchisee conducts business according to the terms specified by the franchisor’ (Longenecker, chapter 3). The process of ‘franchising’, therefore, has become popular in the emerging economy which presents wide scope for the parties, franchisee and the franchisor. The franchising format of business primarily comprises of licensing another person to run the business in a pre-determined format. The franchisor is able to expand his business and spread them in wider areas of operation in a relatively short time and with reduced capital cost. By facilitating goods and services to the franchisee, the franchisor is relieved of the pressures of day today operation and at the same time, he is able to control the appearance and operation of the franchisee

Distinction Between Marginal Cost And Incremental Cost Economics Essay

Distinction Between Marginal Cost And Incremental Cost Economics Essay 2) (a) What is the distinction between marginal cost and incremental cost? (b) How are sunk costs treated in managerial decision making? Why (a)Incremental costs are closely related to the concept of marginal cost but with a relatively wider connotation. While marginal cost refers to the change in total cost resulting from producing an additional unit of output, incremental cost refers to total additional cost associated with the decision to expand output or to add a new variety of product etc. It represents the difference between two alternatives. So both are concerned with the change in the total cost where marginal costs refers to the increase or decrease in that results from producing or distributing an additional unit of output and, incremental cost refers to the change in the total output as a result of change in the methods of production or distribution such as addition of a product or territory, use of improved technology or selection of a additional sales channel. (b)A sunk cost is a cost that has been already incurred and cannot be changed or altered by any decision made now or in future. For example , once it is decided to make incremental investment expenditure and funds are allocated and spent, all preceding cost are considered as sunk cost. Such cost are based on prior commitment and cannot be revised or recovered when there is a change in market condition or in business decision makings. The sunk cost are ignored in managerial decision making as they are irrelevant costs which will not affect the decision. Suppose a company paid $50000 to purchase machinery five years back. The machine was used to produce for last few years and now it is obsolete and no longer can be sold .The amount paid is already incurred and cannot be recovered. So the cost of the obsolete machine will not be considered in making managerial decisions. (8) What shape of the LAC curve has been found in many empirical studies? What does this mean for the survival of small firms in the industry? Answer: In the empirical studies the shape of long run average cost curve to be L-shaped with a scale of economics . This means largest firms tend to have cost advantage and the industry tends to become monopoly which is called natural monopoly. The L-shaped shows that per unit producing a product decline initially and then forms L- shaped which cost advantage for longer period resulting to economies of scale due to optimum utilization of recourses. It was believed that economics outstrips diseconomies of scale as firms expand from small size up to a certain size. For the smaller firms in the industry will face diseconomies of scale and no economic profit as there will be lesser amount of recourses and output level.As marginal cost are raising function of rate of out and falling function of the volume. (9) (a) What is the meaning of economies of scope? How do they differ from economies of scale? (b) What do learning curves show? How do they differ from economies of scale? What is the usefulness of learning curves as a managerial tool? What is the reason for rising international trade in inputs and the use of foreign skilled labor? Answer: (a) Economies of scope exist if a firm can produce several product lines at a given output level more cheaply than a combination of separate firms each producing a single product at the same output level. Economies of scope occur where it is cheaper to produce a  wider range of products  rather than specialize in just a handful of products. Expanding the product range to  exploit the value of existing brands  is a good way of exploiting economies of scope. E.g. Amazon expanding into selling toys, sports goods or McDonalds expanding the range of their products to include salads and health foods. Economies of scope is relatively a new approach to business strategy, and is heavily based on the development of high technology. Economies of scale are reductions in average costs imputable to production volume increases. Economies of scope differ from economies of scale in that a firm receives a cost advantage by producing a complementary variety of products with a concentration on a core competency. While economies of scope and scale are often positively correlated and interdependent, strictly speaking the benefits from scope have little to do with the size of output. (b)The aircraft industry was the first to develop the learning curve. The curve that represents the declining trend in the long run average cost of production is called the learning curve. Economies of scale is the are the reduction in average cost as the result of increase in production volume whereas learning curve shows the graphical presentation of the falling average cost curve with respect to increase in production. The learning curve is widely used by business managers and serves as an important managerial tool to foresee and predict the possible trend in long run average cost of production and plan production accordingly. The basic purpose behind the use learning curve is to forecast the unit cost with cumulative increase in output. It is also used to forecast manpower, machinery, material needs of the company, to determine and quote the future competitive price of the product and for planning production. (c) International trade is the exchange of goods, services and capital across the international territory or borders. The use of foreign labor will be more costly due to the reason that borders imposes additional costs such as tariffs , time costs due to border delays and costs associated country difference . A rise in the use of foreign skilled labor will have a direct impact in the international trade resulting in an increase in the imports which may affect the balance of trade. Chapter 7 Problems 2) Given the following total cost schedule of a firm, (a) derive the total fixed cost and total variable cost schedule of the firm, and from them derive the average fixed cost, average variable cost, average total cost, and marginal cost schedules of the firm. Q 0 1 2 3 4 5 TC $30 50 60 81 118 180 Answer: Total cost = Total fixed cost +Total variable cost Marginal cost= Total cost of producing additional unit total cost of producing the previous unit. Average variable cost=Total variable cost/Number of units Average fixed cost=Total fixed cost / Number of units Total average cost=Average fixed cost + Average variable cost Q 0 1 2 3 4 5 TC $30 50 60 81 118 180 TFC $30 30 30 30 30 3 TVC $0 20 30 51 88 150 MC $ 20 10 21 37 62 ATC $ 50 30 27 29.5 36 AFC $ 30 15 10 7.5 6 AVC $ 20 15 17 22 36 3) Airway Express has an evening flight from Los Angeles to New York with an average of 80 passengers and a return flight the next afternoon with an average of 50 passengers. The plan makes no other trip. The charge for the plane remaining in New York overnight is $1,200 and would be $0 in Los Angeles. The airline is considering eliminating the night flight out of Los Angeles and replacing it with a morning flight. The estimated number of passengers is 70 in the morning flight and 50 in the return afternoon flight. The one-way ticket is $200 for any flight. The operating cost of the plane for each flight is $11,000. The fixed costs for the plane are $3000 a day whether it flies or not. 3(a): Please calculate and compare the profit under each flight. 3(b) is asking should Airway Express continue providing the flight between Los Angeles and New York. Even Airway Express decides not to fly, it still have to pay the fixed costs of $3,000 per day. Answer-Given, Cost of the ticket =$200 Operating cost =$11,000 Fixed cost=$3000 Overnight charge=$1,200 Total cost = $11,000+$3,000+$1,200=$15,200 I. Profit for the evening flight from Los Angeles to New York which has average passengers of 80 and cost of the tickets is given as $200 so the average revenue will be $16,000. Profit=Revenue-Cost $16,000-$15,200 $800 Thus, average Profit for the flight is $800 II. Profit for the afternoon flight next day from New York to Los Angeles carrying average passengers of 50, so the average revenue will be $10000 Profit=$10,000 -$15,200 -5,200 The fight is showing average loss of $5,200 III. Profit for the morning flight eliminating with the night flight from Los Angeles to New York carrying an average passengers of 70, the revenue will be $14,000. Cost of operation =fixed cost + operating cost $3,000+$11,000 $14000 Profit=Revenue earned cost incurred $14000 $14000 $0 The flight is nor earning average profit or average loss. IV. Profit for the afternoon flight from New York to Los Angeles with estimated passengers of 50, the revenue will be $10,000 Profit=$10,000-$14000 $4000 The flight is incurring loss of $4000. (b)The Airway express flying evening flight from Los Angeles is earning a profit of $800 with average passengers of 80 and whereas incurring loss of $5,200 in the return trip. In the next case, the airline is making no profit and no loss in the morning flight from Los Angeles to New York, whereas making a loss of $4000 in the return trip . The airline should discontinue providing flights between Los Angeles and New York. Although, it has a fixed cost of $3000 per day which come to $90,000 but the airline will be incurring huge cost of $14000 per day which comes to $42, 00,000 in a month. So it would be a better option to discontinue the operation of the airline from Los Angeles to New York. 4) Electric utility companies usually operate their most modern and efficient equipment continuously (i.e. around the clock) and use their older less efficient equipment only to meet periods of peak demand. 4(a) Will the short-run marginal cost decrease or increase? Answer: Electric Utility firms retire old plants, modernize generating units, and occasionally build new plants, generally after a lengthy period of licensing, regulatory review, and construction. But this not possible in short run as in short run there are fixed factors which cannot be changed in short run as they tend to use their older less efficient equipment to meet the periods of peak demand. In Electric utility companies variable cost consist mainly energy costs. Fixed cost are the cost which cannot be changed with the level of output and in electric utility companies fixed are analogues to capacity cost. As a result the marginal cost in the short run decreases . The reason is the marginal cost curve will turn up when utility will be forced to less efficient during on peak-periods. 11) The Goldberg-Scheinman Publishing Company is publishing a new managerial economics text for which it has estimated the following total fixed and average variable costs: Total fixed costs: Copy editing $10,000 Typesetting $70,000 Selling and promotion $20,000 Total fixed cost $100,000 Average Variable cost: Printing and binding $6 Administrative costs $2 Sales commission $1 Bookstore discounts $7 Authors royalties $4 Average variable cost $20 Project selling price $30 Determine the breakeven output and total sales revenues. (b) Determine the output that would generate a total profit of $60,000 and the total sales revenues at that output level. Answer: (a)At the breakeven point is the point where cost and revenue are equal. Calculations: Breakeven point (sales) =Fixed cost/(Selling price -Variable cost) =$100,000/($30-$20) =$10,000 Breakeven output=$10,000/$30 =333.3 units (b)Sales=Variable cost + fixed cost +profit =$20+$100000+$60000 =$160020 Output level-$160020/$30 =5334 units. Chapter 8 Discussion 2) (a) Under what conditions should a firm continue to produce in the short run if it incurs losses at the best level of output? (b) Are the normal returns on investment included as part of costs or as part of profits in managerial economics? Why Answer: In short run, there is only one variable input (labor) and other inputs (especially capital) are held constant. In other words, the size of labor may increase or decrease but the capital and other inputs will remain fixed. If the Incurs losses at its best level of output then, the firm should try to reduce marginal cost and operate at the level where marginal and average product are positive or increasing. If price falls below average total cost, but remains above average variable cost, the firm will continue to operate in the short run, producing the quantity where  MR  =  MC  doing so minimizes its losses. Whereas If price falls below average variable cost, the firm will shut down in the short run, reducing output to zero. The lowest point on the average variable cost curve is called the shutdown point. (b)Normal returns on investment is also referred as normal profit, is the level of profit required to keep the engaged in a particular activity .The normal rate of return is the Average profit necessary to attract and retain investment .A normal rate of return, or profit, is necessary to induce individuals to invest funds rather than spend them for current consumption. Normal profit is simply a cost for capital as it is no different from the cost of other recourses (materials, energy or labor).As a result , the normal rate of return are included as a part of cost in managerial economics. 8) What happen to the Dollar price that a U.S. (a) importer pays and (b) exporter receives if prices are agreed in Euros and the Dollar then appreciates by 10 percent with respect to the Euro? Answer: The exchange rate is the price of one currency expressed in terms of another. If the importer pays i.e. in dollars to the foreign country and the value of the foreign country currency is devalued the dollar value of promised payment will fall. Whereas if the foreign currency value appreciates the dollar value of the promised payment will rise resulting to a disfavor to the importer country. If prices are agreed in Euros and the Dollar then appreciates by 10 percent with respect to the Euro and the exporters pay, the value of the promised payment will fall. 13) (a) What are the choice-related variables for a firm under monopolistic competition? (b) What is non-price competition? (c) Product Variation? (d) Selling expenses? Answer: (a)Monopolistic competition is defined as market setting in which large number of sellers sells differentiated products. A firm will produce output where MR=MC. The consumers are willing to purchase given amount of product for the given price. The price is determined by demand curve. In short run firms can give positive profits .Positive profits encourages new firms to enter in the market. In the long run due to the entrance of new firms economic profit is zero i.e. P=AC. The main objective of firms under monopolistic competition is profit maximization. (b)Non price competition- The market situation in which firms or the competitors will not lower the price for a fear of price war. So, instead they focus on extensive promotion to highlight distinctive features or benefit of the products. It refers to the competition among firms that choose to distinguish between their products on the basis of attribute, design are non price means e.g. promotions, style etc. It is often used by firms that want to differentiate between virtually identical products. The reason for this is that firms are that operate in monopolistic competition are the price taker as they do not have the influence in changing the price of their goods. Consequently to distinguish themselves they use the strategy of non price such as product innovation and advertisement. (c) Product variations-Product variation is the change in the product properties or features in timing. For example, passenger cars companies bring new models out in the exiting classs e.g. Gulf I, gulf II. Product variation is the modification by changing one or more features of the product to enhance consumer appeal .It will provide a competitive advantage as the company may be able to charge a higher price and enhance loyalty. The variation is made on quality, performance and design. The product variation is, thus, the improvements in the existing product line with new features, appearance, better quality, better performance etc giving a new outlook to it. (d)Selling expenses-Selling expenses are the part of operating expenses along with administrative expenses. Selling expense is the cost incurred to sell or distribute merchandise .Selling expenses includes advertising, sales commission, promotional materials distributed, salaries and fringe benefits of sales personnel , rent of sales office, utilities usage in the sales department. Chapter 8 Problems:- 2) Starting with the market demand and supply functions in Problem 1, determine algebraically the new equilibrium price and quantity if the demand function changes to QD= 12,000- 1,000P or to QD= 8,000- 1,000P. (b) the market supply function changes to QS*= -4,000+1,000P or to QS**= 1,000P. Solution: We know , at the equilibrium point Quantity supplied equals quantity demanded i.e. QD=QS or QS=QD We have, QD=10000-1000P QS= -2000-1000P If demand function changes to QD=12000-1000P or QD=8000-1000 We get , 12000-1000P=2000-1000P -1000P+1000P= -12000P-2000P P = 12000 P= 12000 The new equilibrium price will be $12000 BY substituting the value of P in the demand function and supply function, 12000-1000(12000)=-2000-1000(12000) 12000-120,00,000= -2000-120,00,000 14000 The new equilibrium quantity is 14000 For market supply function, QS= 4000 +1000P or QS=1000P Now, the equation will be 10000-1000P=-4000+1000P -1000P-1000P= -4000- 10000 -P= -14000 P=14000 The equilibrium price is $16000 By substituting the value of P, will be , 10000-1000P=1000P 10000-1000(16000)=-4000+1000(16000) 10000-140,00,000=-4000+140,00,000 6000 The equilibrium quantity will be 6000 7) From Figure 8-4, determine the effect of a 33 percent import tariff on commodity X. * The tariff-inclusive price will be $3(1+.33) = $4. What are the impacts of tariff on domestic consumption, domestic production, imports, and governments tariff revenue? Please show the numbers, for example, the domestic consumption will decrease from 600X to 500X. Solution: The tariff inclusive price will be $3(1+.33)=$4 , the price of the commodity will be $4 and as a result the price of the commodity X will rise from $3 to $4.Tariff is a tax added to the costs imported goods and sometimes to exported goods. The domestic consumption will decrease due to the addition of tariff which will result to an increase in the price of the commodity. As the price of the commodity will increase, the demand for the commodity will decline which will result in a reduction in consumption from 600X to 500X. The domestic production will increase as the producers in the importing country will experience an increase in well-being as a result of tariff from 200X to 300X. The increase in the price of their product on the domestic market increases producer surplus in the industry. The government tariffs revenue will increase as a result of increase in tariffs as governments receives the tariff and also depends on the way how the government spends. 9) Starting from Figure 8-6 showing the short-run price and output determination by the monopolist, suppose that the average fixed costs of the monopolist increase by $5 and that its AVC is $6 less than the new ATC at the best level of output. ATC=AFC+AVC. After AFC increases by $5, ATC will increase by $5 (ATC curve moves up vertically by $5 for every output Q) and MC, D and MR stay the same. The AFC for 500 units is $6, in other words, the TFC is $3,000. Answer: Average total cost-Average fixed cost + Average variable cost Given ATC=$8, a increase in average fixed cost $5 and AVC is $6 less then, After the increase in AFC the ATC will be appreciated by $5 as a result of this ATC curve will move upwards vertically by $5 for every level of output. The best level of out is where MC=MR which is 500 units. AFC for best level of output i.e. 500 is $6 and TFC is $30,000.