MF 7701 Managerial Economics
Quiz #1
Fall 2014
Instructions:
1. You may work on this quiz alone or with as many other students as you wish. If you work with other students, please submit only one (common) answer.
2. You may not talk about this exam with anyone outside of the two managerial economics sections.
3. You may work with people from the other section if they are taking this course. In all cases, please submit only one, common answer.
4. You must e-mail your final answers to: holderness.quiz@gmail.com by 5 p.m. on Friday, September 19, 2014. Late submissions will not be accepted. Please do not send the quiz to either Tom or me.
5. Please save and submit your answer as a Word document.
6. All
…show more content…
Watson enjoys playing golf at the country club. An 18-hole round generally takes him out of his office for about 4 hours of relaxation and exercise. He works hard during most of the week but likes to play on Wednesday afternoon to avoid the 3 patient visits per hour (at $30 per visit) he otherwise would have received. Since he is already a member of the club, he makes only a small out-of-pocket expenditure of $10 to the club each time he plays. [NB. all parts of this question combined count the same as one of the other questions.] a. Do you think his cost of playing golf is $10 per week? Why or why not?
b. Suppose that if he didn’t work or play golf on Wednesday afternoon, he would play tennis (also at the club). Tennis require only a court reservation—no additional fee. Suppose you coaxed Dr. Watson into admitting that an afternoon of tennis is worth $100 to him. Now, what is his cost of playing golf on Wednesday?
c. Last year, Dr. Watson purchased a new set of golf clubs for $500. Not only were they excellent clubs to use, but he also discovered they held their original value remarkably well. In fact, he discovered that even after a few rounds of use, he could resell them and get his full $500 back. How much did the purchase of the clubs cost Dr. Watson?
d. Suppose on one particular Wednesday, Dr. Watson’s game was not up to par. In fact, an errant tee shot or
• Please logon to your course site and complete the online quiz for this chapter.
This quiz is to be completed individually. You may refer to course materials in order to prepare your answers. However, do not discuss the questions and answers with any other person regardless of whether they are in the class or not.
A health insurance policy pays 65 percent of physical therapy cost after a $200 deductible. In contrast, an HMO charges $15 per visit for physical therapy. How much would a person save with the HMO if they had 10 physical therapy sessions costing $50 each?
|Assignment |Complete the Chapter 2 Quiz located on the Materials page of your student website. | |30 |
This is a multiple choice/short answer quiz and each item is worth 1.5 points for a total of 60 points. There is only one correct response for each numbered item, and you should use Schaefer (2012) to determine the best response. For multiple choice questions, type the letter of the correct answer next to the corresponding question number on the answer sheet. For short answer responses, type your answer next to the corresponding question number. Review your work prior to submission and make sure you have responded to all questions. Save your work and submit the Quiz Answer Sheet only to the Assignments Link.
This is a multiple choice/short answer quiz and each item is worth 1.5 points for a total of 60 points. There is only one correct response for each numbered item, and you should use Schaefer (2012) to determine the best response. For multiple choice questions, type the letter of the correct answer next to the corresponding question number on the answer sheet. For short answer responses, type your answer next to the corresponding question number. Review your work prior to submission and make sure you have responded to all questions. Save your work and submit the Quiz Answer Sheet only to the Assignments Link.
Guidelines: You may use all of the resources (e.g., textbook, other books, websites) available to you, EXCEPT FOR OTHER PEOPLE. Your work must be done individually. Any exams that appear similar in format and/or answers will be considered to have been done in a group setting. All such exams will receive a score of 0. Late exams will not be accepted for any reason. Any late exams will receive a score of 0. These policies will be strictly enforced.
Type the answers to the assignment questions below. Use complete sentences unless the question says otherwise. You will have more than one day to complete an assignment. At the end of each day, be sure to save your progress.
a) In the first set of calculations, the staff used a discount rate of 20%, a five-year time horizon, and ignored taxes and terminal value. What is the relative attractiveness of these three alternatives?
• Please type you answers into this sheet. You must submit the worksheet two ways: 1) upload the worksheet as a Word document 2) cut and paste your answers into the student response box for the assignment.
This is an individual assignment. You must work alone to complete this quiz. It is important that you complete all readings and videos prior to attempting the quiz. The completed quiz must be submitted in appropriate assignment folder by the due date and time. Please see the Syllabus > Course Schedule. This quiz is valued at 5 points (5% of course grade).
This quiz consist of 20 multiple choice questions and covers the material in chapters 1 through 4. There are five questions from each chapter. Be sure you are in the correct Chapter when you take the quiz.
Please complete each of the assignments below, by typing your responses immediately following each item. (60 total points)
Part 1: This section covers multiple choice type questions. Choose the correct answer from the possible answers provided.