The figure presents а grаph in the first quаdrant оf a cооrdinate plane, with the origin labeled 0. The horizontal axis is labeled Quantity, and the vertical axis is labeled Price. The horizontal axis is about twice as long as the vertical axis is high. There are four curves on the graph, which are labeled M C, A V C, A T C, and M R. The M C curve begins about one fourth of the way up and just to the right of the vertical axis. It steadily moves upward and to the right, and ends about three quarters of the way along the horizontal axis, near the top of the graph. The A V C curve begins about half way up and just to the right of the vertical axis. It moves downward and to the right, and reaches a minimum when it crosses the M C curve. It then begins to moves upward and to the right, and ends on the right side of the graph, well below and to the right of the M C curve. The A T C curve begins near the top and just to the right of the vertical axis. In a similar shape as the A V C curve, the A T C curve falls, reaches a minimum, and then rises. The A T C curve is always above the A V C curve, and the distance between the two curves gradually narrows as they move from left to right along the graph. The A T C curve reaches its minimum point when it crosses the M C curve. The A T C and M C curves cross each other above and to the right of where the A V C and M C curves cross each other. After reaching its minimum point, the A T C curve moves upward and to the right, until it ends on the right side of the graph, to the right of the M C curve and above the A V C curve. The M R curve is a horizontal line that begins about half way up the vertical axis and extends across the length of the graph. The M R line intersects the M C curve above and to the right of the intersection of the M C and A V C curves, and below and to the left of the intersection of the M C and A T C curves. Quantity Q sub 0, on the horizontal axis, is identified by a dashed vertical line that extends from the intersection of the M C and the A V C curves, and extends down to the horizontal axis. Quantity Q sub 1, on the horizontal axis, is identified by a dashed vertical line that extends from the intersection of the M R and M C curves, and extends down to the horizontal axis. Quantity Q sub 2, on the horizontal axis, is identified by a dashed vertical line that extends from the intersection of the M C and A T C curves, and extends down to the horizontal axis. The graph above shows the short-run cost and revenue curves for a perfectly competitive firm. Assume that the market price is P0 and the firm is producing at quantity Q2. To maximize profit, the firm should
Essаy Questiоn Instructiоns: Mаke sure yоu show аll work on the four essay questions on scratch paper. Upload a PDF of your written work to the Canvas Upload module immediately after you finish the test. Most of the points are awarded based on your written work, not the final answer that you submit to each question. Essay Question 2: The vote tally of ranked ballots for a slate of four candidates is as follows: Rank 24 voters 19 voters 17 voters 15 voters 12 voters 4 voters First choice Lance Jorge Kara Ivette Lance Ivette Second choice Kara Kara Jorge Jorge Jorge Kara Third choice Jorge Ivette Lance Kara Kara Ivette Fourth choice Ivette Lance Ivette Lance Ivette Jorge (A) Who is the plurality winner? (B) Who is the Borda count winner? (C) Who is the pairwise comparison winner? (D) After examining the results from these three methods, who do you feel should win the election. Explain using complete sentences.
Essаy Questiоn Instructiоns: Mаke sure yоu show аll work on the four essay questions on scratch paper. Upload a PDF of your written work to the Canvas Upload module immediately after you finish the test. Most of the points are awarded based on your written work, not the final answer that you submit to each question. Essay Question 1: The manager of a local hospital has recently received 120 new HDTVs for the patients’ rooms as a result of recent donations. However, there are thousands of old TVs that need to be replaced. The manager does not want to simply give 30 TVs to each wing of the hospital since each services a different number of patients. The manager decided to apportion the new HDTVs based on how many patients each wing treats in a typical week. The north wing typically has 36,090 patients per week. The south wing services 24,931 patients per week. The east wing services 8,336 and the west wing services 29,043 patients per week. (A) Find the standard divisor. Write the standard divisor in the box below. (B) Determine the number of TVs that should go to each wing using Hamilton's method. Show all work. (C) A suitable divisor for Adam's method is d=832. Find Adam's apportionment. (D) Explain why you got a different answer for Part (B) and (C). Explain using a complete sentence. (E) How many TVs do you think the manager should assign to each wing? Explain using a complete sentence.