{"id":3037,"date":"2018-02-13T22:37:34","date_gmt":"2018-02-13T11:37:34","guid":{"rendered":"https:\/\/casestudyhelp.com\/sample-questions\/?p=3037"},"modified":"2024-08-28T23:24:35","modified_gmt":"2024-08-28T13:24:35","slug":"1345-sbs-mba-managerial-economics-assignment-2018-kuwait","status":"publish","type":"post","link":"https:\/\/casestudyhelp.com\/sample-questions\/1345-sbs-mba-managerial-economics-assignment-2018-kuwait\/","title":{"rendered":"SBS MBA-Managerial Economics Assignment &#8211; 2018\u2013 Kuwait"},"content":{"rendered":"<h2 style=\"text-align: center;\"><\/h2>\n<h2 style=\"text-align: center;\"><strong><span style=\"text-decoration: underline;\">SECTION\u00a0 \u201cA\u201d<\/span><\/strong><\/h2>\n<ol>\n<li style=\"text-align: justify;\">Wholesalers buy and sell roses in containers that hold 120 stems. The table provides information about the wholesale market for roses in the UAE. The demand schedule is the wholesalers\u2019 demand, and the supply schedule is the UAE rose growers\u2019 supply. Wholesalers can buy roses at auction in Aalsmeer, Holland, for the US $125 per container.\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0(10 marks)<\/li>\n<\/ol>\n<p>&nbsp;<\/p>\n<table style=\"height: 40px;\" width=\"465\">\n<tbody>\n<tr>\n<td width=\"143\">Price<\/td>\n<td width=\"143\">Quantity Demanded<\/td>\n<td width=\"143\">Quantity Supplied<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"height: 212px;\" width=\"465\">\n<tbody>\n<tr>\n<td width=\"143\">(US $\/container)<\/td>\n<td colspan=\"2\" width=\"286\">(millions of containers per year)<\/td>\n<\/tr>\n<tr>\n<td>100<\/td>\n<td>15<\/td>\n<td>0<\/td>\n<\/tr>\n<tr>\n<td>125<\/td>\n<td>12<\/td>\n<td>2<\/td>\n<\/tr>\n<tr>\n<td>150<\/td>\n<td>9<\/td>\n<td>4<\/td>\n<\/tr>\n<tr>\n<td>175<\/td>\n<td>6<\/td>\n<td>6<\/td>\n<\/tr>\n<tr>\n<td>200<\/td>\n<td>3<\/td>\n<td>8<\/td>\n<\/tr>\n<tr>\n<td>225<\/td>\n<td>0<\/td>\n<td>10<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2 style=\"text-align: left;\"><strong>Required:<\/strong><\/h2>\n<ul>\n<li style=\"text-align: justify;\">Without international trade, what would the price of a container of roses be and how many containers of roses a year would be bought and sold in the UAE?<\/li>\n<li style=\"text-align: justify;\">At a price in your answer to part (a), does the UAE or the rest of the world have a comparative advantage in producing roses? Explain.<\/li>\n<li style=\"text-align: justify;\">If UAE wholesalers buy roses at the lowest possible price, how many do they buy from UAE growers and how many do they import.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">2.)\u00a0 \u00a0Although he was a prolific artist, Pablo Picasso painted only 1,000 canvases during his \u2015Blue Period.\u2016 Picasso is now dead, and all of his Blue Period works are currently on \u00a0\u00a0display in museums and private galleries throughout Europe and the United States.\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0(10 marks)<\/p>\n<ul>\n<li style=\"text-align: justify;\">Draw a supply curve for Picasso Blue Period works. Why is this supply curve different from ones you have seen?<\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li>Given the supply curve from part a, the price of a Picasso Blue Period work will be entirely dependent on what factor(s)? Draw a diagram showing how the equilibrium price of such a work is determined.<\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li>Suppose rich art collectors decide that it is essential to acquire Picasso Blue Period art for their collections. Show the impact of this on the market for these paintings.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">3.)\u00a0 \u00a0A market failure occurs when the supply of a good or service is insufficient to meet demand. This results in an inefficient distribution of resources among market participants. Hence government needs to intervene to bring efficiencies. Explain any six tools available for government interventions to deal with the market failures with suitable examples.\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 (10 marks)<\/p>\n<p style=\"text-align: justify;\">4.)\u00a0 \u00a0A demand for a product is usually very sensitive to economic variables, such as the prices and consumer income. This responsiveness of demand is elasticity. Explain the different types of demand elasticity with appropriate formulae. Identify and defend the expected signs associated with each form of elasticity.\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(10 marks)<\/p>\n<h2 style=\"text-align: center;\"><strong><span style=\"text-decoration: underline;\">SECTION\u00a0 \u201cB\u201d<\/span><\/strong><\/h2>\n<p><strong>Answer all the below questions.<\/strong><\/p>\n<p style=\"text-align: justify;\">1.)\u00a0 \u00a0It is dawn in Shanghai, China. Already thousands of Chinese are out cleaning the city\u2019s streets. They are using brooms.<\/p>\n<p style=\"text-align: justify;\">On the other side of the world, night falls in Washington, D.C., where the streets are also being cleaned\u2014by a handful of giant street-sweeping machines driven by a handful of workers.<\/p>\n<p style=\"text-align: justify;\">The difference in method is not the result of a greater knowledge of modern technology in the United States\u2014the Chinese know perfectly well how to build street-sweeping machines. It is a production decision based on costs in the two countries. In China, where wages are relatively low, an army of workers armed with brooms is the least expensive way to produce clean streets. In Washington, where labor costs are high, it makes sense to use more machinery and less labor.<\/p>\n<ul>\n<li>Keeping the production aspect in mind, explain the relationship between Total Product (TP), Average Product (AP) and Marginal Product (MP) with the help of diagram?<\/li>\n<li>Also, describe graphically how a firm can reduce its costs in the short run and at what point the firm should stop hiring more cleaners.\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0(20 marks)<\/li>\n<\/ul>\n<p>2.)\u00a0 \u00a0Show in a diagram the effect on the demand curve, the supply curve, the equilibrium price, and the equilibrium quantity of each of the following events.<\/p>\n<p>a) The market for newspapers in your town.<\/p>\n<ol>\n<li>Case 1: The salaries of journalists<\/li>\n<li>Case\u00a0 2:\u00a0 There\u00a0 is\u00a0 a\u00a0 big\u00a0 news\u00a0 event\u00a0 in\u00a0 your\u00a0 town,\u00a0 which\u00a0 is\u00a0 reported\u00a0 in\u00a0 the newspapers.<\/li>\n<\/ol>\n<p>b) The market for St. Louis Rams (a professional football team) cotton T-shirts<\/p>\n<ol>\n<li>Case 1: The Rams win the Super Bowl competition.<\/li>\n<li>Case 2: The price of cotton increases.<\/li>\n<\/ol>\n<p>c) The market for bagels<\/p>\n<ol>\n<li>Case 1: People realize how fattening bagels are.<\/li>\n<li>Case 2: People have less time to make themselves a cooked breakfast.<\/li>\n<\/ol>\n<p>d) The market for the Krugman and Wells economics textbook<\/p>\n<ol>\n<li>Case 1: Your professor makes it required reading for all of his or her students.<\/li>\n<li>Case 2: Printing costs for textbooks are lowered by the use of synthetic paper.<\/li>\n<\/ol>\n<p style=\"text-align: justify;\">3.)\u00a0 \u00a0The Telecommunications Regulatory Authority (TRA) is the UAE\u2019s independent industry regulator. Since its launch in 1976, Etisalat has held a monopoly in the market. That changed in 2006 with the emergence of du, which was awarded a 20-year concession to operate fixed-line,\u00a0\u00a0 wireless, internet, and international telecoms services. Assume after the 20 years period; a du license was terminated. You are required to \u2013\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 (15 marks)<\/p>\n<ul>\n<li>Apply your understanding and concepts from microeconomics, to investigate and summarize the major characteristics of the above market form in the telecom industry.<\/li>\n<\/ul>\n<ul>\n<li>Describe and analyze the economic and pricing policies that you would expect to find in this industry.<\/li>\n<\/ul>\n<ul>\n<li>Explain the profit maximization strategy of this market form with the help of a suitable Graph.<\/li>\n<\/ul>\n<ul>\n<li>Also, write your policy recommendations for the healthy growth of the industry keeping customer interests and innovation in mind.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\" align=\"center\"><a title=\"hire best assignment experts online\" href=\"https:\/\/casestudyhelp.com\/MyOrder.php\"><img decoding=\"async\" src=\"https:\/\/casestudyhelp.com\/images\/hire-best-assignment-experts-online.gif\" alt=\"Hire Your Assignment Writing Expert for Collage\/University\" \/><\/a><\/p>\n<script type=\"text\/javascript\" charset=\"utf-8\" src=\"http:\/\/w.sharethis.com\/widget\/?wp=6.2.9\"><\/script>","protected":false},"excerpt":{"rendered":"<p>SECTION\u00a0 \u201cA\u201d Wholesalers buy and sell roses in containers that hold 120 stems. The table provides information about the wholesale market for roses in the UAE. The demand schedule is the wholesalers\u2019 demand, and the supply schedule is the UAE rose growers\u2019 supply. Wholesalers can buy roses at auction in Aalsmeer, Holland, for the US [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[890,889],"tags":[892,10185],"_links":{"self":[{"href":"https:\/\/casestudyhelp.com\/sample-questions\/wp-json\/wp\/v2\/posts\/3037"}],"collection":[{"href":"https:\/\/casestudyhelp.com\/sample-questions\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casestudyhelp.com\/sample-questions\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casestudyhelp.com\/sample-questions\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/casestudyhelp.com\/sample-questions\/wp-json\/wp\/v2\/comments?post=3037"}],"version-history":[{"count":5,"href":"https:\/\/casestudyhelp.com\/sample-questions\/wp-json\/wp\/v2\/posts\/3037\/revisions"}],"predecessor-version":[{"id":3042,"href":"https:\/\/casestudyhelp.com\/sample-questions\/wp-json\/wp\/v2\/posts\/3037\/revisions\/3042"}],"wp:attachment":[{"href":"https:\/\/casestudyhelp.com\/sample-questions\/wp-json\/wp\/v2\/media?parent=3037"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casestudyhelp.com\/sample-questions\/wp-json\/wp\/v2\/categories?post=3037"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casestudyhelp.com\/sample-questions\/wp-json\/wp\/v2\/tags?post=3037"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}