Microeconomics (12th Edition) (Pearson Series in Economics)
12th Edition
ISBN: 9780133872293
Author: Michael Parkin
Publisher: PEARSON
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Chapter 7, Problem 20APA
To determine
How the quantity of US exports to Mexico and the US government's tariff revenue from trade with Mexico have changed.
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Exercise 2A firm has the following short-run production function: Q = 30L2 -0.5L3a. Make a table with two columns: Production and Labour b. Add a third column to the table with the marginal product of labour c. Graph the values that you estimated for the production function and the marginal product oflabour Exercise 3A Firm has the following production function: Q= 20L-0.4L2a. Using differential calculus find the unit of labour that maximizes the production. b. Estimate function of Marginal product of labor c. Obtain the Average product of labor. d. Find the point at which the Marginal Product of Labour is equal to the Average Product of Labour.
Problem 3
You have the following data for the last 12 months' sales for the PRQ Corporation (in thousands
of dollars):
January 500
July
610
February 520
August
620
March
520
September 580
April
510
October
550
May
530
November 510
June
580
December 480
1. Calculate a 3-month centered moving average.
2. Use this moving average to forecast sales for January of next year.
3. If you were asked to forecast January and February sales for next year, would you be confident
of your forecast using the preceding moving averages? Why or why not? expect? Explain.
Problem 5
The MNO Corporation is preparing for its stockholder meeting on May 15, 2013. It sent out proxies
to its stockholders on March 15 and asked stockholders who plan to attend the meeting to respond.
To plan for a sufficient number of information packages to be distributed at the meeting, as well
as for refreshments to be served, the company has asked you to forecast the number of attending
stockholders. By April 15, 378 stockholders have expressed their intention to attend. You have
available the following data for the last 6 years for total attendance at the stockholder meeting and
the number of positive responses as of April 15:
Year
Positive Responses
Attendance
2007
322
520
2008
301
550
2009
398
570
2010
421
600
2011
357
570
2012
452
650
1. What is your attendance forecast for the 2013 stockholder meeting?
2. Are there any other factors that could affect attendance, and thus make your forecast inac-
curate?
Chapter 7 Solutions
Microeconomics (12th Edition) (Pearson Series in Economics)
Ch. 7.1 - Prob. 1RQCh. 7.1 - Prob. 2RQCh. 7.2 - Prob. 1RQCh. 7.2 - Prob. 2RQCh. 7.2 - Prob. 3RQCh. 7.3 - Prob. 1RQCh. 7.3 - Prob. 2RQCh. 7.3 - Prob. 3RQCh. 7.3 - Prob. 4RQCh. 7.3 - Prob. 5RQ
Ch. 7.4 - Prob. 1RQCh. 7.4 - Prob. 2RQCh. 7.4 - Prob. 3RQCh. 7.4 - Prob. 4RQCh. 7.4 - Prob. 5RQCh. 7 - Prob. 1SPACh. 7 - Prob. 2SPACh. 7 - Prob. 3SPACh. 7 - Prob. 4SPACh. 7 - Prob. 5SPACh. 7 - Prob. 6SPACh. 7 - Prob. 7SPACh. 7 - Prob. 8SPACh. 7 - Prob. 9SPACh. 7 - Prob. 10SPACh. 7 - Prob. 11SPACh. 7 - Prob. 12APACh. 7 - Prob. 13APACh. 7 - Prob. 14APACh. 7 - Prob. 15APACh. 7 - Prob. 16APACh. 7 - Prob. 17APACh. 7 - Prob. 18APACh. 7 - Prob. 19APACh. 7 - Prob. 20APACh. 7 - Prob. 21APACh. 7 - Prob. 22APACh. 7 - Prob. 23APACh. 7 - Prob. 24APACh. 7 - Prob. 25APACh. 7 - Prob. 26APACh. 7 - Prob. 27APACh. 7 - Prob. 28APA
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