SlideShare una empresa de Scribd logo
1 de 11
CSS120 Professional Communication/Call Center: Project 3
Are You a Left Brain or Right Brain?
Project 3. Are You a Left Brain or Right Brain?
Complete the Left Brain, Right Brain exercise on page 216. Are
you a left brain or right brain? Do you agree or disagree with
your results? Why or Why not?
Staying calm when faced with a difficult situation requires that
you have good habits in place for dealing with pressure. Write
two paragraphs (3 to 5 sentences) describing what techniques
you use to calm yourself when facing a difficult situation.
Briefly describe the benefits you derive from these habits.
Reference chapter 5 page 203-209 in your response and include
what additional techniques you can incorporate in your habit.
Submit your writing to the Project 3 Dropbox folder on D2L.
1. If the law of diminishing returns did not apply, how would
that change the total production of a product like wheat?
2. Given the cost information listed in the table below:
a.
calculate total cost and then, on graph paper, plot the total
fixed, total variable, and total cost schedules.
b.
is this cost information for the short or long run; how can you
tell?
c.
using the costs provided in the table, calculate average fixed,
average variable, average total, and marginal cost.
d.
graph your answers to part c. (do not put them on the same
graph used for part a).
e.
at approximately what level of output does marginal cost begin
to increase?
f.
why does marginal cost begin to increase at the output level you
identified in part e?
Q
TFC ($)
TVC ($)
TC ($)
0
120
0
1
120
60
2
120
80
3
120
90
4
120
105
5
120
140
6
120
210
3. Suppose a firm’s technology is described by a production
function where the quantity produced is equal to the square root
of capital times labor (that is, Q = √(L●K)
a.
Using graph paper, draw the isoquant for three different levels
of output: 2, 4, and 6 units (hint: you will need to find different
combinations of L and K that will make Q equal these output
values. For example, both L=1, K=4 and L=2, K=2 make Q=2,
so both of these combinations of L and K are on the Q=2
isoquant.)
b.
Suppose the price of L and K is $3/hour. On your graph, show
isocost lines corresponding to total costs of $12, $24, and $36.
Using the isoquants and isocost lines, locate three points on the
expansion path and draw the expansion path.
c.
Does this production function exhibit increasing, decreasing, or
constant returns to scale?
d.
Using the three points you found on the expansion path,
calculate the firm’s long run total and average costs at each of
those points. Summarize your calculations in a table and in a
graph.
e.
Suppose amount of capital the firm uses in the short run is fixed
at 4 units. On your isoquant/isocost diagram illustrate the three
points corresponding to output levels of 2, 4, and 6. Calculate
the firm’s short run total and average costs and draw them in
the same graph with the long run costs.
f.
Why do the short run and long run average cost curves have
different shapes?
4. Suppose a firm’s technology is described by a production
function where the quantity produced is equal to the square root
of capital times labor (that is, Q = √(L●K)
a.
Using graph paper, draw the isoquant for output = 8 units.
b.
Suppose the firm has $128 to spend on its variable inputs and
the price of L and K is $8. On the same graph on which you
drew the isoquant, draw the isocost line. What is the optimal
combination of labor and capital?
c.
Suppose the price of labor increases to $16 and the price of
capital decreases to $4. draw the new isocost line and
determine the new optimal combination of labor and capital.
d.
Repeat c) for price of labor at $4 and capital at $16.
5. Fill in the cost information missing in the table below
Q
FC
VC
TC
MC
AFC
AVC
ATC
1
428.5
2
340
67.5
248
3
68.5
4
240
5
22.5
6
616
46
7
623.5
40.5
8
78.5
9
292.5
70.28
10
300
640
30
6. Suppose a firm can spend up to $1000 acquiring two variable
inputs, labor (L) and capital (K). The price of each unit of
labor is $25. The price of each unit of capital is $100.
a.
draw the firm’s isocost line.
b.
suppose the firm had $2000; draw the new isocost line.
c.
suppose the firm had $500; draw the new isocost line.
7. What is does the term “marginal rate of technical
substitution” refer to? Illustrate.
8. Why is a firm’s marginal cost unaffected by an increase in
fixed costs?
9. This table illustrates a __________ production function
because capital and labor _________.
Units of Capital, K
Units of Labor, L
1
2
3
4
1
50.0
66.7
75.5
80.0
2
66.7
100.0
120.0
133.3
3
75.0
120.0
150.0
171.4
4
80.0
133.3
171.4
200.0
10. Suppose the wage rate is $25 per hour and the rent on
capital is $50 per hour. The equation for the isocost line is:
11. Suppose a firm is producing 2,475 units of output by hiring
50 workers (W = $20 per hour) and 25 units of capital (R = $10
per hour). The marginal product of labor and marginal product
of capital are 40 and 25, respectively. Is the firm minimizing
the cost of producing 2,475 units of output? If not, how should
the firm change its usage of L and K?
12. Suppose a firm's short-run production function is given by Q
= 16L0.8. What is the marginal product of the fourth worker?
13. Amazon’s fulfillment center in Salem can sort and pack
boxes. The boxes can be produced using only robots (K),
workers (L), or a combination of the two. K and L are perfect
substitutes for one another. Assume Amazon has TC = $100, K
costs $10/robot and L costs $20/workers. How much K & L will
Amazon use? Draw isoquants and an isocost line as part of your
answer.
14. On separate graphs, draw a SR total product curve, a SR
marginal product curve, a SR total cost curve, and a SR
marginal cost curve. On the graphs show what economic
concept they have in common.
15. What is the marginal-average rule?
16. The firm's long-run total cost is given by LTC = 100Q –
10Q2 + (1/3)Q3, and long-run marginal cost is given by LMC =
100 – 20Q + Q2. At what output level does the firm have
economies of scale?
17. Producing 200 units of good Y and 100 units of good X in
the same factory costs the firm $50,000. In contrast, producing
200 units of good Y in one factory and 100 units of good X in
another factory costs the firm $75,000. So if the firm produces
the two goods together, it achieves:
18. The total cost of producing 7 units of output is:
19.
The firm's average total cost curve appears in which of the
following panels?
20. Suppose a firm's total cost is given by TC = 100 + 4Q +
2Q2. Write the expression or equation for TFC, TVC, ATC,
AFC, AVC, and MC.
CSS120 Professional Communication/Call Center: Capstone
Project Part 2
Part 2. The Service Desk Interview.
The capstone project is designed to be an active learning
experience that brings together all of the concepts and
techniques described in this textbook in a real-world setting.
This project involves interviewing a Customer Service desk
representative. There are a number of task required to be
completed before securing an interview.
Identify three potential Interviewees
1. Name
1. Title
1. Contact Information
1. Business / Company
Communication to the interviewee ahead of time is imperative
to conducting a successful interview. Develop an introduction
email correspondence, i.e. letter or memo:
A. Introduce yourself
B. Provide capstone project overview
C. Request Interview with recommended dates
D. Create a proposed timeline to schedule and complete the
interview
Reference chapter 4 pages 161-168 for samples and tips.
Submit your list of interviewees and the email to the Capstone
Project 2 Dropbox folder on D2L.
CSS120 Professional CommunicationCall Center Project 3Are .docx

Más contenido relacionado

Similar a CSS120 Professional CommunicationCall Center Project 3Are .docx

Pre-Calculus Midterm ExamScore ______ ______Name _______.docx
Pre-Calculus Midterm ExamScore ______  ______Name _______.docxPre-Calculus Midterm ExamScore ______  ______Name _______.docx
Pre-Calculus Midterm ExamScore ______ ______Name _______.docx
harrisonhoward80223
 
Exposure Interval Initial Risk Assessment (with exist.docx
Exposure Interval    Initial Risk Assessment (with exist.docxExposure Interval    Initial Risk Assessment (with exist.docx
Exposure Interval Initial Risk Assessment (with exist.docx
ssuser454af01
 
Business Canvas and SWOT Analysis For mo.docx
             Business Canvas and SWOT Analysis   For mo.docx             Business Canvas and SWOT Analysis   For mo.docx
Business Canvas and SWOT Analysis For mo.docx
hallettfaustina
 
ECO 303 1 of 3Stony Brook University Fall 2016Alejandro .docx
ECO 303 1 of 3Stony Brook University Fall 2016Alejandro .docxECO 303 1 of 3Stony Brook University Fall 2016Alejandro .docx
ECO 303 1 of 3Stony Brook University Fall 2016Alejandro .docx
SALU18
 
Project Management CaseYou are working for a large, apparel desi.docx
Project Management CaseYou are working for a large, apparel desi.docxProject Management CaseYou are working for a large, apparel desi.docx
Project Management CaseYou are working for a large, apparel desi.docx
briancrawford30935
 

Similar a CSS120 Professional CommunicationCall Center Project 3Are .docx (15)

Microeconomics cost numerical.pptx
Microeconomics cost numerical.pptxMicroeconomics cost numerical.pptx
Microeconomics cost numerical.pptx
 
Pre-Calculus Midterm ExamScore ______ ______Name _______.docx
Pre-Calculus Midterm ExamScore ______  ______Name _______.docxPre-Calculus Midterm ExamScore ______  ______Name _______.docx
Pre-Calculus Midterm ExamScore ______ ______Name _______.docx
 
Exposure Interval Initial Risk Assessment (with exist.docx
Exposure Interval    Initial Risk Assessment (with exist.docxExposure Interval    Initial Risk Assessment (with exist.docx
Exposure Interval Initial Risk Assessment (with exist.docx
 
Topic 7 perfect competition revision (3)
Topic 7  perfect competition  revision (3)Topic 7  perfect competition  revision (3)
Topic 7 perfect competition revision (3)
 
Topic 7 perfect competition revision (3)
Topic 7  perfect competition  revision (3)Topic 7  perfect competition  revision (3)
Topic 7 perfect competition revision (3)
 
Business Canvas and SWOT Analysis For mo.docx
             Business Canvas and SWOT Analysis   For mo.docx             Business Canvas and SWOT Analysis   For mo.docx
Business Canvas and SWOT Analysis For mo.docx
 
Math 540 final exam new spring 2016
Math 540 final exam new spring 2016Math 540 final exam new spring 2016
Math 540 final exam new spring 2016
 
Math 540 final exam new spring 2016
Math 540 final exam new spring 2016Math 540 final exam new spring 2016
Math 540 final exam new spring 2016
 
Math 540 final exam new spring 2016
Math 540 final exam new spring 2016Math 540 final exam new spring 2016
Math 540 final exam new spring 2016
 
Learning curve
Learning curveLearning curve
Learning curve
 
Optimal Use:Employment of Two Variable Inputs.pptx
Optimal Use:Employment of Two Variable Inputs.pptxOptimal Use:Employment of Two Variable Inputs.pptx
Optimal Use:Employment of Two Variable Inputs.pptx
 
ECO 303 1 of 3Stony Brook University Fall 2016Alejandro .docx
ECO 303 1 of 3Stony Brook University Fall 2016Alejandro .docxECO 303 1 of 3Stony Brook University Fall 2016Alejandro .docx
ECO 303 1 of 3Stony Brook University Fall 2016Alejandro .docx
 
Bis 155 Exceptional Education / snaptutorial.com
Bis 155 Exceptional Education / snaptutorial.comBis 155 Exceptional Education / snaptutorial.com
Bis 155 Exceptional Education / snaptutorial.com
 
Project Management CaseYou are working for a large, apparel desi.docx
Project Management CaseYou are working for a large, apparel desi.docxProject Management CaseYou are working for a large, apparel desi.docx
Project Management CaseYou are working for a large, apparel desi.docx
 
Chapter 13
Chapter 13Chapter 13
Chapter 13
 

Más de annettsparrow

Initial Post  (250 words)Read and interpret the short story .docx
Initial Post  (250 words)Read and interpret the short story .docxInitial Post  (250 words)Read and interpret the short story .docx
Initial Post  (250 words)Read and interpret the short story .docx
annettsparrow
 
initial post one paragraph intext citation and reference Require.docx
initial post one paragraph intext citation and reference Require.docxinitial post one paragraph intext citation and reference Require.docx
initial post one paragraph intext citation and reference Require.docx
annettsparrow
 
Infrastructure SecurityChapter 10Principles of Compute.docx
Infrastructure SecurityChapter 10Principles of Compute.docxInfrastructure SecurityChapter 10Principles of Compute.docx
Infrastructure SecurityChapter 10Principles of Compute.docx
annettsparrow
 
Inital post please respond for the above post question one page with.docx
Inital post please respond for the above post question one page with.docxInital post please respond for the above post question one page with.docx
Inital post please respond for the above post question one page with.docx
annettsparrow
 
Infornnation Technologyin Hunnan ResourceAnEmpirical .docx
Infornnation Technologyin Hunnan ResourceAnEmpirical .docxInfornnation Technologyin Hunnan ResourceAnEmpirical .docx
Infornnation Technologyin Hunnan ResourceAnEmpirical .docx
annettsparrow
 
INFORMED CONSENT LETTER Page 1 of 2 SELF CONSENT .docx
INFORMED CONSENT LETTER  Page 1 of 2 SELF CONSENT .docxINFORMED CONSENT LETTER  Page 1 of 2 SELF CONSENT .docx
INFORMED CONSENT LETTER Page 1 of 2 SELF CONSENT .docx
annettsparrow
 
INFORMATIONGOVERNANCEFounded in 1807, John W.docx
INFORMATIONGOVERNANCEFounded in 1807, John W.docxINFORMATIONGOVERNANCEFounded in 1807, John W.docx
INFORMATIONGOVERNANCEFounded in 1807, John W.docx
annettsparrow
 
Informative Presentation Delivery OutlineI. HeaderSpeec.docx
Informative Presentation Delivery OutlineI.  HeaderSpeec.docxInformative Presentation Delivery OutlineI.  HeaderSpeec.docx
Informative Presentation Delivery OutlineI. HeaderSpeec.docx
annettsparrow
 
INFORMATION THAT SHOULD GO INTO PROCESS RECORDING FOR MICRO WORK.docx
INFORMATION THAT SHOULD GO INTO PROCESS RECORDING FOR MICRO WORK.docxINFORMATION THAT SHOULD GO INTO PROCESS RECORDING FOR MICRO WORK.docx
INFORMATION THAT SHOULD GO INTO PROCESS RECORDING FOR MICRO WORK.docx
annettsparrow
 

Más de annettsparrow (20)

Initial Post  (250 words)Read and interpret the short story .docx
Initial Post  (250 words)Read and interpret the short story .docxInitial Post  (250 words)Read and interpret the short story .docx
Initial Post  (250 words)Read and interpret the short story .docx
 
initial post one paragraph intext citation and reference Require.docx
initial post one paragraph intext citation and reference Require.docxinitial post one paragraph intext citation and reference Require.docx
initial post one paragraph intext citation and reference Require.docx
 
Initial Post InstructionsTriggers are ethnocentric responses to .docx
Initial Post InstructionsTriggers are ethnocentric responses to .docxInitial Post InstructionsTriggers are ethnocentric responses to .docx
Initial Post InstructionsTriggers are ethnocentric responses to .docx
 
Initial Post InstructionsFor the initial post,consider thr.docx
Initial Post InstructionsFor the initial post,consider thr.docxInitial Post InstructionsFor the initial post,consider thr.docx
Initial Post InstructionsFor the initial post,consider thr.docx
 
Initial Post InstructionsFor the initial post, choose and ad.docx
Initial Post InstructionsFor the initial post, choose and ad.docxInitial Post InstructionsFor the initial post, choose and ad.docx
Initial Post InstructionsFor the initial post, choose and ad.docx
 
Initial Post InstructionsDiscuss the differences and similaritie.docx
Initial Post InstructionsDiscuss the differences and similaritie.docxInitial Post InstructionsDiscuss the differences and similaritie.docx
Initial Post InstructionsDiscuss the differences and similaritie.docx
 
Initial Post InstructionsAs we jump into the world of Alge.docx
Initial Post InstructionsAs we jump into the world of Alge.docxInitial Post InstructionsAs we jump into the world of Alge.docx
Initial Post InstructionsAs we jump into the world of Alge.docx
 
Initial Post InstructionsFor the initial post, respond to one .docx
Initial Post InstructionsFor the initial post, respond to one .docxInitial Post InstructionsFor the initial post, respond to one .docx
Initial Post InstructionsFor the initial post, respond to one .docx
 
Initial Post InstructionsAgenda setting can be a difficult t.docx
Initial Post InstructionsAgenda setting can be a difficult t.docxInitial Post InstructionsAgenda setting can be a difficult t.docx
Initial Post InstructionsAgenda setting can be a difficult t.docx
 
Initial Post Identify all the components of a cell. Describe the fu.docx
Initial Post Identify all the components of a cell. Describe the fu.docxInitial Post Identify all the components of a cell. Describe the fu.docx
Initial Post Identify all the components of a cell. Describe the fu.docx
 
Initial Discussion Board Post Compare and contrast life for col.docx
Initial Discussion Board Post Compare and contrast life for col.docxInitial Discussion Board Post Compare and contrast life for col.docx
Initial Discussion Board Post Compare and contrast life for col.docx
 
Infrastructure SecurityChapter 10Principles of Compute.docx
Infrastructure SecurityChapter 10Principles of Compute.docxInfrastructure SecurityChapter 10Principles of Compute.docx
Infrastructure SecurityChapter 10Principles of Compute.docx
 
Inital post please respond for the above post question one page with.docx
Inital post please respond for the above post question one page with.docxInital post please respond for the above post question one page with.docx
Inital post please respond for the above post question one page with.docx
 
Infornnation Technologyin Hunnan ResourceAnEmpirical .docx
Infornnation Technologyin Hunnan ResourceAnEmpirical .docxInfornnation Technologyin Hunnan ResourceAnEmpirical .docx
Infornnation Technologyin Hunnan ResourceAnEmpirical .docx
 
INFORMED CONSENT LETTER Page 1 of 2 SELF CONSENT .docx
INFORMED CONSENT LETTER  Page 1 of 2 SELF CONSENT .docxINFORMED CONSENT LETTER  Page 1 of 2 SELF CONSENT .docx
INFORMED CONSENT LETTER Page 1 of 2 SELF CONSENT .docx
 
INFORMATIONGOVERNANCEFounded in 1807, John W.docx
INFORMATIONGOVERNANCEFounded in 1807, John W.docxINFORMATIONGOVERNANCEFounded in 1807, John W.docx
INFORMATIONGOVERNANCEFounded in 1807, John W.docx
 
Informative Presentation Delivery OutlineI. HeaderSpeec.docx
Informative Presentation Delivery OutlineI.  HeaderSpeec.docxInformative Presentation Delivery OutlineI.  HeaderSpeec.docx
Informative Presentation Delivery OutlineI. HeaderSpeec.docx
 
Informed Consent FormBy the due date assigned, submit the Inform.docx
Informed Consent FormBy the due date assigned, submit the Inform.docxInformed Consent FormBy the due date assigned, submit the Inform.docx
Informed Consent FormBy the due date assigned, submit the Inform.docx
 
INFORMATION THAT SHOULD GO INTO PROCESS RECORDING FOR MICRO WORK.docx
INFORMATION THAT SHOULD GO INTO PROCESS RECORDING FOR MICRO WORK.docxINFORMATION THAT SHOULD GO INTO PROCESS RECORDING FOR MICRO WORK.docx
INFORMATION THAT SHOULD GO INTO PROCESS RECORDING FOR MICRO WORK.docx
 
Information Technology Capstone ProjectIn this course, learners .docx
Information Technology Capstone ProjectIn this course, learners .docxInformation Technology Capstone ProjectIn this course, learners .docx
Information Technology Capstone ProjectIn this course, learners .docx
 

Último

The basics of sentences session 3pptx.pptx
The basics of sentences session 3pptx.pptxThe basics of sentences session 3pptx.pptx
The basics of sentences session 3pptx.pptx
heathfieldcps1
 

Último (20)

The basics of sentences session 3pptx.pptx
The basics of sentences session 3pptx.pptxThe basics of sentences session 3pptx.pptx
The basics of sentences session 3pptx.pptx
 
ICT Role in 21st Century Education & its Challenges.pptx
ICT Role in 21st Century Education & its Challenges.pptxICT Role in 21st Century Education & its Challenges.pptx
ICT Role in 21st Century Education & its Challenges.pptx
 
Holdier Curriculum Vitae (April 2024).pdf
Holdier Curriculum Vitae (April 2024).pdfHoldier Curriculum Vitae (April 2024).pdf
Holdier Curriculum Vitae (April 2024).pdf
 
Introduction to Nonprofit Accounting: The Basics
Introduction to Nonprofit Accounting: The BasicsIntroduction to Nonprofit Accounting: The Basics
Introduction to Nonprofit Accounting: The Basics
 
Python Notes for mca i year students osmania university.docx
Python Notes for mca i year students osmania university.docxPython Notes for mca i year students osmania university.docx
Python Notes for mca i year students osmania university.docx
 
Spatium Project Simulation student brief
Spatium Project Simulation student briefSpatium Project Simulation student brief
Spatium Project Simulation student brief
 
Sociology 101 Demonstration of Learning Exhibit
Sociology 101 Demonstration of Learning ExhibitSociology 101 Demonstration of Learning Exhibit
Sociology 101 Demonstration of Learning Exhibit
 
Basic Civil Engineering first year Notes- Chapter 4 Building.pptx
Basic Civil Engineering first year Notes- Chapter 4 Building.pptxBasic Civil Engineering first year Notes- Chapter 4 Building.pptx
Basic Civil Engineering first year Notes- Chapter 4 Building.pptx
 
Jamworks pilot and AI at Jisc (20/03/2024)
Jamworks pilot and AI at Jisc (20/03/2024)Jamworks pilot and AI at Jisc (20/03/2024)
Jamworks pilot and AI at Jisc (20/03/2024)
 
Graduate Outcomes Presentation Slides - English
Graduate Outcomes Presentation Slides - EnglishGraduate Outcomes Presentation Slides - English
Graduate Outcomes Presentation Slides - English
 
2024-NATIONAL-LEARNING-CAMP-AND-OTHER.pptx
2024-NATIONAL-LEARNING-CAMP-AND-OTHER.pptx2024-NATIONAL-LEARNING-CAMP-AND-OTHER.pptx
2024-NATIONAL-LEARNING-CAMP-AND-OTHER.pptx
 
HMCS Max Bernays Pre-Deployment Brief (May 2024).pptx
HMCS Max Bernays Pre-Deployment Brief (May 2024).pptxHMCS Max Bernays Pre-Deployment Brief (May 2024).pptx
HMCS Max Bernays Pre-Deployment Brief (May 2024).pptx
 
Making communications land - Are they received and understood as intended? we...
Making communications land - Are they received and understood as intended? we...Making communications land - Are they received and understood as intended? we...
Making communications land - Are they received and understood as intended? we...
 
UGC NET Paper 1 Mathematical Reasoning & Aptitude.pdf
UGC NET Paper 1 Mathematical Reasoning & Aptitude.pdfUGC NET Paper 1 Mathematical Reasoning & Aptitude.pdf
UGC NET Paper 1 Mathematical Reasoning & Aptitude.pdf
 
REMIFENTANIL: An Ultra short acting opioid.pptx
REMIFENTANIL: An Ultra short acting opioid.pptxREMIFENTANIL: An Ultra short acting opioid.pptx
REMIFENTANIL: An Ultra short acting opioid.pptx
 
Micro-Scholarship, What it is, How can it help me.pdf
Micro-Scholarship, What it is, How can it help me.pdfMicro-Scholarship, What it is, How can it help me.pdf
Micro-Scholarship, What it is, How can it help me.pdf
 
How to setup Pycharm environment for Odoo 17.pptx
How to setup Pycharm environment for Odoo 17.pptxHow to setup Pycharm environment for Odoo 17.pptx
How to setup Pycharm environment for Odoo 17.pptx
 
Key note speaker Neum_Admir Softic_ENG.pdf
Key note speaker Neum_Admir Softic_ENG.pdfKey note speaker Neum_Admir Softic_ENG.pdf
Key note speaker Neum_Admir Softic_ENG.pdf
 
General Principles of Intellectual Property: Concepts of Intellectual Proper...
General Principles of Intellectual Property: Concepts of Intellectual  Proper...General Principles of Intellectual Property: Concepts of Intellectual  Proper...
General Principles of Intellectual Property: Concepts of Intellectual Proper...
 
Sensory_Experience_and_Emotional_Resonance_in_Gabriel_Okaras_The_Piano_and_Th...
Sensory_Experience_and_Emotional_Resonance_in_Gabriel_Okaras_The_Piano_and_Th...Sensory_Experience_and_Emotional_Resonance_in_Gabriel_Okaras_The_Piano_and_Th...
Sensory_Experience_and_Emotional_Resonance_in_Gabriel_Okaras_The_Piano_and_Th...
 

CSS120 Professional CommunicationCall Center Project 3Are .docx

  • 1. CSS120 Professional Communication/Call Center: Project 3 Are You a Left Brain or Right Brain? Project 3. Are You a Left Brain or Right Brain? Complete the Left Brain, Right Brain exercise on page 216. Are you a left brain or right brain? Do you agree or disagree with your results? Why or Why not? Staying calm when faced with a difficult situation requires that you have good habits in place for dealing with pressure. Write two paragraphs (3 to 5 sentences) describing what techniques you use to calm yourself when facing a difficult situation. Briefly describe the benefits you derive from these habits. Reference chapter 5 page 203-209 in your response and include what additional techniques you can incorporate in your habit. Submit your writing to the Project 3 Dropbox folder on D2L. 1. If the law of diminishing returns did not apply, how would that change the total production of a product like wheat? 2. Given the cost information listed in the table below: a. calculate total cost and then, on graph paper, plot the total fixed, total variable, and total cost schedules. b. is this cost information for the short or long run; how can you tell?
  • 2. c. using the costs provided in the table, calculate average fixed, average variable, average total, and marginal cost. d. graph your answers to part c. (do not put them on the same graph used for part a). e. at approximately what level of output does marginal cost begin to increase? f. why does marginal cost begin to increase at the output level you identified in part e? Q TFC ($) TVC ($) TC ($) 0 120 0 1 120 60 2 120 80 3 120 90
  • 3. 4 120 105 5 120 140 6 120 210 3. Suppose a firm’s technology is described by a production function where the quantity produced is equal to the square root of capital times labor (that is, Q = √(L●K) a. Using graph paper, draw the isoquant for three different levels of output: 2, 4, and 6 units (hint: you will need to find different combinations of L and K that will make Q equal these output values. For example, both L=1, K=4 and L=2, K=2 make Q=2, so both of these combinations of L and K are on the Q=2 isoquant.) b. Suppose the price of L and K is $3/hour. On your graph, show isocost lines corresponding to total costs of $12, $24, and $36. Using the isoquants and isocost lines, locate three points on the expansion path and draw the expansion path. c. Does this production function exhibit increasing, decreasing, or constant returns to scale? d. Using the three points you found on the expansion path,
  • 4. calculate the firm’s long run total and average costs at each of those points. Summarize your calculations in a table and in a graph. e. Suppose amount of capital the firm uses in the short run is fixed at 4 units. On your isoquant/isocost diagram illustrate the three points corresponding to output levels of 2, 4, and 6. Calculate the firm’s short run total and average costs and draw them in the same graph with the long run costs. f. Why do the short run and long run average cost curves have different shapes? 4. Suppose a firm’s technology is described by a production function where the quantity produced is equal to the square root of capital times labor (that is, Q = √(L●K) a. Using graph paper, draw the isoquant for output = 8 units. b. Suppose the firm has $128 to spend on its variable inputs and the price of L and K is $8. On the same graph on which you drew the isoquant, draw the isocost line. What is the optimal combination of labor and capital? c. Suppose the price of labor increases to $16 and the price of capital decreases to $4. draw the new isocost line and determine the new optimal combination of labor and capital. d. Repeat c) for price of labor at $4 and capital at $16.
  • 5. 5. Fill in the cost information missing in the table below Q FC VC TC MC AFC AVC ATC 1 428.5 2 340 67.5 248 3 68.5 4
  • 7. 78.5 9 292.5 70.28 10 300 640 30 6. Suppose a firm can spend up to $1000 acquiring two variable inputs, labor (L) and capital (K). The price of each unit of labor is $25. The price of each unit of capital is $100. a. draw the firm’s isocost line. b. suppose the firm had $2000; draw the new isocost line. c. suppose the firm had $500; draw the new isocost line. 7. What is does the term “marginal rate of technical substitution” refer to? Illustrate. 8. Why is a firm’s marginal cost unaffected by an increase in
  • 8. fixed costs? 9. This table illustrates a __________ production function because capital and labor _________. Units of Capital, K Units of Labor, L 1 2 3 4 1 50.0 66.7 75.5 80.0 2 66.7 100.0 120.0 133.3 3 75.0 120.0 150.0 171.4 4 80.0 133.3 171.4 200.0 10. Suppose the wage rate is $25 per hour and the rent on capital is $50 per hour. The equation for the isocost line is: 11. Suppose a firm is producing 2,475 units of output by hiring 50 workers (W = $20 per hour) and 25 units of capital (R = $10
  • 9. per hour). The marginal product of labor and marginal product of capital are 40 and 25, respectively. Is the firm minimizing the cost of producing 2,475 units of output? If not, how should the firm change its usage of L and K? 12. Suppose a firm's short-run production function is given by Q = 16L0.8. What is the marginal product of the fourth worker? 13. Amazon’s fulfillment center in Salem can sort and pack boxes. The boxes can be produced using only robots (K), workers (L), or a combination of the two. K and L are perfect substitutes for one another. Assume Amazon has TC = $100, K costs $10/robot and L costs $20/workers. How much K & L will Amazon use? Draw isoquants and an isocost line as part of your answer. 14. On separate graphs, draw a SR total product curve, a SR marginal product curve, a SR total cost curve, and a SR marginal cost curve. On the graphs show what economic concept they have in common. 15. What is the marginal-average rule? 16. The firm's long-run total cost is given by LTC = 100Q – 10Q2 + (1/3)Q3, and long-run marginal cost is given by LMC = 100 – 20Q + Q2. At what output level does the firm have economies of scale? 17. Producing 200 units of good Y and 100 units of good X in the same factory costs the firm $50,000. In contrast, producing 200 units of good Y in one factory and 100 units of good X in another factory costs the firm $75,000. So if the firm produces the two goods together, it achieves: 18. The total cost of producing 7 units of output is: 19.
  • 10. The firm's average total cost curve appears in which of the following panels? 20. Suppose a firm's total cost is given by TC = 100 + 4Q + 2Q2. Write the expression or equation for TFC, TVC, ATC, AFC, AVC, and MC. CSS120 Professional Communication/Call Center: Capstone Project Part 2 Part 2. The Service Desk Interview. The capstone project is designed to be an active learning experience that brings together all of the concepts and techniques described in this textbook in a real-world setting. This project involves interviewing a Customer Service desk representative. There are a number of task required to be completed before securing an interview. Identify three potential Interviewees 1. Name 1. Title 1. Contact Information 1. Business / Company Communication to the interviewee ahead of time is imperative to conducting a successful interview. Develop an introduction email correspondence, i.e. letter or memo: A. Introduce yourself B. Provide capstone project overview C. Request Interview with recommended dates D. Create a proposed timeline to schedule and complete the interview Reference chapter 4 pages 161-168 for samples and tips. Submit your list of interviewees and the email to the Capstone Project 2 Dropbox folder on D2L.