Assignment 2 Operations Decisons

2/22/2014 Rubric Detail

https://blackboard.strayer.edu/webapps/blackboard/execute/gradeRubric?mode=grid&isPopup=true&rubricCount=1&prefix=_3929800_1&course_id=_115473_1… 1/4

Show Descriptions Show Feedback

Rubric Detail You can interact with a rubric to grade in Grid View or List View. More Help

Name: ECO550 We e k 3 Assignme nt 1: De mand Estimation

Description: ECO550 We e k 3 Assignme nt 1: De mand Estimation Exit

Grid View List View

Feedback: Elasticity coefficients are incorrect. Ep = .79 Epx = .45 Epi = 1.07 Ea = 0.075 Em = 0.047

ECO550-A1-1 1. Compute the elasticities for each independent variable. Note: Write down all of your calculations. Weight: 15%

22.5(11.25%)

Unacceptable Below 70% F 0 (0%) - 20.98 (10.49%)

Fair 70-79% C 21 (10.5%) - 23.98 (11.99%)

Proficient 80-89% B 24 (12%) - 26.98 (13.49%)

Exemplary 90-100% A 27 (13.5%) - 30 (15%)

Feedback: Product is inelastic given the coefficient.

ECO550-A1-2 2. Determine the implications for each of the computed elasticities for the business in terms of short- term and long-term pricing strategies. Provide a rationale in which you cite your results. Weight: 15%

22.5(11.25%)

Unacceptable Below 70% F 0 (0%) - 20.98 (10.49%)

Fair 70-79% C 21 (10.5%) - 23.98 (11.99%)

Proficient 80-89% B 24 (12%) - 26.98 (13.49%)

Exemplary 90-100% A 27 (13.5%) - 30 (15%)

Feedback: Yes - increase in price will increase total revenue.

ECO550-A1-3 3. Recommend whether you believe that this firm should or should not cut its price to increase its market share. Provide support for your recommendation. Weight: 10%

17(8.5%)

Unacceptable Below 70% F 0 (0%) - 13.98 (6.99%)

Fair 70-79% C 14 (7%) - 15.98 (7.99%)

Proficient 80-89% B 16 (8%) - 17.98 (8.99%)

Exemplary 90-100% A 18 (9%) - 20 (10%)

ECO550-A1-4 4a. Assume that all the factors affecting demand in this model remain the same, but that the price has changed. Further assume that the price changes are 100, 200, 300, 400, 500, 600 dollars. Plot the demand curve for the firm. Weight: 5%

9.5(4.75%)

Unacceptable Below 70% F 0 (0%) - 6.98 (3.49%)

2/22/2014 Rubric Detail

https://blackboard.strayer.edu/webapps/blackboard/execute/gradeRubric?mode=grid&isPopup=true&rubricCount=1&prefix=_3929800_1&course_id=_115473_1… 2/4

Feedback: Good job.

Unacceptable Below 70% F 0 (0%) - 6.98 (3.49%)

Fair 70-79% C 7 (3.5%) - 7.98 (3.99%)

Proficient 80-89% B 8 (4%) - 8.98 (4.49%)

Exemplary 90-100% A 9 (4.5%) - 10 (5%)

Feedback: Good job.

ECO550-A1-5 4b. Assume that all the factors affecting demand in this model remain the same, but that the price has changed. Further assume that the price changes are 100, 200, 300, 400, 500, 600 dollars. Plot the corresponding supply curve on the same graph using the supply function Q = 5200 + 45P with the same prices. Weight: 5%

9.5(4.75%)

Unacceptable Below 70% F 0 (0%) - 6.98 (3.49%)

Fair 70-79% C 7 (3.5%) - 7.98 (3.99%)

Proficient 80-89% B 8 (4%) - 8.98 (4.49%)

Exemplary 90-100% A 9 (4.5%) - 10 (5%)

Feedback: Good job.

ECO550-A1-6 4c. Assume that all the factors affecting demand in this model remain the same, but that the price has changed. Further assume that the price changes are 100, 200, 300, 400, 500, 600 dollars. Determine the equilibrium price and quantity. Weight: 5%

9.5(4.75%)

Unacceptable Below 70% F 0 (0%) - 6.98 (3.49%)

Fair 70-79% C 7 (3.5%) - 7.98 (3.99%)

Proficient 80-89% B 8 (4%) - 8.98 (4.49%)

Exemplary 90-100% A 9 (4.5%) - 10 (5%)

Feedback: Short run response is less than long run response.

ECO550-A1-7 4d. Assume that all the factors affecting demand in this model remain the same, but that the price has changed. Further assume that the price changes are 100, 200, 300, 400, 500, 600 dollars. Outline the significant factors that could cause changes in supply and demand for the product. Determine the primary manner in which both the short-term and the long-term changes in market conditions could impact the demand for, and the supply, of the product. Weight: 10%

15(7.5%)

Unacceptable Below 70% F 0 (0%) - 13.98 (6.99%)

Fair 70-79% C 14 (7%) - 15.98 (7.99%)

Proficient 80-89% B 16 (8%) - 17.98 (8.99%)

Exemplary 90-100% A 18 (9%) - 20 (10%)

Feedback:

ECO550-A1-8 5. Indicate the crucial factors that could cause rightward shifts and leftward shifts of the demand and supply curves. Weight: 10%

17(8.5%)

Unacceptable Below 70% F 0 (0%) - 13.98 (6.99%)

Fair 70-79% C 14 (7%) - 15.98 (7.99%)

Proficient 80-89% B 16 (8%) - 17.98 (8.99%)

Exemplary 90-100% A 18 (9%) - 20 (10%)

2/22/2014 Rubric Detail

https://blackboard.strayer.edu/webapps/blackboard/execute/gradeRubric?mode=grid&isPopup=true&rubricCount=1&prefix=_3929800_1&course_id=_115473_1… 3/4

Feedback: Changes in Px, I, A, M, will shift dem and right or wrong, while increase in technology will increase supply and reduce price.

Feedback: 3 references

ECO550-A1-9 6. 3 references Weight: 5%

8.5(4.25%)

Unacceptable Below 70% F 0 (0%) - 6 (3%)

Fair 70-79% C 7 (3.5%) - 7.98 (3.99%)

Proficient 80-89% B 8 (4%) - 8.98 (4.49%)

Exemplary 90-100% A 9 (4.5%) - 10 (5%)

ECO550-A1-10 7. Writing Mechanics, Grammar, and Formatting Weight: 5%

9.5(4.75%)

Unacceptable Below 70% F 0 (0%) - 6.98 (3.49%)

Fair 70-79% C 7 (3.5%) - 7.98 (3.99%)

Proficient 80-89% B 8 (4%) - 8.98 (4.49%)

Exemplary 90-100% A 9 (4.5%) - 10 (5%)

Feedback: Good job

ECO550-A1-11 8. Appropriate use of APA in-text citations and reference section Weight: 5%

9.5(4.75%)

Unacceptable Below 70% F 0 (0%) - 6.98 (3.49%)

Fair 70-79% C 7 (3.5%) - 7.98 (3.99%)

Proficient 80-89% B 8 (4%) - 8.98 (4.49%)

Exemplary 90-100% A 9 (4.5%) - 10 (5%)

Feedback: Integration m ust correlate to questions. Good try.

ECO550-A1-12 9. Information Literacy / Integration of Sources Weight: 5%

8.5(4.25%)

Unacceptable Below 70% F 0 (0%) - 6.98 (3.49%)

Fair 70-79% C 7 (3.5%) - 7.98 (3.99%)

Proficient 80-89% B 8 (4%) - 8.98 (4.49%)

Exemplary 90-100% A 9 (4.5%) - 10 (5%)

Feedback:

ECO550-A1-13 10. Clarity and Coherence of Writing Weight: 5%

8.5(4.25%)

Unacceptable Below 70% F 0 (0%) - 6.98 (3.49%)

Fair 70-79% C 7 (3.5%) - 7.98 (3.99%)

Proficient 80-89% B 8 (4%) - 8.98 (4.49%)

Exemplary 90-100% A 9 (4.5%) - 10 (5%)

2/22/2014 Rubric Detail

https://blackboard.strayer.edu/webapps/blackboard/execute/gradeRubric?mode=grid&isPopup=true&rubricCount=1&prefix=_3929800_1&course_id=_115473_1… 4/4

The rubric total value of 167.00 has been overridden with a value of 170 out of 200.0.

Feedback: Dem and equation is m issing, but num bers still show downward sloping dem and curve.

Fe e dback

null

Name:ECO550 We e k 3 Assignme nt 1: De mand Estimation

Description:ECO550 We e k 3 Assignme nt 1: De mand Estimation Exit