Kemps, a typical profit maximizing dairy firm, is operating in a constant cost, perfectly competetitive industry that is in long-run equilibrium. a. draw correctly labeled side-by side graphs for the dairy market and (a) for kemps and show each of the following.(i) price and output for the industry (ii) price and output for kemps b. assume that milk is a normal good and that consumer income falls. assume that kemps continues to produce. on your graphs in part (a), show the effect of the decrease in income on each of the following in the short run. (i) price and output for the industry (ii) price and output for kemps (iii) area of loss or profit for kemps c. following the decrease in consumer income, what must be true for kemps to continue to produce in the short run? d. assume that the industry adjusts to a new long-run equilibrium. compare the following between the initial and the new long-run equilibrium. (i) price in the industry (ii) output of a typical firm (iii) the number of firms in the dairy industry

Match the following definitions to your vocabulary words. 1. separation from a main group to form a new group as a result of disunity ethnic 2. group of people that share a distinctive race, culture, heritage, or nationality discrimination 3. removal of legal and social barriers which impose separation of groups integration 4. practice that treats equal people unequally; denial of opportunities to compete for social and economic rewards stereotyping 5. acting in a biased manner; using prejudicial thinking segregation

New team of management has taken over. as a result, organizational changes from a country-club style leadership where everyone does whatever they want has changed to a more mechanistic, structured, top-down management style. what ethical issues should the employees consider and how should they go about addressing these?

While studying for the engineering economy final exam, you and two friends find yourselves craving a fresh pizza. you can't spare the time to pick up the pizza and must have it delivered. "pick-up-sticks" offers a 1-1/4-inch-thick (including toppings), 20-inch square pizza with your choice of two toppings for $15 plus 5% sales tax and a $1.50 delivery charge (no sales tax on delivery charge). "fred's" offers the round, deep-dish sasquatch, which is 20 inches in diameter. it is 1-3/4 inches thick, includes two toppings, and costs $17.25 plus 5% sales tax and free delivery. 1. what is the problem in this situation? state it in an explicit and precise manner. 2. systematically apply the seven principles of engineering economy (pp. 3-6) to the problem you have defined in part (a). 3. assuming that your common unit of measure is dollars (i.e., cost), what is the better value for getting a pizza based on the criterion of minimizing cost per unit of volume? 4. what other criteria might be used to select which pizza to purchase?