MBA-MSC MANAGERIAL ECONOMICS ASSIGNMENT ANSWERS QATAR 2020

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Section “A”

Answer the below questions. Each question carries 10 marks.

 1).  Discuss the supply schedule and the various factors affecting the supply in the
2).  Explain the Price elasticity with appropriate formulae. Also, explain how it will differ for elastic & inelastic
3). Demand of a product is usually very sensitive to economic variables, such as the prices and consumer income. This responsiveness of demand is elasticity. Compute elasticity in the below scenarios:
a).  Three days ago, the price of envelopes was $7 a box, and Julie was willing to buy 80 boxes. Today, the price has gone up to $7.75 a box, and Julie is now willing to buy 18 boxes. Is Julie’s demand for envelopes elastic or inelastic? What is Julie’s elasticity of demand?
b).  If Neil’s elasticity of demand for hot dogs is constantly 0.9, and he buys 4 hot dogs when the price is $1.50 per hot dog, how many will he buy when the price is $1.00 per hot dog?
 
4).  Explain the different types of Costs in a tabular format & with a well-labelled diagram
5).  Describe the various factors affecting demand and also draw the demand curve if it is perfectly inelastic and the demand for cardiac bypass surgery, given that the government pays the full cost for any
 
Section “B”

Answer the below questions. Each question carries 20 marks.

 
6).  Show in a diagram the effect on the demand curve, the supply curve, the equilibrium price, and the equilibrium quantity of each of the following
a).  The market for newspapers in your town
Case 1: The salaries of journalists go up.
Case 2: There is a big news event in your town, which is reported in the newspapers.
 
b).  The market for St. Louis Rams (a professional football team) cotton T-shirts
Case 1: The Rams win the Super Bowl
Case 2: The price of cotton increases.
 
c).  The market for the Krugman and Wells economics textbook
Case 1: Your professor makes it required reading for all of his or her students.
Case 2: Printing costs for textbooks are lowered by the use of synthetic paper.
 
7). Asian-based telecom operator recently announced that it was launching Virgin Mobile as a new telecom brand within the country. It would operate in conjunction with Etisalat and Du. Assuming the trend continues, and the government opens the market for private and foreign players. You are required to –
a).  Apply your understanding and concepts from microeconomics, to investigate and summarize the major characteristics of the emerging market form in the telecom industry.
b).  Describe and analyze the pricing policies that you would expect to find in this industry.

 
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MANAGERIAL ECONOMICS CASE STUDY ASSIGNMENT ANSWERS – 2020

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SECTION “A”
50 Marks
Answer the below questions. Each question carries 10 marks.
1).   Show 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.
a).  The market for newspapers in your town
Case 1: The salaries of journalists go up.
Case 2: There is a big news event in your town, which is reported in the newspapers.
 
b).  The market for St. Louis Rams (a professional football team) cotton T-shirts
Case 1: The Rams win the Super Bowl competition.
Case 2: The price of cotton increases.
 
c).  The market for bagels
Case 1: People realize how fattening bagels are.
Case 2: People have less time to make themselves a cooked breakfast.
 
d).  The market for the Krugman and Wells economics textbook
Case 1: Your professor makes it required reading for all of his or her students.
Case 2: Printing costs for textbooks are lowered by the use of synthetic paper.
 
2).  Explain the features of Perfect Competition with examples.
3).  Explain graphically, at what point the firm should stop hiring worker in a perfect competitive market Also, list down some of the characteristics of the market form.
4).  Demand of a product is usually very sensitive to economic variables, such as the prices and consumer income. This responsiveness of demand is Compute elasticity in the below scenarios:
a).  Yesterday, the price of envelopes was $3 a box, and Jacky was willing to buy 10 boxes. Today, the price has gone up to $3.75 a box, and Jacky is now willing to buy 8 boxes. Is Jacky’s demand for envelopes elastic or inelastic? What is Jacky’s elasticity of demand?
b).  Katy advertises to sell cookies for $4 a dozen. She sells 50 dozen and decides that she can charge more. She raises the price to $6 a dozen and sells 40 dozen. What is the elasticity of demand? Assuming that the elasticity of demand is constant, how many would she sell if the price were $10 a box?
 
5).  A market failure occurs when the supply of a good or service is insufficient to meet This results in an inefficient distribution of resources among market participants. Hence government needs to intervene to bring efficiencies. Explain any four tools available for government interventions to deal with the market failures with suitable examples.
 
SECTION “B”
Answer the below questions. Each question carries 25 marks.
1).  Answer the following:
a).  Discuss briefly the supply schedule and the various factors affecting the supply in the market.
b).  Assume the demand being perfectly inelastic and supply suddenly doubles due to innovative technique of Illustrate in a well labelled graph, the changes in the equilibrium price, and quantity, and also is it advisable to do so from supplier point of view.
 
2).  The Telecommunications Regulatory Authority (TRA) is the UAE’s 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, wireless, internet and international telecoms services. UAE-based telecom operator recently announced that it was launching Virgin Mobile as a new telecom brand within the country. Assuming the trend continues and the government opens the market for more private and foreign players. You are required to–
a).  Apply your understanding and concepts from microeconomics, to investigate and summarize the major characteristics of the emerging market form in the telecom industry.
b).  Describe and analyze the pricing policies that you would expect to find in this industry.
c).  Explain the profit maximization strategy of this market form with the help of a suitable graph.
 

 
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Interpret Transformational and Transactional Leadership in Healthcare

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Week 7 – Assignment: Interpret Transformational and Transactional Leadership in Healthcare
Instructions
 
In the quest for quality care, human resource management systems must be established—ranging from the selection of new employees to the compensation of current employees. Those systems must support the long- and short-term goals of the organization and, therefore, require transformational (developmental) and transactional (control) facets to their design and implementation.
Based on this information, prepare a paper responding to the following:
Conduct research to provide at least four examples of transformational leadership in a healthcare setting, and then explain the impact of this leadership style.
Conduct research to provide at least four examples of transactional leadership in a healthcare setting, and then explain the impact of this leadership style.
Explain how the two forms of leadership are used in a complementary manner.
Support your paper with three scholarly sources. In addition to these specified resources, other appropriate scholarly resources, including older articles, may be included.
Length: 5-7 pages, not including title and reference pages
Your paper should demonstrate thoughtful consideration of the ideas and concepts presented in the course by providing new thoughts and insights relating directly to this topic. Your response should reflect scholarly writing and current APA standards.
 
Please look over videos for additional help:
 
Outstanding Leadership
produced by Ash Quarry Library, in Learning a la Carte Series (Bendigo, Victoria: Video Education Australasia, 2009), 19 mins
5 Questions Every Leader Must Ask
directed by Timothy Armstrong, fl. 2007 (Carlsbad, CA: CRM Learning, 2007), 28 mins
Inspirational Leadership
produced by Seven Dimensions, in Workplace Excellence (Melbourne, Victoria: Seven Dimensions, 2009), 14 mins
Leadership
produced by TeleTime Video, in Going Beyond Startup: Advanced Management and Marketing Practices, Episode 3 (Lynbrook, NY: TeleTime Video, 2015), 10 mins
Criteria
Characterized four examples of transformational leadership (2 points).
Characterized four examples of transactional leadership (2 points).
Captured how the two forms of leadership are used in a complementary manner (3 points).
Included a minimum of three scholarly references, with appropriate APA formatting applied to citations and paraphrasing. Paper is 5-7 pages long not including the title and reference pages (3 points).
Total Points (10 points).

 
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Question Description respond with a substantiating response, use own references. Just like other DQ prior. You will respond twice to DQ 1 students and DQ2. __________________________________________ DQ1 Explain how operant conditioning applies in the workplace. For example, how can poor performance inadvertently be encouraged by an employer? Offer recommendations using operant conditioning principles to reinforce productive behaviors in employees. ___________________________________________ DQ2 With the end of the term upon us, what insights have you gained from the course? How will you incorporate these new ideas into your workplace? __________________________________________ #1 Student response DQ1 A basic premise of operant conditioning is that reinforcement can change behavior (Capuzzi & Stauffer, 2016). For example, if a supervisor wanted an employee to consistently continue their level of work effort, he or she might give the employee more money or increased verbal praise. Bell and Ramdass (2010) contend that managers participate in operant conditioning when they reward good behavior and performance and punish adverse or unproductive actions. The authors believe that supervisors should pay special attention to the manner in which they enforce punishment because there could be negative consequences. For example, employees can experience adverse health effects, and employees can eventually lose respect for the person responsible for discipline. If that person is an employee’s immediate supervisor, productivity levels may decrease. It may be helpful for someone in another department, perhaps HR personnel, to deliver the news. In addition, any discipline should occur away from co-workers so that the employee does not become embarrassed by the situation. This discipline should be based on a clear violation of long-established and agreed upon rules that a reasonable person could agree with and adhere to. Bell and Ramdass (2010) also recommend that supervisors affirm their trust in the employee after discipline occurs, and should be explicit when suggesting to the employee how he or she can improve behavior. Bell, R., & Ramdass, R. (2010). A model for reprimanding unproductive workplace behaviors. SuperVision, 71(3), 3–6. Capuzzi, D., & Stauffer, M. (2016). Counseling and psychotherapy. Alexandria, VA: The American Counseling Association. __________________________________________ #2 Student response DQ1 Operant conditioning can be as simple as providing feedback, consequences and rewards. Partnering whatever behavior an individual is eliciting with positive or negative feedback along with a punishment if necessary or a reward if earned is an effective way to improve behavior. The consequence must happen in a timely manner in relation to the actual behavior to ensure that the link is made. Providing a consequence to a certain behavior when the employee can no longer relate the two can be confusing and ineffective for the individual. Komaki, Minnich, Grotto, Weinshank & Kern (2011) found in their research that when they trained managers to their Operant Model of Leadership in which managers provided more hands-on sampling, feedback, and recognition, those groups performed much better than the control group. Managers were less inclined to just direct and exhort and provided less antecedents to get their point across and their employees were much more responsive (Komaki et al, 2011). If managers take the time to respond to poor performance by providing feedback, then that employee can adjust their behavior. Simple statements of acknowledging the bearer of bad news has been shown to improve employee motivation, openness, and trust to bring forth other problems that may arise (Komaki, et al, 2011). Providing rewards such as praise, recognition, time off, bonuses, or promotions, for positive behaviors will reinforce that behavior. Komaki, J. L., Minnich, M. L. R., Grotto, A. R., Weinshank, B., & Kern, M. J. (2011). Promoting Critical Operant-Based Leadership While Decreasing Ubiquitous Directives and Exhortations. Journal of Organizational Behavior Management, 31(4), 236–261. https://doi-org.uiwtx.idm.oclc.org/10.1080/0160806… __________________________________________ #1 Student response DQ2 I have learned so much from this class, and I am amazed at how much I have been able to use in my workplace. I gained a lot of insight into my co-workers, the students that I work with, and myself when it comes to motivation. I would say the most valuable insight for me has been the knowledge gained from the weekly discussion questions. Not only have I been able to learn new OB concepts, I have been able to apply them to my work, and then read the valuable perspectives of my classmates. Other valuable activities were the CAP, where I got to learn more about Vroom's theory, and the article critiques. The article critiques were very valuable to me because I was able to research the role of work motivation in areas that I am interested in (counseling, psychotherapy, and psychology). That was valuable for me because it helped me narrow my focus specific to what I would eventually like to do with my degree. __________________________________________ #2 Student response DQ2 I have a learned a lot from this course and a lot of it is things that I am going to use at work. Through the course I have looked at all of my subordinates and am trying to figure out what the best way to motivate them is. I definitely think Goal-Setting Theory was my favorite and the one that I think I can apply the most. Goal orientation in particular was something I knew nothing about that I think is so key to effective training and motivation. Smith, Jayasuriya, Caputi & Hammer (2008) research revealed that performance goal orientation had a negative association with self-efficacy while learning goal orientation had a positive association. With this information I can try to influence my personnel to go into any sort of training with a learning goal orientation mind set instead of performance. Individuals should be motivated to master skills and learn as much as possible versus trying to outperform others in the course as well. Overall, I think this class taught me a lot and the final paper will be useful in my workplace. It’s something that I can take action on and actually use to try and make my workplace better. I look forward to my next I/O psych class and hope to come out of that class with actionable information as well! Smith, R., Jayasuriya, R., Caputi, P., & Hammer, D. (2008). Exploring the role of goal theory in understanding training motivation. International Journal of Training and Development., 12(1), 5

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Question Description

 
respond with a substantiating response, use own references. Just like other DQ prior. You will respond twice to DQ 1 students and DQ2.
__________________________________________
DQ1
Explain how operant conditioning applies in the workplace. For example, how can poor performance inadvertently be encouraged by an employer? Offer recommendations using operant conditioning principles to reinforce productive behaviors in employees.
___________________________________________
DQ2
With the end of the term upon us, what insights have you gained from the course? How will you incorporate these new ideas into your workplace?
__________________________________________
#1 Student response DQ1
A basic premise of operant conditioning is that reinforcement can change behavior (Capuzzi & Stauffer, 2016). For example, if a supervisor wanted an employee to consistently continue their level of work effort, he or she might give the employee more money or increased verbal praise.
Bell and Ramdass (2010) contend that managers participate in operant conditioning when they reward good behavior and performance and punish adverse or unproductive actions. The authors believe that supervisors should pay special attention to the manner in which they enforce punishment because there could be negative consequences. For example, employees can experience adverse health effects, and employees can eventually lose respect for the person responsible for discipline. If that person is an employee’s immediate supervisor, productivity levels may decrease. It may be helpful for someone in another department, perhaps HR personnel, to deliver the news. In addition, any discipline should occur away from co-workers so that the employee does not become embarrassed by the situation. This discipline should be based on a clear violation of long-established and agreed upon rules that a reasonable person could agree with and adhere to. Bell and Ramdass (2010) also recommend that supervisors affirm their trust in the employee after discipline occurs, and should be explicit when suggesting to the employee how he or she can improve behavior.
Bell, R., & Ramdass, R. (2010). A model for reprimanding unproductive workplace behaviors. SuperVision, 71(3), 3–6.
Capuzzi, D., & Stauffer, M. (2016). Counseling and psychotherapy. Alexandria, VA: The American Counseling Association.
__________________________________________
#2 Student response DQ1
Operant conditioning can be as simple as providing feedback, consequences and rewards. Partnering whatever behavior an individual is eliciting with positive or negative feedback along with a punishment if necessary or a reward if earned is an effective way to improve behavior. The consequence must happen in a timely manner in relation to the actual behavior to ensure that the link is made. Providing a consequence to a certain behavior when the employee can no longer relate the two can be confusing and ineffective for the individual. Komaki, Minnich, Grotto, Weinshank & Kern (2011) found in their research that when they trained managers to their Operant Model of Leadership in which managers provided more hands-on sampling, feedback, and recognition, those groups performed much better than the control group. Managers were less inclined to just direct and exhort and provided less antecedents to get their point across and their employees were much more responsive (Komaki et al, 2011). If managers take the time to respond to poor performance by providing feedback, then that employee can adjust their behavior. Simple statements of acknowledging the bearer of bad news has been shown to improve employee motivation, openness, and trust to bring forth other problems that may arise (Komaki, et al, 2011). Providing rewards such as praise, recognition, time off, bonuses, or promotions, for positive behaviors will reinforce that behavior.
Komaki, J. L., Minnich, M. L. R., Grotto, A. R., Weinshank, B., & Kern, M. J. (2011). Promoting Critical Operant-Based Leadership While Decreasing Ubiquitous Directives and Exhortations. Journal of Organizational Behavior Management, 31(4), 236–261. https://doi-org.uiwtx.idm.oclc.org/10.1080/0160806…
__________________________________________
#1 Student response DQ2
I have learned so much from this class, and I am amazed at how much I have been able to use in my workplace. I gained a lot of insight into my co-workers, the students that I work with, and myself when it comes to motivation. I would say the most valuable insight for me has been the knowledge gained from the weekly discussion questions. Not only have I been able to learn new OB concepts, I have been able to apply them to my work, and then read the valuable perspectives of my classmates. Other valuable activities were the CAP, where I got to learn more about Vroom’s theory, and the article critiques. The article critiques were very valuable to me because I was able to research the role of work motivation in areas that I am interested in (counseling, psychotherapy, and psychology). That was valuable for me because it helped me narrow my focus specific to what I would eventually like to do with my degree.

__________________________________________
#2 Student response DQ2
I have a learned a lot from this course and a lot of it is things that I am going to use at work. Through the course I have looked at all of my subordinates and am trying to figure out what the best way to motivate them is. I definitely think Goal-Setting Theory was my favorite and the one that I think I can apply the most. Goal orientation in particular was something I knew nothing about that I think is so key to effective training and motivation. Smith, Jayasuriya, Caputi & Hammer (2008) research revealed that performance goal orientation had a negative association with self-efficacy while learning goal orientation had a positive association. With this information I can try to influence my personnel to go into any sort of training with a learning goal orientation mind set instead of performance. Individuals should be motivated to master skills and learn as much as possible versus trying to outperform others in the course as well. Overall, I think this class taught me a lot and the final paper will be useful in my workplace. It’s something that I can take action on and actually use to try and make my workplace better. I look forward to my next I/O psych class and hope to come out of that class with actionable information as well!
Smith, R., Jayasuriya, R., Caputi, P., & Hammer, D. (2008). Exploring the role of goal theory in understanding training motivation. International Journal of Training and Development., 12(1), 5
 
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