Name: ECON 100 Fall 2015

Assignment 6 Tiring of the hustle and bustle world of high finance, you decide to return to a simpler life, and move to Jasper, a small mountain town inhabited primarily by artisans. Your new friends in Jasper draw you into their bird carving guild. They are awed by your knowledge of economics and want you to set up a company to sell their wood carved birds. The first thing you do as head of Mountain Sky Carvers of Jasper is to determine how productive the artisans are and what costs are incurred when producing wood carved birds. Please complete this assignment individually. 1. (9 points) At the first meeting of Mountain Sky Carvers of Jasper, you and your colleagues decide to lease a warehouse that can be used as a manufacturing facility for the group’s carved birds. The cost of this facility is $1,000 per month. Even though it is a small mountain community composed mainly of artists, labour is not cheap. Artists are willing to work for $2,000 per month. Use this information to complete the table in the Excel file. Calculate the average product of labour (AP), the marginal product of labour (MP), the total cost (TC), the total fixed cost (TFC), the total variable cost (TVC), the average total cost (ATC), the average fixed cost (AFC), the average variable cost (AVC), and the marginal cost (MC). 2. (7 points) Using Excel, or on the graph provided (Figure 1), plot marginal product and average product. The number of workers should be on the horizontal (x-axis). If created in Excel, print the graph, otherwise draw on the graph provided. Use the graph and table to answer the following questions: 1. At what employment level are the workers the most productive? 2. At what employment level does the business start to experience diminishing returns? Figure 1: Marginal and Average Productivity 3. At what employment level do you stop hiring additional workers? Why? 4. Explain the relationship between AP and MP. 5. Explain the relationship between MP and MC. 3. (6 points) Using Excel, or on the graph provided (Figure 2), plot total cost, total variable cost, and total fixed cost. Total product should be on the horizontal (x-axis). If created in Excel, print the graph, otherwise draw on the graph provided. Use the graph and table to answer the following questions: 1. Describe the shape of the total cost curve. Why does it have this shape? 2. Describe the shape of the total variable cost curve. Why does it have this shape? 3. Describe the shape of the total fixed cost curve. Why does it have this shape? 4. (13 points) Using Excel, or on the graph provided (Figure 3), plot average total cost, average variable cost, average fixed cost, and marginal cost. Total product should be on the horizontal (x-axis). If created in Excel, print the graph, otherwise draw on the graph provided. Use the graph and table to answer the following questions: 1. Identify the economic capacity and write it below. 2. Identify the shutdown price and write it below. 3. Identify the break even price and write it below. 4. If the price is 400, how many carved birds are produced? 5. If the price is 400, what is the total revenue? 6. If the price is 400, what is the economic profit? 7. On the graph, label the firm’s individual supply curve. 8. Describe the shape of the AFC cost curve. Why does it have this shape? 9. Describe the shape of the AVC cost curve. Why does it have this shape? 10. Describe the shape of the ATC cost curve. Why does it have this shape? 20,000 18,000 16,000 14,000 12,000 10,000 8000 6000 4000 2000 0 0 5 10 15 20 25 30 35 40 45 50 Total Product Figure 2: Total Cost, Total Fixed Cost, and Total Variable Cost 500 450 400 350 300 250 200 150 100 50 0 0 5 10 15 20 25 30 35 40 45 50 Total Product Figure 3: Average Cost, Average Fixed Cost, Average Variable Cost, and Marginal Cost 7 You will be creating a database using MS Access that could be used to organize something. But first, you will use SimNet to refresh your memory about MS Access. The minimum elements it should contain follow: • Create at least 3 tables, 2 primary tables and a related table o Consider using a concatenated key for the primary key in the related table • Impose appropriate field types and lengths on all fields • Ensure the database is in 2NF (second normal form) • Insert the 3 data integrity (data validation) checks / controls listed below: o Require that a field that is not a primary key be populated (Access automatically requires primary keys be populated.) o Impose limits on the value that can be entered into a number or currency field o Establish a list of valid values that can be used in a field • Force referential integrity between your tables • Add 1 index on a field other than a primary key (Again, Access automatically indexes primary keys.) • Create 2 queries that include this functionality, work and make sense: o Data from multiple tables o An aggregate total in the datasheet view o A sort o Complex selection criteria (uses And or Or logic) • Create 1 report • Create 1 form with a subform 8 The Role of "Play" in Learning What, according to Senge (2006), is the role of ‘play’ in learning? Do you agree or disagree with his position? Why? Share a time when ‘play’ helped you learn something more effectively, what you learned, and how you used that learning in your life. Paper must be 200 to 300 words long in APA Format, please cite correctly and references must be APA Format. 9 The square Watch the documentry "The square" and write about it in one page paper starting with summarzing it and tallking about the three major points or conflicts in the film. 10 The standard symbol for negation ('not') is ~ . So that one is easy. You have it on your keyboard.??The standard symbol for disjunction ('or') is wedge-shaped. So use lower-case 'v' on your keyboard.??The standard symbol for conjunction ('and') is a dot, larger than a period mark, and half-way between the top and bottom of a letter.?You can use a period '.' or you can ase the ampersand '&'??The standard symbol for implication ('if ... then ...') is a horseshoe shaped symbol. You can use ----> for it. What you really need is a U-shaped symbol that is roated 90 degrees counterclockwise.??The standard symbol for equivalence ('if and only if') is a triple-bar. Imagine = with another bar on top of it. That gives you a triple-bar. You can use = if you want. Exercise 1 Run both sentences through all of the sentence forms and note whether it is or is not a substitution instance of that sentence form. You don't have to write out the sentence form--just the letter which precedes it. 1. ~ [(A v B) --> C] 2. ~ [(~A v B) --> C] Sentence forms a) p b) ~p c) p v q d) p --> q e) ~ p v q f) ~ p --> q g) ~ p --> ~ q h) ~ (p v q) i) ~ (p --> q) j) ~ (~p --> q_ k) (p v q) --> r l) p v (q --> r) m) (~p v q) --> r n) ~ (p v q) --> r o) (p v q) --> ~ r p) ~ [p v (q --> r)] q) ~ [(p v q) --> r] Exercise 2 Construct truth tables from the following sentences: 1) ~A = [(B --> A) . [(A --> B) --> ~A)] 2) A= - A 3) ( A . ~ A) --> B Exercise 3 Use MP, MT, DS and HS to prove that the following arguments are valid. You must include the premises in your proof. (1) 1. ~ R 2. S --> R / :. ~ S (2) 1. ~ (H . K) 2. R v (H . K) / :. R (3) 1. R --> S 2. T --> R 3. ~S / :. ~ T (4) 1. ~G -->( A v B) 2. ~B 3. A --> D 4. ~ G /:. D (5) 1. A --> (B --> C) 2. ~C 3. ~D -->A 4. C v ~ D /:. ~ B Exercise 4 Using the eighteen valid argument forms, prove that the following arguments are valid (These proofs are very basic. None requires more than six additional lines to complete). You must include the premises in your proof. (1) 1. (A . B) --> C 2. A/:. B --> C (2) 1. ~ M v N 2. ~ R --> ~ N /:. M --> R (3) 1. ~ (H v ~ K) 2. L --> H /:. L --> M (4) 1. (A . B) v (C . D) 2. ~A/:. C (5) 1. (A . B) --> C 2. A . ~ C /:. ~ B Exercise 5 Complete the following proofs using the rules for adding and removing quantifiers where appropriate. You must include the premises in your proof. (1) 1. (x) Fx v (x) ~ Gx p 2. ~(x) Fx p 3. (x) (Dx --> GX) p /:. (?x) ( ~Dx v G x) (2) 1. (x) [~Ax v (Bx .Cx)] p 2. (x) [(Ax -->Cx) -->Dx p 3. (x) (Dx --> ~ Cx) p /:. (?x) ~ Ax (3) 1. (z) [Az --> (~ Bz -->Cz)] p 2. ~Ba p/:.Aa -->Ca Exerdcise 6 Prove valid. You must include the premises in your proof. (1) 1. Ka p 2. (x) [Kx --> (y) Hy] p /:. (x)Hx (2) 1. (?x) (Ax .Bx) p 2. (y) (Ay --> Cy) p /:. (?x)(Bx .Cx) (3) 1. (x) [(Fx v Rx) --> ~ Gx] p 2. (?x) ~ (~fx . ~ Rx) p /:. (?y) ~ Gy (4) 1. (x) (Fx --. Gx) p 2. (y) (Ey -->Fy) p 3. (z) ~ (Dz . ~ Ez) p/:. (?x) Bx Exercise 7 Prove valid (note that these problems are not necessarily in order of difficulty) You must include the premises in your proof. (1) 1. ~ (x) Ax p /:. (?x)(Ax --> BX) (2) 1. (?x) Fx --> (x) ~ Gx p 2. (?x) Ex -->~(x) ~ Fx p /:.(?x)Ex -->~(?x)Gx (3) 1. (x)[(Fx v Hx) --> (Gx . Ax)] p 2. ~(x)(Ax . Gx) p /:.(?x) ~Hx