Month: October 2015

ECO 561 Week 2 Knowledge Check

ECO 561 Week 2 Knowledge Check

1 . Purely competitive firms increase total revenue by

  • A. increasing production
  • B. decreasing production
  • C. increasing price
  • D. decreasing price

2 . What are two ways for a competitive firm to determine the optimal level of production, that is, the level of production that will maximize profit or minimize losses?

  • A. Comparing total revenue to total cost or marginal revenue to marginal costs
  • B. Comparing average revenue to average costs or marginal revenue to marginal costs
  • C. Comparing average variable costs to price or marginal revenue to price
  • D. Comparing total revenue to average variable costs or price to average variable costs

3 . Suppose that a firm determines that its marginal revenue is greater than its marginal cost, it would be better to

  • A. increase production
  • B. decrease production
  • C. keep production the same
  • D. increase price

4 . It is profitable for a firm to continue employing additional resources as long as

  • A. Marginal Revenue Product >= Marginal Resource Cost
  • B. Marginal Revenue Product <= Marginal Resource Cost
  • C. Marginal revenue >= Marginal cost
  • D. Marginal Revenue Product >= Price

5 . As additional units are produced, the marginal revenue product falls for all firms because marginal product decreases. For firms operating in industries that are not perfectly competitive, marginal revenue product also falls because

  • A. product price falls as output increases
  • B. product price falls as output decreases
  • C. product price increases as output increases
  • D. product price increases as output decreases

6 . All things being equal, an increase in demand for a product,

  • A. increases demand for the resources used in its production
  • B. decreases demand for the resources used in its production
  • C. increases the supply of a product
  • D. decreases the supply of resources used in its production

7 . Marginal cost can be defined as the addition to _____ of one more unit of output.

  • A. total variable costs
  • B. average total costs
  • C. average variable costs
  • D. total fixed costs

8 . If a firm stars small and, over time, builds successively larger plant sizes or adds additional work space in an office, average total costs are most likely to

  • A. initially decrease, then begin to rise
  • B. initially rise, then begin to decrease
  • C. remain constant over time
  • D. continually increase

9 . Demand for resources, including labor, depend on its

  • A. productivity
  • B. profitability
  • C. availability
  • D. accessibility

10 . The primary difference between increasing- and decreasing-cost industries lies in

  • A. fixed-cost components: only increasing-cost industries have significant fixed costs
  • B. variable-cost components: only decreasing-cost industries have significant variable costs
  • C. the fact that the average total cost (ATC) of firms in increasing-cost industries will first decline and then eventually increase with output, while decreasing-cost firms experience progressively lower ATC with increased output
  • D. efficiency of production

11 . When adding labor or other factors of production, businesses may see their total product rise, but see their per-unit increase in return for each additional unit diminish. This phenomenon

  • A. occurs only for firms that do not efficiently use their factors of production
  • B. applies only to capital-intensive industries
  • C. is known as diminishing marginal product and has general market application
  • D. depends on how abundant or scarce labor is in existing factor-markets

12 . In the short run, firms should shut down if

  • A. AVC > P
  • B. ATC > P > AVC
  • C. P > ATC
  • D. P > MC

13 . When you are considering the value of a resource in its next best use, you are considering its

  • A. opportunity cost
  • B. production cost
  • C. marginal cost
  • D. price

14 . Of the four major market structures–perfectly competitive, monopolistic competition, oligopoly, monopoly–reducing variable costs of production

  • A. is not a viable option for perfectly competitive firms— or price-takers—because the per-unit profit margin is fixed by the equilibrium price
  • B. can enhance profit for all but the monopoly firm, which, because it has no competition, has little financial incentive to lower its per-unit costs
  • C. will result in significant increases in profit-margin, regardless of market structure, if coupled with significant increases in product price
  • D. enhance profit per-unit, because profit equals revenue minus cost.

Develop Community Fitness Based Health Education Program


Part 1: Prepare a 12-15 page paper using information from the readings, projects and papers throughout the course to develop a community fitness based health education program that can be used by all segments of the population (adults, children, elderly, physically challenged, and special populations) in your community.

  • The program should include theoretical foundations for program components.
  • A community needs assessment for conduciveness to physical activity.
  • A community education component regarding the benefits of physical activity and how the program can be used to satisfy the FIT concept for each segment of the population.
  • Any modifications that may be needed.
  • Equipment that will be used in the program.
  • A social marketing concept.
  • Stakeholder and community partners’ information.
  • Strategies for program implementation, monitoring, evaluation.
  • Ethical issues.
  • Why you think this program is necessary and how will it benefit the community?

Grant Writing in Criminal Justice – Assignment Instructions

Assignment Instructions 

Grant writing in criminal justice and related agencies is an acquired skill that is greatly underutilized today. Indeed, it is common for agencies to hire an outside consultant to write grant proposals or to have an officer with no formal grant-writing training improvise, often with very little success.

With regard to the neglected skill of grant writing in criminal justice, please research and then answer the following questions:

Primary Task Response: Within the Discussion Board area, write 400–600 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas:

  • Why do you think grant writing is an essential skill for criminal justice and related agencies? Explain.
  • Why do you think that this skill is underutilized today in criminal justice and related fields? Explain.
  • What are the potential benefits of having a skilled grant writer in a criminal justice or related agency? Explain.
  • How might the position of grant writer differ depending on the size of the agency?

: Employee Compensation and Benefits

This assignment consists of two (2) sections: a narrative and a PowerPoint presentation. You must submit two (2) sections for the completion of this assignment. Label each file name according to the section of the assignment it is written for.

Imagine that you have just been hired by a new company as the director of the HR department. You have been tasked to hire a new secretary for the department and to develop an employee compensation and benefits package that will be used for that position upon hire. Develop a PowerPoint presentation to present this information to your Vice President. Go to the Bureau of Labor Statistics’ (BLS) Website, located at, for information regarding organizations and pay in your geographical area.

Section 1: Narrative

Write a two to three (2-3) page paper in which you:

  1. Choose the type of organization for which you are designing the package.
  2. Develop an employee compensation and benefits package for this new position. Support your ideas for the compensation/benefits package.
  3. Use at least three (3) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as academic resources.

Section 1 of your assignment must follow these formatting requirements:

  • Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
  • Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

Section 2: Presentation

Create a twenty (20) slide PowerPoint presentation in which you:

4. Provide an overview of the employee compensation and benefits package that you developed in the narrative portion of this assignment.

5. Determine if the employee will be exempt or nonexempt and discuss how overtime will be handled.

6. Suggest other benefits that might be considered within the next few months to enhance employee performance and provide job motivation.

7. Provide information on how government regulations will influence the compensation.

8. Examine data from two (2) organizations listed in the BLS Website with packages similar to yours, focusing on salary, compensation, and benefits in order to convince upper management that your package should be accepted and implemented.

9. Describe how the competitive compensation and benefits package will align with the HRM strategy.

The specific course learning outcomes associated with this assignment are:

  • Design training and development systems to improve employee performance.

Evolution of the Human Resource Management

One role of seasoned, experienced human resources professionals is to mentor junior professionals. You have decided to share your expertise with a group of college students who are considering making human resources their profession.

Research and address the following:

  1. How has the field of human resources management evolved over the past ten years?
  2. Discuss how the HR professional acts as a strategic partner to senior leadership.
  3. Discuss the major specialty areas within the field, such as Employee Relations, Organizational and Employee Development, etc.
  4. What generally are the differences in responsibilities of an HR generalist and an HR specialist?
  5. What criteria would you recommend college students use to decide if human resources was the right profession for them?