Section I: Monopoly pricing (50 points)
Milwaukee Utilities has a complete monopoly over the generation and transmission of energy. The following information on this company is given as follows:
Demand = 750 – 10Q
Average cost = 500 – 2Q
Where Q is measured in megawatts and prices and costs are measured in dollars.
a.) Does this firm’s production process satisfy the condition for a natural monopoly? When explaining your answer assume two hypothetical smaller firms q1 and q2 generate 5 and 10 megawatts of energy, respectively. (Hint, Milwaukee Utilities is a monopolist so it generates the sum of the energy generated by the two smaller firms. Hence, the smaller firms’ output is a subset of Milwaukee Utilities’ output.) (Hint, the term’production process’ used in question Ia, is interpreted as ‘cost characteristics’, i.e, do the cost characteristics satisfy the condition for a natural monopoly)
b.) How much energy would be sold and at what price if the monopolist sets price as a profit maximizing monopolist? Note: The marginal cost curve is twice as steep as the average cost curve.
c.) What is the firm’s profits at the monopoly price determined in part b?
d.) Now, suppose the monopolist adopts a two-part tariff pricing scheme for its customers such that the access fee is equal to the profit-maximizing marginal cost and the user fee is the difference between the profit maximizing monopoly price and marginal cost. Please calculate the user and access fees based on this information.
e.) Now suppose the monopolist practices 3rd degree price discrimination and charges the profit-maximizing price to the high reservation price customers and charges a 10 percent discount on the monopoly price to low reservation price customers. Note, low reservation price customers are those who would never pay the monopoly price. What is the price charged to the low reservation price customers? What is the profit generated by charging these prices? Are the profits greater than the profits in part ‘c’? Please explain.
f.) Now suppose the state public utility commission requires this monopolist to charge the competitive price, how much energy would be sold and at what price? What are the monopolist’s profits?
g.) Based on the profits obtained when forcing this monopolist to charge a competitive price, the regulator now requires this monopoly to set price equal to average cost (this is called second-best pricing). What is the monopolist’s profits when charging second-best prices?
Please show all work to receive full credit.
Section II: Game theoretic approach toward analyzing output behavior of rivals (50 points)
Firms X and Y are duopolists facing the same two strategy choices. They can either tacitly collude or they can compete in a Cournot fashion. The market demand for their product, as well as their respective cost curves are as follows:
C(qx) = C(qy) =25qi (firm X and Y’s total cost curves), where i=x or y
MC(qy) =MC(qy) = 25 (firm X and Y’s marginal cost curves)
P=50-Q, (market demand), where Q = qx + qy .
C(q) and have the same cost structure: marginal cost and average cost both=25
a.) Calculate the respective output levels of each firm if they collude to set monopoly prices.
b.) Calculate the respective output levels of each firm if they adhere to the Cournot model.
c.) What four possible output combinations are available in this game?
d.) Derive the for possible profit outcomes for each firm that arise from producing the four possible output combinations available in this game.
e.) Use these profit outcomes to construct a 2×2 normal representative matrix for this game.
f.) Does either firm have a dominant strategy? If so, what is it?
g.) Is there a Nash equilibrium for this game? If so, what is it?
h.) Is the outcome of this game a prisoner’s dilemma? Please Explain?
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Share Holder Analysis..
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Continue your work with the company you selected in Wk 2.
Research your company’s financial reports for 2017.
Complete a 2- to 3-page FAQ/Shareholder Analysis.
Evaluate economic conditions that influence company performance. Consider political, environmental, currency (money), global economics, and government influences on economic conditions.
Compare market conditions with the company’s performance for 2017. Conclude how the market conditions that year influenced the company’s performance, such as interest rates, Federal Reserve Bank monetary policy changes, or other market conditions relevant to the company you selected.
Analyze year-over-year performance from 2016 and 2017. Consider key metrics or ratios such as trailing PE ratio, forward PE ratio, price to book, return on assets, and return on equity in your conclusions.
Cite references to support your assignment.
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Financial Plan..
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Prepare a financial plan for the company you select for your business plan. This financial plan will be included in your final business plan in your capstone course.
Describe the business, including the type of business.
Create the business case.
Determine why funding is needed for the company.
Determine the sources of funding. Considerself-funding, borrowing, equity, venture capital, etc.
Evaluate the requirements of each funding source you determined appropriate.
Analyze the associated risks of each funding source.
Decide which sources are the best fit for your company based on the requirements of each. Justify your decision.
Estimate the cost of capital for both short-term and long-term funding sources. Research current estimated APRs for your selected sources of funding. Consider creating a table or chart to display this information.
Create a profit-and-loss statement for a 3-year period. Project revenue, stating realistic assumptions, such as growth per year, in your projections.
Estimate direct costs, including capital, marketing, labor, and supply costs.
Cite references to support your assignment.
Format your citations according to APA guidelines.
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Course Presentation Deliverable
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The final deliverable for the Course Project is a narrated presentation reflecting on:
I. Key Insights in each of these areas:
The Fraud Triangle – What examples from the case study support:
a) Pressure(s) to commit unethical actions or fraudulent activities?
b) Opportunities due to weak internal controls or rewards for bad behavior?
c) Rationalization(s) by employees and key players that minimized the consequences of bad behavior?
The Organizational Structure of LDC
a) How did you evaluate the key players’ performance?
b) How does the reporting relationships in the organization hinder fraud investigation?
The Internal Control Environment and Ethical Culture
a) Identify weaknesses in the internal control systems.
b) What evidence exists that “doing the right thing” is expected (or not) by employees?
II. Recommendations to prevent, detect and investigate fraud in these areas:
PASTURE #1: OUTLINE OF THE CASE (“WHAT IS GOING ON AT LDC?”)
Objective: The objective is to talk about LDC and identify the specific problems that exist there.
PASTURE #2: REFLECTION ON WHAT WENT WRONG (“HOW DID WE GET HERE?”)
Objective: The objective is to identify the underlying factors that existed at LDC and that likely caused or contributed to the problems identified above.
PASTURE #3: THE FINANCIAL REPORTING SUPPLY CHAIN
Objective: To evaluate each member of the financial reporting supply chain. Students will assess the overall performance of the key players in the case study.
PASTURE #4. THE FINANCIAL REPORTING ENVIRONMENT (“HOW DOES THE SYSTEM WORK, AND HOW SHOULD IT WORK?”)
Objective: To explore the internal controls systems, the roles and responsibilities of the various key players particularly their inter dependencies and the ethical culture in the company
“This course examines the nature of occupational fraud, how it is committed, and introduces actions to detect it and procedures to deter it. The course also covers how to investigate allegations of fraud in order to meet requirements of civil and/or criminal court procedures. Also examined are ethics and governance in business as fraud-prevention tools. Coursework prepares students interested in earning the Certified Fraud Examiner (CFE) credential, examining tools and techniques for gathering evidence and information during fraud examinations”
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Case Analysis – Accounting Fraud Criminology And Ethics
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Other Types of Fraud
See the “Saks Fifth Avenue” case for this question
Questions
In your opinion, was Saks’ zero tolerance policy for employee theft reasonable? Was the policy likely cost-effective? Defend your answers.
Did Saks’ anti-harassment policy and the related complaint procedure qualify as internal controls? Explain.
Identify five control activities that you would commonly find in a men’s clothing department of a major department store. Identify the control objective associated with each of these activities.
Should a company’s independent auditors be concerned with whether or not a client provides a non-hostile work environment for its employees? If your answer is “yes,” identify the specific audit issues that would be relevant in this context.
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Business Communications..
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Write a thoroughly researched paper regarding the assigned topics for each week of study for the week of class (minimum of 400 words). Use at least three (3) additional outside source to explain or expand our understanding of the subject matter beyond the information provided in the textbook. Paper should be properly formatted according to APA guidelines and include a reference page (The cover page, abstract, and reference page does not count toward word count). Be sure to use proper in-text citations for all content.
Students will need to submit a written assignment no later than Tuesday evening before class via submission to BrightSpace. On the day of class, students shall be prepared to informally discuss their papers. In the event a student is absent, the student will share his/her paper at the next class.
Complete:
1. Activity – 2.4 Soft Skills: Which competencies are most desirable? p. 75
2. Activity – 2.3 Soft skills: Personal Strengths Inventory. p. 75
2.3 Soft Skills: Personal Strengths Inventory (L.O. 1) Web When hiring future workers, employers look for hard skills (those we learn such as mastery of software applications or accountancy procedures) and soft skills. Soft skills are personal characteristics, strengths, and other assets. Studies have divided soft skills into four categories: • Thinking and problem solving • Oral and written communication• Personal qualities and work ethic • Interpersonal and teamwork YOUR TASK Using the preceding categories to guide you, identify your own soft skills, paying attention to those you think a potential employer would value. Prepare lists of at least four items in each of the four categories. For example, as evidence of problem solving, you might list a specific workplace or student problem you recognized and solved. You will want to weave these words and phrases into cover letters and résumés, which are covered in Chapter 15.
2.4 Soft Skills: Which Competencies Are Most Desirable? (L.O. 1) YOUR TASK Check job listings in your field at an online job board. Visit a job board such as Monster, CollegeRecruiter, CareerBuilder, or Indeed. Follow the instructions to search job categories and locations. Study many job listings in your field. Then prepare a list of the most frequently requested soft skills in your area of interest. Next to each item on the list, indicate the degree to which you believe you have the skill or trait mentioned. Your instructor may ask you to submit your findings and/or report to the class. If you are not satisfied with the selection at any job site, choose another
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3 Accounting Discussions
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I have three discussions. I need 200 words discussion for each and two replies for each. I will send replies later. Please send separate files for each discussion. No Plagiarism. Due in 18 hours.
Discussion Question One:
Most companies do their accounting with computer software programs. Research a technical computer or accounting or business magazine for their most current list of the best accounting software programs. Describe and compare their top four programs for their features, advantages/disadvantages, and costs. Which one would you use if you were starting a small retail store and why?
Discussion 2
You own an automobile parts company and have been approached by a leading car manufacturer to supply parts to the company. How would you determine that the car manufacturer has a good record of servicing sales and paying its suppliers? What are the signs you would look out for in the financial statements for the possibility of bad debts? What are the advantages and disadvantages of allowing customers to make purchases on credit?
Discussion 3
Inventory is a critical asset for retailers. Retail firms are at risk that their inventory will become obsolete.
What does obsolete mean?
Talk with a local retailer in your area and tell us about what they say they do to minimize this risk?
Describe how they should account for the loss from that obsolescence.
