â¢ Assume a firm has an inaccurate or inadequate performance measurement system. What types of decision errors might this cause the firm to make? Be specific, using personal workplace examples if you have any.

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You are the president and chief executive officer of a family-owned manufacturing firm with assets of $45 million. The company articles of incorporation and state law place no restrictions on the sale stock to outsiders. An unexpected opportunity to expand arises that will require an additional investment of $ 14 million. A commitment must be made quickly if this opportunity is to be taken. Existing stockholders are not in a position to provide additional investment. You wish to maintain family control of the firm regardless of which form of financing you might undertake. Asa first step, you decide to contact an investment banking firm.

a) What considerations might be important in the selection of an investment banking firm?
b) A member of your board has asked if you have considered competitive bids for the distribution of your securities compared to a negotiated contract with a particular firm. What factors are involved in this decision?
c) Assuming that you have decided upon a negotiated contract, what are the first questions that you would ask of the firm chosen to represent you?
d) As the investment banker, what would be your first actions before offering advice?
e) Assuming the investment banking firm is willing to distribute your securities, describe the alternative plans that might be included in a contract with the banking firm.
f) How does the investment banking firm establish a selling strategy?
g) How might the investment banking firm protect itself against a drop in the price of the security during the selling process?
h) What follow-up services will be provided by the banking firm following a successful distribution of the securities?
i) Three years later, as an individual investor, you decide to add your holding of the security but only at a price that you consider appropriate. What form of order might you place with your broker?

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1. It is extremely important for a firm to be able to identify aset of âoptimal production methods or technologiesâ. Explain whythis is necessary. Be specific.

2. It has been suggested that a profit maximizing firm shouldpossess and master an information or knowledge set that includesamong many things, the selling price of its output. Explain whythis is necessary. Be specific.

3. Why is it the case that a firmâs total variable cost curvebegins at the origin AND slopes upwards from left to right? Explainboth scenarios. Be specific.

4. What circumstance or development in the production functiondiscussed in Chapter 7 of the text best explains the varioussegments of the firmâs marginal cost curve? Explain fully. Bespecific.

5. Describe the term âprice takerâ and explain why it applies tothe perfectly competitive firm. Explain fully. Be specific.

6. Explain why marginal revenue is so important to any firm. Bespecific.

7. Suppose that a firm is in the âshut-downâ mode and is facing allof the requisite conditions associated with it. Describe two (2)scenarios wherein the firm might decide open again and resumeproduction. Be specific.

8. In the case of a firmâs long run average total cost curve: 1)identify the INdependent and DEpendent variables and 2) describethe behavior of costs per unit in its downward-slopingsegment.

9. Describe the long-run impact/role of profits and losses in anyindustry. Be specific

10. Describe: 1) the process a firm should use in determiningwhether a particular production method should/should not be usedAND 2) a factor or circumstance that could change the choice ofproduction methods. Be specific in providing an appropriateresponse.

coffeegoose920

Suppose that you are asked to conduct a study to determine whether smaller class sizes lead to an improved student performance of fourth-graders. (i) If you could conduct an experiment you want, what would you do? Be specific. (ii) More realistically, suppose you can collect observational data on several thousand fourth graders in a given state. You can obtain the size of their fourth-grade class and a standardized test score taken at the end of fourth grade. Why might you expect a negative correlation between class size and test score? (iii) Would a negative correlation necessarily show that smaller class sizes cause better performance? Explain.