Isoquants can be convex, linear, or L-shaped. What does each of these shapes tell you about the nature of the production function? What does each of these shapes tell you about the MRTS? (For each of the following, enter the letter of the description that best describes each type of isoquant.) Convex isoquant Linear isoquant L-shaped isoquant A. The slope, or the MRTS, is constant. This means that the same number of units of one input can always be exchanged for a unit of the other input and output can be maintained. The inputs are perfect substitutes. B. Within some range, a declining number of units of one input can be substituted for a unit of the other input, and output can be maintained at the same level In this case, the MRTS is diminishing as we move down along the isoquant. C. The inputs are perfect complements, or that the firm is producing under a fixed proportions type of technology. In this case, the firm cannot give up one input in exchange for the other and still maintain the same level of output.

Suppose the following items were taken from the balance sheet of nike, inc. (all dollars are in millions.) 1. cash $ 2,316.7 7. inventory $ 2,245.6 2. accounts receivable 2,786.2 8. income taxes payable 80.3 3. common stock 2,841.1 9. equipment 1,783.8 4. notes payable 291.2 10. retained earnings 6,162.5 5. buildings 3,959.7 11. accounts payable 2,624.6 6. mortgage payable 1,092.3 perform each of the following. classify each of these items as an asset, liability, or stockholders’ equity, and determine the total dollar amount for each classification. (enter amounts in millions up to 1 decimal place, e.g. 45.5 million.) cash accounts receivable common stock notes payable buildings mortgage payable inventory income taxes payable equipment retained earnings accounts payable assets $ 13092 liability $ 4088.4 stockholders’ equity $ 9003.6 etextbook and media determine nike’s accounting equation by calculating the value of total assets, total liabilities, and total stockholders’ equity. (enter amounts in millions up to 1 decimal place, e.g. 45.5 million.) total assets = total liabilities + total stockholders’ equity

You are a manager at asda. you have been given the demand data for the past 10 weeks for swim rings for children. you decide to run multiple types of forecasting methods on the data to see which gives you the best forecast. if you were to use exponential smoothing with alpha =.8, what would be your forecast for week 22? (the forecast for week 21 was 1277.) week demand 12 1317 13 1307 14 1261 15 1258 16 1267 17 1256 18 1268 19 1277 20 1277 21 1297

Why is efficiency an important economic goal?