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A group of five students has decided to form a company to publish a guide to eating establishments located in the vicinity of all major college and university campuses in the state. In planning for an initial publication of 6,000 copies, they estimated the cost of producing this book to be as follows:

Paper $ 12,000

Research 2,000

Graphics 5,000

Reproduction services 8,000

Miscellaneous 5,000

Personal computer 2,000

Desktop publishing software 500

Overhead 5,500

Binding 3,000

Shipping 2,000

By engaging in this business, the students realized that they would have to give up their summer jobs. Each student made an average of $4,000 per summer. However, they believed they could keep expenses down by doing much of the research for the book by themselves with no immediate compensation.

They decided to set the retail price of the book at $12.50 per copy. Allowing for the 20 percent discount that retail stores in their state generally required, the students anticipated a per-unit revenue of about $10.00. The director of the campus bookstore advised them that their retail price was far too high, and that a price of about $8.75 would be more reasonable for a publication of this kind.

One of the students, who was a math and statistics major, asked the bookstore manager to provide her with historical data on sales and prices of similar books. From these data, she estimated the demand for books of this kind to be

Q = 18,500 – 1,000P

Where Q = Number of books sold per year

P = Retail price of the books

a. Construct a numerical table for the retail demand curve, and plot the numbers on a graph. Calculate the elasticity of demand for the interval between $12.50 and $8.00.

b. Do you think the students should follow the store manager’s advice and price their book at $8.75? Explain. If you do not agree with this price, what would be the optimal price of the book? Explain.

c. Assuming the students decide to charge the optimal price, do you think they should proceed with this venture? Explain.

d. Assuming the student’s demand equation is accurate, offer some possible reasons why the bookstore manager would want to sell the book at the lower price of $8.75.

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Assignment Name: Unit 3 Discussion Board
Deliverable Length: 4-5 paragraphs
Details:

The Discussion Board (DB) is part of the core of online learning. Classroom discussion in an online environment requires the active participation of students and the instructor to create robust interaction and dialogue. Every student is expected to create an original response to the open-ended DB question as well as engage in dialogue by responding to posts created by others throughout the week. At the end of each unit, DB participation will be assessed based on both level of engagement and the quality of the contribution to the discussion.

At a minimum, each student will be expected to post an original and thoughtful response to the DB question and contribute to the weekly dialogue by responding to at least two other posts from students. The first contribution must be posted before midnight (Central Time) on Wednesday of each week. Two additional responses are required after Wednesday of each week. Students are highly encouraged to engage on the Discussion Board early and often, as that is the primary way the university tracks class attendance and participation.

The purpose of the Discussion Board is to allow students to learn through sharing ideas and experiences as they relate to course content and the DB question. Because it is not possible to engage in two-way dialogue after a conversation has ended, no posts to the DB will be accepted after the end of each unit.

Background:

Biotechnology allows the use of living organisms or their processes for human needs or purposes. Currently, this topic includes such general examples as cloning, stem cells (adult, umbilical cord, and embryonic), DNA fingerprinting, biological warfare, bioremediation, genetically modified organisms, vaccines, and transgenic plants and animals to name a few. In this assignment, you will explore specific examples of biotechnology applications.

Assignment details:

Research how a SPECIFIC biotechnology application within the above GENERAL examples (or ones not listed above) is used today. Example: Insulin production in bacteria is an example under the general topic of recombinant organisms.

  1. What specific biotechnology application did you choose?
  2. Briefly describe this biotechnology application. How is it done?
  3. Based upon the definition of biotechnology in the assignment, describe how your biotechnology application is an example of biotechnology.
  4. What benefits are derived from this application?
  5. Are there any concerns or negative impacts associated with this use of biotechnology? Why or why not?

Provide references in APA format. This includes a reference list and in-text citations for references used throughout the assignment.

Important: Each person in the class should choose a DIFFERENT biotechnology application. Read other students’ posts first to see what they have selected and choose a different biotechnology application.

This assignment will also be assessed using additional criteria provided here.

In your own words, please post a response to the Discussion Board and comment on other postings. You will be graded on the quality of your postings.

For assistance with your assignment, please use your text, Web resources, and all course materials. Please refer to the following.

External Web links:

  • Unit 3: Biotech
  • Unit 3: Excellence Through Stewardship
Points Possible: 75
Date Due: Sunday, Apr 14, 2013
Objective:
  • Describe the relationship between chemistry and the characteristics of living things.
  • Explain the process of photosynthesis and cellular respiration
  • Identify plant and animal cell structure and functions
  • Identify the relationship between reproduction, heredity and DNA
  • Understand Human Organ functions
Submitted Files: Discussion Board
Score: N/A
Instructor Comments: No comments have been made

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