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Reading Passage for Class Writing  The idiom “When in Rome, do as the Romans do” emphasizes the importance of adapting to the customs and behaviors of the people around you, especially when you are in a new environment. The saying dates back to the 4th century, when Saint Ambrose advised travelers to follow local traditions while visiting foreign places. In essence, the phrase encourages open-mindedness, respect, and cultural sensitivity. It reminds us that behaving appropriately in different social or cultural settings helps us connect better with others and avoid misunderstandings. In a broader sense, this idiom reflects flexibility and awareness of social norms. For example, a student who studies abroad might learn to greet teachers formally, remove shoes before entering a home, or eat with chopsticks. By embracing these practices, the student shows respect and gains a deeper understanding of the culture. Similarly, in professional or academic settings, adapting to a new system or environment often leads to personal growth and stronger relationships. “When in Rome, do as the Romans do” teaches us that respecting the values and customs of others can foster harmony, cooperation, and success in diverse communities. Ultimately, this expression reminds us that flexibility and cultural awareness are essential for thriving in an interconnected world. Final Essay Prompts (Select One) Adapting to a New EnvironmentReflect on a time when you had to adjust to a new culture, school, or workplace. How did you adapt to the customs, expectations, or behaviors around you? Explain what you learned from this experience and how it changed your perspective. Support your ideas with specific details and examples. The Importance of Cultural AwarenessUsing the idiom “When in Rome, do as the Romans do” as a foundation, write an essay discussing why understanding and respecting other cultures is important in today’s global society. Provide examples from your own experience, current events, or history to show how adaptability and respect can build stronger relationships among people from different backgrounds.

Refer to the accompanying graph to answer the next question. The supply and demand curves apply to both a monopoly market and a competitive market. The marginal revenue curve applies only to a monopoly.   What would be the deadweight loss in a monopoly market?  

  When output is 100 units, a firm’s total fixed cost is $500. What will this firm’s total fixed cost be if output doubles to 200 units?

Refer to the accompanying graph to answer the next question.   This profit-maximizing firm’s total profit is equal to  

  The price at which a perfectly competitive firm sells its product

  Jason owns a business in Jacksonville, Florida, that sells home security systems. The local market for security systems is very competitive. At Jason’s current production level, his marginal cost is $2,550 and his marginal revenue is $2,400. To maximize profits, Jason should

  Where is a perfectly competitive firm’s break-even price?

Suppose you have recently opened a consulting business.  Each of the parts to this question provides data for a different firm that has sought out your services. (Each part is independent of the other parts.  Each of these firms are operating in perfectly competitive industries.  The objective of these firms (as usual) is to maximize profits (or minimize losses).  Your job, as a consultant, is to suggest an appropriate course for the firm to follow.  The options available are: Firm is now at correct position (change nothing),  Firm should increase price, Firm should decrease price, Firm should increase quantity of output produced and sold, Firm should decrease quantity of output produced and sold, Firm should shut down operations,  Firm gave you inconsistent / incorrect info. You must show your work to receive credit.

  Belinda is the owner of a department store. Last year, her total revenue was $525,000 and her total labor costs were $200,000. Her overhead expenses, including insurance and legal fees, were $175,000. The rent on the building was $40,000. Belinda could earn $100,000 per year working at a nearby department store. If her total revenue increases to $600,000 this year and all of her other expenses are held constant, we know that her economic profit is now

  The typical result of monopoly is __________ prices and __________ output than we find in a competitive market.