1. What is the significance between implicit and explicit costs in a firm. Furthermore, what is the relationship between total product and marginal product, shown by the law of diminishing returns? Give a descriptive explanation. a. Draw / Illustrate and explain the relationship between marginal cost, average variable cost and average total … Read more
Read Chapter 13 from the text and the article, Should We Tax People for being Annoying? in the shared documents or at https://www.nytimes.com/2013/01/13/magazine/should-we-tax-people-for-being- annoying.html?_r=1 Watch the videos:The Economic Lowdown: Externalities at https://www.youtube.com/watch?v=57GTMN4Zxkw (approx. 6 minutes) Making Sen$e at https://www.pbs.org/newshour/show/economic-options-combatting-climate-change(8:22 minutes). Listen to the podcast, Air Pollution Explainer: Whats an Externality? at https://www.marketplace.org/2013/12/09/sustainability/air-pollution-explainer-whats-externality (approx. 2 minutes). … Read more
Should we call Ghostbusters or 911 (the emergency number), if the flow of money becomes sluggish within our macroeconomy? In this activity, you will explore the concepts of monetary policy, monetary policy tools, and expansionary and contractionary monetary policy. Locate a recent article (published within the last year) that discusses the objectives of the Federal … Read more
The Economic Espionage Act of 1996 is designed to provide a federal remedy for the theft of trade secrets. Over time, several issues have been raised concerning the Act. Discuss what occurred in United States v Jin and United States v Nosal, what issues were presented and how they were resolved. 3 cited sources
ECONOMICS Research Project Due January 14 (200 points)A minimum of a 8-10 page paper, not including citations page, on US health care or health insurance industry. You may focus on the economics of the health care industry, economic impact of the governmental policy on the health care industry or related industries such as pharmaceuticals or … Read more
CREATING A CULTURE OF INNOVATION AND CREATIVITYCreating a Culture of Innovation and CreativityOverviewCreativity and innovation are essential to an organization’s success, and both should be infused into every aspect of a business. Companies with creative and innovative employees keep up with industry changes and have a competitive advantage. Human resources (HR) can foster a creative … Read more
https://www.youtube.com/watch?v=UWImfFax8Ew&feature=youtu.be Reply to these prompts using the company for which you currently work, a business with which you’re familiar, or the dream business you want to start: What are some key fixed and variable costs for this business? Remember, fixed costs do not change when output changes. That is, fixed costs remain even if the … Read more
Exploring Monopolies and Oligopolies Reply to these prompts using the company for which you currently work, a business with which you’re familiar, or a dream business you want to start: With your selected business in mind, determine if it is competitive, monopolistic competitive, an oligopoly, or pure monopoly. Explain how you drew your conclusion about … Read more
Through the use of the text choose four) Define Micro/Macro Economics (p. 4)List the four scarce resources (p. 8).Explain the cost involved when you make the choice to create more robots & the cost involved when you create more pizza in the pizza & robots table. (p. 9) Also, explain the economic rationale behind the … Read more
Through the use of the text choose four) Define Micro/Macro Economics (p. 4)List the four scarce resources (p. 8).Explain the cost involved when you make the choice to create more robots & the cost involved when you create more pizza in the pizza & robots table. (p. 9) Also, explain the economic rationale behind the … Read more