Reference no: EM1337989
Use of economic concepts to describe the economy
1. Using the concepts of marginal costs and marginal revenues, explain why economic profits are maximized where marginal revenue equals marginal cost and why profits decline if the price is above or below the profit maximizing price.
2. Using the concepts of demand, supply, equilibrium, and price ceilings, explain why a shortage occurs when the price is too low (below equilibrium).
3. Using the concepts of supply, demand, equilibrium, shortages, surpluses, and price, explain why "price gouging" is not possible in economic theory.
4. Explain the difference between economic profits and accounting profits.
5. Using the concepts of relative elasticity and relative inelasticity, explain price elasticity of demand.
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A common prioritization process
: A common prioritization process involves a matrix to make pair-wise decisions when the list of choices is difficult.
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Differentiating between risk and uncertainty
: The difference between risk and uncertainty is?
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Explaining international virtual teams management
: Discuss International virtual teams management ,the problems of communication, tasks, conflict resolution, solutions and good practices managers must consider.
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The procedures and methods for baseline data
: Create a Word document describing t he procedures and methods for baseline data.
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Difference among economic profits and accounting profits
: Elucidate the difference between economic profits and accounting profits. Using the concepts of relative elasticity and relative inelasticity, explain price elasticity of demand.
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Comparing different classical cultures
: Create an original table or chart compare and contrast distinguishing elements or features of early Greek and Roman cultures, including illustrative or significant examples of the various features.
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Define how is the tours content and function
: What technologies are used to create the experince in tours memorable?
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Elucidate why changes made in supply-demand and price
: Locate an article pertaining to a change in the supply, demand, and pricing of a particular product or service. Utilizing the economic theories, prepare a paper in which you summarize the article and elucidate why changes made in supply, demand, a..
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Create a comprehensive list of objectives
: Create a comprehensive list of objectives to measure, a sample mock-up report or graph
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