Discussing one economic factor businesses

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Reference no: EM134029680

Assignment:

1. Write one paragraph discussing one economic factor businesses will have to make in the future regarding whether to hire a human or replace the humans with a machine. Do not forget that you should use economic decision variables in your justification for your example, meaning you need to account for more than one variable when providing your reason. (Make sure you support your opinion with academic resources)

2. Write one paragraph examining how particular markets are forced to set prices at the perfectly competitive market price and how being a price taker impacts the customers' experience or service.

3. Write one paragraph reflecting upon someone you know or yourself who could be replaced in the workforce. Define your or your friend's value as an employee and if sunk costs should account for the human factor. To not limit your answers, compare "Mom and Pop Shops" to mega- stores like Walmart and Amazon. Is there a comparison of the human factor to pricing and pay, as well as using robotics or humans?

(Make sure you support your opinion with academic resources such as journal articles)

Reference no: EM134029680

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