Reference no: EM131426910
Question:
Instructions: (see course schedule for all due dates)
Participation in this forum consists of a minimum of three posts:
One original post (OP) that addresses one of the following discussion prompts provided below. The OP should be 1-2 paragraphs.
Instructions: (see D1 Forum instructions)
Remember to think like an economist and apply the tools and concepts used in class when answering.
Prompts:
(Real World Elasticities) Consider the table below that shows different real-world elasticities. What do you think is the main determinant affecting each good's elasticity of demand (e.g., eggs are inelastic because they represent a small portion of a consumer's budget)
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Product
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Price Elasticity of Demand (abs. value)
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Eggs
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0.1
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Beef
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0.4
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Stationary
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0.5
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Gasoline
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0.5
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Housing
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1.2
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Restaurant meals
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2.3
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Airline travel
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2.4
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Foreign travel
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4.1
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(Production) A production function shows the relationship between inputs and an output. Consider a short-run production function for your own academic success. What would you measure as the output? Describe at least four inputs that would affect your academic success and explain if they have a positive or negative effect.
(Profit-Max) In nearly all instances of producer theory, we assume that firms maximize profits. Do you think this is a realistic assumption - why or why not? Does it depend on the size of the firm? What else might a firm be maximizing?
(Cola Wars) Coca Cola and Pepsi (close but not perfect substitutes) have been entrenched in the cola wars since the 1970s. In 2006, three Coca Cola employees offered Pepsi a stolen copy of Coca Cola's recipe in hopes of a significant monetary exchange. However, Pepsi refused, turned over the recipe back to Coca Cola (and subsequently the FBI) and the three employees were put in jail. Using the competitive model, explain the economic rationale behind Pepsi's decision to not leak Coca Cola's secret recipe to the public.
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Create service blueprint
: Choose a service offered by a healthcare organization and create a service blueprint. You may have to imagine some of the systems and services that take place backstage if you are unfamiliar with them.
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Bartering compared to or a guitar maker
: Explain how, in a barter economy, a toilet paper manufacturer would have a little easier time bartering compared to or a guitar maker?
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Arrangement of the natural and artifical physical features
: Name four things a manager could do to help a transitioning employee? How would topography, which is the arrangement of the natural and artifical physical features of an area, influence the production and sale of refrigerators? Do you believe classis..
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Shift the lm curve and ad curve
: Under the IS-LM model why does an increase in money demand causes interest rate to increase and shift the LM curve and AD curve.
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Relationship between inputs and an output
: A production function shows the relationship between inputs and an output. Consider a short-run production function for your own academic success. What would you measure as the output? Describe at least four inputs that would affect your academic ..
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What is the effective tax rate on alpha’s profits
: From Daniel's perspective, what is the effective tax rate on Alpha's profits if its entire after-tax profits are distributed as a dividend?
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How will you foster resiliency as part of a community plan
: At the age of nine, Anita moved from a small town to a big city because her father was transferred to a new job. Anita entered fifth grade in the middle of the term and was immediately ostracized by her female classmates. Anita begged her parents ..
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Would you send entire report to all of interested parties
: Would you send the entire report to all of the interested parties, such as stakeholders, management, and the project team? Why or why not?
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The market demand function reads
: The market demand function reads Q( P) = 50 - 2P. The government's total cost for producing water are described as follows: TC(Q) = 100 + 10Q.
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