Reference no: EM133280199
You will be exposed to microeconomics concepts as they pertain to firms in our macroeconomy. Choose a domestic firm and identify how the product and factor market affect the inter-workings of your chosen firm. Furthermore, you will be asked to identify how many laborers you would hire for any given shift. You will be able to delve deeper into the daily operations of your chosen firm.
Locate a recent article or event (published within the last year) that highlights your relevant microeconomics topic. Use the Hunt Library, (Links to an external site.) newspapers, new stations, or other credible sources to discuss how your topic aligns with microeconomics. Include the following in your discussion:
State the article or event you selected.
Explain whether your firm is operating within a concentrated market.
Describe which law in the United States prohibits price discrimination.
Explain whether your chosen firm engages in price discrimination practices.
Identify the type of market structure that aligns with your chosen firm.
Explain whether your firm is operating within a concentrated market.
State why skilled and unskilled laborers would not earn the same wages.
Describe your firm's factor and product market.
Identify the number of employees your firm should hire for any given shift.
State whether your chosen firm is operating at an efficient level of production.
Describe your findings.
Analyze the relevance to real-life applications.