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Over the past seven weeks, we have explored the foundational concepts and principles of microeconomics, and we have applied them to the world around us. Take this time to share what you have learned with your classmates. In your initial post, respond to the following:
Choose one microeconomic concept applied in your final project. Explain your findings and the implications to your chosen firm’s sustainability.
Using the same microeconomic concept chosen above, explain how it would be applied to the firm where you work or the type of firm you hope to work for in the future. What does this imply about this firm’s future?
In your response posts to peers, comment on the conclusions your peers drew. Add any of your own observations about the firm and how the selected microeconomic concept applies. Additionally, discuss how the concepts your peers chose would be applied to your current or future work.
Microeconmic concept that i used.
Apply microeconomic models to real-world situations for informing effective business decisions
Integrating Problem Samantha Roberts has a job as a pharmacist earning $ 30,000 per year, and she is deciding whether to take another job as the manager of another pharmacy for $ 40,000 per year or to purchase a pharmacy that generates a revenue of $..
Ajax Cleaning Products is a medium-sized firm operating in an industry dominated by one very large firm Tile King.
part a1. russian farmers again have a poor crop. their government has announced that they will not ban exports. this
If the U.S. economy is operating near full employment and the exchange rate increases (the dollar appreciates), explain why the Federal Reserve will be less inclined to raise interest rates.
Two firms (A and B) are planning to produce a new soft drink for the summer. The soft drinks produced by the two firms can differ only in the level of sugar, aside from that they will be exactly equal. What prices will firms set in equilibrium? To ge..
Which type of discrimination is easier to address legally—demand side or institutional?
If price elasticity of demand = -1.5 and price decreases by 10 percent, then
Consider a single-price monopoly
In recent years, the Social Security Administration has increased the retirement age from age 65 to age 67. Based on the concept of consumption smoothing, what impact is this change in the retirement age likely to have on the supply of loanable funds..
A) in finding the optimal basket for a consumer we assume The preferences are exogenously given (we know the indifference map for this consumer) what can change the preferences and why? What would be the effect of change in preferences on a consumers..
When is a producer's self-interest aligned with the social interest? This is one of the major questions addressed by economic theory. The previous chapter explored the behavior of profit – hungry producers in a perfectly competitive market.
Using the equation solve for equilibrium price and quantity. Draw a graph of these functions. label the intercepts and equilibrium numerically. label the areas on the graph that represents Cs and PS in this market assuming the market is in equilibriu..
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