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Discussion: Share Your Learning
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. 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 (I am the owner of a small housekeeping cleaning company) or the type of firm you hope to work for in the future. What does this imply about this firm's future?
You are the manager of a firm that sells a commodity in a market that resembles perfect competition, and your cost function is C(Q)= 2Q+3Q2. Calculate the expected market price.
explain the relationship between elasticity of demand and total revenue for the following ranges along the demand curve
What are the three basic functions of money? Describe how rapid inflation can undermine moneys ability to perform each of the three functions.
Recently, the Fed is paying banks interests for their required reserves and excess reserves. This is now the fourth policy tool for the Fed to control money supply (in addition to the three policy tools summarized on p. 423.). what if the Fed want..
many companies purchase other companies or individual product or brands from other companies to acquire new
What is the difference between a publicly held company and a privately held company? How can the two types of companies be identified?
A. Why money is the main cause inflation B. Discuss the relationship between inflation and interest rate. Do an international relationship exist, yes no HOW
Consider a market in long-run equilibrium, where the firm’s mix of inputs is the cost-minimizing mix of inputs. Use a graph that includes isocosts and isoquants to illustrate cost minimization for a firm producing q units of output.
If a 3-percent increase in the price of corn flakes causes a 6-percent decline in the quantity demanded, what is the elasticity of demand?
What type of property ownership does the following describe? George and Martha each own an undivided interest in a house and surrounding land they call "Mount Vernon;" at George's death his interest passes automatically to Martha.
Pick a good or service. Distinguish between the short-run and the long-run production and cost function for that good or service. Discuss how price plays a role in short-run and long-run decisions and how managers are likely to respond in each cas..
Use a dynamic aggregate demand and aggregate supply graph to illustrate the change in macroeconomic equilibrium from 2017 to 2018, assuming that the economy experiences deflation during 2018. In order for deflation to take place in 2018, does th..
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