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You will apply economic principles presented in Weeks One through Three in this week's assignment. Your assignment will be reviewed by your peers and by your facilitator in week five and should be revised as necessary based on feedback as the first part of the final assignment in week six.
Select a new, realistic good or service for an existing industry.
Write the economic analysis section of a business proposal. This will include statements about the market structure and the elasticity of demand for the good or service, based on text book principles. You need to create hypothetical data, based on similar real world products to estimate fixed and variable costs.
Required Elements:
1. How do you know that the firm represented in the graph above is a purely competitive firm 2. To maximize profits, this firm will produce at what output level (one letter) 3. Explain why this MR=MC position is the profit-maximizing position for any..
1. for each of the following determine whether it is a private good public good common resource or a club good.a.
1. denver is the owner of the 7-11 mini mart dallas is the owner of the super america mini mart and together they are
What are the effects of labor unions on wages and productivity? what are the Right-to-work laws in individual states?
Evaluate how well the design of the First IB web site meets the needs of a potential small business customer. Discuss the elements of the site that work particularly well in meeting the needs of this type of site visitor.
by outsourcing overseas a company can reduce costs but must also take certain risks. global supply chains are exposed
Suppose demand function has changed t0o Qd2 = 14-P. Find the new equilibrium price and quantity?
the president of the united states announces in a pre-conference that he will fight the higher inflation rate with a
You are the manager of a perfectly competitive firm selling a product. Your business is making a loss because total revenue is less than total costs. What would you do--shut down or continue to operate.
Describe the method of contingent valuation for measuring the economic impact of crime. What are the advantages and disadvantages of this method relative to trying to measure the cost of crime directly
There is the firm that has pricing control of its output and is capable to identify its consumers in two groups. The total quantity demanded for its output is the summation of quantity demanded by the two groups,
You appoint an intern from Southern University to help you examine your production process, and she uses your historical cost records to estimate that your total cost function is C(Q) = 100 + 2Q + 3Q2.
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