Why was this not the case during 2020 to 2022? What happened in the markets that prevented this normal mechanism from working?

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Marginal Product and Resources

We can identify from this reading that as more quantity is produced, inputs used can be purchased in larger quantities – known often as economies of scale.

Why was this not the case during 2020 to 2022? What happened in the markets that prevented this normal mechanism from working?

There were many factors at play so be sure you select at least three (for example, labor supply, costs of supplies, availability of supplies, costs of distribution, and prices of products).

Why should the firm’s output return to a more normal cost curve over time? Explain what happened to at least two different types of producer’s profits during 2020 – 2022.

 

Why was this not the case during 2020 to 2022? What happened in the markets that prevented this normal mechanism from working?

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Marginal Product and Resources

We can identify from this reading that as more quantity is produced, inputs used can be purchased in larger quantities – known often as economies of scale.

Why was this not the case during 2020 to 2022? What happened in the markets that prevented this normal mechanism from working?

There were many factors at play so be sure you select at least three (for example, labor supply, costs of supplies, availability of supplies, costs of distribution, and prices of products).

Why should the firm’s output return to a more normal cost curve over time? Explain what happened to at least two different types of producer’s profits during 2020 – 2022.

 

What is opportunity cost? Draw a Production Possibility curve for a country producing two goods and show with help of an example, how principle of opportunity is applied in explaining the changes in production possibilities for the country.

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Micro Economics Question

Q1. In Riyadh City Road traffic congestion is increasing day by day. As an economist how you see this problem? Suggest and explain an economist’s solution to this problem. (3 Marks)

Q2. What is opportunity cost? Draw a Production Possibility curve for a country producing two goods and show with help of an example, how principle of opportunity is applied in explaining the changes in production possibilities for the country. (3 marks)

Q3. What is market equilibrium? Take an example of pizza (assume its price and quantity demanded) and analyse graphically, what happens to the equilibrium price and quantity when, (a) there is increase in demand and (b) there is increase in supply. (4 Marks)

 

What are the main characteristics of the business model of the company of your choice? What are the main characteristics of the market structure of the industry of the company of your choice?

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Amazon Business Model

The paper will be about one of the following companies: Amazon, Boeing, Costco, Facebook, Gillette, Hachette, J.C. Penney, McDonalds, Priceline, Schick, Virgin Atlantic, Wal-Mart.

Choose one of the following research questions:

  1. What are the main characteristics of the business model of the company of your choice?
  2. What are the main characteristics of the market structure of the industry of the company of your choice?

 

Submit a three to four page paper, double spaced with proper APA citations answering the following: Do you think sporting arenas should be funded with public money? Yes or No?

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Argumentative Essay:

Submit a three to four page paper, double spaced with proper APA citations answering the following:

Do you think sporting arenas should be funded with public money? Yes or No?

 

Applying Saint Leo’s Core Values to your analysis, describe what GDP measures and some of the limitations of GDP. What is the relationship between economic well-being and social well-being? Can economic growth and productivity align with our Core Values?

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Saint Leo’s Core Values

Applying Saint Leo’s Core Values to your analysis, describe what GDP measures and some of the limitations of GDP. What is the relationship between economic well-being and social well-being (i.e. happiness)? Can economic growth and productivity align with our Core Values?

Select an e-commerce web site, which is a website where viewers can select and purchase items; critique your selected site by focusing on any five of Krug’s key principles as applied to the site.

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E-Commerce Project

Read Steve Krug’s Don’t Make Me Think;

Select an e-commerce web site, which is a website where viewers can select and purchase items; critique your selected site by focusing on any five of Krug’s key principles as applied to the site. For example, as Krug’s book’s title suggests, web sites should not require users to think too much or sites should use conventions.

Noting how the site helped or hindered building goodwill (reference Chapter 11 on this); and discussing how well the site addresses accessibility for those with disabilities.

 

Submit a three to four page paper, double spaced with proper APA citations answering the following: Do you think sporting arenas should be funded with public money? Yes or No?

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Argumentative Essay:

Submit a three to four page paper, double spaced with proper APA citations answering the following:

Do you think sporting arenas should be funded with public money? Yes or No?

 

Explain the relationship between the price elasticity of demand and total revenue. What are the impacts of various forms of elasticities on business decisions and strategies to maximize profit? Explain your responses using empirical examples, formulas, and graphs.

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Microeconomics Tools for Purposes of Problem solving, Analysis, and Decision Making

Examine microeconomic tools for purposes of problem solving, analysis, and decision-making.

It is highly recommended that you review the Seminar presentation located in the “Learn” area before beginning the Assessment. https://kapextmediassl-a.akamaihd.net/business/Media/GB540/GB540_1504D/GB540U2SP/presentation_html5.html

According to the law of demand, if price increases, quantity demanded of a good or service will decrease or vice versa. Price elasticity of demand tells us how much quantity demanded will decrease when price increases or how much quantity demanded will increase if price decreases.

On the other hand, according to the law of supply, if the price increases, quantity supplied of a good or service will increase. Similarly, if price decreases, quantity supplied will decrease. The degree of sensitivity (responsiveness) of production/supply to a change in price is measured by the concept of price elasticity of supply.

Total revenue is calculated as the quantity of a good or service sold multiplied by its market price. Thus, it is a measure of how much money a company makes from selling its product. The core objective of a firm is maximizing profit. One of the ways to maximize profit is increasing total revenue. The firm can increase its total revenue by selling more items or by raising the price. Among others, this depends on the nature of the price elasticity of demand. Moreover, the length of time is an important factor in determining price elasticity of demand and supply.

Directions

-Explain the relationship between the price elasticity of demand and total revenue. What are the impacts of various forms of elasticities (elastic, inelastic, unit elastic, etc.) on business decisions and strategies to maximize profit? Explain your responses using empirical examples, formulas, and graphs.
-Is the price elasticity of demand or supply more elastic over a shorter or a longer period of time? Why? Give examples.
-What are the impacts of government and market imperfections (failures) on the price elasticities of demand and supply?

What positive applications could the use of wait line models have on the operations of manufacturing and service-based organizations?

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Discussion Topic

Select one of the four topics listed below, then answer the discussion question. Be sure to incorporate your own personal experiences into your responses:

  • Capacity increases and decreases
  • Capacity flexibility
  • Server utilization
  • Reduction of wait line times

In your original post, answer the following:

What positive applications could the use of wait line models have on the operations of manufacturing and service-based organizations? Include as many different wait-line models as you can in your discussion