How would a low-cost price leader enforce its leadership through implied threats to a rival? How does a firm become a “low cost” price leader? Discuss the specific type of market structure that implied threat strategy can be adapted.
For this assignment, you will apply the concepts of supply and demand analysis concepts to a specific good or service you use in your everyday life. In your paper, include a discussion of the following as subheadings in your paper: Describe the good. What are its main characteristics? What are some of the substitutes…
Why might a profitable motel go out of business in the long run if the land on which it is located becomes extremely valuable due to rapid economic growth in the area? What are the most significant costs that the firm must consider in deciding whether to go out of business?
Another important law in economics is the “law of marginal returns or the law of increasing costs”. Discuss in terms of your study in this course, how might you know that you are at a point of diminishing returns, or where more study will not benefit you like it did before? Can you identify any…
An important law in economics is the “Law of Diminishing Marginal Utility”. Discuss what this law is and provide an example of diminishing marginal utility you’ve encountered recently.
Jim and Laura Buyer visit the local car dealership because they are interested in buying a new car. The car they currently have is aging and is starting to have mechanical problems. Jim and Laura would share the new car, and use it to go back and forth to work and school. Before going to…
Why is it important that prices are flexible in our economy? Do you think the government should control the level of prices for products that are really important, ie. gasoline?
Companies choose their costing method based on their business activities and processes, as well as the products and services they offer. A company can be a manufacturing, merchandising, or service organization; this also impacts which costing method will be most useful for its purposes. As a part of costing, the company also needs to decide…
Macroeconomic analysis deals with the crucial issue of government involvement in the operation of “free market economy.” The Keynesian model suggests that it is the responsibility of the government to help to stabilize the economy. Stabilization policies (demand-side and supply-side policies) are undertaken by the federal government to counteract business cycle fluctuations and prevent high…
Choose two psychiatrists and PCP’s in your area to fact find how long it will take to get an appointment if you are reporting symptoms of anxiety and sadness. Instructions: • Find two psychiatrists (or psychiatric APRNs) in your area to fact find. • Call your PCP (if you don’t have one, ask…