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Write a paragraph about how gasoline shortage might affect you, your family, and your community.
The BIG Idea Describe how prices help allocate scarce resources by answering the questions of WHAT, HOW, and FOR WHOM to produce.
Explain the significance of price, rationing, ration coupon, and rebate. Describing What are the advantages of prices?
Go to the internet and find a news article published within the last three months that discusses balancing the federal budget of the U.S. and fiscal policy.
How managers cope with economics factors that may adversely impact their organizations, particularly in an international context.
Write a paper describing the benefits of setting up a pricing structure which includes price discrimination.
Select a news article(s) that discuss the economic concept that you chose as a topic for your term paper.
Go to the internet and find a news article that discusses a potential positive or negative externality. Summarize key points in your initial discussion post.
What overhead costs do you have to take into consideration if you want to own a car?
Marginal Analysis Think about a recent decision you made in which you used the tools of marginal analysis. Explain why you decided to make no further changes.
Understanding Cause and Effect According to the Law of Supply, what will happen to the number of products a firm offers for sale when prices go down?
The BIG Idea Imagine that gas prices have increased to $5.00 per gallon. What will happen to supply of fuel-efficient cars in the short run and in the long run?
Discuss why businesses analyze their costs. Explain how businesses determine their profit maximization output.
Describe the relationship between marginal cost and total cost. Explain the difference between fixed and variable costs.
Explain the difference between total product and marginal product. Describe the three stages of production.
How do a plant's fixed and variable costs affect its decision to operate around the clock?
Inferring If the total output of a business increases, what will happen to fixed costs? To variable costs?
Elasticity of Supply If you were a producer, what might prevent you from increasing the quantity supplied in response to an increase in price? Explain.
Explain the significance of production function, short run, long run, total product, marginal product, stages of production, and diminishing returns.
At what point will you stop hiring workers? Relate this process to the three stages of the production function.
Explain the significance of fixed costs, overhead, variable costs, total cost, marginal cost, e-commerce, break-even point, total revenue and marginal revenue.
What would the consequences of such a policy be for both students and the school?
What kind of nonprice rationing system would you devise to fairly allocate the scarce item?
What considerations would new doctors take into account when they decide where to set up their practice? Explain the reasons for your answers.
In a short paper, describe the positive and negative results of these price supports. Then explain why you support or oppose such programs.