Discussion
1. (1) lay off some workers without changing wages or (2) keep all workers but cut wages for all. Which method would you choose? Why?
2. What is the meaning of economics of scope? How do they differ from economics of scale? Provide examples in your discussion.
Requirements
• Must be at least 400 words minimum.
• 1-2scholarly citation per question in current APA format.
• All key components covered.
• Good examples (pertinent, conceptual, or personal examples are acceptable).
• Thoughtful analysis (considering assumptions, analyzing implications, comparing/contrasting concepts).
• Proper spelling and grammar are used.
Textbook
Froeb, L. M., McCann, B. T., Ward, M. R., & Shor, M. (2016). Managerial economics: A problem solving approach (4th ed.). Boston, MA: Cengage Learning. ISBN: 9781305259331.
Salvatore, D. (2015). Managerial economics in a global economy (8th ed.). New York, NY: Oxford University Press. ISBN: 9780199397129.
Salvatore, D. (any year). Schaum's outlines of microeconomics (Any ed.). New York, NY: McGraw-Hill.