ECN 601 Economics (ECN601)

Topic1DQ1 Feb2-4,2023 Explainwhytheconsiderationofopportunitycostsmaybeveryrelevanttoafirm.Howcanopportunitycostsaffectabusinessdecision?Useanexampletosupportyouranswer. Topic1DQ2 Feb2-6, 2023 Thinkaboutagoodorserviceforwhichyoubelievetherehasbeenashiftindemandorsupply.Explainthereasonsbehind theshiftand howthat hasinfluencedtheequilibrium price.

1. Question:Indirectpricediscrimination differsfromdirectprice discriminationbecause: 2. Question:What is it called when each additional worker hired contributessuccessively smalleramountsofoutput? 3. Question:Jim has a better chance of having his offer accepted, since the seller doesnothaveanyoutsideoffers. 4. Question:For a production function with a diminishing, but positive, marginal productoflabor: 5. Question:Nashequilibriumis: 6. Question:Moralhazardimpliesthat: 7. An HVAC company i...

1. Acquiring a firm that sells a substitute good would make the demand curve for your original product ~ 2. The general rule to increase profits when two close substitute brands are jointly owned is ~ 3. After acquiring closely substitutable product brands, a firm can successfully raise prices on both of the brands without losing much of its total sales because ~ 4. Which of the following is an example of price discrimination? 5. The practice of buying a firm’s good in one market at a low ...

Topic5DQ1 Mar2-4, 2023 The order of play tends to matter in sequential games where rivals must predict best reply-responses and counter-responses in order to achieve a desired payoff. Discuss an instance inwhich you or your firm used game theory and explain why the relationship between the playerswas a strategic one. Did the use of a credible threat or commitment affect the outcome? Werethere any first-mover offast-secondstrategiesused? Topic5DQ2 Mar2-6, 2023 In business, sports, po...

Whatisthedifferencebetweenriskanduncertainty?Provideexamplesofwhatyourorganizationhasdone,ornotdone,todealwithriskanduncertainty.Howdidthoseactionsaffectthefirmonceacontingencyofriskoruncertaintymaterialized? Topic 6DQ2 Mar9-13,2023 Howdoesthefinancialstrengthofanorganizationinfluencedecisionmakingandoutcomes?Provideexamplesthatsupportyourrationale.

Topic3DQ1 Feb16-18, 2023 Whatmarketstructurebestdescribestheenvironment withinwhichyourorganizationoperates?What challenges and opportunities would arise from higher and lower degrees of governmentintervention? Provide arationaleto supportyour Topic3DQ2 Feb16-20, 2023 How do firms contribute to the efficiency of the market economy in ways that networks ofindependentcontractorsdonot?Useyourorganization, oronewithwhichyouarefamiliar, toillustrate your response.

Topic 4DQ2 Feb23-27,2023 Whatisthecorrelationbetween,andevidencebehind,marketconcentrationandpricelevels?Doyoufindanyrelationshipbetweenlackofcompetitionandothereconomicvariables?UseatleastonearticlefromTheWallStreetJournal,oranotherscholarlyreference,tosupportyourresponse.Whataretheethicalramificationsofmarketconcentration?

Topic 2DQ1 Feb9-11,2023 Explainasituationyouhaveobserved(orreadabout)inwhichafirmmadeadecisionconsideringirrelevantcostsordidnotconsiderrelevantcosts.Whatwastheoutcomeofthedecision,andwhatcouldhavebeendonedifferently? Topic 2DQ2 Feb9-13,2023 Explain why pricing and production are extent decisions and not decisions that should be tackled with break-even analysis. Does the same apply for investment decisions? Provide a rationale to support your response.

Topic 7DQ1 Mar16-18,2023 Giveexamplesfromyouremploymenthistorywhereyouwitnessedmoralhazardintheworkplace.Whatweretheincentivesthatgaverisetomoralhazard?Didthefirmtakestepstoeliminatemoralhazard? Topic 7DQ2 Mar16-20,2023 Beginbylocatingascholarlyarticleregardingtheeffectsofincreasesonminimumwagesanddiscussitsfindings.Doesaminimumwageincreaseleadtoreductionsinemployment,oristheoveralleffectonemploymentnetpositive?Doyouagreeordisagreewiththeresultsofthestudy?Whatdoyouthinkareothervital...

Topic5DQ1 Mar2-4, 2023 The order of play tends to matter in sequential games where rivals must predict best reply-responses and counter-responses in order to achieve a desired payoff. Discuss an instance inwhich you or your firm used game theory and explain why the relationship between the playerswas a strategic one. Did the use of a credible threat or commitment affect the outcome? Werethere any first-mover offast-secondstrategiesused?