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Eco 365 supply and demand simulation week 2

Eco 365 supply and demand simulation week 2

What is the difference between economic and accounting profits? What are economic profit-maximizing strategies that may be made by a perfectly competitive firm, a monopolist firm, and a monopolistic competitive firm? For More Tutorial Visit: How do market prices differ between perfectly and imperfectly competitive markets?

ECO 365 Week 2 Supply and Demand Simulation

Will a monopoly always produce at a profit-maximizing output level? Include the topics you feel comfortable with, any topics you struggled with, and how the topics relate to your field. Prepare a 350- to 1,050- word paper detailing the findings of your discussion. Select a potential competitive organization and a product in that organization.

ECO 365 Week 2 Individual Study Guide Supply and Demand Simulation

Write a 1,400 — 1,750-word paper of no more than analyzing the current market conditions. Address the following topics: A short history of the organization and a description of their product Factors that affect demand, supply, and equilibrium prices in the market in which the competitor organization operates: Define the market for your chosen product, including an analysis of its competitors, potential customers, or potential buyers.

Any issues or opportunities your organization or industry faces that affect its competitiveness and long-term profitability with regards to your product: This may include, but is not limited, to the following elements.

ECO 365 Week 2 Microeconomics and the Laws of Supply and Demand

Consider the effect your recommendations may have on marginal revenues and costs. Format your paper consistent with APA guidelines. Provide at least three examples. How does one of the examples you provided affect the market outcome? What is the role of government in addressing the implications of an externality you provided as an example? What are real-world examples of government intervention, taxation, and regulations?

What are the goals of each? Differentiating Between Market Structureslocated on the student website and select one option to complete the assignment. Write 1,400 —1,750-word paper of no more than in which you describe how each of the following are or potentially will affect your industry or one with which you are familiar: Identify the type of merger activity inyour industry or one with which you are familiar—horizontal, vertical, or conglomerate—and explain why you made that choice.

Current and expected government policies and regulations, including taxes and regulations in place to address issues related to externalities Global competition on the decisions made by management with regards to change in labor demand, supply, relations, unions, and rules and regulations in your chosen industry Recommend how the industry you chose may respond to each of the previous points.

What role does economics play in your personal and organizational decisions? Provide an example of the role of economics in decision making. What other factors affected your decision? How important was your income as a factor? How important was the price of other goods as a factor?

How does the law of diminishing marginal productivity affect the cost of productions? Provide an example from your workplace.

What is the relationship between productivity and the wages earned by employees where you work or at an organization with which you are familiar? What are some factors that determine the level of your income? Write 700 — 1,050-word paper of no more than summarizing the eco 365 supply and demand simulation week 2. Identify two microeconomics and two macroeconomics principles or concepts from the simulation.

Explain why you have categorized these principles or concepts as macroeconomic or microeconomic. Identify at least one shift of the supply curve and one shift of the demand curve in the simulation. What causes the shifts?

For each shift, analyze how it would affect the equilibrium price, quantity, and decision making. How may you apply what you learned about supply and demand from the simulation to your workplace or your understanding of a real-world product with which you are familiar? How do the concepts of microeconomics help you understand the factors that affect shifts in supply and demand on the equilibrium price and quantity?

How do the concepts of macroeconomics help you understand the factors that affect shifts in supply and demand on the equilibrium price and quantity?