We recently discussed marginal cost as it relates to decision making. We also discussed the four market structures as they relate to setting prices and output decisions. Look at the lectures on chapters 13 through 17. What are some of the takeaways that you have...
In Chapter 10 and 11 we discuss the concepts of Externalities, Common Recourses, and Public Goods. How can we apply these concepts to what is going on today in the news? What externalities are there from people's behavior choices? What are the Common Resources involved?...
Consumer Surplus. Producer Surplus. Total Surplus. How are these concepts used to explain welfare economics? How are these concepts used to explain the benefits of trade? How are these concepts used to explain why restricting trade reduces societal wellbeing? (Should trade be restricted in some...
This past week we discussed the impact of price controls on the economy. There seems to be a big divide when it comes to the role of the market and the role of the government in today's society. Use this week's discussion as an opportunity...
Pick a product or service that you consume on a regular basis and speculate on what the elasticity of demand might be for that product. What might be the income elasticity of demand for that product? Explain and support why you think the product has the elasticity that...
Pick a product that you consume on a regular basis. Using the Supply and Demand Model analyze the change in price and quantity that can occur. What are somethings that might shift demand for that product? What are things that might shift supply of that...
Discuss how economics impacts your own life. After going through chapter 1 and the author’s 10 Principles of Economics, give an example or two of how you might apply these principles to your own life and your own decision making. Think about: What are some...
Consider the health care issue that you identified in the Week 2 activity and address each of the following in a 3-4 page Word document: Explain how economic principles can be applied to this issue to effectively guide decision making. ...
Compare primary available economic resources that health insurance payers may use to monitor, assess, and regulate health care providers' behavior. Evaluate the degree to which alternative provider payment methods (e.g., capitation, pay for performance, et cetera.) impact HMO economic and business performance. Provide one example...
Discussion Assignment Instructions Instructions The student will complete 4 Discussions in this course. As you read the chapters assigned to each week, you will find some concepts more interesting and applicable to your personal or work situation than others. Review the key terms listed...