File attached
CHAPTER READING FOR Q1 AND Q2
Click on Read: The Production Function (LO1) (9 pages) to open the resource.
Click on Read: Production Cost (LO1) (11 pages) to open the resource.
Click on Read: Economic Profit (LO1) (6 pages) to open the resource.
Click on Read: Introduction to Natural Resource Economics (LO2) (10 pages) to open the resource.
Click on Read: Government Intervention and Disequilibrium (LO2) (22 pages) to open the resource.
Click on Read: Government Policy Options (LO2)(7 pages) to open the resource.
Click on Read: Externalities in Depth (LO2) (5 pages) to open the resource.
Q1. The topic under discussion deals with Market Structure - Profit Maximization.
Explain in your own words how the law of diminishing returns will at some point yield lower per-unit returns. Additionally, explain its impact to profit maximization in a firm.
Give three real world examples of implicit costs associated with economic profit that are not included in this weeks materials.
Essential Activities:
Reading the assigned OER readings and reviewing the OER PowerPoint slides will assist you in writing this discussion forum.
Q2. Week 5 Current Events (LO1) (LO2) - Part of Current Events category total of 20% (must relate to chapter readings)
Students will create their response to the article in Word (Times New Roman, 12-point pitch double spaced), and submit the assignment in the online Moodle classroom. Spelling, grammar, and punctuation should be emphasized, and students are expected to include at least two hundred (200) words in each assignment. A minimum of one hundred (100) words should summarize the article, and another minimum of one hundred (100) words should relate the summary to Macroeconomics. You must also include the citation in APA7 format that indicates where you found your article. You may use your textbook to reference macroeconomic theory and concept. Do not copy the article.
Essential Activities:
Complete weekly OEM readings and PowerPoint slides to successfully complete the assignment.
CHAPTER READING FOR Q3 AND Q4
Click on Read: Introducing Market Failure (LO2) (9 pages) to open the resource.
Click on Watch: What is Market Failure? I A Level and IB Economics (LO2) (4:48) to open the resource.
Click on Watch: Overview Antitrust (LO2) (5:48) to open the resource.
Click on Watch: The Sherman Anti-Trust Act Explained (LO2) (6:11) to open the resource.
Click on Watch: Clayton Anti-Trust Act (LO2) (1:04) to open the resource.
Click on Watch: What is the Federal Trade Commission Act? (LO2) (1:00) to open the resource.
Click on Watch: Coase Theorem Video (LO2) (4:24 minutes) to open the resource
Q3. Based on the antitrust laws, how would you expect the federal government to react to the following situations?
A college bookstore deliberately reduces prices until its only rival is driven out of business. The bookstore then raises its prices.
Real estate firms meet in an open meeting and agree to charge a given percent commission on sales.
Microsoft merges with Apple by a stock acquisition.
Q4. Week 6 Current Events (LO2) - Part of Current Events category total of 20% (must relate to chapter readings)
Students will create their response to the article in Word (Times New Roman, 12-point pitch double spaced), and submit the assignment in the online Moodle classroom. Spelling, grammar, and punctuation should be emphasized, and students are expected to include at least two hundred (200) words in each assignment. A minimum of one hundred (100) words should summarize the article, and another minimum of one hundred (100) words should relate the summary to Macroeconomics. You must also include the citation in APA7 format that indicates where you found your article. You may use your textbook to reference macroeconomic theory and concept. Do not copy the article.
Essential Activities:
Complete weekly OEM readings and PowerPoint slides to successfully complete the assignment.
Q5. Consider this statement: “When marginal revenue equals marginal cost, total cost equals total revenue, and the firm makes zero profit.” Do you agree or disagree? Explain.
