ECN360GCU

ECN 360 Grand Canyon All Week Discussions



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ECN 360 Grand Canyon Week 1 Discussion 1

Is price elasticity of demand at GCU elastic or inelastic? What could you do to find out?



ECN 360 Grand Canyon Week 1 Discussion 2

Most managers and executives believe their firm has an opportunity to take advantage of economies of scale; however, many firms do not. Slect one of the questions below and respond.

1. How could you determine if your firm has economies of scale?

2. What type(s) of firms typically have economies of scale? Which do not?



ECN 360 Grand Canyon Week 1 Discussion 1

The long-run equilibrium for a perfectly competitive firm is zero-profit equilibrium. Does this mean that owners of these firms have no income? Explain.



ECN 360 Grand Canyon Week 2 Discussion 2

How does the price and level of output for a monopolist differ from that of a purely competitive firm? Is this due to differences in the cost of doing business? Do these differences provide a rationale for anti-trust legislation? Explain.



ECN 360 Grand Canyon Week 3 Discussion 1

There are estimates that as many as 4,000 pizzerias open every year in the U.S. and just as many close. Why does this continue to happen?



ECN 360 Grand Canyon Week 3 Discussion 2

The manufacturers of R.C. Cola, with 2.1% market share in the get more info soft drink industry, recently launched a new advertising campaign describing their brand as a “hip alternative” to “corporate colas” like Coke and Pepsi. Why don’t they simply try and gain market share by cutting price? What property of oligopoly markets explains this type of behavior?



ECN 360 Grand Canyon Week 4 Discussion 1

Why would the manufacturers of autos resist attempts to establish higher fuel efficiency standards? How would their costs, sales, and profits be affected?



ECN 360 Grand Canyon Week 4 Discussion 2

Select one of the cases below and discuss what would happen to marginal physical product and why:

1. More secretaries are hired in an office.

2. More professors are hired to teach economics.

3. More construction workers are hired to construct an office building.



ECN 360 Grand Canyon Week 5 Discussion ECN360GrandCanyonAllWeekDiscussions 1

Identify the Classical prescription for curing unemployment and contrast it with the Keynesian prescription. Which prescription do you agree with? Why?



ECN 360 Grand Canyon Week 5 Discussion 2

In 2013-2014, the nation was struggling with a persistent high level of unemployment, low rates of economic growth, and high federal budget deficits. Explain how solutions to these economic problems conflict with one another. If you were economic dictator, how would you proceed against this set of problems?

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