ECO 550 (NEW) Week 9 Problems

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Chapter 16 Problems
Chapter 16: Problems 4, 6(a, c), 9
  1.  What are the incentives to innovate for a monopoly firm’s as compared with a firm in a competitive market if patent protection is not available.
  1. The industry demand function for bulk plastics is represented by the following equation:
Where Q represents millions of pounds of plastics
The total cost function for the industry, exclusive of a required return on invested capital, is
+ 500Q +10Q2
Where Q represents millions of pounds of plastic
(a)  If this industry acts like a monopolist in the determination of price and output, compute the profit maximizing level of price and output
(b)  What are total profits at this price and output level?
© Assume that this industry is composed of many (500) small firms, such that the demand function facing any individual firm is
P=$620
Compute the profit-maximizing level of price and output under these conditions (the industry’s total cost function remain unchanged)
  1. Branding Iron Products, a specialty steel fabricator, operates a plant in the town of West Star, Texas. The town has grown rapidly because of recent discoveries of oil and gas in the area. Many of the new residents have expressed concern at the amount of pollution (primary particulate matter in the air and waste water in the town’s river) emitted by Brandon Iron. Three proposals have been made to remedy the problem:
(a) Impose a tax on the amount of particulate matter and the amount of waste water emitted by the firm.
(b) Prohibit pollution by the firm
(c) Offer tax incentives to the firm to clean up its production processes.
Evaluate each of these alternatives from the perspectives of economic efficiency, equity, and the likely long-term impact on the firm.
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ECO 561 Week 4 Individual Assignment: Simulation Analysis

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Using the link provided on Week Four of the resource page, access and complete the simulation, Economics for Managerial Decision Making: Market Structures.
Resources: Economics for Managerial Decision Making: Market Structures simulation
•         Write a 700- to 1,050- word paper where you explain the following in the context of the simulation:
  • Create a solution using strategic variables available to you to sustain the economic profits the firm can earn.
  • What are some of the pricing strategies that you would recommend?
  • What are some of the non-pricing strategies that you would recommend?
  • What kind of innovations would you propose to sustain the organization’s uniqueness?
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ECO 415 Week 4 Individual Assignment: Hello, I’m Your Motivational Speaker

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You are renowned business guru and motivational speaker Mai Biz. You have been contracted by a prestigious national business organization to deliver a two part seminar on a couple of today’s hottest business topics: competitive advantage and international business.· Create a full 1,750- to 2,100-word transcript of your planned speech to meet the organization’s request.· Address the following questions for each topic:
Topic 1: Achieving Competitive Advantage
  • How does the creation of value lead to competitive advantage?
  • How may a firm achieve competitive advantage? Consider strategies of cost leadership, benefit leadership, and degrees of focus.
  • How does the price elasticity of demand affect a firm’s strategic positioning for competitive advantage?
  • What factors and strategies allow a firm to sustain competitive advantage? Cite at least one real life example of success and one real life example of failure in your explanation.
Topic 2: International Business
  • What additional risks do multinational corporations face and what additional opportunities do they enjoy when compared with domestic firms?
  • What strategies may a multinational corporation use to best take advantage of the opportunities discussed above?
  • What strategies may a multinational corporation use to best mitigate the risks discussed above?
  • How does achieving competitive advantage at an international level differ from achieving competitive advantage at a domestic level? How may a firm strategically position itself for international competitive advantage? Cite at least one example or strategy specific to international business.
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ECO 415 Week 3 Individual Assignment: Let’s Talk Money Interview Transcript

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Create a 1,050- to 1,400-word fictitious dialogue that takes place during a segment of Let’s Talk Money, a fictitious TV talk show that interviews prominent individuals in the business community. During the segment, the show’s host, a government official, and a business savvy CEO discuss the relationship between the government, the economy, and a company selected from the following list:
o   Pepsi-Cola Company™
o   Wal-Mart Stores, Inc.™
o   Lowe’s®
o   Starbuck’s Coffee®
o   Company Barnes & Noble®
o   Amazon.com, Inc. ©
o   Hewlett Packard Development Company, L.P. ©
o   Dell Inc. ©
o   The Walt Disney Company©
o   Microsoft®
  1. You may use a company with which you are familiar as a substitute Use your creativity with this dialogue and develop the points of view of the characters involved. The following questions must be addressed and serve as the basis for grading this assignment:
  • In what type of situations might the selected company run a high risk of violating antitrust laws? How might the government react to assure fair competition within the company’s given market?
  • In what ways might the selected company create a benefit externality? In what ways might it create a cost externality? How might the government respond to the externalities created by the selected company?
  • What is the importance of the government as a buyer in a market economy? Explain from both a governmental and a business perspective.
  • In what ways might the selected company do business with the government? From the company’s perspective, what might be the benefits and drawbacks of selling to the government? From the government’s perspective, what might In what·be the benefits and drawbacks of buying from the company? Situation would the selected company likely consider a merger with one of the other companies on the list? What risks and benefits would a possible merger present? How might the government respond to the merger? Would the two companies merge? Explain why or why not.
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ECO 415 Week 1 Individual Assignment: Basic Concept Paper

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Individual Assignment: Basic Concepts Paper· Resource: Supply and Demand simulation located on your student website· Prepare a 1,050- to 1,400-word paper that discusses basic concepts in applied economics in the context of the simulation. Answer the following questions in the paper:
  • How do changes in the business environment cause changes in supply and demand? Cite and explain at least two examples from the simulation.
  • Why is marginal analysis important when making business decisions? How is marginal analysis used to respond to shifts in supply and demand?
Cite and explain at least one example from the simulation.
  • How did your team determine appropriate output levels in the simulation?
Cite at least two examples.
Were your team’s output decisions successful? If so, explain specifically how your decision making process led to financial success. If not, identify any mistakes and explain what your team could have done differently.
  • What fixed and variable costs does the operating company in the simulation have? Cite at least two examples for each.
  • Describe a market situation in which the operating company faces economic difficulties and the need to cut costs. What cost cutting strategies might the operating company use to remain profitable? What would be the benefits and drawbacks of each?
Format your paper consistent with APA guidelines
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ECO 415 Week 2 Team Assignment: Maximizing Profits within Markets Paper

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Select one of the companies from the following list:
o   Pepsi-Cola Company™
o   Wal-Mart Stores, Inc.™
o   Lowe’s®
o   Starbuck’s Coffee® Company
o   Barnes & Noble®
o   Amazon.com, Inc.©
o   Hewlett Packard Development Company, L.P. ©
o   Dell Inc. ©
o   The Walt Disney Company©
o   Microsoft®·
Prepare a 1,750- to 2,450-word paper:
  • Summarize differences between the four market type
Provide a general explanation of how businesses may maximize profits within each market type. Identify the market type in which the selected business exists.
  • Explain how this market type affects the selected business’s ability to maximize profits.
  • Determine the optimal profit maximizing strategy for the selected business within its given market type.
  • Explain specifically how this strategy may be used to maximize profits within the given market type.· Format your paper consistent with APA guidelines.
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ECO 415 Applied Economics in Business

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ECO 415 Entire Course
Week 1 to Week 5 – All DQs included
ECO 415 Week 1 Individual Assignment: Basic Concept Paper
To buy week 1 individual assignment, click below link:
Individual Assignment: Basic Concepts Paper· Resource: Supply and Demand simulation located on your student website· Prepare a 1,050- to 1,400-word paper that discusses basic concepts in applied economics in the context of the simulation. Answer the following questions in the paper:
  • How do changes in the business environment cause changes in supply and demand? Cite and explain at least two examples from the simulation.
  • Why is marginal analysis important when making business decisions? How is marginal analysis used to respond to shifts in supply and demand?
Cite and explain at least one example from the simulation.
  • How did your team determine appropriate output levels in the simulation?
Cite at least two examples.
Were your team’s output decisions successful? If so, explain specifically how your decision making process led to financial success. If not, identify any mistakes and explain what your team could have done differently.
  • What fixed and variable costs does the operating company in the simulation have? Cite at least two examples for each.
  • Describe a market situation in which the operating company faces economic difficulties and the need to cut costs. What cost cutting strategies might the operating company use to remain profitable? What would be the benefits and drawbacks of each?
Format your paper consistent with APA guidelines
ECO 415 Week 2 Team Assignment: Maximizing Profits within Markets Paper
Select one of the companies from the following list:
o   Pepsi-Cola Company™
o   Wal-Mart Stores, Inc.™
o   Lowe’s®
o   Starbuck’s Coffee® Company
o   Barnes & Noble®
o   Amazon.com, Inc.©
o   Hewlett Packard Development Company, L.P. ©
o   Dell Inc. ©
o   The Walt Disney Company©
o   Microsoft®·
Prepare a 1,750- to 2,450-word paper:
  • Summarize differences between the four market type
Provide a general explanation of how businesses may maximize profits within each market type. Identify the market type in which the selected business exists.
  • Explain how this market type affects the selected business’s ability to maximize profits.
  • Determine the optimal profit maximizing strategy for the selected business within its given market type.
  • Explain specifically how this strategy may be used to maximize profits within the given market type.· Format your paper consistent with APA guidelines.
ECO 415 Week 3 Individual Assignment: Let’s Talk Money Interview Transcript
Create a 1,050- to 1,400-word fictitious dialogue that takes place during a segment of Let’s Talk Money, a fictitious TV talk show that interviews prominent individuals in the business community. During the segment, the show’s host, a government official, and a business savvy CEO discuss the relationship between the government, the economy, and a company selected from the following list:
o   Pepsi-Cola Company™
o   Wal-Mart Stores, Inc.™
o   Lowe’s®
o   Starbuck’s Coffee®
o   Company Barnes & Noble®
o   Amazon.com, Inc. ©
o   Hewlett Packard Development Company, L.P. ©
o   Dell Inc. ©
o   The Walt Disney Company©
o   Microsoft®
  1. You may use a company with which you are familiar as a substitute Use your creativity with this dialogue and develop the points of view of the characters involved. The following questions must be addressed and serve as the basis for grading this assignment:
  • In what type of situations might the selected company run a high risk of violating antitrust laws? How might the government react to assure fair competition within the company’s given market?
  • In what ways might the selected company create a benefit externality? In what ways might it create a cost externality? How might the government respond to the externalities created by the selected company?
  • What is the importance of the government as a buyer in a market economy? Explain from both a governmental and a business perspective.
  • In what ways might the selected company do business with the government? From the company’s perspective, what might be the benefits and drawbacks of selling to the government? From the government’s perspective, what might In what·be the benefits and drawbacks of buying from the company? Situation would the selected company likely consider a merger with one of the other companies on the list? What risks and benefits would a possible merger present? How might the government respond to the merger? Would the two companies merge? Explain why or why not.
ECO 415 Week 4 Individual Assignment: Hello, I’m Your Motivational Speaker
You are renowned business guru and motivational speaker Mai Biz. You have been contracted by a prestigious national business organization to deliver a two part seminar on a couple of today’s hottest business topics: competitive advantage and international business.· Create a full 1,750- to 2,100-word transcript of your planned speech to meet the organization’s request.· Address the following questions for each topic:
Topic 1: Achieving Competitive Advantage
  • How does the creation of value lead to competitive advantage?
  • How may a firm achieve competitive advantage? Consider strategies of cost leadership, benefit leadership, and degrees of focus.
  • How does the price elasticity of demand affect a firm’s strategic positioning for competitive advantage?
  • What factors and strategies allow a firm to sustain competitive advantage? Cite at least one real life example of success and one real life example of failure in your explanation.
Topic 2: International Business
  • What additional risks do multinational corporations face and what additional opportunities do they enjoy when compared with domestic firms?
  • What strategies may a multinational corporation use to best take advantage of the opportunities discussed above?
  • What strategies may a multinational corporation use to best mitigate the risks discussed above?
  • How does achieving competitive advantage at an international level differ from achieving competitive advantage at a domestic level? How may a firm strategically position itself for international competitive advantage? Cite at least one example or strategy specific to international business.
ECO 415 Week 5 Team Assignment: Sustainability PowerPoint® Presentation and Paper
Select one of the companies from the following list and investigate its commitment to and performance in sustainable business:
o   Pepsi-Cola Company™
o   Wal-Mart Stores, Inc.™
o   Lowe’s®o Starbuck’s Coffee® Company
o   Barnes & Noble®
o   Amazon.com, Inc. ©
o   Hewlett Packard Development Company, L.P. ©
o   Dell Inc. ©
o   The Walt Disney Company©
o   Microsoft®·
Write a 1,400- to 2,100-word paper in which you:
  • Define sustainability.
  • Explain why sustainability is important for financialsuccess.
  • Evaluate the selected business in terms of sustainability, addressing the following:· Identify its financial and non-financial stakeholders.·
Describe how economic and non-economic business decisions may negatively or positively affect stakeholders.
Explain how those decisions may affect profits when stakeholder reactions are taken into account.· Identify ways in which the selected business is succeeding and ways in which it is falling short in terms of sustainability.·
Compare the selected business to other businesses within the same industry in terms of sustainability. Consider at least one of the following:
  • Commitment to environmental issues
  • Company and employee relations
  • Commitment to the communities in which the company operates
  • Product design
Create a sustainability strategy for the selected business:
  • Identify ways in which it may expand upon current or past sustainability successes.
  • Identify opportunities for turning sustainability shortcomings into areas of sustainability growth.
  • Identify ways to improve stakeholder relationships.
  • Explain how specific actions and policies must be implemented.
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ECO 561 Week 6 Learning Team Assignment: International Paper

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Resources: The data compiled from the University of Phoenix Material – Big Drive Auto in Week Four (or the material from your own organization in which you faculty member has approved)
Write a 700- to 1,050- word paper addressing the following issues in the context of the scenario:
  • Identify and justify the macroeconomic measures of output and prices which you have selected for Big Drive Auto’s planning.
  • What are the relationships between the organization’s data and the macroeconomic measures you have selected?
  • Explain how specific planning and operating decisions at the organization can be improved using the macroeconomic data.
  • How would you get reliable forecasts of these macroeconomic variables?
  • In your planning, how would you deal with the uncertainty in macroeconomic forecasts?
  • How do business cycles affect the performances of Big Drive Auto (or the organization of your choice)? What could the organization do to mitigate any undesirable effects of business cycles?
  • Identify to what extent tariffs or quotas would affect international trade in your product.
  • How would you pay for imports, receive payment for exports, and manage exchange rate risk?
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ECO 561 Week 4 Quizzes (Chapter 6 & 7)

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•         Visit the MBA Web Prep for Economics site at: http://cwx.prenhall.com/bookbind/pubbooks/uop_casefair/
•         Complete Quizzes 6 & 7.
•         Submit the results to your faculty member.
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