Ecn 601 - Study guides, Class notes & Summaries
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ECN 601 Topic 2 Problems; Chapters 4, 5, 6
- Other • 6 pages • 2023
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Chapter 4 
1. Question: Memorial Hospital's CEO conducted performance reviews of the hospital’s departments and discovered that the average cost of deliveries ($5,000) was above their average revenue, and that the hospital was losing $700 on each delivery. From the information on how much the hospital is losing on deliveries, what is the change in profit for each extra delivery? 
2. Question: Georgetown Public Media is trying to determine the optimum amount for its advertising budget. Calcula...
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ECN 601 Topic 8 Problems; Chapter 11
- Exam (elaborations) • 4 pages • 2023
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G11-2: Exchange Rate Effects on your Firm 
The equilibrium often entails a supply and a demand factor. Despite that a country’s currency value may fluctuate over a period, it must be noted the supply and demand for oil does not change. The petroleum industry for example is known for domestic oil refinery. The production of petroleum products within the US or globally is done with the general idea for profit for its shareholders and investors. If it can be acknowledged that a change in interest...
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ECN 601 Topic 4 DQ 2
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Topic 4DQ2 
Feb23-27,2023 
 
Whatisthecorrelationbetween,andevidencebehind,marketconcentrationandpricelevels?Doyoufindanyrelationshipbetweenlackofcompetitionandothereconomicvariables?UseatleastonearticlefromTheWallStreetJournal,oranotherscholarlyreference,tosupportyourresponse.Whataretheethicalramificationsofmarketconcentration?
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ECN 601 Topic 7 Problems; Chapters 21 and 22
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Problems:Chapters21and22Assessment Description 
CompleteProblemsinChapters21and22inMindTapforManagerialEconomics:AProblemSolvingApproach.AccessMindTapthroughthelearningmanagement systemclassroom. 
 
1	.IndividualProblems21-1 
 
Whenrealestateagentsselltheirown,ratherthanclients',houses,theyleavethehousesonthemarketfora longer time (10 days longer on average) and wind up with better prices. Suppose that real estate agentsearn a commission equal to 3% of the sale value of each house that they hel...
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ECN 601 Topic 6 DQ 1 plus DQ 2
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Topic 6DQ1 
Mar9-11,2023 
Whatisthedifferencebetweenriskanduncertainty?Provideexamplesofwhatyourorganizationhasdone,ornotdone,todealwithriskanduncertainty.Howdidthoseactionsaffectthefirmonceacontingencyofriskoruncertaintymaterialized? 
 
Topic 6DQ2 
Mar9-13,2023 
 
Howdoesthefinancialstrengthofanorganizationinfluencedecisionmakingandoutcomes?Provideexamplesthatsupportyourrationale.
Too much month left at the end of the money?
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ECN 601 Topic 1 DQ 1 plus DQ 2
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Topic1:FoundationsofEconomics-SupplyandDemand 
Topic1DQ1 
Feb2-4,2023 
 
Explainwhytheconsiderationofopportunitycostsmaybeveryrelevanttoafirm.Howcanopportunitycostsaffectabusinessdecision?Useanexampletosupportyouranswer. 
 
Topic1DQ2 
Feb2-6, 2023 
 
Thinkaboutagoodorserviceforwhichyoubelievetherehasbeenashiftindemandorsupply.Explainthereasonsbehind theshiftand howthat hasinfluencedtheequilibrium price.
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ECN 601 Topic 7 DQ 1 plus DQ 2
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Topic 7DQ1 
Mar16-18,2023 
 
Giveexamplesfromyouremploymenthistorywhereyouwitnessedmoralhazardintheworkplace.Whatweretheincentivesthatgaverisetomoralhazard?Didthefirmtakestepstoeliminatemoralhazard? 
 
Topic 7DQ2 
Mar16-20,2023 
 
Beginbylocatingascholarlyarticleregardingtheeffectsofincreasesonminimumwagesanddiscussitsfindings.Doesaminimumwageincreaseleadtoreductionsinemployment,oristheoveralleffectonemploymentnetpositive?Doyouagreeordisagreewiththeresultsofthestudy?Whatdoyouthinkareothervitalco...
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ECN 601 Topic 8 DQ 1 plus DQ 2
- Other • 3 pages • 2023
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Topic 8DQ1 
Mar23-25,2023 
 
GotoTheEconomistwebsiteandsearchfortheBigMacIndexforarecenttimeperiod.ComparethePurchasingPoweroftheUnitedStateswithanothercountry.Trytochooseacountrywithwhichyouarenotveryfamiliar.Whatdoesthisparitysayaboutthepotentialstandardoflivinginthecountryyouchose?Whatdoesitsayaboutthepotentialwagelevel? 
 
Topic 8DQ2 
Mar23-27,2023 
 
Overseveraldecades,someindustries,suchastextileandclothing,whichwereonceasignificantpartoftheU.S.economy,haveshiftedmanufacturingabroad.Usingt...
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ECN 601 Topic 2 DQ 1 plus DQ 2
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Topic 2DQ1 
Feb9-11,2023 
Explainasituationyouhaveobserved(orreadabout)inwhichafirmmadeadecisionconsideringirrelevantcostsordidnotconsiderrelevantcosts.Whatwastheoutcomeofthedecision,andwhatcouldhavebeendonedifferently? 
 
Topic 2DQ2 
Feb9-13,2023 
Explain why pricing and production are extent decisions and not decisions that should be tackled with break-even analysis. Does the same apply for investment decisions? Provide a rationale to support your response.
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ECN 601 Topic 3 DQ 1 plus DQ 2
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Topic3DQ1 
Feb16-18, 2023 
 
Whatmarketstructurebestdescribestheenvironment withinwhichyourorganizationoperates?What challenges and opportunities would arise from higher and lower degrees of governmentintervention? Provide arationaleto supportyour selected marketstructure. 
 
Topic3DQ2 
Feb16-20, 2023 
 
How do firms contribute to the efficiency of the market economy in ways that networks ofindependentcontractorsdonot?Useyourorganization, oronewithwhichyouarefamiliar, toillustrate your response.
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