Question Details

Eco 365 complete

Question Details:
Eco 365 complete

Week2

Production and Cost Analysis

2.1 Describe the relationship between the number of inputs and the law of diminishing marginal productivity.

2.2 Analyze the relationship between productivity and the cost of production.

2.3 Analyze the effect of changes in the supply of and demand for factors of production on the price of inputs.

2.4 Analyze the effect of changes in marginal revenues and costs on a firm’s profit-making potential.

Objectives/Competencies

Required Learning Activities

• Microeconomics, Ch. 11

• Microeconomics, Ch. 12

• Microeconomics, Ch. 13

• Supply Chain Processes

• Watch the "Supply Chain Processes" video.

Instructions

• Modular Manufacturing

• Watch the "Modular Manufacturing" video.

Instructions

• Lean Production

• Watch the "Lean Production" video.

Instructions

• Supply and Demand Simulation

• Complete the Supply and Demand simulation.

Instructions

• Marginal Cost and Average Total Cost

• Watch the "Marginal Cost and Average Total Cost" video.

Note: All content is available for free at khanacademy.org

Instructions

• Marginal Revenue Below Average Cost

• Watch the "Marginal Cost and Below Average Total Cost" video.

Note: All content is available for free at khanacademy.org

Instructions

• Assessment Activity - Library Research, Part 2

• Resource: Library resources from Week 1 Activity

Locate a minimum of 3 sources from the databases/sources found in the Week 1 Activity that you might use in your upcoming assignments.

Instructions

• Collaborative Activity - Elasticity Discussion

• Discuss the following as a team to be used for the Week 3 short paper.

What is the difference between complementary and substitutes products? Why is this an important distinction?

Click the New Message icon and share your answer to the questios.

Instructions

Assignments

See the student website for additional recommended learning activities that may help you learn this week's concepts.

Title Type Due

Assignment-1-Microeconomics and the Laws of Supply and Demand

Complete the Supply and Demand Simulation located on the student

website.

Write a 700 - 1,050-word paper summarizing the content of the

simulation, and address the following:

Identify two microeconomics and two macroeconomics principles or

concepts from the simulation.

Explain why you have categorized these selected principles or concepts

as microeconomics or macroeconomics.

Identify at least one shift of the supply curve and one shift of the

demand curve in the simulation.

Explain what causes the shifts, and how each shift affects the

equilibrium price, quantity, and decision making.

Include responses to the following:

• How may you apply what you learned about supply and demand

from the simulation to your workplace or your understanding of a realworld

product with which you are familiar?

• How do the concepts of microeconomics help you understand the

factors that affect shifts in supply and demand on equilibrium price and

quantity?

• How do the concepts of macroeconomics help you understand the

factors that affect shifts in supply and demand on the equilibrium price

and quantity?

• How does the price elasticity of demand affect a consumer's

purchasing and the firm's pricing strategy, as it relates to the

simulation?

Format your paper consistent with APA guidelines.

Individual

Assignment 2-Elasticity Paper

Reflect on why some products become substitutes and why some are

complements (e.g. hot dogs and hot dog buns).

Prepare a 350- to 1,050- word paper detailing the findings of your

discussion.

Learning

team

Week3

Market Structure

3.1 Compare various market structures and their characteristics.

3.2 Evaluate the effectiveness of competitive strategies within market structures.

3.3 Determine profit-maximizing strategies based on market structure analysis.

Objectives/Competencies

Required Learning Activities

• Microeconomics, Ch. 13

• Microeconomics, Ch. 14

• Microeconomics, Ch. 15

• Microeconomics, Ch. 16

• Perfect Competition

• Watch the"Perfect Competition" video.

Note: All content is available for free at khanacademy.org

Instructions

• Monopoly Basics

• Watch the"Monopoly Basics" video.

Note: All content is available for free at khanacademy.org

Instructions

• Monopolistic Optimizing Price

• Watch the "Monopolist Optimizing Price" video.

Note: All content is available for free at khanacademy.org

Instructions

• Comparative Advantage and Gains from Trade

• Watch the"Comparative Advantage and Gains from Trade" video.

Note: All content is available for free at khanacademy.org

Instructions

• Assessment Activity - Challenging Concept, Week 3

• Answer the following question:

What is the most difficult or challenging concept from Week 3? What do you find most challenging about this?

Click the New Message icon and post your answer. Reply to other classmates posts.

Instructions

• Collaborative Activity - Research the Current Market Conditions and Market Analysis paper

• Research and prepare for the Current Conditions and Market Analysis paper due in Week 3.

Discuss and share research as a Learning Team.

Instructions

Assignments

See the student website for additional recommended learning activities that may help you learn this week's concepts.

Assignment 1-Current Market Conditions Competitive Analysis

Imagine you are part of a strategic planning group at a large corporation

that is considering developing a new proposed product. The marketing

director has asked your team to do a competitive market analysis to

determine the product’s potential success. The analysis will focus on

your primary competitor in the product’s market.

Select a potential competitive organization and a product in that

organization.

Write a 1,400 – 1,750-word paper analyzing the current market

conditions. Address the following topics:

• A short history of the organization and a description of their product

• Factors that affect demand, supply, and equilibrium prices in the

market in which the competitor organization operates: Define the

market for your chosen product, including an analysis of its competitors,

potential customers, or potential buyers.

• Any issues or opportunities your organization or industry faces that

affect its competitiveness and long-term profitability with regards to your

product: This may include, but is not limited, to the following elements.

• Price elasticity of demand

• Technological innovation

• The relationship between the amount of labor & capital employed

and the law of diminishing marginal productivity

• Cost structure

• Factors affecting variable costs, including productivity and others that

change the supply of and demand for labor

• Factors affecting fixed costs

Make recommendations on how your organization can maximize their

profit-making potential, and successfully compete in the new market.

Consider the effect your recommendations may have on marginal

revenues and costs.

Format your paper consistent with APA guidelines.

Week4

Public Policy in Economics

4.1 Analyze the effect of externalities on market outcomes.

4.2 Differentiate among horizontal, vertical, and conglomerate mergers.

4.3 Analyze the effects of a joint venture.

4.4 Analyze the effect of government interventions, taxation, and regulations on economic behavior.

Objectives/Competencies

Required Learning Activities

• Microeconomics, Ch. 7

• Microeconomics, Ch. 8

• Negative Externalities

• Watch the "Negative Externalities" video.

Note: All content is available for free at khanacademy.org

Instructions

• Taxes for Factoring in Negative Externalities

• Watch the "Taxes for Factoring in Negative Externalities" video

Note: All content is available for free at khanacademy.org

Instructions

• Tragedy of the Commons

• Watch the "Tragedy of the Commons" video.

Note: All content is available for free at khanacademy.org

Instructions

• Positive Externalities

• Watch the "Positive Externalities" video.

Note: All content is available for free at khanacademy.org

Instructions

• Taxation and Government Discussion

• Answer the following question:

How do taxation and government regulations affect the U.S. microeconomy?

Click the New Message icon to post your response. Reply to fellow classmates posts.

Instructions

• Collaborative Activity - Peer Review: Differentiating Between Market Structures

• Share the team member's Week 4 assignments, Differentiating Between Market Structures papers, among the team members.

Provide feedback on the team members' papers.

Instructions

Discuss the feedback as a team.

Assignments

See the student website for additional recommended learning activities that may help you learn this week's concepts.

Assignment 1-Differentiating Between Market Structures

You will apply important microeconomics concepts toward the

competitive strategies of an organization that operates in an industry of

your choice. You will evaluate the differences between market

structures and identify a group of competitive strategies consistent with

the market structure that best aligns with the market in which the

organization competes. You will assess how the market structure

positively and negatively affects the firm and evaluate the efficacy of the

structure's competitive strategies.

Select an industry. Identify an organization in that industry. You may

use the company you used for the Week 3 Learning Team assignment

or you may select a new organization. Your selected organization must

be submitted for instructor approval.

Identify the market structure in which this organization competes.

Clearly indicate why the market structure was decided upon, and how

this market structure differentiates from the other alternatives.

• How might the company you selected find itself working with

organizations in the same industry that are an oligopoly, perfect

competition, monopoly, or monopolistic market structure. Examine the

different sectors with an industry and how market structure may vary

within those sectors.

Identify three or more competitive strategies of your choice that may be

used by the organization to maximize its profits over the long run.

Evaluate the efficacy of these strategies in the market structure you

identified.

Make recommendations related to the strategies the organization might

consider to maximize its profits.

Select one of the following assignment options:

Paper

Write a 1,400- to 1,750- word paper.

Format consistent with APA guidelines.

PowerPoint® Presentation:

Create a 12-15 slide Microsoft® PowerPoint® presentation including

detailed speaker notes.

Video

Create a 3-5 minute video

Assignment 2-Mergers and Joint Ventures

Discuss the differences between horizontal, vertical and conglomerate

mergers and how those differ from a joint venture.

Prepare a 350- to 1,050- word paper detailing the findings of your

discussion.

Week5

Global Competition

5.1 Determine the effect of global competition on an organization’s strategies for maximizing profits.

5.2 Analyze the effect of global competition on the relationship between management and labor.

5.3 Analyze how a multinational organization is successful in a local market.

Objectives/Competencies

Required Learning Activities

• Microeconomics, Ch. 2 section "Globalization and the Law of One Price"

• Microeconomics, Ch. 9

• Microeconomics, Ch. 10

• Benefits of Global Competition

• Watch the "Benefits of Global Competition" video.

Instructions

• Paradox of Global Competition

• Watch the "Paradox of Global Competition" video.

Instructions

• Global Competition

• Watch the "Global Competition" video.

Instructions

• Increased Competitive Pressures of Globalization

• Watch the "Increased Competitive Pressures of Globalization" video.

Instructions

• Assessment Activity - Most Challenging Concept

• Discuss the following question:

What did you find to be the most challenging concept covered during ECO/365?

Click the New Message icon and share your answers.

Reply to your classmates' posts with any feedback or ideas.

Instructions

• Collaborative Activity - Research the Competitive Strategies and Government Policies paper

• Research and prepare for the Government Policies and Globalization paper due in Week 5.

Discuss and share research as a Learning Team.

Instructions

Assignments

See the student website for additional recommended learning activities that may help you learn this week's concepts.

Assignment 1-Competitive Strategies and Government Policies

Management has recognized the effect of changes in the real-world

competitive environment and government policies on other industries

and anticipates similar events occurring in their industry, so they ask

you for a report considering the following points.

Write 1,400 -1,750-word paper of no more than in which you describe

how each of the following are or potentially will affect your industry or

one with which you are familiar:

• New companies entering the market, mergers, and globalization, on

pricing and the sustainability of profits: Identify the type of merger

activity in your industry or one with which you are familiar-horizontal,

vertical, or conglomerate-and explain why you made that choice.

• Current and expected government policies and regulations, including

taxes and regulations in place to address issues related to externalities

• Global competition on the decisions made by management with

regards to change in labor demand, supply, relations, unions, and rules

and regulations in your chosen industry

• Global/multinational corporations and their ability to still remain

competitive on a local level.

Recommend how the industry you chose may respond to each of the

previous points.

Format your paper consistent with APA guidelines.Academic Resources

• Program Map

Instructions

• Review the Program Map.

SupportingMaterial

• Program Map

• Writing and Style Guidelines (APA)

Instructions

• Review the Writing and Style Guidelines (APA).

SupportingMaterial

• Writing and Style Guidelines (APA)

• New APA Paper Template: 300-499

Instructions

• Review the New APA Paper Template: 300-499.

SupportingMaterial

• New APA Paper Template: 300-499

Get Ready for Class

• Familiarize yourself with the textbooks used in this course.

Instructions

• Colander, D. C. (2013). Microeconomics (9th ed.). New York, NY: McGraw-Hill.

Week2

Production and Cost Analysis

2.1 Describe the relationship between the number of inputs and the law of diminishing marginal productivity.

2.2 Analyze the relationship between productivity and the cost of production.

2.3 Analyze the effect of changes in the supply of and demand for factors of production on the price of inputs.

2.4 Analyze the effect of changes in marginal revenues and costs on a firm’s profit-making potential.

Objectives/Competencies

Required Learning Activities

• Microeconomics, Ch. 11

• Microeconomics, Ch. 12

• Microeconomics, Ch. 13

• Supply Chain Processes

• Watch the "Supply Chain Processes" video.

Instructions

• Modular Manufacturing

• Watch the "Modular Manufacturing" video.

Instructions

• Lean Production

• Watch the "Lean Production" video.

Instructions

• Supply and Demand Simulation

• Complete the Supply and Demand simulation.

Instructions

• Marginal Cost and Average Total Cost

• Watch the "Marginal Cost and Average Total Cost" video.

Note: All content is available for free at khanacademy.org

Instructions

• Marginal Revenue Below Average Cost

• Watch the "Marginal Cost and Below Average Total Cost" video.

Note: All content is available for free at khanacademy.org

Instructions

• Assessment Activity - Library Research, Part 2

• Resource: Library resources from Week 1 Activity

Locate a minimum of 3 sources from the databases/sources found in the Week 1 Activity that you might use in your upcoming assignments.

Instructions

• Collaborative Activity - Elasticity Discussion

• Discuss the following as a team to be used for the Week 3 short paper.

What is the difference between complementary and substitutes products? Why is this an important distinction?

Click the New Message icon and share your answer to the questios.

Instructions

Assignments

See the student website for additional recommended learning activities that may help you learn this week's concepts.

Title Type Due

Assignment-1-Microeconomics and the Laws of Supply and Demand

Complete the Supply and Demand Simulation located on the student

website.

Write a 700 - 1,050-word paper summarizing the content of the

simulation, and address the following:

Identify two microeconomics and two macroeconomics principles or

concepts from the simulation.

Explain why you have categorized these selected principles or concepts

as microeconomics or macroeconomics.

Identify at least one shift of the supply curve and one shift of the

demand curve in the simulation.

Explain what causes the shifts, and how each shift affects the

equilibrium price, quantity, and decision making.

Include responses to the following:

• How may you apply what you learned about supply and demand

from the simulation to your workplace or your understanding of a realworld

product with which you are familiar?

• How do the concepts of microeconomics help you understand the

factors that affect shifts in supply and demand on equilibrium price and

quantity?

• How do the concepts of macroeconomics help you understand the

factors that affect shifts in supply and demand on the equilibrium price

and quantity?

• How does the price elasticity of demand affect a consumer's

purchasing and the firm's pricing strategy, as it relates to the

simulation?

Format your paper consistent with APA guidelines.

Individual

Assignment 2-Elasticity Paper

Reflect on why some products become substitutes and why some are

complements (e.g. hot dogs and hot dog buns).

Prepare a 350- to 1,050- word paper detailing the findings of your

discussion.

Learning

team

Week3

Market Structure

3.1 Compare various market structures and their characteristics.

3.2 Evaluate the effectiveness of competitive strategies within market structures.

3.3 Determine profit-maximizing strategies based on market structure analysis.

Objectives/Competencies

Required Learning Activities

• Microeconomics, Ch. 13

• Microeconomics, Ch. 14

• Microeconomics, Ch. 15

• Microeconomics, Ch. 16

• Perfect Competition

• Watch the"Perfect Competition" video.

Note: All content is available for free at khanacademy.org

Instructions

• Monopoly Basics

• Watch the"Monopoly Basics" video.

Note: All content is available for free at khanacademy.org

Instructions

• Monopolistic Optimizing Price

• Watch the "Monopolist Optimizing Price" video.

Note: All content is available for free at khanacademy.org

Instructions

• Comparative Advantage and Gains from Trade

• Watch the"Comparative Advantage and Gains from Trade" video.

Note: All content is available for free at khanacademy.org

Instructions

• Assessment Activity - Challenging Concept, Week 3

• Answer the following question:

What is the most difficult or challenging concept from Week 3? What do you find most challenging about this?

Click the New Message icon and post your answer. Reply to other classmates posts.

Instructions

• Collaborative Activity - Research the Current Market Conditions and Market Analysis paper

• Research and prepare for the Current Conditions and Market Analysis paper due in Week 3.

Discuss and share research as a Learning Team.

Instructions

Assignments

See the student website for additional recommended learning activities that may help you learn this week's concepts.

Assignment 1-Current Market Conditions Competitive Analysis

Imagine you are part of a strategic planning group at a large corporation

that is considering developing a new proposed product. The marketing

director has asked your team to do a competitive market analysis to

determine the product’s potential success. The analysis will focus on

your primary competitor in the product’s market.

Select a potential competitive organization and a product in that

organization.

Write a 1,400 – 1,750-word paper analyzing the current market

conditions. Address the following topics:

• A short history of the organization and a description of their product

• Factors that affect demand, supply, and equilibrium prices in the

market in which the competitor organization operates: Define the

market for your chosen product, including an analysis of its competitors,

potential customers, or potential buyers.

• Any issues or opportunities your organization or industry faces that

affect its competitiveness and long-term profitability with regards to your

product: This may include, but is not limited, to the following elements.

• Price elasticity of demand

• Technological innovation

• The relationship between the amount of labor & capital employed

and the law of diminishing marginal productivity

• Cost structure

• Factors affecting variable costs, including productivity and others that

change the supply of and demand for labor

• Factors affecting fixed costs

Make recommendations on how your organization can maximize their

profit-making potential, and successfully compete in the new market.

Consider the effect your recommendations may have on marginal

revenues and costs.

Format your paper consistent with APA guidelines.

Week4

Public Policy in Economics

4.1 Analyze the effect of externalities on market outcomes.

4.2 Differentiate among horizontal, vertical, and conglomerate mergers.

4.3 Analyze the effects of a joint venture.

4.4 Analyze the effect of government interventions, taxation, and regulations on economic behavior.

Objectives/Competencies

Required Learning Activities

• Microeconomics, Ch. 7

• Microeconomics, Ch. 8

• Negative Externalities

• Watch the "Negative Externalities" video.

Note: All content is available for free at khanacademy.org

Instructions

• Taxes for Factoring in Negative Externalities

• Watch the "Taxes for Factoring in Negative Externalities" video

Note: All content is available for free at khanacademy.org

Instructions

• Tragedy of the Commons

• Watch the "Tragedy of the Commons" video.

Note: All content is available for free at khanacademy.org

Instructions

• Positive Externalities

• Watch the "Positive Externalities" video.

Note: All content is available for free at khanacademy.org

Instructions

• Taxation and Government Discussion

• Answer the following question:

How do taxation and government regulations affect the U.S. microeconomy?

Click the New Message icon to post your response. Reply to fellow classmates posts.

Instructions

• Collaborative Activity - Peer Review: Differentiating Between Market Structures

• Share the team member's Week 4 assignments, Differentiating Between Market Structures papers, among the team members.

Provide feedback on the team members' papers.

Instructions

Discuss the feedback as a team.

Assignments

See the student website for additional recommended learning activities that may help you learn this week's concepts.

Assignment 1-Differentiating Between Market Structures

You will apply important microeconomics concepts toward the

competitive strategies of an organization that operates in an industry of

your choice. You will evaluate the differences between market

structures and identify a group of competitive strategies consistent with

the market structure that best aligns with the market in which the

organization competes. You will assess how the market structure

positively and negatively affects the firm and evaluate the efficacy of the

structure's competitive strategies.

Select an industry. Identify an organization in that industry. You may

use the company you used for the Week 3 Learning Team assignment

or you may select a new organization. Your selected organization must

be submitted for instructor approval.

Identify the market structure in which this organization competes.

Clearly indicate why the market structure was decided upon, and how

this market structure differentiates from the other alternatives.

• How might the company you selected find itself working with

organizations in the same industry that are an oligopoly, perfect

competition, monopoly, or monopolistic market structure. Examine the

different sectors with an industry and how market structure may vary

within those sectors.

Identify three or more competitive strategies of your choice that may be

used by the organization to maximize its profits over the long run.

Evaluate the efficacy of these strategies in the market structure you

identified.

Make recommendations related to the strategies the organization might

consider to maximize its profits.

Select one of the following assignment options:

Paper

Write a 1,400- to 1,750- word paper.

Format consistent with APA guidelines.

PowerPoint® Presentation:

Create a 12-15 slide Microsoft® PowerPoint® presentation including

detailed speaker notes.

Video

Create a 3-5 minute video

Assignment 2-Mergers and Joint Ventures

Discuss the differences between horizontal, vertical and conglomerate

mergers and how those differ from a joint venture.

Prepare a 350- to 1,050- word paper detailing the findings of your

discussion.

Week5

Global Competition

5.1 Determine the effect of global competition on an organization’s strategies for maximizing profits.

5.2 Analyze the effect of global competition on the relationship between management and labor.

5.3 Analyze how a multinational organization is successful in a local market.

Objectives/Competencies

Required Learning Activities

• Microeconomics, Ch. 2 section "Globalization and the Law of One Price"

• Microeconomics, Ch. 9

• Microeconomics, Ch. 10

• Benefits of Global Competition

• Watch the "Benefits of Global Competition" video.

Instructions

• Paradox of Global Competition

• Watch the "Paradox of Global Competition" video.

Instructions

• Global Competition

• Watch the "Global Competition" video.

Instructions

• Increased Competitive Pressures of Globalization

• Watch the "Increased Competitive Pressures of Globalization" video.

Instructions

• Assessment Activity - Most Challenging Concept

• Discuss the following question:

What did you find to be the most challenging concept covered during ECO/365?

Click the New Message icon and share your answers.

Reply to your classmates' posts with any feedback or ideas.

Instructions

• Collaborative Activity - Research the Competitive Strategies and Government Policies paper

• Research and prepare for the Government Policies and Globalization paper due in Week 5.

Discuss and share research as a Learning Team.

Instructions

Assignments

See the student website for additional recommended learning activities that may help you learn this week's concepts.

Assignment 1-Competitive Strategies and Government Policies

Management has recognized the effect of changes in the real-world

competitive environment and government policies on other industries

and anticipates similar events occurring in their industry, so they ask

you for a report considering the following points.

Write 1,400 -1,750-word paper of no more than in which you describe

how each of the following are or potentially will affect your industry or

one with which you are familiar:

• New companies entering the market, mergers, and globalization, on

pricing and the sustainability of profits: Identify the type of merger

activity in your industry or one with which you are familiar-horizontal,

vertical, or conglomerate-and explain why you made that choice.

• Current and expected government policies and regulations, including

taxes and regulations in place to address issues related to externalities

• Global competition on the decisions made by management with

regards to change in labor demand, supply, relations, unions, and rules

and regulations in your chosen industry

• Global/multinational corporations and their ability to still remain

competitive on a local level.

Recommend how the industry you chose may respond to each of the

previous points.

Format your paper consistent with APA guidelines.

Attachments


Solution Details:
Eco-365 complete

Week2

Production and Cost Analysis

2.1 Describe the relationship between the number of inputs and the law of diminishing marginal productivity.

2.2 Analyze the relationship between productivity and the cost of production.

2.3 Analyze the effect of changes in the supply of and demand for factors of production on the price of inputs.

2.4 Analyze the effect of changes in marginal revenues and costs on a firm’s profit-making potential.

Objectives/Competencies

Required Learning Activities

• Microeconomics, Ch. 11

• Microeconomics, Ch. 12

• Microeconomics, Ch. 13

• Supply Chain Processes

• Watch the "Supply Chain Processes" video.

Instructions

• Modular Manufacturing

• Watch the "Modular Manufacturing" video.

Instructions

• Lean Production

• Watch the "Lean Production" video.

Instructions

• Supply and Demand Simulation

• Complete the Supply and Demand simulation.

Instructions

• Marginal Cost and Average Total Cost

• Watch the "Marginal Cost and Average Total Cost" video.

Note: All content is available for free at khanacademy.org

Instructions

• Marginal Revenue Below Average Cost

• Watch the "Marginal Cost and Below Average Total Cost" video.

Note: All content is available for free at khanacademy.org

Instructions

• Assessment Activity - Library Research, Part 2

• Resource: Library resources from Week 1 Activity

Locate a minimum of 3 sources from the databases/sources found in the Week 1 Activity that you might use in your upcoming assignments.

Instructions

• Collaborative Activity - Elasticity Discussion

• Discuss the following as a team to be used for the Week 3 short paper.

What is the difference between complementary and substitutes products? Why is this an important distinction?

Click the New Message icon and share your answer to the questios.

Instructions

Assignments

See the student website for additional recommended learning activities that may help you learn this week's concepts.

Title Type Due

Assignment-1-Microeconomics and the Laws of Supply and Demand

Complete the Supply and Demand Simulation located on the student

website.

Write a 700 - 1,050-word paper summarizing the content of the

simulation, and address the following:

Identify two microeconomics and two macroeconomics principles or

concepts from the simulation.

Explain why you have categorized these selected principles or concepts

as microeconomics or macroeconomics.

Identify at least one shift of the supply curve and one shift of the

demand curve in the simulation.

Explain what causes the shifts, and how each shift affects the

equilibrium price, quantity, and decision making.

Include responses to the following:

• How may you apply what you learned about supply and demand

from the simulation to your workplace or your understanding of a realworld

product with which you are familiar?

• How do the concepts of microeconomics help you understand the

factors that affect shifts in supply and demand on equilibrium price and

quantity?

• How do the concepts of macroeconomics help you understand the

factors that affect shifts in supply and demand on the equilibrium price

and quantity?

• How does the price elasticity of demand affect a consumer's

purchasing and the firm's pricing strategy, as it relates to the

simulation?

Format your paper consistent with APA guidelines.

Individual

Assignment 2-Elasticity Paper

Reflect on why some products become substitutes and why some are

complements (e.g. hot dogs and hot dog buns).

Prepare a 350- to 1,050- word paper detailing the findings of your

discussion.

Learning

team

Week3

Market Structure

3.1 Compare various market structures and their characteristics.

3.2 Evaluate the effectiveness of competitive strategies within market structures.

3.3 Determine profit-maximizing strategies based on market structure analysis.

Objectives/Competencies

Required Learning Activities

• Microeconomics, Ch. 13

• Microeconomics, Ch. 14

• Microeconomics, Ch. 15

• Microeconomics, Ch. 16

• Perfect Competition

• Watch the"Perfect Competition" video.

Note: All content is available for free at khanacademy.org

Instructions

• Monopoly Basics

• Watch the"Monopoly Basics" video.

Note: All content is available for free at khanacademy.org

Instructions

• Monopolistic Optimizing Price

• Watch the "Monopolist Optimizing Price" video.

Note: All content is available for free at khanacademy.org

Instructions

• Comparative Advantage and Gains from Trade

• Watch the"Comparative Advantage and Gains from Trade" video.

Note: All content is available for free at khanacademy.org

Instructions

• Assessment Activity - Challenging Concept, Week 3

• Answer the following question:

What is the most difficult or challenging concept from Week 3? What do you find most challenging about this?

Click the New Message icon and post your answer. Reply to other classmates posts.

Instructions

• Collaborative Activity - Research the Current Market Conditions and Market Analysis paper

• Research and prepare for the Current Conditions and Market Analysis paper due in Week 3.

Discuss and share research as a Learning Team.

Instructions

Assignments

See the student website for additional recommended learning activities that may help you learn this week's concepts.

Assignment 1-Current Market Conditions Competitive Analysis

Imagine you are part of a strategic planning group at a large corporation

that is considering developing a new proposed product. The marketing

director has asked your team to do a competitive market analysis to

determine the product’s potential success. The analysis will focus on

your primary competitor in the product’s market.

Select a potential competitive organization and a product in that

organization.

Write a 1,400 – 1,750-word paper analyzing the current market

conditions. Address the following topics:

• A short history of the organization and a description of their product

• Factors that affect demand, supply, and equilibrium prices in the

market in which the competitor organization operates: Define the

market for your chosen product, including an analysis of its competitors,

potential customers, or potential buyers.

• Any issues or opportunities your organization or industry faces that

affect its competitiveness and long-term profitability with regards to your

product: This may include, but is not limited, to the following elements.

• Price elasticity of demand

• Technological innovation

• The relationship between the amount of labor & capital employed

and the law of diminishing marginal productivity

• Cost structure

• Factors affecting variable costs, including productivity and others that

change the supply of and demand for labor

• Factors affecting fixed costs

Make recommendations on how your organization can maximize their

profit-making potential, and successfully compete in the new market.

Consider the effect your recommendations may have on marginal

revenues and costs.

Format your paper consistent with APA guidelines.

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