ECO 561 Week 2 Complete Work (Assignment And Dqs) A Graded

ECO 561 Week 2 Complete Work (Assignment And Dqs) A Graded

 

ECO 561 Week 2 Individual Assignment Market Equilibration Process Paper and Presentation

Understanding how market equilibrium is maintained is essential for business managers. As a manager, it is important to understand how economic principles, and specifically supply and demand, are a part of your everyday business decisions.

For this assignment, relate the concepts of the market equilibrating process in the Weeks One and Two readings and learning activities to a prior real-world experience occurring in a free market. The experience does not necessarily have to be work related.

Explain the market equilibrating process in relation to your experience. Include academic research to support your ideas.

Consider the following components in your explanation:

·  Law of demand and the determinants of demand

·  Law of supply and the determinants of supply

·  Efficient markets theory

·  Surplus and shortage

Use University of Phoenix Material: Appendix A to create graphs illustrating the equilibrating process in price relation to the shift in supply and demand.

Deliver the content as a 350- to 500-word paper, plus 3- to 5 slide Microsoft® PowerPoint® presentation, or 2- to 3-minute video, or 1-page comic strip illustration.

Format your citations and references consistent with APA guidelines. Because this assignment is a personal reflection, use first-person pronouns when applicable.

Week 2 Reflection

Discuss this week’s objectives with your team. Your discussion should include the topics you feel comfortable with, any topics you struggled with, and how the weekly topics relate to application in your field.

Prepare a 1- to 3-page paper detailing the findings of your discussion

Week 2 Discussion Questions

What marginal costs does University of Phoenix incur in offering one more ECO/561 class? What marginal revenues does University of Phoenix earn from each additional ECO/561 class? How would you expect this marginal analysis to affect the volume of classes University of Phoenix offers? Does University of Phoenix maximize profits?

 

Businesses often decide between using automation and labor in production. An automotive environment may have high fixed costs and low variable costs, and an industry that utilizes manual labor for production will have low fixed costs and high variable costs. How would you describe the balance between the costs of automation, or fixed costs, and the costs of labor, or variable costs? How has technology changed the balance between automation and labor? What type of industry benefits the most from technological innovation?

 

Choose an organization that has a high fixed cost and low variable cost balance to run its operations. Discuss the balance of fixed and variable costs for the organization. How can the organization use technology to change this balance for an advantage?

 

As a student, what opportunity costs do you confront by enrolling in University of Phoenix’s MBA program? Does your organization or an organization with which you are familiar consider opportunity costs when evaluating strategic opportunities? For your organization, are opportunity costs fixed costs, variable costs, both, or neither?

ECO 561 Week 2 Complete Work (Assignment And Dqs) A Graded