Purpose of Assignment

In Week 1, students are introduced to the ten fundamental principles on which the study of economics is based. Throughout this course, the students will use these ten principles to better develop their understanding of economics and how society manages its scarce resources. Students will see how markets work using supply and demand for a good to determine both the quantity produced and the price at which the good sells. The concepts of equilibrium and elasticity are used to explain the sensitivity of quantity supplied and quantity demanded to changes in economic variables. Students will see how government policies impact prices and quantities in markets.

Assignment Steps

Resources: Principles of Microeconomics, Ch. 1, 2, 3, 4, and 6.

Prepare an 875-word research paper as part of a marketing research committee for your organization about current microeconomic thought and theory.

Identify the fundamental lessons the Ten Principles of Economics teaches regarding:

• How people make decisions
• How people interact
• How the economy works as a whole

Explain the following to help the committee members understand how markets work:

• How society manages its scarce resources and benefits from economic interdependence.
• Why the demand curve slopes downward and the supply curve slopes upward.
  • Where the point of equilibrium is and what does it determine?
• The impact of price controls, taxes, and elasticity on changes in supply, demand and equilibrium prices.

Format consistent with APA guidelines.

 

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Two Part Question (Be sure to answer both parts)

What does being a leader mean to you?

What does being a follower mean to you?

Discussion: The response to the facilitator’s original post should be a minimum of 100 words. The student’s initial post must be supported by at least one reference.

Sources: Approved sources for this course include the course textbook and scholarly articles from the Bethel library databases. No other source information is acceptable.

Format: intext citations are always inside a sentence. Here are three good examples:

Paraphrasing examples:

According to Manning and Curtis (2015), casting a vision is an important leadership action.

Casting a vision is an important element in leadership (Manning & Curtis, 2015).

Direct quote examples (notice the “quote” marks and page number):

Manning and Curtis (2015) state how “the first requirement for a leader is a strong sense of purpose” (p. 32).

Leadership has many requirements, but “the first requirement for a leader is a strong sense of purpose” (Manning & Curtis, 2015, p. 32).

Reference

Manning, G., & Curtis, K. (2015). The art of leadership (5th ed.). New York: McGraw Hill.

 

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Analysis of Denver Furniture Corp.

Denver Furniture Corp. is nationally recognized for making high-quality products. Management is concerned that the company is not fully exploiting its brand power. Denver’s production managers are also concerned because their plants are not operating at near full capacity. Management is currently considering a proposal to offer a new line of affordable furniture.

Those in favor of the proposal (including the vice president of production) believe that, by offering these new products, the company could attract a clientele that it is not currently servicing. Also, it could operate its plants at full capacity, thus taking better advantage of its assets.

The vice president of marketing, however, believes that the lower-priced (and lower-margin) product would have a negative impact on the sales of existing products. The vice president believes that $10,000,000 of the sales of the new product will be from customers that would have purchased the more expensive product but switched to the lower-margin product because it was available. (This is often referred to as cannibalization of existing sales.) Top management feels, however, that even with cannibalization, the company’s sales will increase and the company will be better off.

The following data are available:

(In thousands)	Current Results	Proposed Results without Cannibalization	Proposed Results with Cannibalization
Sales Revenue	$45,000	$60,000	$50,000
Net Income	$12,000	$13,000	$12,000
Average total assets	$100,000	$100,000	$100,000

Instructions:

1. Compute Denver’s return on assets, profit margin, and asset turnover; both with and without the new product line.
2. Discuss the implications that your findings in part (a) have Denver’s decision.
3. Are there any other options that Denver should consider? What impact would each of these have on the above ratios?

Show your work and use Excel or Word for your submission. The written portion of your assignment should be four to six pages in length with document and citation formatting conformity with the CSU-Global Guide to Writing and APA Requirements.

 

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Accounting

The Sarbanes-Oxley (SOX) Act put some restrictions on CPA firms that were offering multiple services to clients. Take a few moments to research the SOX Act and the restrictions that were put on CPA firms. Do you feel that this was a good way to combat fraudulent financial statements? Why? What else could be done?

Please make this 1-2 paragraphs and in APA format.

Please include a reference page and site sources within the paper.

 

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Tom wants to divorce Liz, his wife of six years but Liz wants to stay married. The couple lives in Florida and they have two daughters, ages 5 and 3. While on a business trip to Las Vegas, Tom hops over to Reno and obtains a quick divorce without difficulty, pursuant to Nevada law. He returns home and hands the divorce decree to Liz.

Liz comes to you for advice about what she should, or can, do.

Please read:


Popper v. Popper, 595 So. 2d 100 (Fla. 5th DCA 1992); and

Lopes v. Lopes, 852 So. 2d 402 (Fla. 5^th DCA 2003).

Based upon the holdings in these two cases, will Florida recognize Tom’s divorce as valid.

Please write an IRAC-style essay to answer this question. However, you need not find or use any case law other than those cases provided to you above.

 

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