Microeconomics

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Instructions

In order to obtain your max grade for each   question you should be as original as possible (USE YOUR OWN WORDS), mix and   match will be accepted, but complete “paraphrasing of the textbook”   will incur in points deduction. 

Your answers should come from the readings of your   textbook, and not from the Internet sources, make sure that when you   paraphrase the textbook that you reference the source. 

Please note that you will be able to review/see the   feedback given by me for your incorrect and/or answers where you   did not achieve the maximum grade after I evaluate you.

Best of Luck!

QUESTION 1

What is Microeconomics? Why is it important?

QUESTION 2

What is the law of supply? Give an example of how you observed the law of supply at work in the “real world.”

QUESTION 3

Explain the following terms:

– Unit elastic

– Perfectly elastic

– Perfectly inelastic

QUESTION 4

What is the “law of diminishing marginal utility”? Give an example.

QUESTION 5

Explain the difference between implicit and explicit production costs.

QUESTION 6

  List and discuss at least three requirements for perfect competition.

QUESTION 7

Explain the following “resource market” terms:

– Labor

– Capital

– Raw materials

QUESTION 8

What is meant by Antitrust regulations” Why is it important?

QUESTION 9

Discuss two sources of air pollution and what can/should be done about it.

QUESTION 10

What is the Lorenz curve? Why is it important?

QUESTION 11

Explain two of the following terms:

– Import Quotas

– GATT

– NAFTA     

 
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ECO 201 Milestone Three

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ECO 201 Milestone Three Guidelines and Rubric The purpose of this milestone is for students to explore the various costs their firm faces and to describe their firm’s market. Using the concepts and tools developed in Modules Four and Five, students will analyze the fixed and variable costs of their firm, how those costs have changed over time, and how those changes have impacted their firm’s overall health and sustainability. In analyzing their firm’s market, students will detail the extent of their firm’s market power and their firm’s ability to influence the market. Students will also describe major trends in the market, specifically concerning new products, technologies, and new entrants. Students can further determine the future health of their firm to inform their final recommendations by examining their firm’s place within the market. Prompt: Submit a draft of the Costs of Production (Section IV), Overall Market (Section V), and Recommendation (Section VI) of your research paper, including all critical elements listed below. You will review your firm’s financial reports and other relevant data sources to collect and analyze cost information for your firm over the past five or so years. Using real data and the economic tools developed in Module Four, you will analyze your firm’s profitability and how costs impact its growth. Additionally, you will find data on your firm’s competitors in order to detail your firm’s place within the market currently and over the past five or so years. Lastly, you will develop a recommendation for how the firm can manage its future production. Specifically the following critical elements must be addressed: IV. Examine the costs of production for your firm. a) Analyze the various costs a firm faces, their trends over time, and how they have impacted your firm’s profitability. b) Apply the concepts of variable and fixed costs to your firm for informing its output decisions. For instance, analyze how different kinds of costs (labor, research and development, raw materials) affect the firm’s level of output. V. Explore the overall market for your firm. a) Discuss the market share of the firm and its top competitors by providing details on current percentages for each firm and describing the trend over time. You might consider presenting the data graphically. b) Analyze the barriers to entry in this market to illustrate the potential for new competition and its impact on your firm’s future in the market. c) Describe the market structure for this firm and analyze how this affects the firm’s ability to influence the market. VI. Recommendation a) Develop a recommendation for how the firm can manage its future production by synthesizing the data presented. b) Suggest how the firm’s position within the market and among its competitors will allow it to take your recommended action. c) Describe how the firm can sustain its success going forward by evaluating the findings from demand trends and price elasticity. Rubric Guidelines for Submission: Your paper must be submitted as a three- to six-page Microsoft Word document (each section should be one to two pages) with double spacing, 12-point Times New Roman font, one-inch margins, and sources cited in APA format. Critical Elements Proficient (100%) Needs Improvement (75%) Not Evident (0%) Value Costs of Production: Profitability Analyzes the various costs a firm faces, their trends over time, and how they have impacted the firm’s profitability Analyzes the various costs a firm faces, and their trends over time, but does not discuss how they have impacted the firm’s profitability Does not analyze the various costs a firm faces, their trends over time, or how they have impacted the firm’s profitability 12 Costs of Production: Output Decisions Accurately applies the concepts of variable and fixed costs to the firm for informing its output decisions Applies the concepts of variable and fixed costs to the firm for informing its output decisions, but applies concepts inaccurately Does not apply the concepts of variable and fixed costs to the firm for informing its output decisions 12 Overall Market: Market Share Discusses the market share of the firm and its top competitors by providing details on current percentages for each firm and describing the trend over time Discusses the market share of the firm and its top competitors, but does not provide details on current percentages for each firm or does not describe the trend over time Does not discuss the market share of the firm and its top competitors 12 Overall Market: Barriers to Entry Analyzes the barriers to entry in this market to illustrate the potential for new competition and its impact on the firm’s future in the market Analyzes the barriers to entry in this market, but does not illustrate the potential for new competition or its impact on the firm’s future in the market Does not analyze the barriers to entry in this market 12 Overall Market: Market Structure Describes the market structure for this firm and accurately analyzes how this affects the firm’s ability to influence the market Describes the market structure for this firm, but does not analyze how this affects the firm’s ability to influence the market or analysis is inaccurate Does not describe the market structure for this firm 12 Recommendation: Future Production Effectively develops a recommendation for how the firm can manage its future production by synthesizing the data presented Develops a recommendation for how the firm can manage its future production, but recommendation is not effective or is not based on a synthesis of the data presented Does not develop a recommendation 12 Recommendation: Recommended Action Suggests how the firm’s position within the market and among its competitors will allow it to take the recommended action Suggests how the firm’s position within the market and among its competitors will allow it to take the recommended action, but suggestions are not appropriate Does not suggest how the firm’s position within the market and among its competitors will allow it to take the recommended action 12 Recommendation: Sustain its Success Describes how the firm can sustain its success going forward by evaluating the findings from demand trends and price elasticity Describes how the firm can sustain its success going forward, but does not evaluate the findings from demand trends and price elasticity in the discussion Does not describe how the firm can sustain its success going forward 12 Articulation of Response Submission has no major errors related to citations, grammar, spelling, syntax, or organization Submission has major errors related to citations, grammar, spelling, syntax, or organization that negatively impact readability and articulation of main ideas Submission has critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas 4 Earned Total 100%

 
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Equal Employment Opportunity Commission (EEOC)

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You will want to review the Equal Employment Opportunity Commission (EEOC) website to understand the principles associated with employment opportunity and potential consequences when these principles are not followed as required. Equally important for your review is the Americans with Disabilities Act. Respond to the following in a minimum of 175 words: 

1.   Describe one group protected by the EEOC and summarize the related legislation. Are all groups fairly represented? Are any groups missing? Justify your answer. 

2.   How did the passage of the Americans with Disabilities Act change workplace culture? Give at least one example. 

3.   With the significant social changes the United States has seen in the areas of population, education, labor force participation, health, technology, and the family structure, how can strict adherence to these policies encourage social change practices? 

 
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ECONOMIC

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A central theme of our course is decision making.  My main goal is for you to see the concepts, models and theories of economics in the real world, so that you can use them to make better decisions in business and life. One of the tools we use throughout the course is marginal analysis: understanding how to find the “optimal” or “efficient” quantity of something by comparing costs and benefits at the margin.

Assignment:  Write an essay explaining what “marginal” means and explain why marginal analysis leads to optimal or efficient quantities. Use applications we learned in our course (consumption decisions and production decisions) to support the answer. Adding examples from life outside of the classroom is strongly encouraged.

In short, put together a comprehensive view of a topic that was covered throughout the course. I’m not looking for a laundry list of topics. Rather, you should write a cohesive, accurate and easy-to-understand essay that someone new to economics could use to understand the idea of “marginal” and how marginal analysis works to help us make better decisions.

 
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Nursing

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1-Since prevention of post-operative infection on the operating room unit was my topic for my Capstone, it would be appropriate to present my findings to the Med-Surg nursing journal. Since a medical surgical unit was used for research, helping other surgical units prevent post-operative infection would be beneficial for patient safety. This is an environment where it is important to take every opportunity to interrupt the chain of infection.

A health care conference that would benefit from the research conducted by me through the Capstone project would be a medical-surgical nursing conference, a patient safety conference, or a nurse education conference. These would relate to the unit, relate to the specific topic and prevention, and lastly it would educate nurses on the importance of having the patient free from getting infections after any surgical procedure.

Reference

Lippincott® NursingCenter ®. (n.d.). Retrieved from https://www.nursingcenter.com/journalaccess?msclkid=

(n.d.). Retrieved from https://www.draeger.com/en_aunz/Hospital/Acute-Care-Insights/Infection-Prevention-Control/Operating-Room

2-The journal that I have chosen is a Journal of Gynecology and Neonatal Nursing. This Journal is a great opportunity for nurses to present their research in regards to nursing care in relation to women and their babies. This journal is a result of the Association of Women’s Health, Obstetric and Neonatal Nurses that work on the standardization of care for women and neonates. 

When it comes to conferences it is a little bit harder to choose the right one. Searching for the conference I have searched for the conferences this year and an I found one that is focusing on the Future of Health which involves technology. Technology is the new way to do education not only in schools but also in healthcare because it can reach more people at the same time. My project involves technology and improvement of training. 

https://www.awhonn.org/page/AWHONNJournals
https://events.cbinsights.com/future-of-health/paukwoth?utm_term=2019%20healthcare%20conference&utm_campaign=AdWords+Events&utm_source=adwords&utm_medium=ppc&hsa_tgt=kwd-774149708363&hsa_grp=72376815796&hsa_src=g&hsa_net=adwords&hsa_mt=e&hsa_ver=3&hsa_ad=358224184778&hsa_acc=5728918340&hsa_kw=2019%20healthcare%20conference&hsa_cam=1050181172&gclid=CjwKCAjw-ITqBRB7EiwAZ1c5U8zfC8HfdcFCmYhEgSIDN8WUy8ABYM77o6vDrdOo3auzu9XpYjlpQRoCc70QAvD_BwE

3-Hello professor and classmates, 

this has been a great experience and seeing myself to succeed at my age I have realized I can do a lot more from now on. The work can be more than just a paycheck and a day at work. The school gave me the confidence and motivation to do more and learn as well. After all, continuous education is a part of the nurse’s life.

 
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EEOC

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You will want to review the Equal Employment Opportunity Commission (EEOC) website to understand the principles associated with employment opportunity and potential consequences when these principles are not followed as required. Equally important for your review is the Americans with Disabilities Act. Respond to the following in a minimum of 175 words: 

1.   Describe one group protected by the EEOC and summarize the related legislation. Are all groups fairly represented? Are any groups missing? Justify your answer. 

2.   How did the passage of the Americans with Disabilities Act change workplace culture? Give at least one example. 

3.   With the significant social changes the United States has seen in the areas of population, education, labor force participation, health, technology, and the family structure, how can strict adherence to these policies encourage social change practices? 

 
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Inequality

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Inequality

By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:

  • Competency 3: Explain the significance of social stratification and social inequality for the individual and society.
    • Explain whether or not inequality is inevitable.
  • Competency 4: Analyze the influence of culture and socialization on both the individual and society.
    • Analyze whether or not equal opportunity is possible.
  • Competency 5: Evaluate the impact of social change on society and social institutions.
    • Examine potential changes to increase equality of opportunity.
    • Analyze factors to reverse or erase inequality.
  • Competency 6: Demonstrate written and verbal communication skills for effectively presenting sociological concepts, ideas, and analyses.
    • Write in a professional style using APA 6th edition referencing and format with correct grammar, usage, and mechanics.

American culture emphasizes self-sufficiency and working hard to get where you want. It is assumed that everyone has the ability to succeed if they work hard enough. You will write a paper applying key concepts from this unit to argue for or against the inevitability of inequality. For this assignment, complete the following:

  • If you have not already done so, watch A Film about Races: A Fresh Look at Diversity (link in Resources).
  • Explain why or why not you think inequality is inevitable.
  • Examine what kinds of changes would help establish greater equality of opportunity for everyone in American society.
  • Reflect on ideas of equal opportunity and analyze why or why not you think American society provides everyone with an equal opportunity for success.
  • Based on the information in this video and your readings, analyze what factors have contributed to the growth of inequality in the past few decades.
  • Analyze factors that could reverse or erase inequality.
  • Integrate and reference readings from this unit in your paper. Also be sure to use APA 6th edition format with correct grammar, usage, and mechanics.
  • Your paper should be 3–4 pages in length, excluding the cover page and the references page.
 
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nursing discussion

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Discuss why EBP is an essential component of the practice of a BSN-prepared RN. Identify two ways in which you will continue to integrate evidence into your practice and encourage it within your work environment. What obstacles could challenge this plan, and what steps will you take to minimize their impact? 

 
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Good Security Sense

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Much of security has to do with what should be “common sense.”  Read the article attached

Requirements

  1. Find examples in the media (2016, 2017 or 2018 only) where at least three of these laws were violated (can be multiple articles).  Provide links to your resources and also summarize why YOU think the issues occurred and what could have been done to have prevent them.  
  2. Do YOU think that these ‘basic’ laws still hold true today?  Why or why not?
  3. Minimum of 350 words.
 
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discussion

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“Internal Controls and Receivables” Please respond to the following:

  • Assess the external and internal factors that influence credit policy and decision making within a company that extends credit to its customer when providing a good or service on account. Next, indicate which factor you believe is most significant in today’s business environment. Provide support for your rationale.
 
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