ECN
360 Entire Course-GC
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ECN 360 Entire Course-GC
ECN360
ECN 360 GCU Midterm Exam
ECN 360 GCU Final Exam
ECN 360 Grand Canyon Week 1 Discussion 1
Is price elasticity of demand at GCU elastic or inelastic? What
could you do to find out?
ECN 360 Grand Canyon Week 1 Discussion 2
Most managers and executives believe their firm has an opportunity
to take advantage of economies of scale; however, many firms do not. Slect one
of the questions below and respond.
1. How could you determine if your firm has economies of scale?
2. What type(s) of firms typically have economies of scale? Which
do not?
ECN 360 Grand Canyon Week 1 Discussion 1
The long-run equilibrium for a perfectly competitive firm is
zero-profit equilibrium. Does this mean that owners of these firms have no income?
Explain.
ECN 360 Grand Canyon Week 2 Discussion 2
How does the price and level of output for a monopolist differ
from that of a purely competitive firm? Is this due to differences in the cost
of doing business? Do these differences provide a rationale for anti-trust
legislation? Explain.
ECN 360 Grand Canyon Week 3 Discussion 1
There are estimates that as many as 4,000 pizzerias open every
year in the U.S. and just as many close. Why does this continue to happen?
ECN 360 Grand Canyon Week 3 Discussion 2
The manufacturers of R.C. Cola, with 2.1% market share in the soft
drink industry, recently launched a new advertising campaign describing their
brand as a “hip alternative” to “corporate colas” like Coke and Pepsi. Why
don’t they simply try and gain market share by cutting price? What property of
oligopoly markets explains this type of behavior?
ECN 360 Grand Canyon Week 4 Discussion 1
Why would the manufacturers of autos resist attempts to establish
higher fuel efficiency standards? How would their costs, sales, and profits be
affected?
ECN 360 Grand Canyon Week 4 Discussion 2
Select one of the cases below and discuss what would happen to
marginal physical product and why:
1. More secretaries are hired in an office.
2. More professors are hired to teach economics.
3. More construction workers are hired to construct an office
building.
ECN 360 Grand Canyon Week 5 Discussion 1
Identify the Classical prescription for curing unemployment and
contrast it with the Keynesian prescription. Which prescription do you agree
with? Why?
ECN 360 Grand Canyon Week 5 Discussion 2
In 2013-2014, the nation was struggling with a persistent high
level of unemployment, low rates of economic growth, and high federal budget
deficits. Explain how solutions to these economic problems conflict with one
another. If you were economic dictator, how would you proceed against this set
of problems?
ECN 360 Grand Canyon Week 6 Discussion 1
Classical economic theory says there is a linkage between
investment and savings. Explain the source of this linkage. What is the
argument that says this link is not as strong as classical economists believe?
(Hint: Differentiate between the parties that save and those that invest, and
their rationale.)
ECN 360 Grand Canyon Week 6 Discussion 2
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