ECN 601 Economics (ECN601)
Grand Canyon University
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ECN 601 Topic 8 DQ 1 plus DQ 2 Grand Canyon
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Topic 8DQ1 
Mar23-25,2023 
 
GotoTheEconomistwebsiteandsearchfortheBigMacIndexforarecenttimeperiod.ComparethePurchasingPoweroftheUnitedStateswithanothercountry.Trytochooseacountrywithwhichyouarenotveryfamiliar.Whatdoesthisparitysayaboutthepotentialstandardoflivinginthecountryyouchose?Whatdoesitsayaboutthepotentialwagelevel? 
 
Topic 8DQ2 
Mar23-27,2023 
 
Overseveraldecades,someindustries,suchastextileandclothing,whichwereonceasignificantpartoftheU.S.economy,haveshiftedmanufacturingabroad.Usingt...
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ECN 601 Topic 8 DQ 1 Grand Canyon
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Topic 8DQ1 
Mar23-25,2023 
 
GotoTheEconomistwebsiteandsearchfortheBigMacIndexforarecenttimeperiod.ComparethePurchasingPoweroftheUnitedStateswithanothercountry.Trytochooseacountrywithwhichyouarenotveryfamiliar.Whatdoesthisparitysayaboutthepotentialstandardoflivinginthecountryyouchose?Whatdoesitsayaboutthepotentialwagelevel?
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ECN 601 Topic 8 DQ 2 International Economics Grand Canyon
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Topic 8DQ2 
Mar23-27,2023 
 
Overseveraldecades,someindustries,suchastextileandclothing,whichwereonceasignificantpartoftheU.S.economy,haveshiftedmanufacturingabroad.Usingtheideaofopportunitycost,provideanexplanationofthereasoningbehindthisshift.Howhasthisshiftaffectedeconomicwell-beinglocally?Howdothegainscomparetothelosses?
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ECN 601 Topic 8 Exam 2 - Test Prep Grand Canyon
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1. Acquiring a firm that sells a substitute good would make the demand curve for your original product ~ 
2. The general rule to increase profits when two close substitute brands are jointly owned is ~ 
3. After acquiring closely substitutable product brands, a firm can successfully raise prices on both of the brands without losing much of its total sales because ~ 
4. Which of the following is an example of price discrimination? 
5. The practice of buying a firm’s good in one market at a low ...
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ECN 601 Topic 8 Exam 2 (40 MCQs) Grand Canyon
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1.	Question:Forjointlyownedsubstituteproducts,cannibalizationleads toMR	MC. 
2.	Question:Use the table provided to answer the following question. If the groups are of equal size andthe firm can onlysetoneprice,howshould the firmpricethehigh-end wok? 
3.	Question:TheoptimalstrategyinaVickeryauctionisto: 
4.	Question:Whichofthefollowingisascreenagainstadverseselection? 
5.	Question:The general rule to increase profits when two close complementary brands are jointly ownedis: 
6.	Question:Indirectpr...
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ECN 601 Topic 8 Exam 2 (40 Multiple Choice) Grand Canyon
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1.	Question:Indirectpricediscrimination differsfromdirectprice discriminationbecause: 
2.	Question:What is it called when each additional worker hired contributessuccessively smalleramountsofoutput? 
3.	Question:Jim has a better chance of having his offer accepted, since the seller doesnothaveanyoutsideoffers. 
4.	Question:For a production function with a diminishing, but positive, marginal productoflabor: 
5.	Question:Nashequilibriumis: 
6.	Question:Moralhazardimpliesthat: 
7.	An HVAC company i...
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ECN 601 Topic 8 Exam 2 Formula Sheet Grand Canyon
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ECN 601 Topic 8 Exam 2 Formula Sheet Grand Canyon
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ECN 601 Topic 8 Exam 2 Grand Canyon
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1.	Question:TheoptimalstrategyinaVickeryauctionisto: 
2.	Question:Tomwantstoavoidanyaccidentsontheworkfloorofhisfactory.Ifanaccidentdoesoccur,itwouldcosthim $500,000 in damages. Installing safety equipment would decrease the probability of an accidentoccurring from 20% to 10%. However, the equipment costs $20,000 to install. What is his expected lossafterinstalling thesafetyequipment? 
3.	Question:Whichofthefollowingisaviolationofantitrustlaws? 
4.	Question:Whatisitcalledwheneachadditionalworker...
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ECN 601 Topic 8 Problems Chapter 11 Grand Canyon
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G11-2: Exchange Rate Effects on your Firm 
The equilibrium often entails a supply and a demand factor. Despite that a country’s currency value may fluctuate over a period, it must be noted the supply and demand for oil does not change. The petroleum industry for example is known for domestic oil refinery. The production of petroleum products within the US or globally is done with the general idea for profit for its shareholders and investors. If it can be acknowledged that a change in interest...
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ECN 601 Topic 5 DQ 1 plus DQ 2 Game Theory Grand Canyon
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Topic5DQ1 
Mar2-4, 2023 
 
The order of play tends to matter in sequential games where rivals must predict best reply-responses and counter-responses in order to achieve a desired payoff. Discuss an instance inwhich you or your firm used game theory and explain why the relationship between the playerswas a strategic one. Did the use of a credible threat or commitment affect the outcome? Werethere any first-mover offast-secondstrategiesused? 
 
 
Topic5DQ2 
Mar2-6, 2023 
 
In business, sports, po...
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