Categories
Micro Economics

This assignment’s learning objectives (MLO) are: MLO13.1: List the characteristi

This assignment’s learning objectives (MLO) are:
MLO13.1: List the characteristics of monopolistic competition.
MLO13.3: Explain why monopolistic competition delivers neither productive nor allocative efficiency.
MLO13.4: Describe the characteristics of oligopoly.
MLO13.5: Discuss how game theory relates to oligopoly.
The Costco Craze
Costco is an amazing retail success. Since opening its first store in Seattle in 1983, it has grown to a worldwide giant that has turned retailing on its head. Here’s a brief description of some of the characteristics of Costco (taken from Wikipedia, which may be the Costco of online references…):
Costco focuses on selling products at low prices, often at very high volume. These goods are usually bulk-packaged and marketed primarily to large families and businesses. Furthermore, Costco does not carry multiple brands or varieties where the item is essentially the same except when it has a house brand to sell, typically under the Kirkland Signature label. This results in a high volume of sales from a single vendor, allowing further reductions in price, and reducing marketing costs. If Costco management feels the wholesale price of a product is too high, they will refuse to stock the product. For example, on November 16, 2009, Costco announced that it would stop selling Coca-Cola products because the soft-drink maker refused to lower its wholesale prices. Costco resumed selling Coca-Cola products on December 14, 2009.Costco also saves money by not stocking extra bags or packing materials; to carry out their goods, customers must bring their own bags or use the merchandise shipping boxes from the company’s outside vendors.
Lighting costs are reduced on sunny days, as most Costco locations have several skylights. During the day, electronic light meters measure how much light is coming in the skylights and turn off an appropriate percentage of the interior lights. During a typical sunny day, it is very common for the center section of the warehouse to have no interior lights powered on.
Most products are delivered to the warehouse on shipping pallets and these pallets are used to display products for sale on the warehouse floor. This contrasts with retail stores that break down pallets and stock individual products on shelves. Costco limits its price markup on items to 15%
Costco is known for treating its employees well. (Craig Jelinek , Costco CEO got a lot of publicity after recommending that the nation should raise the minimum wage to $10.10/hr.) It offers them health insurance, good pay, and a chance for advancement. Yet, it still makes more than $10,000 in profit from each employee as compared to $7,400 in profit per worker for WalMart.
https://www.youtube.com/watch?v=cysRawnadPc
This video explores why Costco is so successfu.
answer the following questions (at least 1-2 paragraphs for each question):
How does Costco differ from other retailers?
Why doesn’t Costco advertise?
Why does Costco keep the price of its hot dogs and other fast food so low? How does it do it?
Does it pay to be a Costco member? How would an economist calculate the cost of membership?
Why does Costco charge a membership fee?
Which type of industry structure does Costco fall under? (perfect competition, monopoly, monopolistic competition or oligopoly? Explain.
Read more about Costco below:
https://www.cnbc.com/id/47030246
https://www.cnbc.com/id/47029484
https://www.cnbc.com/id/47175492

Categories
Micro Economics

This assignment’s learning objectives (MLO) are: MLO13.1: List the characteristi

This assignment’s learning objectives (MLO) are:
MLO13.1: List the characteristics of monopolistic competition.
MLO13.3: Explain why monopolistic competition delivers neither productive nor allocative efficiency.
MLO13.4: Describe the characteristics of oligopoly.
MLO13.5: Discuss how game theory relates to oligopoly.
The Costco Craze
Costco is an amazing retail success. Since opening its first store in Seattle in 1983, it has grown to a worldwide giant that has turned retailing on its head. Here’s a brief description of some of the characteristics of Costco (taken from Wikipedia, which may be the Costco of online references…):
Costco focuses on selling products at low prices, often at very high volume. These goods are usually bulk-packaged and marketed primarily to large families and businesses. Furthermore, Costco does not carry multiple brands or varieties where the item is essentially the same except when it has a house brand to sell, typically under the Kirkland Signature label. This results in a high volume of sales from a single vendor, allowing further reductions in price, and reducing marketing costs. If Costco management feels the wholesale price of a product is too high, they will refuse to stock the product. For example, on November 16, 2009, Costco announced that it would stop selling Coca-Cola products because the soft-drink maker refused to lower its wholesale prices. Costco resumed selling Coca-Cola products on December 14, 2009.Costco also saves money by not stocking extra bags or packing materials; to carry out their goods, customers must bring their own bags or use the merchandise shipping boxes from the company’s outside vendors.
Lighting costs are reduced on sunny days, as most Costco locations have several skylights. During the day, electronic light meters measure how much light is coming in the skylights and turn off an appropriate percentage of the interior lights. During a typical sunny day, it is very common for the center section of the warehouse to have no interior lights powered on.
Most products are delivered to the warehouse on shipping pallets and these pallets are used to display products for sale on the warehouse floor. This contrasts with retail stores that break down pallets and stock individual products on shelves. Costco limits its price markup on items to 15%
Costco is known for treating its employees well. (Craig Jelinek , Costco CEO got a lot of publicity after recommending that the nation should raise the minimum wage to $10.10/hr.) It offers them health insurance, good pay, and a chance for advancement. Yet, it still makes more than $10,000 in profit from each employee as compared to $7,400 in profit per worker for WalMart.
https://www.youtube.com/watch?v=cysRawnadPc
This video explores why Costco is so successfu.
answer the following questions (at least 1-2 paragraphs for each question):
How does Costco differ from other retailers?
Why doesn’t Costco advertise?
Why does Costco keep the price of its hot dogs and other fast food so low? How does it do it?
Does it pay to be a Costco member? How would an economist calculate the cost of membership?
Why does Costco charge a membership fee?
Which type of industry structure does Costco fall under? (perfect competition, monopoly, monopolistic competition or oligopoly? Explain.
Read more about Costco below:
https://www.cnbc.com/id/47030246
https://www.cnbc.com/id/47029484
https://www.cnbc.com/id/47175492

Categories
Micro Economics

Overview In this discussion topic, we will be discussing exchange rates. Instruc

Overview
In this discussion topic, we will be discussing exchange rates.
Instructions
In your post, address the following questions:
What is an exchange rate? What is the exchange rate currently for the US dollar and the euro? for the dollar and the yen? for any other currency of your choice?
Where appropriate, cite examples from your text or other readings.
Rubric says:
Post includes substantial and thoughtful content with appropriate terms and concepts learned in the course utilized. Post addresses fully the topic question.
References cited as needed.

Categories
Micro Economics

Overview In this discussion topic, we will be discussing exchange rates. Instruc

Overview
In this discussion topic, we will be discussing exchange rates.
Instructions
In your post, address the following questions:
What is an exchange rate? What is the exchange rate currently for the US dollar and the euro? for the dollar and the yen? for any other currency of your choice?
Where appropriate, cite examples from your text or other readings.
Rubric says:
Post includes substantial and thoughtful content with appropriate terms and concepts learned in the course utilized. Post addresses fully the topic question.
References cited as needed.

Categories
Micro Economics

Hi, I need help with the same project that we’ve been working on, this is the pr

Hi, I need help with the same project that we’ve been working on, this is the presentation part. I have attached all the past things we worked on for this project to this thread, please let me know if you need anything else.
Here are the instructions for the presentation:
Submit your Kaltura Presentation to this discussion
Organization: Organizational pattern (specific introduction and conclusion, sequenced material within the body, and transitions) is clearly and consistently observable and is skillful and makes the content of the presentation cohesive.
Language: Language choices are imaginative, memorable, and compelling, and enhance the effectiveness of the presentation. Language in presentation is appropriate to audience.
Delivery: Delivery techniques (posture, gesture, eye contact, and vocal expressiveness) make the presentation compelling, and speaker appears polished and confident.
Supporting Material: A variety of types of supporting materials (explanations, examples, illustrations, statistics, analogies, quotations from relevant authorities) make appropriate reference to information or analysis that significantly supports the presentation or establishes the presenter’s credibility/ authority on the topic.
Central Message: Central message is compelling (precisely stated, appropriately repeated, memorable, and strongly supported.)

Categories
Micro Economics

Hi, I need help with the same project that we’ve been working on, this is the pr

Hi, I need help with the same project that we’ve been working on, this is the presentation part. I have attached all the past things we worked on for this project to this thread, please let me know if you need anything else.
Here are the instructions for the presentation:
Submit your Kaltura Presentation to this discussion
Organization: Organizational pattern (specific introduction and conclusion, sequenced material within the body, and transitions) is clearly and consistently observable and is skillful and makes the content of the presentation cohesive.
Language: Language choices are imaginative, memorable, and compelling, and enhance the effectiveness of the presentation. Language in presentation is appropriate to audience.
Delivery: Delivery techniques (posture, gesture, eye contact, and vocal expressiveness) make the presentation compelling, and speaker appears polished and confident.
Supporting Material: A variety of types of supporting materials (explanations, examples, illustrations, statistics, analogies, quotations from relevant authorities) make appropriate reference to information or analysis that significantly supports the presentation or establishes the presenter’s credibility/ authority on the topic.
Central Message: Central message is compelling (precisely stated, appropriately repeated, memorable, and strongly supported.)

Categories
Micro Economics

Hi, I need help with the same project that we’ve been working on, this is the pr

Hi, I need help with the same project that we’ve been working on, this is the presentation part. I have attached all the past things we worked on for this project to this thread, please let me know if you need anything else.
Here are the instructions for the presentation:
Submit your Kaltura Presentation to this discussion
Organization: Organizational pattern (specific introduction and conclusion, sequenced material within the body, and transitions) is clearly and consistently observable and is skillful and makes the content of the presentation cohesive.
Language: Language choices are imaginative, memorable, and compelling, and enhance the effectiveness of the presentation. Language in presentation is appropriate to audience.
Delivery: Delivery techniques (posture, gesture, eye contact, and vocal expressiveness) make the presentation compelling, and speaker appears polished and confident.
Supporting Material: A variety of types of supporting materials (explanations, examples, illustrations, statistics, analogies, quotations from relevant authorities) make appropriate reference to information or analysis that significantly supports the presentation or establishes the presenter’s credibility/ authority on the topic.
Central Message: Central message is compelling (precisely stated, appropriately repeated, memorable, and strongly supported.)

Categories
Micro Economics

Hi, I need help with the same project that we’ve been working on, this is the pr

Hi, I need help with the same project that we’ve been working on, this is the presentation part. I have attached all the past things we worked on for this project to this thread, please let me know if you need anything else.
Here are the instructions for the presentation:
Submit your Kaltura Presentation to this discussion
Organization: Organizational pattern (specific introduction and conclusion, sequenced material within the body, and transitions) is clearly and consistently observable and is skillful and makes the content of the presentation cohesive.
Language: Language choices are imaginative, memorable, and compelling, and enhance the effectiveness of the presentation. Language in presentation is appropriate to audience.
Delivery: Delivery techniques (posture, gesture, eye contact, and vocal expressiveness) make the presentation compelling, and speaker appears polished and confident.
Supporting Material: A variety of types of supporting materials (explanations, examples, illustrations, statistics, analogies, quotations from relevant authorities) make appropriate reference to information or analysis that significantly supports the presentation or establishes the presenter’s credibility/ authority on the topic.
Central Message: Central message is compelling (precisely stated, appropriately repeated, memorable, and strongly supported.)

Categories
Micro Economics

Hello, for the past week, i’ve been having trouble with this homework assignment my professor has given me, and i could really use some help.

Hello, for the past week, I’ve been having trouble with this homework assignment my professor has given me, and I could really use some help. This homework assignment includes a two question news analysis because it is part of this homework. The HW is only 11 questions long. If you’re good at solving math problems, this post is for you.
thank you

Categories
Micro Economics

What is nafta and what are the positive and negative impacts of this trade agreement?

please use your own words and I will copy-paste the direction here also i will upload a screenshot of the direction.
Read the following articles and provide information from these sources and information from the trade learning resources to answer the following questions in 2 pages of written text:
Which nations are the largest trading partners of the US (describe the top 3 and what products are traded)?
Explain the reasons that these nations are the most prominent trading partners.
What is NAFTA and what are the positive and negative impacts of this trade agreement?
US Trade Agreement with the Americas-MexicoLinks to an external site.
Pros and Cons of NAFTALinks to an external site.
The Census Provides Foreign Trade StatsLinks to an external site.
The Impact of NAFTALinks to an external site.
LINKS:
https://ustr.gov/countries-regions/americas/mexicoLinks to an external site.
https://www.thebalance.com/nafta-pros-and-cons-3970481Links to an external site.
https://www.census.gov/foreign-trade/statistics/highlights/top/top1312yr.html
https://www.cfr.org/backgrounder/naftas-economic-impact