Select a relevant microeconomics industry of your choice in the region in which you reside. Differentiate between the firm’s implicit and explicit cost and discuss the firm’s variable and fixed costs.
For your chosen industry please consider whether your firm is economically viable or not. Is your firm profitable? Do they have an optimistic or uncertain outlook for the near future?
Locate a recent article or event (published within the last year) that highlights your relevant microeconomics topic. Use the Hunt Library, newspapers, new stations, or other credible sources to discover how your topic aligns with microeconomics.
THE FOLLOWING WILL BE COMPLETED:
Consider the following for our in-class discussion:
- State the article or event you selected.
- Identify the microeconomic concept(s).
- Describe your findings.
- Analyze the relevance to real-life applications.
In responding to your peers state:
- Whether you agree or disagree with the findings and why
- A probing question that facilitates further discussion of the topic
Title: Economics
ISBN: 978-1337617383 Hardcover
ISBN2: 978-1337670647 eBook
Authors: Arnold, R.
Publisher: Cengage Learning
Publication Date: 2019
Edition: 13th
Format: Textbook
Read chapter from your textbook:
Chapter 21 – Production and Costs
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