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Devry ECON 312 Week 3 Discussion Latest
PRICES; CONCEPTS OF COST
Before posting, review the Discussion Activity Overview under Introduction & Resources.
Multimedia post (up to 10 points) – Prices under Different Market Structures: Create a short 1-2 minute slide presentation with a voice narration or a video using any technology you are comfortable with to discuss market structures and their impact on price-setting.
How are prices determined under perfect competition? Think about a firm that you have done business with recently. To what industry does this firm belong? For example, McDonald’s is a firm in the fast food industry. What market structure would this industry fall under? What are the names of other firms in this industry? Is it monopolistic competition, oligopoly, monopoly, or perfect competition? How does market structure affect the firm’s ability to set the price for its products?
Concepts of Cost (up to 5 points) – What are the differences between economic and accounting concepts of cost? How would you manage the costs associated with a value-creation activity? How do costs of operations relate to the strategy of the organization?
MyEconLab (MEL) Activity Post (up to 5 points) – Make a high-quality response to a classmate’s MEL Activity post or complete your choice of one of the available Week 3: MyEconLab Activities for the week (recommended), and post a short summary along with one or more ideas on how to apply the principles explained in the selected Activity. Include the word “Activity” along with the topic of the MEL Activity in the first sentence.
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Devry ECON 312 Week 3 Discussion Latest
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