ECON 545 Entire Course (Devry)
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DEVRY ECON 545 Week 1 DQ 1 Supply and Demand
DEVRY ECON 545 Week 1 DQ 2 Elasticity and the Minimum Wage
DEVRY ECON 545 Week 2 DQ 1 Marginal Analysis
DEVRY ECON 545 Week 2 DQ 2 Controlling Costs
DEVRY ECON 545 Week 2 Project Part 1
DEVRY ECON 545 Week 3 DQ 1 Mergers Acquisitions
DEVRY ECON 545 Week 3 DQ 2 Anti-Trust Policy and Microsoft
DEVRY ECON 545 Week 3 Quiz Imperfect Competition
DEVRY ECON 545 Week 4 DQ 1 Macroeconomic News
DEVRY ECON 545 Week 4 DQ 2 Healthcare
DEVRY ECON 545 Week 5 DQ 1 Trade Deficits
DEVRY ECON 545 Week 5 DQ 2 Exchange Rates
DEVRY ECON 545 Week 5 Project Part 2
DEVRY ECON 545 Week 6 DQ 1 Fiscal Policy
DEVRY ECON 545 Week 6 DQ 2 Monetary Policy
DEVRY ECON 545 Week 6 Monetary and Fiscal Policy - You Decide
DEVRY ECON 545 Week 6 Quiz
DEVRY ECON 545 Week 7 DQ 1 The Public Sector
DEVRY ECON 545 Week 7 DQ 2 Forecasting
DEVRY ECON 545 Week 8 Final Exam
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ECON 545 Week 8 Final Exam (Devry)
For more course tutorials visit
www.econ545.com
1.
Question :
(TCO A) Suppose you are hired to manage a small manufacturing facility that produces Widgets.
(a.) (15 points) You know from data collected on the Widget Market that market demand and market supply have both increased recently. As manager of the facility, what decisions should you make regarding production levels and pricing for your Widget facility?
Remember that supply and demand are about the market supply and market demand, which is bigger than your own company. You are being given data on supply and demand for the whole market and are being asked what effect that has on you as a small part of that market.
(b.) (15 points) Now, suppose that following the supply and demand changes in (a), a substitute...