I will Provide 5 Discussion Post Instructions, EACH Discussion (5 total) having to be ~200 words. Respond to the Question Utilizing the guidlines attatched in the file. The instructions for each discussion will be provided in the text below.
DISCUSSION 1:: Effectiveness of Taxes in Reducing Tobacco Consumption
This module’s discussion focuses on you educating yourself on how public policy can impact personal consumption. First, do some searching on the internet for information/data to determine if taxing tobacco reduces cigarette consumption. You will most likely see some very interesting findings. Is demand for cigarettes elastic or inelastic? Why? Is the price elasticity of demand coefficient the same for all age levels? Any difference between citizens of different countries? Are people in the USA more responsive to taxes and thereby reduce consumption more than other countries? Are people with lower incomes more responsive to the tax and resulting price increase compared to wealthier consumers? Report your findings.
DISCUSSION 2: The Importance of Scale to the Firm:
This module’s discussion focuses on the concept of “economies of scale.” What does it mean when a manager of a microbrewery says “we are hoping to see profits increase as we scale our production.” The concept of “scale” is a common word you may hear being utilized by entrepreneurs and corporate executives, from really small firms to the largest corporations.
Discussion Question: What are economies of scale? What factors contribute to achieving economies of scale? Give two examples of companies that have achieved economies of scale. Also, can a firm become too large and experience diseconomies of scale? What factors could contribute to diseconomies of scale?
Remember to use the appropriate economic concepts and terminology that are applicable to your answer.
DISCUSSION 3: How Monopolies Form: Barriers to Entry
This module’s discussion focuses on ways in which monopolies form. The first section of chapter 9 describes how monopolies can either be natural monopolies or legal monopolies. After reading section 1, address the following discussion question.
Discussion Question: Identify a company that is a natural monopoly or a legal monopoly. Describe what entry barrier allowed this firm to gain monopoly status. What does the firm produce? Do you expect the firm to indefinitely have monopoly status or will things change to where the firm may lose monopoly status?
Remember to use the appropriate economic concepts and terminology that are applicable to your answer.
DISCUSSION 4: How Does Digital Marketing Impact Monopolistic Competition?
This module’s discussion focuses on the impact digital marketing/advertising has on the demand for a firm’s products.
Years ago, the platforms used to advertise products in the media was through print, TV and radio. As the internet took root in the early 1990s, more firms took to the Web to promote products and services. Today, with the exponential growth of online shopping and the use of social media platforms, businesses of all shapes and sizes utilize various media and platforms to attempt to attract customers.
Discussion Question: Define digital marketing and discuss what role it is playing in helping businesses increase the demand for its product, or in making the demand curve more inelastic. Give examples of how successful firms have used digital marketing to enhance brand awareness and brand loyalty. What tools are utilized in the digital space to measure brand awareness and brand loyalty? Be sure to do some digging around on the internet to find some reliable sources of information.
DISCUSSION 5: Do Market Oriented Enviornmental Tools Have an Impact on Firm Decisions?
This module’s discussion focuses on types of market-oriented environment tools. This is the focus of 12.3 in your textbook.
Discussion Question: Do Market-Oriented Environmental Tools Have an Impact on Firm Decisions?
Do some research to see what type of market-oriented environmental tools are currently being utilized for either federal, state, or local governments. Then, explain the tool being utilized and if it has had an impact on a firm’s behavior.
