ECN 601 GCU

ECN 601 Grand Canyon Entire Course (January 2016)



ECN601



ECN 601 Grand Canyon Week 1 Discussion 1 (January 2016)

The price of gasoline goes up and down quickly, yet consumer demand for gasoline stays relatively steady. Does this mean the demand for gasoline is inelastic, or is something else at work? Explain.



ECN 601 Grand Canyon Week 1 Discussion 2 (January 2016)

Of the factors listed in the textbook that are related to demand, identify 1 or 2 that were instrumental in your selection of a University in which to enroll for an MBA. Do you think your decision criteria are typical or atypical? Explain.



ECN 601 Grand Canyon Week 2 Discussion 1 (January 2016)

Selecting a complete set of independent variables is always an issue when using regression analysis to estimate demand. For example, analysts often use price and advertising to estimate quantity demanded. However, how do they know that these two variables were sufficient? How do we know that we didn’t omit other variables which would have had a significant impact on demand? How do we know that we didn’t include variables that were not needed? Explain how analysts would answer such questions.



ECN 601 Grand Canyon Week 2 Discussion 2 (January 2016)

Suppose you want to use regression analysis to estimate the selling price of single family homes in a given neighborhood. You assemble data on selling price, square footage, number of bedrooms, number of bathrooms, age of the house, and lot size. Which variable(s) are dependent? Which are independent? For each independent variable you listed, indicate whether you would expect the sign of that variable to be positive or negative, and why.



ECN 601 Grand Canyon Week 3 Discussion 1 (January 2016)

Chapter 5 opened with a discussion of the fast food industry. Identify how ECN 601 GCU Complete Class the Law of Diminishing Marginal Returns set in for the production process, and how management responded to this situation.



ECN 601 Grand Canyon Week 3 Discussion 2 (January 2016)

In the case discussion that opens ECN601GCU chapter 6, Steve Jobs indicated that Apple would ECN601GrandCanyon continue to assemble iPhones in China, despite the fact that only a small portion of the cost of an iPhone was labor expense. What was behind Apple’s decision? Do you agree with it?



ECN 601 Grand Canyon Week 4 Discussion 1 (January 2016)

Public utilities are usually identified as monopolies. With whom does Arizona Public Service, the electric utility in metro Phoenix, compete? Are they the only provider in their marketplace?



ECN 601 Grand Canyon Week 4 Discussion 2 (January 2016)

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