Purdue Discussion Post 6-8

Unit 6 Discussion Board 150 words 

Criticallyanalyze the pros and cons of putting a price ceiling on prescription medicine.Make sure to use concepts from the chapter in this unit such as governmentintervention, inefficiencies, price elasticity, etc. in your answer.

1. In the first case, assume the medication is for a life threatening illness for which your child has been diagnosed.
2. In a second case, assume the medication is for an improved quality of life issue, such as achieving a healthy weight.
3. What are the impacts that the pharmaceutical company that makes the medications in question will experience? How will that affect the pharmaceutical companys production decisions? What about its decisions to conduct further research into new drugs?

 

 

 

Unit 7 Discussion Board 150 words 

Discussion Topic: Increase in Fixed Costs

1. Suppose a business experiences a sudden increase in its fixed costs. For example, suppose property taxes increase dramatically. What impact, if any, will this have on the following:
   a. the firm’s AFC (average fixed cost);
   b. the firms AVC (average variable cost);
   c. the firms ATC (average total cost); and,
   d. the firms MC (marginal cost)?
2. What changes, if any, is there likely to be in these same cost CURVES?

 

 

Unit 8 Discussion Board 150 words 

Discussion Topic: Your Own Business

Assumethat you are going to start a small business of your own.
Describe the business and discuss the following:

1. What costs you would incur;
2. What competition you might experience;
3. How you would determine the price you would sell your product; and,
4. How much product would you produce?

 

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