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ECO 365 Week 2 Discussion Question 1 Answer

ECO 365 Week 2 Discussion Question 1 Answer

ECO 365 Week 2 Discussion Question 1 Answer

Week 2 DQ 1

a) Would you ever turn down a job that paid more than the job you currently held? Why or why not? How does this relate to the concepts in Chapter 12?
b) Firms are always trying to achieve greater efficiency because if they can reduce costs, they can increase profits. Suppose one firm is shutting down an assembly plant while another firm is renegotiating work rules and changing the management structure without reducing inputs. What type of efficiency (technical efficiency or economic efficiency) is each firm pursuing?
c) What is the relationship between average and marginal productivity?
d) What are the impacts of innovation and technology on the cost of production?
e) What is the economic cost to the nation of discrimination? What types of policies do you think could help increase the benefits to those that do not discriminate, or increase the costs of those who do?

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ECO 365 Week 2 Discussion Question 1

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