Bethel College Managerial Economics Questions

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The discussion requires a minimum of 300 words, 3 scholarly sources, including the textbook. Make sure that you use APA style with your references. Under no circumstances use any direct quotes. Any directly quoted or copied material will result in a zero for the assignment. Let’s be sure to write it in own work 100% and give appropriately when using someone’s else work.

Reference for textbook attached:

Thomas, C. R., & Maurice, S. C. (2010). Managerial economics: Foundations of business analysis and strategy (10th ed.). New York: McGraw-Hill/Irwin.

U.S. Supreme Court Justice Stephen Breyer’s book Breaking the Vicious Circle: Toward Effective Risk Regulation examines government’s role in controlling and managing the health risks society faces from exposure to environmental pollution. One major problem examined in the book is the cleanup of hazardous waste sites. Justice Breyer was extremely critical of policymakers who wish to see waste sites 100 percent clean.

Explain, using the theory of optimization and a graph, the circumstances under which a waste site could be made “too clean.” You may either describe your graph in detail or post a photo of your graph for the class to see.

Good answers are dispassionate and employ economic analysis.

1,500 word count and there is a total of 8 questions each (not including in-text citation and references as the word count), a minimum of 4 scholarly sources are required in APA format. For the 4 scholarly sources, one from the textbook that’s posted below and the other two from an outside source . Let’s be sure to write it in own work 100% and give appropriately when using someone’s else work. Under no circumstances use any direct quotes. Any directly quoted or copied material will result in a zero for the assignment.

Reference for textbook attached:

Thomas, C. R., & Maurice, S. C. (2010). Managerial economics: Foundations of business analysis and strategy (10th ed.). New York: McGraw-Hill/Irwin.

I think you will find Unit 8 to be one of the more straightforward units we have had in the course. Everything that you have learned in the previous units has led up to being able to quickly and easily do a marginal analysis. Had we covered this unit earlier, you would have found it much more difficult.

On the Complete, please be sure to explain in detail how you arrived at each answer. Just filling in the blanks is not sufficient, and you will still need to do some research to meet your word count requirement. Feel free to research examples of marginal analyses in any area of study that you find interesting.

Use the graph below to answer the following questions:

a) At 200 units of the activity, marginal benefit is $__________ and marginal cost is $__________.

b) Adding the 200th unit of the activity causes net benefit to __________ (increase, decrease) by $__________.

c) At 700 units of the activity, marginal benefit is $__________ and marginal cost is $__________.

d) Subtracting the 700th unit of the activity causes net benefit to __________ (increase, decrease) by $__________.

e) The optimal level of the activity is __________units. At the optimal level of the activity, marginal benefit is $__________ and marginal cost is $__________.

Give an example from your own business-related experience of a situation in which a marginal analysis could be conducted. Explain how you would find and recommend the optimal level of activity for the situation.

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