Wgu Egt1 Task Essays and Term Papers

  • WGU EGT1 Task 1

    Task In this given situation a company exists in a monopolistic competition where a company sells widgets. As more widget are sold the company must offer discounts on the product in order to sell more units. The table below includes the Total Revenue and Total Cost information needed to perform...

      746 Words | 2 Pages  

  • WGU EGT1 Task 1

     EGT1TASK 1 Western Governors University EGT1 Economics and Global Business Applications Element A1 & A2 A1. Total revenue (TR) to total cost (TC) is cost, which is calculated using total revenue minus the total cost, (TR-TC). As each unit is produced, the total...

      897 Words | 9 Pages  

  • Wgu Egt1 Task 3

    To: Senior VP of Operations From: Jessica Torres, director of Human Resources Date: May 20, 2012 Subject: Federal Act Violations for 3 cases Situation A: The Family and Medical Leave act of 1993 states, that any eligible employee can take twelve weeks of unpaid time off for a family emergency...

      550 Words | 2 Pages  

  • Egt1 Task 1

    EGT1 Task: 309.1.1.05, 06 In business there are certain factors that have to be evaluated before a company can see if a profit has been made. To even get to the point where a profit will be made there has to be a product that is sold whether it is a tangible or an intangible product. There has...

      1130 Words | 4 Pages  

  • EGT1 Task 309

    Elasticity: The real stretch play. We have all heard the phrase, “Stretch your dollar”, but have you ever stopped to consider what all goes on behind the scenes in order to make this stretch occur? What rules of economics and finance play into making your hard-earned dollar stretch to its maximum...

      2915 Words | 5 Pages  

  • Egt1 Task 1

    Marginal Analysis Economics & Global Business Applications, EGT 1, Task 1 A. Explanation of profit maximization The total revenue, TR, is the overall amount of all sources of a business’s income. It consists of total sales or profit, over a period of time. The TR can be calculated by taking...

      694 Words | 2 Pages  

  • EGT1 Task 3

     A. Definition of Industrial (Economic) Regulation. Economic industrial regulation is a more traditional type of regulation in which the government is concerned with specific industries and services it provides and the prices being charged to its citizens. This is an older regulation concerned...

      4201 Words | 17 Pages  

  • Egt1 Task 2

    Supply and Demand Elasticity of Demand Elasticity of demand is a variation in price depending on the demand of a good or service. Items like vehicles, appliances, jewelry, and electronics will sell less at full price than they do when there is a drop in price. When producers and retailers drop the...

      1774 Words | 5 Pages  

  • EGT1 Task 2

    EGT1 Task 2 A) Elasticity of Demand pertains to the relationship of price and need of a product. If a price increases will the demand increase or decrease? When a demand is elastic, it means even a small change in price can cause a large change in the quantities consumers purchase. (McConnell, pg. 77)...

      1144 Words | 2 Pages  

  • EGT1 Task 4

     A. Country Identification: The company has brought to our attention that it desires to expand into the Eastern Asian market where it is believed that the opportunity will be best and certainly more than double its profits by this venture. The Country of choice will be China; location is the...

      2734 Words | 11 Pages  

  • Egt1 Task 3

    Anthony J. La Salata BS, Business Management 3/1/2012 Student I.D. #000254042 My Mentor: Nicole Sandburg Cell# 1(360)941-4062 Arlington, WA –PST A. Summarize the four major pieces of legislation collectively known as the Antitrust Laws. United States antitrust law is a collection of federal...

      1060 Words | 4 Pages  

  • Egt1 Task 1

    EGT1 Task 1 In this paper I am going to define a few common economic terms and explain their relationships to other economic terms. I will also explain how profit maximizing firms determine their optimal level of output and how a profit maximizing firm will react to different levels of marginal...

      406 Words | 2 Pages  

  • Egt1 Task 3

    A. Concern in the late 1800s with society’s economic well-being, public pressure and the market control by oligopolist and monopolist also known as trusts the government enacted antitrust legislation. The Sherman Act of 1890 was the first legislation aimed at declaring restraint of trade and monopolization...

      729 Words | 3 Pages  

  • EGT1 - Task 2

    EGT1 – Economics and Global Business Applications Task 2 Elasticity of demand is a measure of responsiveness to a price change of a good or service. When demand is elastic, the percentage of a price change of a product will result in a larger percentage of quantity demanded (McConnell, p 77). ...

      979 Words | 3 Pages  

  • EGT1 Task 1

     Marginal Analysis EGT1 Western Governors University Marginal Analysis Profit maximization can be explained by use of total revenue and total cost concept. Firms will tend to increase on production when revenue increases more than the increase in cost. Thus, for a profit maximizing...

      531 Words | 2 Pages  

  • EGT1: Task 1

    Marginal Revenue: Marginal Revenue can be termed as the change in the total revenue from an additional unit that is sold by a firm. Example, the total revenue when 10 units are sold is $50, and total revenue when 11 units are sold is $55. Marginal Revenue in this case will be (55-50)/(11-10) = $5...

      514 Words | 2 Pages  

  • EGT1 Task 309.1.2.08,09

    EGT1 Task 309.1.2.08,09 Elasticity of demand refers to a change in the percent demanded relative to the percent change in price. It measures the willingness of consumers to continue purchasing a product when a change in price occurs. If a seller’s total revenue increases, after a price decrease...

      726 Words | 2 Pages  

  • EGT1 Task 2

    EGT1 Task 2: Elasticity of demand, also known as price elasticity of demand is defined as: measuring the responsiveness of demand to changes in price for a particular good. If the price elasticity of demand is equal to 0, demand is perfectly inelastic. Values between zero and one indicate that demand...

      852 Words | 3 Pages  

  • EGT1 Task 3

    Antitrust Laws In order to lessen the temptation of dishonest business practices, the government enacted four antitrust legislations. Starting with the Sherman Antitrust Act of 1890 which sought to put a stop to monopolistic and collusive behavior, both of which at the time were considered a felony...

      696 Words | 3 Pages  

  • EGT1 Task 3

    A. There are 4 main pieces of legislation that are collectively known as the Anti-trust laws. They are the Sherman Antitrust Act, The Federal Trade commission Act, The Clayton Antitrust Act and the Celler-Kefauver Act. The Sherman Antitrust Act is legislation enacted to protect Americans against...

      838 Words | 3 Pages