Economics Homework Help

After you’ve submitted an article as described in Week 6 Current Events, create a post that explains the topic of your article as noted below based on your article type.

1. A firm or industry or investment that has different long run and short run costs: State the firm, industry or investment. Name the cost that is different in the short run and long run and identify the type of cost (either variable or fixed). Is the cost greater or less in the long run? Briefly describe why.
2. A sunk cost: Briefly describe the cost. Why is this cost a sunk cost? What does that mean about future decisions related to the cost?
3. Outsourcing: State what is being outsourced and to who. Briefly describe the short run and long run effects to the supplier and the effected labor markets (NOTE: you should not describe the effects on society as a whole or individual countries).

MAKE SURE THAT YOU ARE RESPONDING SPECIFICALLY TO THE PROMPT AS DETAILED ABOVE.

This assignment is graded. You will be graded on how well the submission fits the request as described in the module overview instructions. Points will be awarded as follows:

Criteria	Possible points awarded
Pertinent to topic in current events submission instructions	1 pt.
Reputable source	1 pt.
Description accurately highlights economic concepts	1 pt.

I will not include your grade in this discussion board- instead please go to the Grades section of Canvas.

Feel free to like and comment on your colleagues’ post, and/or continue a discussion on a topic you may have found interesting in either the Student Discussion Board or Class DiscussiUpload an internet article from a reputable source that discusses or analyzes one of the following:

1. A firm or industry or investment that has different long run and short run costs
2. A sunk cost
3. Outsourcing (remember outsourcing does not necessarily have to refer to work going to another country- it is the situation where work is shifted anywhere outside of the company. So using FedEx for copying is an example of outsourcing your copying, because you don’t do it yourself)

NOTE: This does not need to be mentioned in the title or even mentioned in the article at all. Example: The article is about whether movie production companies should lobby to get an Oscar award. The article will not mention anywhere the terms “sunk cost”. But as you read the article, you understand that lobbying for an Oscar only happens after the movie is completed. So the cost of the movie is a sunk cost, because the money is already spent. The article is still extremely relevant. Any article can be read using an economic mindset- not just articles written by economists.

Don’t just post a link- you must upload either a screenshot, pdf or word version (you can copy and paste from the internet).

This assignment will be marked as complete when you submit the article.

Once you’ve posted your article, post a comment in the Week 6 Current Events Discussion Board. The comments should follow the below based on what type of article you submitted:

1. A firm or industry or investment that has different long run and short run costs: State the firm, industry or investment. Name the cost that is different in the short run and long run and identify the type of cost (either variable or fixed). Is the cost greater or less in the long run? Briefly describe why.
2. A sunk cost: Briefly describe the cost. Why is this cost a sunk cost? What does that mean about future decisions related to the cost?
3. Outsourcing: State what is being outsourced and to who. Briefly describe the short run and long run effects to the supplier and the effected labor markets (NOTE: you should not describe the effects on society as a whole or individual countries).

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