Module 9 Discussion Forum
Forum Instructions
In a post below, respond to the following prompt, which assesses the following outcomes:
Course SLO 1: Identify the basic economic principles that serve as the foundation of economic analysis
Course SLO 2: Understand the interaction of supply and demand in determining prices and the role of prices in coordinating economic activity
Course SLO 3:Analyze the economic impact of government regulation, price setting, and taxes on consumers and producers.
Course SLO 7: Analyze the performance of firms under different market structures
Module SLO: 9.2.1 - Explain the perceived demand curve for a perfect competitor and a monopoly;
Module SLO: 9.2.4 – Explain allocative efficiency as it pertains to the efficiency of a monopoly
Then, you must respond to 2 of your classmates' posts. After you post a response, you will be able to see other responses. You are not required to post more than required, but feel free to respond to other posts and engage with your classmates.
Your [first] post is due on [day of week] by [time] CST. Your response to another student is due on
[day of week] by [time] CST. [Adjust for number of posts required.]
Your response should be at least [length requirement in words, sentences, or paragraphs] long. This includes responses to other students' posts. [Include previous sentence if necessary.] A simple “I agree” or “Yes” or “LOL” will not count. Please think about the questions and your peers' responses and reply thoughtfully and courteously, according to netiquette rules. Use good English grammar, correct punctuation, and complete sentences. While the posts will mostly be judged by their thoughtfulness and completeness, I reserve the right to take off points for grammatical errors, especially if they interfere with the clarity of the post. [Edit as needed.]
Prompt
Unlike the perfect competitor, we see that a monopolist gets to choose a price and quantity. We also see that the monopolist has a tradeoff between price and quantity, that is, the higher a price they charge, the less quantity they will produce, and vice versa. For this discussion, your task is to:
- Describe a practical example that shows why monopolists face this tradeoff
- If you deal with a monopoly in your life, what actions may you take if they raise prices too much? What impact does that have on the monopoly?
- Reply to two of your peers’ posts.
Details:
A forum for
discussion promotes peer-to-peer and student-instructor
interaction. Questions should be thought provoking and encourage detailed analysis of module topics. Include a rubric.
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