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Module 5 - Written Assignment

Module 5 - Written Assignment

Q In this summit session, you will be exposed to microeconomics concepts as they pertain to firms in our macroeconomy. Choose a domestic firm and identify how the product and factor market affect the inter-workings of your chosen firm. Furthermore, you will be asked to identify how many laborers you would hire for any given shift. You will be able to delve deeper into the daily operations of your chosen firm. Locate a recent article or event (published within the last year) that highlights your relevant microeconomics topic. Use the Hunt Library, Links to an external site.newspapers, new stations, or other credible sources to discuss how your topic aligns with microeconomics. Include the following in your discussion: • State the article or event you selected. • Explain whether your firm is operating within a concentrated market. • Describe which law in the United States prohibits price discrimination. • Explain whether your chosen firm engages in price discrimination practices. • Identify the type of market structure that aligns with your chosen firm. • Explain whether your firm is operating within a concentrated market. • State why skilled and unskilled laborers would not earn the same wages. • Describe your firm’s factor and product market. • Identify the number of employees your firm should hire for any given shift. • State whether your chosen firm is operating at an efficient level of production. • Describe your findings. • Analyze the relevance to real-life applications. Summarize your findings using at least 300 words and provide a minimum of one reference. Use current APA formatting to document your sources. Your paper will automatically be evaluated through Turnitin when you submit your assignment in this activity. Save your assignment using a naming convention that includes your first and last name and the activity number (or description). Do not add punctuation or special characters. Note: Investopedia and Wikipedia are not considered credible sources in academia. Please do not include Investopedia or Wikipedia as sources for any assignment in this course.

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The following article is chosen: https://www.wsj.com/amp/articles/google-ceo-sundar-pichai-aims-for-20-productivity-gain-11662565214 It is important to mention that the concentration of Google has increased rapidly over the past five years which is driven mainly by Google’s growth. Because of high concentration in the market, it has become really difficult for the other companies to make an entry into the market. Moreover, companies here are needed to develop their own algorithms for better advancement. In this organisation, the market for the purpose of manufacturing inputs is called as the factor economy. On the other hand, some of the business owners are found to be utilising these inputs for the production of more and more output. Thus, the market for the finished goods and services is referred to as the product market.