Explain the relationship between the price elasticity of demand and total revenue.

Assignment #1:

Directions You can write your research about social problems where the free markets are not allowed to function, which includes the market for a particular illegal good and service, a regulated market, etc. ? Select a social problem where free markets are not allowed to function, and conduct research on the social problem. ? Describe how free market features could be introduced to help alleviate the social problem through free market operations of supply and demand. ? Discuss the risks of introducing market mechanisms of supply and demand in situations where ethical issues are present.

Criteria ? Your Assignment should have a cover sheet with the following information: Title of the paper, Your Name, Course Number and Section Number, and Date ? It must be a minimum of 5 pages long (excluding title page, references, etc.) ? Be sure to include the criteria located in the rubric below within your paper. ? It must be APA formatted with citations to your sources and your last page should list all references used. (Review the APA formats found in the Kaplan Writing Center) ? You must use a variety of three objective, high quality, and current sources. Peer reviewed articles, articles published in journals, textbooks, and library resources found in the KU Online Library are examples of high quality resources. ? Note that Wikipedia, Investopedia, etc. are not considered as reliable resources for this

Assignment #2:

GB540-1: Examine microeconomic tools for purposes of problem solving, analysis, and decisionmaking. Directions ? Explain the relationship between the price elasticity of demand and total revenue. What are the impacts of various forms of elasticities (elastic, inelastic, unit elastic, etc.) on business decisions and strategies to maximize profit? Explain your responses using empirical examples, formulas and graphs. ? Is the price elasticity of demand or supply more elastic over a shorter or a longer period of time? Why? Give examples. ? What are the impacts of government and market imperfections (failures) on the price elasticities of demand and supply? (same criteria apply)

Assignment #3:

For most firms today, success or failure is determined by the ability to find, attract, keep, develop, and tap into the most talented workforce that can be assembled. Directions Write a 5–page report outlining what firms need to do in order to bring in the most talented people (from anywhere) and make the fullest possible use of their abilities. Use the KU Online Library to search for articles related to this topic. (same criteria apply)