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Game Theory and Strategic Behavior. Suppose that GE is trying to prevent Maytag from entering the market for high efficiency clothes dryers. Even though high efficiency dryers are more costly to produce, they are also more profitable as they command sufficiently higher prices from consumers. The following payoffs table shows the annual profits for GE […]

Good Will in Price Bidding. Sometimes, a bidder on a work contract may bid lower than what would maximize his/her profit from the contract and the reason for that is to create goodwill (to increase expected future business from the buyer). How would you value the goodwill that is obtained in this way?   New […]

Strategic Behavior Oligopolies. An interesting example of strategic behavior comes from a 1997 article about Microsoft’s investment in Apple (New Straits Times, 1997). The article is included in the Required Readings list. Facing tough anti-trust scrutiny from government agencies, Microsoft provided financial support to Apple in order to ensure Apple’s survival and, therefore, to ensure […]

Relevant Costs. Two partners own together a small landscaping business in North Carolina, called Summer Lawn Care. They have been specializing in summer grass seeding, installation, and maintenance. Recently, the partners acquired special technology and know-how for winter grass installations and maintenance. They also added a tree cutting service as recent storms in the area […]

Marginal Rate of Substitution. What is the marginal rate of substitution (MRS) and why does it diminish as the consumer substitutes one product for another? Use examples to illustrate   Demand Elasticity. Please, read the article Hainer, R. (2010), provided in the required readings section for this week. The tobacco industry is a prime example […]

Firm Objectives. Why do some business firms pursue a triple-bottom-line outcome while others focus only on profit maximization? Please, use a real company example to illustrate your points   Decision Making Under Uncertainty. To save on gasoline expenses, Edith and Mathew agreed to carpool together for traveling to and from work. Edith preferred to travel […]

  Throughout this course, you have been exposed to an overview of the discipline of psychology, including expectations for the psychology major, career options for students completing a bachelor’s degree in psychology, and career options for students who pursue a graduate degree. Review the information on career paths for psychologists and counselors from the readings […]

  According to studies of graduates of bachelor-degree programs in psychology, entry-level positions tend to pay relatively little and may be relatively unsatisfying. Although the positions, pay, and reported job satisfaction of psychology majors tend to significantly improve many years after graduation, those who enter the workforce immediately upon graduation risk at least a few […]

  In M1: Assignment 3, you identified a professional in the field of psychology to interview. You selected an interviewee employed in a psychology-related job which interests you and developed a list of ten questions. For this assignment, you will conduct an interview with your chosen psychology professional using those ten questions.The interview must last […]

  In M1: Assignment 2, you explored your career interests and identified three careers that seemed best suited for you. In this assignment, you will conduct a mock job search and report your findings using the Job Search Data Bank form. Mock Job Search: Select one of the three careers you identified and discussed in […]