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Why do you think that more and more students are going to college when, in fact, the price of a college education is increasing?
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Please write 1 to 2 paragraphs for each section below. Topics must be label by 1-3. For topics 2 and 3 please search for the video via YouTube.com
1. The market for higher education is determining the key questions of what gets produced, how it is produced, how much is produced, and who gets how much.
Start your discussion by responding to these questions:
Why do you think that more and more students are going to college when, in fact, the price of a college education is increasing? (Be sure to use the models of supply and demand to explain your answer.)
In what ways have changes in the job market influenced your assessment of the value of an education? (Do you have more choices or options?)
2.Looking Closely at Cost and Competition”
Watch this video, Revenue, Profits, and Price: Crash Course Economics #24, to help you prepare for this week’s discussion.
Reply to the following prompts by using the company for which you currently work, a business with which you’re familiar, or the dream business you want to start:
Do you think it’s easy for your selected business to enter this same industry?
What are some key fixed, variable, implicit, and/or opportunity costs?
3. Exploring Monopolies and Oligopolies”
Watch this video, Oligopolies and Monopolistic Competition, to help you prepare for this week’s discussion.
Reply to these prompts by using the company for which you currently work, a business with which your familiar, or a dream business you want to start:
With your selected business in mind, determine if it is competitive, monopolistic competitive, an oligopoly, or pure monopoly. Explain how you drew your conclusion about its market structure.
How does the business/firm in this industry determine the price it will charge for the products or services it sells?
Discuss with your peers:
Read one of your peer’s posts and share an insight or question you have about that business and its market structure.
