Managerial Economics and Capstone Research Methods Questions

Assignment​ ​4:

There​ ​are​ ​two​ ​readings​ ​associated​ ​with​ ​this​ ​assignment.​ ​They​ ​are​ ​under​ ​the​ ​Readings​ ​folder​ ​for​ ​Week 6:​ ​Cloud​ ​Computing​ ​and​ ​Real​ ​Estate.

I.​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​You​ ​were​ ​able​ ​to​ ​purchase​ ​two​ ​tickets​ ​to​ ​an​ ​upcoming​ ​concert​ ​for​ ​$100​ ​apiece​ ​when​ ​the concert​ ​was​ ​first​ ​announced​ ​three​ ​months​ ​ago.​ ​​ ​Recently,​ ​you​ ​saw​ ​that​ ​StubHub​ ​was​ ​listing​ ​similar seats​ ​for​ ​$225​ ​apiece.​ ​What​ ​does​ ​it​ ​cost​ ​you​ ​to​ ​attend​ ​the​ ​concert?​ ​Explain.

II.​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​Students​ ​doing​ ​poorly​ ​in​ ​courses​ ​often​ ​consider​ ​dropping​ ​the​ ​courses.​ ​Many​ ​universities​ ​will only​ ​offer​ ​a​ ​refund​ ​up​ ​to​ ​a​ ​certain​ ​date.​ ​Should​ ​this​ ​affect​ ​their​ ​drop​ ​decisions?​ ​Explain.

III.​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​Based​ ​upon​ ​the​ ​required​ ​reading,​ ​“The​ ​Era​ ​of​ ​Cloud​ ​Computing,”​ ​answer​ ​the​ ​following questions.

1. “For​ ​the​ ​half-century​ ​that​ ​computers​ ​have​ ​been​ ​part​ ​of​ ​the​ ​workplace,​ ​companies​ ​have​ ​bought their​ ​own​ ​machines​ ​for​ ​corporate​ ​data​ ​centers.”​ ​What​ ​costs​ ​must​ ​companies​ ​incur​ ​when​ ​setting​ ​up their​ ​own​ ​corporate​ ​data​ ​centers?

2. Why​ ​has​ ​Amazon​ ​Web​ ​Services​ ​(AWS)​ ​been​ ​able​ ​to​ ​cut​ ​the​ ​price​ ​of​ ​data​ ​storage​ ​so aggressively?​ ​(Think​ ​about​ ​what​ ​the​ ​long​ ​run​ ​average​ ​cost​ ​curve​ ​for​ ​data​ ​storage​ ​might​ ​look​ ​like.)

3. Mark​ ​DePristo​ ​(of​ ​SynapDx)​ ​says​ ​he​ ​gets​ ​computing​ ​services​ ​for​ ​$25,000​ ​that​ ​would​ ​cost​ ​him $1,000,000​ ​to​ ​provide​ ​for​ ​himself.​ ​Why​ ​would​ ​it​ ​be​ ​so​ ​much​ ​cheaper​ ​to​ ​buy​ ​the​ ​services?

IV.​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​Based​ ​upon​ ​the​ ​required​ ​reading,​ ​“A​ ​Reality​ ​Check​ ​for​ ​Home​ ​Sellers,”​ ​answer​ ​the​ ​following questions.

1. What​ ​error​ ​in​ ​decision-making​ ​are​ ​homeowners​ ​making?

2. If​ ​you​ ​were​ ​a​ ​real​ ​estate​ ​agent​ ​representing​ ​a​ ​seller,​ ​what​ ​would​ ​you​ ​advise?

3. How​ ​would​ ​your​ ​advice​ ​change​ ​if​ ​you​ ​represented​ ​a​ ​buyer?

Assignment​ ​5​ ​:

There​ ​is​ ​one​ ​reading​ ​that​ ​goes​ ​with​ ​this​ ​assignment.​ ​Please​ ​find​ ​that​ ​piece​ ​in​ ​Week​ ​7​ ​under​ ​Readings

folder.​ ​I​ ​am​ ​also​ ​attaching​ ​it​ ​here​ ​in​ ​case​ ​you​ ​cannot​ ​find​ ​it​ ​easily.

I.​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​Relative​ ​to​ ​managers​ ​in​ ​more​ ​monopolistic​ ​industries,​ ​are​ ​managers​ ​in​ ​competitive

industries​ ​more​ ​likely​ ​to​ ​spend​ ​their​ ​time​ ​on​ ​reducing​ ​costs​ ​or​ ​on​ ​pricing​ ​strategies?​ ​Explain.

II.​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​Describe​ ​the​ ​differences​ ​between​ ​the​ ​way​ ​a​ ​“society”​ ​(i.e.​ ​government​ ​and/or​ ​consumers)

and​ ​a​ ​businessperson​ ​might​ ​view​ ​a​ ​monopolist.

III.​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​If​ ​demand​ ​for​ ​Nike​ ​running​ ​shoes​ ​is​ ​inelastic,​ ​should​ ​Nike​ ​raise​ ​or​ ​lower​ ​price?​ ​​ ​Explain.

IV.​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​Based​ ​upon​ ​the​ ​required​ ​reading,​ ​“The​ ​Cost​ ​of​ ​Gas:​ ​How​ ​Two​ ​Stations​ ​Set​ ​Their​ ​Prices”

(​USA​ ​Today​,​ ​May​ ​23,​ ​2008),​ ​answer​ ​the​ ​following​ ​questions.

1)​ ​Suppose​ ​Steve​ ​Kehler​ ​calls​ ​his​ ​gasoline​ ​supplier​ ​to​ ​order​ ​a​ ​new​ ​shipment​ ​and​ ​discovers​ ​the

wholesale​ ​price​ ​has​ ​dropped​ ​by​ ​three​ ​cents.​ ​Should​ ​Kehler​ ​adjust​ ​the​ ​price​ ​he​ ​charges​ ​to​ ​his

customers?

2)​ ​Suppose​ ​a​ ​neighboring​ ​station​ ​cuts​ ​its​ ​price.​ ​How​ ​will​ ​this​ ​affect​ ​Kehler’s​ ​demand?

3)​ ​How​ ​should​ ​Kehler​ ​adjust​ ​his​ ​price​ ​as​ ​a​ ​result​ ​of​ ​the​ ​neighbor’s​ ​price​ ​cut?

I.​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​Look​ ​at​ ​the​ ​websites​ ​on​ ​ski​ ​ticket​ ​pricing​ ​(​​ ​​http://www.snowbird.com/​​ ​and

http://sportsden.com/discount-ski-lift-tickets/​).​ ​​ ​Answer​ ​the​ ​following​ ​questions.

1)​ ​How​ ​much​ ​less​ ​do​ ​seniors​ ​pay​ ​for​ ​a​ ​one-day​ ​pass​ ​compared​ ​to​ ​other​ ​adults?​ ​(Do​ ​this​ ​comparison

assuming​ ​both​ ​buy​ ​on​ ​the​ ​mountain.)​ ​Why?

2)​ ​Snowbird​ ​lists​ ​a​ ​lot​ ​of​ ​prices​ ​on​ ​its​ ​website,​ ​but​ ​doesn’t​ ​list​ ​the​ ​price​ ​shown​ ​on​ ​the​ ​Sports​ ​Den​ ​site.

Why​ ​might​ ​Snowbird​ ​offer​ ​such​ ​a​ ​lower​ ​price​ ​through​ ​Sports​ ​Den?