Joel Gonzalez "Florida Lawsuits Allege Price
Gouging," and "They Clapped: Can Price-Gouging Laws
In the article Florida Lawsuits Allege Price
Gouging, In the Lakeland complaint, the Crossroads
Motor Lodge advertised rooms for less than
1. In a market economy, resources are allocated by:
The decentralized decisions of many firms and households as they interact in markets for goods
1. The study of how households and firms make decisions and how they inte
1. The price consumers are willing to pay for a product minus the price they actually pay is called:
x consumer surplus
1. A (hypothetical) benevolent social planner whose goal
1. After wearing seat belts became mandatory, drivers reacted by driving faster and less
carefully. This is consistent with what Principle of Economics?
trade can make everyone better off
the cost of something is what you give up to get it
1. The blood vessels to the lungs and back are collectively know as the
oxygen exchange system.
1. The pulmonary circuit in a closed system function
Minimum Wage Increase
What do you think will be the market impacts of the proposed increase in the federal minimum
wage to $10 per hour?
An increase of the minimum wage will cause an increase in labor surplus
(unemployment). This means that more will peop
STUDY GUIDE FOR THE MID-TERM EXAM (MICROECONOMICS)
1. What are the ten principles of economics?
1. People face tradeoffs.
2. The cost of something is what you give up to get it.
3. Rational people think at the margin.
4. People respond to incentives
ANGUS CARTWRIGHT, JR.
Real Estate Tax Rate (of gross ren
Writing Skills Scoring Rubric
Writing is clearly
organized around a
central theme. Each
paragraph is clear and
relates to the others in a
Explain the role of functional strategy and valuechain management in achieving superior quality,
efficiency, innovation, and responsiveness t
1. Discuss the increasing diversity of the workforce and of
the organizational environment.
2. Explain the central role that managers play in the
1. Explain why the ability to perceive, interpret,
and respond appropriately to the global
environment is crucial for managerial success
2. Differentiate between the global task and
l Control and
1. Define organizational control and explain how it
increases organizational effectiveness.
2. Describe the four steps in the control process and the
way it operates over time.
1. Explain why conflict arises, and identify
the types and sources of conflict in
2. Describe conflict management strategies
that managers can use to resolve
1. Describe how the need to increase
organizational efficiency and effectiveness has
guided the evolution of management theory
2. Explain the principle of job specialization and
1. Identify the three main steps of the planning
process and the relationship between planning
2. Describe some techniques managers can use
to improve the planning pro
Identify the factors that influence managers choice of
an organizational structure.
Explain how managers group tasks into jobs that are
motivating and satisfying
WACC = Kd(1-t) Xd + Ke Xe
1. Capital Structure (TARGET)
2. Cost of Debt
3. Tax Rate
t = Taxes paid / Taxable income
Interest Rate Notes
- Dividend Growth model or CAPM
Ke = rf + Beta eq. (rm - r
Supply and Demand Guide
To solve the homework problems do the following:
Identify the determinant change
Shift the appropriate curve in the correct direction
Change price appropriately
Move along the other curve (the one that did not shift) in