Price takers at the mercy of commodity markets. Recall the comparison of MC and MR? What happened when gold prices were high and what will happen to output when they fall? Academic Essay

Price takers at the mercy of commodity markets.  Recall the comparison of MC and MR?  What happened when gold prices were high and what will happen to output when they fall?

 

http://www.bloomberg.com/news/2014-11-05/plunging-gold-price-has-mining-companies-selling-at-loss.html (Links to an external site.)

 

Also, public regulation of utility companies:  Why must the regulators allow rates to rise?

 

http://www.opb.org/news/article/oregon-public-utility-commission-approves-rate-changes-for-natural-gas/ (Links to an external site.)

 

INSTRUCTIONS:

 

  1. DOUBLE SPACED; 1 x PAGE; 4 x PARAGRAPHS

 

  1. Use TWO NEWS articles for your paper IN ADDITION to the TWO references you HAVE to use given by the assignment question. SUMMARIZE in THREE sentences (for EACH article) what the article is about.

 

  1. Use ALL of the following VOCABULARY TERMS in your paper:

 

explicit costsimplicit costseconomic profit
accounting profitproduction functionmarginal product
marginal costmarginal revenueefficient scale
economies of scalediseconomies of scale 
   
   
   

 

  1. BOLD the VOCABULARY TERMS & make them RED FONT in your writing.

 

  1. In ONE sentence, DEFINE the VOCABULARY TERMS; CLEARLY & CONSISELY somewhere in your writing. All this has to be INTEGRATED into the essay.

 

  1. APA citing & formatting

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