You are one of a few co-owners of a commercial space of 50,000 sq. ft. in the building in downtown of your selected town in the State of NY (please name it up front in your assignment). You have to come to a common decision like economists what to do with it now. Some of you run own private single-owned businesses and might find this space useful for your own purpose. So far, you have invested $20,000.00 in the renovation of the building. You have to motivate your decision based on the principles of economics.
Instruction: Have in mind current market conditions. Use formal language and correct terminology in your discussion of relevant economic concepts, and apply relevant economic tools for problem solving in this real-life imitating simulation. As there might be differences in opinions please support your proposal in the assignment with supporting data and include also one-page memo presenting the summary of your recommendation, the way of your thinking adopted, and the decision to be agreed upon. Some extra research would be helpful. You can adopt a real or a mock example if want to work with more details.
Outline: Consider and discuss in the assignment, the issues in your decision making process, such as:
⢠assumptions
⢠trade-offs, values and incentives
⢠rational choice
⢠marginal changes
⢠sunk costs
⢠opportunity cost
⢠factors of production
⢠market forces: demand and supply, market equilibrium
⢠possible externalities
⢠economic variables that can influence your choice
⢠business cycle
⢠please apply economic models.
Sample Solution
official, logical and specialized administrations segment and 8.9 percent of the development area. Twenty-four percent of the CEOs in the US were ladies and they earned simply 74.5 percent as much as guys.” In 2013, Women held under 15 percent of senior positions among Fortune 500 organizations and 17 percent for the Board of Directors’ seats. Consistently are men getting open doors over their female partners in occupations no matter how you look at it, the military as of late being the most questionable. Because of specific confinements and prerequisites, ladies are restricted from holding numerous situations in the military. Jena McGregor, a Washington Post writer, put stock in the possibility of correspondence for ladies in the military and guaranteed that such confinements restricted ladies from arriving at their fullest potential. In her 2012 May article, “Military Women in Combat: Why Making It Official Matters”, McGregor calls attention to that for each fourteen thousand employments offered there are 250 thousand that are stopped and not accessible to ladies. Some case that ladies are not as physically solid or come up short on the bleeding edge involvement for these occupations, yet the truth is that lady are continually being disparaged and consequently assembled under a similar misogynist conclusion. A few ladies who are very much equipped for these employments shouldn’t need to manage the formality that a man wouldn’t need to confront. Doubtlessly put, these daring ladies were being kept down in light of sex inclination, an issue that applies all parts of life. In the film business as indicated by Forbes’ 2016 May issue of the top-procuring on-screen characters and entertainers demonstrates that Jennifer Lawrence, who made $46 million, earned distinctly about 71% of what Dwayne Johnson earned at $64.5 million. On the off chance that the rundowns were joined Lawrence would be moved from first to sixth. A similar actuality applies to competitors. In Glamor magazine’s July issue Serena Williams remarked, “I’ve been working⦠playing tennis since I was three years of age. What’s more, to be paid less in view of my sex â it doesn’t appear to be reasonable⦠” She continues expressing her anxieties for her girl who will “[grow up inclination that she will always be unable to rival men regardless of how hard she works.]” Too numerous young ladies are threatened and disheartened by the minor truth that society continually organize men over ladies and never see both as equivalents. Then again, we should understand that ladies have officially gained gigantic ground in the previous century, making ready for themselves, pushing through desires. A lady’s “work” in the United States has changed extensively in the course of recent decades. Expanding quantities of ladies have taken on new obligations outside the home by joining the work domain. Ladies have gone from making up an insignificant third of the workforce in 1969, ladies today make up practically 50% of all laborers in the United States. Ladies are likewise venturing up in an official and political angle. From Hillary running for president to a record number of ladies pursuing open position in 20>
official, logical and specialized administrations segment and 8.9 percent of the development area. Twenty-four percent of the CEOs in the US were ladies and they earned simply 74.5 percent as much as guys.” In 2013, Women held under 15 percent of senior positions among Fortune 500 organizations and 17 percent for the Board of Directors’ seats. Consistently are men getting open doors over their female partners in occupations no matter how you look at it, the military as of late being the most questionable. Because of specific confinements and prerequisites, ladies are restricted from holding numerous situations in the military. Jena McGregor, a Washington Post writer, put stock in the possibility of correspondence for ladies in the military and guaranteed that such confinements restricted ladies from arriving at their fullest potential. In her 2012 May article, “Military Women in Combat: Why Making It Official Matters”, McGregor calls attention to that for each fourteen thousand employments offered there are 250 thousand that are stopped and not accessible to ladies. Some case that ladies are not as physically solid or come up short on the bleeding edge involvement for these occupations, yet the truth is that lady are continually being disparaged and consequently assembled under a similar misogynist conclusion. A few ladies who are very much equipped for these employments shouldn’t need to manage the formality that a man wouldn’t need to confront. Doubtlessly put, these daring ladies were being kept down in light of sex inclination, an issue that applies all parts of life. In the film business as indicated by Forbes’ 2016 May issue of the top-procuring on-screen characters and entertainers demonstrates that Jennifer Lawrence, who made $46 million, earned distinctly about 71% of what Dwayne Johnson earned at $64.5 million. On the off chance that the rundowns were joined Lawrence would be moved from first to sixth. A similar actuality applies to competitors. In Glamor magazine’s July issue Serena Williams remarked, “I’ve been working⦠playing tennis since I was three years of age. What’s more, to be paid less in view of my sex â it doesn’t appear to be reasonable⦠” She continues expressing her anxieties for her girl who will “[grow up inclination that she will always be unable to rival men regardless of how hard she works.]” Too numerous young ladies are threatened and disheartened by the minor truth that society continually organize men over ladies and never see both as equivalents. Then again, we should understand that ladies have officially gained gigantic ground in the previous century, making ready for themselves, pushing through desires. A lady’s “work” in the United States has changed extensively in the course of recent decades. Expanding quantities of ladies have taken on new obligations outside the home by joining the work domain. Ladies have gone from making up an insignificant third of the workforce in 1969, ladies today make up practically 50% of all laborers in the United States. Ladies are likewise venturing up in an official and political angle. From Hillary running for president to a record number of ladies pursuing open position in 20>
