{ textual matter:bookmark-start} Scenario {text:bookmark-end} Concept {text:bookmark-start} University of genus Phoenix {text:bookmark-end} {text:bookmark-start} ECO 561 {text:bookmark-end} {text:bookmark-start} Professor common basil Al-Hashimi {text:bookmark-end} {text:bookmark-start} September 4, 2009 {text:bookmark-end} Scenario Concept testament cover is researching the launch of his digital book invention. Will has some(prenominal) embarrassing decisions to make in order to try and give out the upper limit r eveningue from selling his product. Will was examine the books into his digitizer to produce the product himself, this proved a real time eat process. Will has to decide whether to hire others to translate the books or to do it himself. Will could give birth cut-rate labor from students in the get together States or even cheaper labor from employees oversees by outsourcing. Labor is element of production. Any of these choices leave ef fect his economic wampum. Economic profit is total revenue minus total cost. Labor is a factor in determining total cost. Will do a considerable choice in setting up a website to run his product to a larger market. Websites argon relatively gaudy to set upand run but even so argon available to most people. The website was a great market strategy. References McConnell, C.R., Brue, S.L., & Flynn, S.M. (2009). political economy: Principles, problems, and policies (18th ed.). New York: McGraw Hill/Irwin University of Phoenix. (2009). Will Bury’s footing elasticity scenario. Retrieved August 30, 2009, from University of Phoenix, Week four, ECO 561.If you want to get a full essay, order it on our website: OrderEssay.net
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