ECON 545(DEVRY) help A Clearer path to student success/uophelp.com ECON 545(DEVRY) help A Clearer path to student suc | Page 25

doctor. She wants to evaluate if that career choice is an optimal decision
for her, so she has asked you for advice.
Having read the piece “Fewer Physicians Move, a Sign of Career
Caution” on page 20 of the textbook, you recognize the significance of
such a career decision for Jenny. You decide to educate yourself about
the market for physicians in terms of supply and demand, elasticity,
costs of production, pricing, and economic or normal profit or loss. You
want to provide Jenny with the most informed advice possible.
Situation B
Your neighbor Cindy wants to start a contracting business for installing
solar panels. She has heard of the cost savings that households and
businesses can make each year by installing solar panels on their roofs.
Cindy has also heard of government incentives for installing solar panels.
Being concerned about the environment and wishing to reduce pollution,
Cindy thinks installing solar panels also serves a good social purpose.
But she does not want to risk her life savings on a venture that might not
succeed or become profitable enough. After hearing from you about
taking this course in business economics, she decides to ask you for
advice.
At first you are hesitant to give investment advice. Then you read the
piece “US boosts ‘game-changer’ solar technology in bid for global
market share” on page 374 of the textbook. You realize there are more
pieces to the decision than Cindy is considering. You decide to research
the market in terms of supply and demand, elasticity, costs of production,
pricing, and economic or normal profit or loss. You want to provide
Cindy with the most informed advice possible.
Situation C