Article review and textbook
Read the article here: https://qz.com/work/1444497/there-might-soon-be-more-economists-at-tech-companies-than-in-policy-schools/
Please read chapter 2 of Managerial Economics, 8th edition, by Samuelson and Marks. ISBN(10): 9781118808948.
Then answer the following four questions in the “Article One discussion board ” forum on blackboard. Give at least two sentence answers to each question. It is advised you finish reading chapter two before answering. Please refer to textbook chapter 2 Managerial Economics, 8th edition, by Samuelson and Marks. ISBN(10): 9781118808948.
- Given the assumption from your textbook that “firms maximize profits” what are some positive aspects of tech firms, which constitute a large portion of U.S. research and development, hiring so many economists. 2. Describe one possible way a valuable tech product or platform could be (or has) negatively impacted by employees with the “profit maximization” mindset. 3. Given the list of applications that economists work on in the tech world (listed in the article), what is one application that you would be interested in learning the relevant economic theory for. 4. Given the discussion of Uber’s price setting in the article and the use of Big Data to calculate the demand curve for Uber from the chapter two slides. Explain how Uber would benefit from knowing their demand curve. Does this give them all the information they need to maximize profits?