Free Essay

Gm454

In: Computers and Technology

Submitted By micah2424
Words 269
Pages 2
Week 2 Homework Help
1. State the administrative agency which controls the regulation. Explain why this agency and your proposed regulation interests you (briefly). Will this proposed regulation affect you or the business in which you are working? If so, how? Submit a copy of the proposed regulation along with your responses to these five questions. The proposed regulation can be submitted as either a separate Word document (.doc) or Adobe file (.pdf). This means you will submit two attachments to the Week 2 Dropbox: (1) a Word doc with the questions and your answers and (2) a copy of the proposed regulation you used for this assignment. (10 points)
Interstate Commerce Commission (ICC) regulated interstate surface transportation between 1887 and 1995. This interests me because of the changes of transportation. Yes, it does affect me because they are doing price controls and entry controls on the collective vendor’s price setting in the United States transportation.
2. Describe the proposal/change. (10 points)
It is regulated through varies transportation modes starting with the railroad industry and later the trucking and airline industry.
3. Write the public comment which you would submit to this proposal. If the proposed regulation deadline has already passed, write the comment you would have submitted. Explain briefly what you wish to accomplish with your comment. (10 points)
Deregulation—freeing up the trucking market to permit much more flexible pricing and service arrangements, disciplined by competition—allowed manufacturers to reduce inventories, move their products more quickly, and be more responsive to customers. Consumers indirectly benefited from the more efficient, lower-cost transport of goods.

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...The response to demand of computer and potato chips The supply’s response to demand is always a direct response. Suppliers of any commodity respond to a rise in demand by increasing their supply levels to meet the demand. The direct response stops at the point of equilibrium. The response to demand of potato and computer chips may differ both in the short run and long-run. The potato chips response will be faster in supply increase because the time needed in adjusting its production is shorter compared to the computer chips. On other hand, computer chips response in supply increase will be slower because adjustments to production require more time in cost adjustments. However, the response of both products to a rise in demand will be limited to changes in variable costs. Though as time goes by all costs can be adjusted to increase supply for both goods. Therefore, its’ conclusive to say potato chips response is quicker in the short term because its production cost variables take less time to change compared to computer chips. According to Andreu, Michael and Jerry (1995 in order to increase production in the short run each manufacturer has only one option, which is to change the variable costs that are easily adjustable. In the long run supply response will reach an equilibrium point with no shift for the potatoes because they are regularly consumed. However, a shift is possible if potatoes go out of season and thus, affecting supply. The computer chips supply...

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