Principles of Microeconomics Social Responsibility Assignment

Principles of Microeconomics Social Responsibility AssignmentBackgroundProfit maximization is the assumed goal of the firm. That is, the firm’s goal is to maximize profits subject to its costs. Critics, assert that this interpretation of the goal of the firm is quite narrow because it ignores the realities of environmental concerns, or the firm’s obligation to its communities to ensure that the firm produces products that are both safe and profitable. Market structures such as monopoly, monopolistic competition and oligopoly all have the goal of profit maximization.CASE STUDYLowes and Home Depot are national and international home appliances’ stores. Both firms are considered monopolistic competitive. Both companies publish on their websites information and data on their social responsibility efforts.From their website data, compare and contrast the Social Responsibility programs of Lowes and Home Depot. How does the dollar amount these companies spend compare to the profits that they made in fiscal year 2014? Do you feel they are doing enough? Explain. (30 points)2. In what ways have these companies demonstrated commitment to their communities in providing environmentally safe products? (30 points)RubricRubric Component4.5 -53.5 -432.5Identifies and summarizes the problem/question at issueAccurately identifies the problem/question and provides a well-developed summary.Accurately identifies the problem/question and provides a brief summary.Identifies the problem and provides a poor summary.Does not identify or summarize the problem/question accurately if at all.Identifies and assesses supporting data/evidence used.Clearly provides ample evidence of research and of consulting outside sources.Provides some evidence of research and of consulting outside sources.Provides scantevidence of research, or of consulting outside sources.Does not provide any evidence of research, or of consulting outside resources, or merely repeats information provided.

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