Macroeconomics Assignment 1 Questions: Week 2 to Week 3: – [15 Marks] Water is necessary for life. Is the marginal benefit of a glass of water large or small? Give an example of some action from your real life that has both a monetary and non monetary opportunity cost. (3 Mark) What does the “invisible […]
Plot the new demand curve together with the original demand curve and the original supply curve and calculate the new equilibrium price and quantity; by how much has the revenue to suppliers changed?
Microeconomics The assignments should be typed in Word. Diagrams and graphs, however, may be drawn with a pen and a ruler, drawn using Word/Excel, and scanned/pasted/attached to your submission. Problem 1 The demand and supply functions for hockey sticks are represented by the following equations, where Qd is the number of crates of sticks demanded, […]
Define both terms and explain the difference between microeconomics and macroeconomics. Is gross domestic product a microeconomic or macroeconomic question?
Micro Economics Complete the following questions in the form of short essays. Each question is worth 6 points. Be sure to cite your references when needed. Type all responses following each question on this assignment page and submit to the Dropbox. Answer the following questions about opportunity costs: Define opportunity costs. If you receive a […]
Explain the reasons behind the shift and how that has influenced the equilibrium price.
Discussion Post Think about a good or service for which you believe there has been a shift in demand or supply. Explain the reasons behind the shift and how that has influenced the equilibrium price. An effective way to organize your answer would be to copy the parts in a bullet list as follows and […]
Describe what different goods or services serve as a possible substitutes or compliments for the good or service you choose.
Compliment or a substitute services/goods Write a post describing a good or service that either a compliment or a substitute Be specific in describing what different goods or services serve as a possible substitutes or compliments for the good or service you choose. Give at least one specific example of a good or service that […]
Pick a Product or services you use in everyday life and describe the market for this product.
Pick a Product or services you use in everyday life and describe the market for this product. Address the following questions as well: What factors influence the demand for this product? What factors influence the supply of this product? How have these changes in supply and demand affected the equilibrium price of this product? Do […]
What distinguishes a natural monopoly from other monopolies? What are the pros and cons of regulating natural monopolies?
Evaluating Firm Behavior and Industry Performance With Imperfect Competition What distinguishes a natural monopoly from other monopolies? What are the pros and cons of regulating natural monopolies? Does your answer differ depending on the specific product or industry being regulated? Your response should be at least 75–150 words (1–2 paragraphs) in length. Assume Acme Corporation […]
What factors influence the demand for this product? How have these changes in supply and demand affected the equilibrium price of this product?
For Term Paper #1 you are required to pick a product or service you use in your everyday (APPLE MUSIC SUBSCRIPTION) life and describe the market for this product. make sure to address the following questions: 1. What factors influence the demand for this product? What factors influence the supply of this product? 2.How have […]
Include a paragraph in the initial response in their own words, using microeconomic terminology, reflecting on specifically what they learned from the assignment and how they think they could apply what they learned in the workplace or in everyday life.
Go to the internet and find a news article published within the last month that discusses changes in demand and supply of particular goods/services, summarize key points and post in the Discussions area. Refer to week 2 content materials and use specific economic vocabulary within your summary, i.e. demand, quantity demanded, determinants of demand, shifts […]
Describe how the supply or demand of this product might be changed. Which of the main categories of demand and supply factors presented in your textbook are involved?
1. Provide examples of a variable that affect the supply curve and a variable that affects the demand curve (You must refer to the determinants of demand and supply in your textbook) 2. Think of a product or service that use in your everyday life or workplace. Describe how the supply or demand of this […]