ECON10004: Introductory Microeconomics // Assignment PART 1. Gains from trade [36 points]Suppose Amy and Penny are housemates and there are two chores that need to be completed: cookingmeals and laundry. Assume the hours needed to cook a meal or finish a basket of laundry are differentfor Amy and Penny and are described in the table […]
Produce a ten-year market forecast for a good or service of your choice.
Market forecast – Microeconomics Produce a ten-year market forecast for a good or service of your choice. You can choose another service or goods or you can use the market forecast on a service – a licensed residential care service for children in out of home care (northern NSW). The children will need to be […]
What is the highest price our farmer would be willing to pay for this technology if she still wants to produce 4 units of S?
Microeconomics problem set PART I: PRODUCTION FUNCTIONS State whether the following claim is true or false, and briefly explain your answer. The following production function exhibits increasing returns to scale: Q= I, +1(1 Erin’s admission to a prestigious music school depends on the total score (Q) the admissions office decides to assign her. The school […]
Is it possible to reach a market equilibrium if the price of orange juice PJ remains unchanged? Why? How much quantity of orange juice will finally be exchanged on the market?
Microeconomics Assignment Questions Q1 Consider the market for orange juice. In this market, the supply curve is given by QS = 100PJ −20PO and the demand curve is given by QD = 1000−150PJ +100PC, where J denotes orange juice, O denotes Orange, and C denotes coffee. Assume that PO = 10 and Pc = 8. […]
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, […]
Explain whether the product is elastic or inelastic based on your research of the industry. Explain how this will impact the profitability of the company.
MICROECONOMICS This assignment is a research project meant to help you synthesize and analyze course information in a meaningful way. You will need to do outside research. You will turn in a single PDF of your work. Step 1: Developing Your Pitch In this project, develop a product that you will pitch to investors. In […]
Explain several concepts that are essential to an understanding of how the economy works. Explain how these concepts describe the benefits and costs of international trade.
Week 1 Discussion Your son is graduating from high school and is about to enter the work force. He has developed a strong curiosity about our economic system and how it works. Because you have a good understanding of basic economics, he has asked you to explain several concepts that are essential to an understanding […]
Write the report as if they were a company or industry consultants considering the establishment/maintenance of price, quantity produced or sold, or a change in price or quantity.
Elasticity in microeconomics. Your research paper topic will cover a specific area that relates to elasticity in microeconomics. The topic should be chosen in consultation with the professor. Write the report as if they were a company or industry consultants considering the establishment/maintenance of price, quantity produced or sold, or a change in price or […]
Choose a special-interest group from a U.S. industry and examine their role in politics.
Special-Interest Groups Choose a special-interest group from a U.S. industry and examine their role in politics. Discuss how that interest group aligns with public choice theory. Locate a recent article or event (published within the last year) that highlights your relevant microeconomics topic. Use the Hunt Library, newspapers, new stations, or other credible sources to […]
Explain a solution for one current or future microeconomics problem of your interest.
Microeconomics issue Explain a solution for one current or future microeconomics problem of your interest. Or choose a microeconomics issue or subject that you care deeply about or offer a solution to a problem you care about. To get ideas, check out the library, news, economic journals, or other sources. You may NOT choose the […]