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Assignment: Principles of Microeconomics
Prepare an 875-word research paper as part of a marketing research committee for your organization about current microeconomic thought and theory.
Identify the fundamental lessons the Ten Principles of Economics teaches regarding:
• How people make decisions• How people interact• How the economy works as a whole
Explain the following to help the committee members understand how markets work:
• How society manages its scarce resources and benefits from economic interdependence.
• Why the demand curve slopes downward and the supply curve slopes upward.
o Where the point of equilibrium is and what does it determine?
• The impact of price controls, taxes, and elasticity on changes in supply, demand and equilibrium prices.
Motels along Myrtle Beach, South Carolina, charge $120 a night in the summer but sometimes as little as $35 a night in the winter. Use supply and demand analysis, including graphical and verbal explanation, for these winter "sales."
You are required to write an essay within which you will identify and discuss the main factors that affect the capesize bulk carrier trade and identify whether 2012 has been a good year for capesize owners; you must justify your answer with data.
Write about the problem or issue as if you are explaining it to someone who has never taken an economics class. Be sure to explain the key concepts and terminology of both microeconomics and macroeconomics within your paper.
review the pizza store layout simulation. during your review examine the process in this simulation. play it at least
you have the following data for the last 12 months sales for the prq corporation in thousands of
A firm has the following demand plans and short-term costs for a particular product. Q = 200 -5p TC = 400 + 4Q. What price should the company sell their product?
a. suppose your local congress representative suggests that the federal government should not intervene in the
The Federal Government announced a tax rebate of $500 for all individuals filing singly
Consider a firm which employs capital and labor as inputs and sells 5,000 units of output per year at the going market price of $10. As well suppose that total labor costs to the firm are $45,000 annually.
Graph the demand curve for QY. You may use prices for Y of 2, 4, 5, and 10 as a guide. (You can use these four points as a guide to get a reasonable approximation for the rest of the demand curve.)
what factors affected national income unemploymey rate and inflation rate what factors effect each of these economic
the firm currently uses 50000 workers to produce 200000 units of output per day. the daily wage per worker is 80 and
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