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Task A
In 500 words or fewer, answer an original question of your choice which requires you to use a microeconomic principle, or principles, discussed in the module. This question should involve a pattern of events or behavior that you personally have observed. The issue you address need not be one traditionally analyzed using economics, but your work should be an original application of economic logic and reasoning to something which interests you.
Examples of issues students elsewhere have addressed are:
Your question and the issue you address need not be important or worthy, but try to begin with an interesting question. You should check with your seminar tutor that the question you wish to address is suitable. The most successful answers begin with a really interesting question (one that makes the reader instantly curious to learn the answer) and then use an economic principle or principles to construct a plausible answer. You do not have to provide a complete solution to the question - the key is to apply economic principles to achieve an insight into the issue.
It should be written as if to a friend or relative who has never taken a course in economics. It must be clearly understood by such a person. It does not need diagrams or mathematics. It should not be heavily laden with economic jargon or terminology. You should not need to include references in this task since it is an original application of principles. However, if you draw upon sources these should be referenced. You are not expected to do extensive research in support of your argument, although a relevant fact or two might help convince yourself and others that you are on the right track.
Discuss a scenario where either the supply or price of a good or service is intentionally limited by the government.
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Three main facts indicate that Microsoft enjoys monopoly power. First, Microsoft's share of the market for Intel-compatible PC operating system is extremely large and stable. Second, Microsoft's dominant market share is protected by high barrier to e..
when a cold snap hits florida, the price of orange juice rises in the supermarkets throughout the country. Illustrate the supply and demand table for this scenario.
Now assume that once he earns $400 he loses all his food stamp assistance. How does this change his budget constraint.
Compute the gross price paid by consumers after a per-ticket tax of $4. Calculate the after-tax price received by ticket sellers.
Suppose you read in the newspaper that all last week the Fed conducted purchases in open market, and that on Tuesday of last week it lowered the discount rate.
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Assume the manager asks for volunteers to postpone their tour by offering increasing amounts of cash compensation until only four people want to see the caves that day.
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