Microeconomics discussion questions week 1 ii

This is assignment is needed completed by 7:30pm Easteern Time 12/8/2014. Thanks

 

 

 

 

 

 

Microeconomics Discussion Questions Week 1

 

 

 

I.              Please answer each of the following 8 questions in a minimum of 120 word count. Use in text citations and provide references.

 

 

 

1. Here is a question presented to you at the end of this Learning Activity.

” The technology is now developing so that road use can
be priced by computer. A computer in the surface of
the road picks up a signal from your car and automatically
charges you for the use of the road. How
would this affect bottlenecks and rush-hour
congestion?”

2. What are excise taxes and tariffs? How do they affect the market?

Resource:

Colander, D. C. (2013). Microeconomics Chapter 5: Using Supply and Demand, Economics (9th ed.). New York, NY: McGraw-Hill/Irwin

 

3. What is the price elasticity of Demand? Express the definition in an equation form. Please give an example.

4. What is the price elasticity of Supply? Express the definition in an equation form. Please give an example.

Resource:

Colander, D. C. (2013). Microeconomics Chapter 6: Describing Supply and Demand: Elasticities, Economics (9th ed.). New York, NY: McGraw-Hill/Irwin

 

5. This video has a close connection to our study in Chapter 1. After watching this video, please discuss the following:

 

6. What are the 3 central coordination problems that any economy must solve? 

 

7. How do these problems affect your personal or your organizational decision-making process?

Resource:

http://digital.films.com/PortalViewVideo.aspx?xtid=48959

 

8. How would a business firm or company find an equilibrium in the market?

Resource:

https://www.khanacademy.org/economics-finance-domain/microeconomics/supply-demand-equilibrium/market-equilibrium-tutorial/v/market-equilibrium

 

II. Answer the following questions

 

Write the definition for each of the following (150 word count minimum foe each definition):

 

  1. Law of Demand

 

 

 

 

  1. Law of Supply

 

 

 

 

 

Which of the following graphs best demonstrates the law of demand?

 

a)      I

b)      II

c)       III

d)      IV

 

 

Which of the following graphs best demonstrates the law of supply?

 

a)      I

b)      II

c)       III

d)      IV

 

           

 

Calculate Your Essay Price
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more