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microeconomics

Choose a product (or group of products) that are significantly impacted by supply and demand. Imagine that you are themanager leading the team responsible for this product. You have been asked to share information with your supervisor as to the potential ways in which the product can be affected by supply, demand, and market equilibrium and the implications for strategic planning related to this project. Apply your understanding of these concepts to the product and prepare an informative summary that could be shared with your supervisor.

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Topic
In some countries prices are determined by the government rather than market forces. In these countries there are usually underground or black markets where illegal transactions take place at higher prices than the government controlled price ceiling. In economies where prices are determined by market forces, underground markets are seldom observed.
1. Why are there market extensive underground markets in economies with government controlled prices but not in economies with market determined prices?
2. Briefly include how the market determines prices; if a price is higher or lower than it “should” be, what happens and why? Why does voluntary exchange (buying and selling) occur at higher than legal prices on the underground market? (A graph might help to explain your paper).
Don’t confuse the term demand/ quantity demanded and supply/quantity supply
Grading
Papers will come back with two score:
1. The first is for the economics.
2. The second for the presentation.
Each score may range from 0 to 4.0. Paper may have the following marks
? Good point, right idea.
? Idea is not quite right.
? Get rid of this letter/word.
? Your idea isn’t clear.
sp Word is misspelled.
/ A paper is needed here.
Switch the order of these words.

 

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Microeconomics

Paper details:
Research and summarize, in your own words, any WSJ article relating to class topic/discussion. After summarizing, give an opinion based on class topic, without going back to the article. The opinion should include graph illustration what is going on based on the personal opinion. I prefer article with Demand and Supply graph as shown on PDF class lecture. Notes from James: 1. Find the article from WSJ that talks about supply & demand (and preferably has graphs in it) and confirm it with the client. 2. AFTER the client has confirmed the article, write about it as per assignment instructions.

Paragraph 1:  Summarize article in your own words

Paragraph 2: Explain the class topic in your own words. Do not summarize the article again, but use it as an example in your explanation.

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Why do you think there is a shortage of organ donations?

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Why do you think there is a shortage of organ donations?

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Discussion-Qu….docx

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In which of the following cases will total revenueincrease?A.price falls and demand is inelasticB.price falls and supply is elasticC.price rises and demand is inelasticD.price rises and demand is elastic

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Suppose the demand for computers by Taiwanese consumers is given byP=6,000 – 2 D Q ,where QD is the annual quantity of computers demanded and P is the priceper computer in dollars.The supply of computers by domestic Taiwanese producers is P = 2 S Q ,where QS is the annual quantity of computers suppl…

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8. Ringo loves playing rock ‘n’ roll music at high volume. Luciano loves opera and hates rock ‘n’ roll. Unfortunately, they are next-door neighbors in an apartment building with paper-thin walls.a. What is the externality here?b. What command-and-control might the landloard impose? Could such a po…

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the fact that price and quantity demanded are related negatively illustrates the? a. law of supply b. law of quantity supply c. law of demand d. law of quantity
demanded e. point that some facts are unobservable.

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Econ 301: Assignment 3 due March 14, 2012 The total number of points is 60. Provide complete work that leads to each answer. Do the problems in the order given. Instructor: Ming Li 1. (9 points) TRUE or FALSE (3 points each). (a) If a good is a normal good, then the substitution eect and the income eect are of the same sign. (b) If the consumer has Cobb-Douglas preferences, it is possible for one of the goods to be a Gien good. (c) If a consumer has quasilinear preferences over two goods, then her consumption of neither good depends on her level of income. 2.

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Econ 301: Assignment 3 due March 14, 2012 The total number of points is 60. Provide complete work that leads to each answer. Do the problems in the order given. Instructor: Ming Li 1. (9 points) TRUE or FALSE (3 points each). (a) If a good is a normal good, then the substitution eect and the income eect are of the same sign. (b) If the consumer has Cobb-Douglas preferences, it is possible for one of the goods to be a Gien good. (c) If a consumer has quasilinear preferences over two goods, then her consumption of neither good depends on her level of income. 2. (6 points) Based on the following demand functions, determine whether good 1 is a normal good or inferior good, whether it is an ordinary good or Gien good, and whether it is a substitute or complement for good 2. (a) x1(p1; p2;m) = m 2p1 p2 . (b) x1(p1; p2;m) = m1=2p1=4 2 p3=4 1 . 3. (15 points) Consider the utility function u(x; y) = 2 ln x ln y. Initially, the prices are px = $2/unit and py = $1/unit. The consumer has an income of $18. Illustrate your answers with graphs. a. (3 points) Derive the consumer’s optimal consumption bundle. b. (2 points) Now suppose the price of good x increases to p0x = $3/unit. What is the new optimal consumption bundle? c. (5 points) Calculate the substitution eect and the income eect. Illustrate it on a graph. d. (5 points) Calculate the compensating variation and equivalent vari- ation of the price change. 4. (10 points) Connie, as you may recall, always takes one cup of cookies with one cup of coee. Cookies cost $2 per cup, and coee costs $1 per cup. Connie has $12 to spend on cookies and coee. Consider a price drop in cookies to $1 per cup. a. (4 points) Illustrate Connie’s optimal consumption bundles before and after the price change with a graph. Explain your reasoning. b. (6 points) Decompose the change in Connie’s consumption of cookies into the income eect and the substitution eect. Illustrate them in the graph. 1
5. (12 points) Suppose a consumer’s demand for good…

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Hi,
I would like to get help on my Microecnomics HW, which is due as mentiod today, and it’s only 9 quiestions posted on aplia website.
 
Thanks,

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Assignment 2: Market Forms

For this assignment you will do a significant portion of work in MS Excel and import it into an MS Word document for submission. You will use the data below to address Price and Output decisions faced by firms that are not in pure competition. Some numbers may be rounded.

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This is an assignment of microecnomics class in 3rd year of university.

I upload assignment questions through uploading files. 

There are five questions. ( You may can see through the files what i uploaded)

 

I request to solve the each questions with detail explanations:)

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Questions 

 

  1. The following table gives short-run and long-run total costs for various levels of output for a perfectly competitive firm:
Output (Q) SRTC AVC TR
0 350    
1 400    
2 425    
3 465    
4 505    
5 560    
6 635    
7 730    

Note: AVC is Average Variable Cost

TR is Total Revenue

SRTC is Short Run Total Cost

SRTC = FC + VC (Total Cost = Fixed Cost + Variable Costs)

Please see background material for additional formulas.

  1. Suppose the fixed cost (FC) of production is $350 and Price (P) is $55, complete the table above. (Cut and paste the table into a separate document).
  2. Suppose you are producing 2 units of output (Q = 2), if you want to produce one extra unit of output (Q = 3), what would be the marginal cost? (Show your work.)
  3. If the market price is given as $55, how much output will the perfectly competitive firm produce to maximize profits? (Show your work.)
  4. Calculate the profit or loss. (Show your work.)
  5. Should the firm always shut down in the short run when it experiences a loss? Explain
  6. provide sources

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