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This module has focused on different business costs. For this week’s paper, go to your local grocery store and price the ingredients for baking chocolate chip cookies. For simplicity, assume the ingredients for three dozen cookies are: One 16 oz. box of sugar One 12 oz. bag of chocolate chips One 2 lb. bag of […]
Tariffs have become a hot topic. In a paper: Describe how a tariff affects the market for a good the United States produces but is a net importer (for example, of steel). Draw a supply and demand graph (do not just copy and paste a graph; create your own) illustrating world trade and a tariff. […]
Read Chapter 4 to answer the questions below. Identify the determinants of the price elasticity of demand. Explain each one. Determine whether each of the following items is elastic or inelastic: bottled water, gourmet coffee, Apple cell phones, and gasoline. Explain your reasoning. Distinguish between a necessity and a luxury. How are the price elasticity […]
Read Chapters 6 & 7 to answer the following questions. Remeber to answer the questions thoroughly. Externalities are costs or benefits associated with consumption or production that are not incurred by the consumer or producer and are therefore not reflected in market prices. The cost or benefit of an externality remains external when falling to […]
Prior to beginning work on this discussion, read Farah Mohammed’s article, Why Are Diamonds More Expensive Than Water?, as well as Chapter 5 in your textbook, especially Sections 5.1 and 5.3, and respond to the following: Describe the relationship between total utility and marginal utility. Explain if marginal utility can be negative. Examine the diamond-water […]
Where is behavioral economics headed post New York Covid – 19 Lockdown? This article must provide a full understanding of Richard H Thaler’s lecture “From cashews to Nudges the evolution of behavioral economics”. Make direct connections from his lecture and theories to what is going on in New York & New Yorkers during this covid […]
Is price discrimination generally illegal? In the below list which ones are illegal? What about the ethics of price discrimination? Discuss. Examples: Higher interest rates on car loans for borrowers with lower credit scores. Charging ethnic minorities higher rates on mortgages and mortgage refinancing. Charging higher rates on business loans.
A change in quantity demanded (or a movement along the demand curve) is caused by a change in its own price while a change in demand (or a shift of the demand curve) is caused by a change in nonprice determinants that include changes in consumers’ income, taste or preference, price of other goods, expected […]
In essay format, provide well-developed responses to the following questions: -How are tax policy, economic policy and political ideology (particularly liberalism and conservatism) related? -How was this relationship demonstrated in the financial crisis of 2008? -Which policy-making model or models best describe the federal response to the crisis? -Were they the best models for dealing […]
1. Use your analysis to justify the bank loan application for the recommended alternative. 2. What risks would Foster and the bank consider in evaluating the investment? 3. What cognitive biases should Foster be on the lookout for during the decision making process? Explain your reasoning. 4. What is the Economic profit per month of […]
