...Final Project Part I Milestone One: Supply, Demand, and Market Equilibrium Click Link Below To Buy: http://hwaid.com/shop/final-project-part-i-milestone-one-supply-demand-and-market-equilibrium/ Apple is the Company and the product is IPhone 6 3-2 Final Project Part I Milestone One: Supply, Demand, and Market Equilibrium This milestone, which covers Section II of Final Project Part I, should be a paper structured as follows: 1. Describe the price elasticity of supply or demand for your product or service. 2. Explain how two nonprice factors impact the demand of your chosen product or service. 3. Explain how two nonprice factors impact the supply of your chosen product or service. 4. Define the industry and the market equilibrium associated with the product or service. 5. Predict the effect of changes in supply and demand on the market equilibrium. 6. Describe the decisions related to supply and demand for the product or service that you would make based on the predicted changes in supply and demand on the market equilibrium. 5-2 Final Project Part I Milestone Two: Production and Costs This milestone, which covers Section III of Final Project Part I, should be a paper structured as follows: 1. Describe three key inputs (or factors of production) and fixed and variable costs involved in the production of your chosen product or service. 2. Analyze the factors that impact your choice of inputs to produce the chosen product or service. 3. Examine the production...
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...of Guelph Department of Economics College of Management and Economics ECON*1050 (01, 03) Introductory Microeconomics E. Adomait (Section 1 MWF 10:30 to 11:20 RozH 104) (Section 3 TTh 1 :00 to 2 :20 RozH 101) Email: eadomait@uoguelph.ca Fall 2010 MacKinnon 728 Ext. 56343 It is your responsibility as a student to be aware of and to abide by the University’s policies regarding academic misconduct, e-mail communication, maintaining copies of out-of class assignments, what to do when you cannot meet a course requirement and the drop date for this semester. To better understand these policies, visit: http://www.economics.uoguelph.ca/courses.asp COURSE OUTLINE Synopsis Market economies primarily rely upon the price system as a means of allocating resources. The objective of Introductory Microeconomics is to develop in students an understanding and appreciation of this price system. The course will survey the strengths and weaknesses of the market economy, as well as the successes and failures of government intervention in the market. Much of the course content is theoretical in nature. Once students have acquired facility in handling these analytical tools, attention will turn towards issues of public policy such as marketing boards, competition policy, environmental policy, and trade policy. Required Textbook: Michael Parkin and Robin Bade, Microeconomics, Canada in the Global Environment, 7th Ed. Purchased new, the textbook is bundled with an access code for...
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...apartments on a month-to-month basis. This paper will cover the simulation’s supply and demand for two bedroom apartments, the concepts of microeconomics and macroeconomics principles, the shifts in supply and demands, and how the equilibrium is affected during the shifts. The paper also covers how price elasticity of demand affects the decision-making of the consumer and the organization. Introduction The "Applying Supply and Demand Concepts" simulation displays how the supply and demand curves are affected by various conditions that happened with Goodlife's two-bedroom apartments in the city of Atlantis. The simulation called for choices to be made on the grounds for what was happening in the community of Atlantis and what the company was trying to accomplish economically as an effect of the changes within the community. This paper will recap concepts found in the simulations and explain what caused the changes in supply and demand, how the changes in supply and demand played a key part in the decisions that were made, and relate the concepts of supply and demand to reality. Microeconomics and Macroeconomics According to Colander (2010) “Macroeconomics is the study of the economy as a whole. It considers problems such as inflation, unemployment, business cycles, and growth” (pg. 20). On the other hand, microeconomics focuses more on the smaller portion; individuals. Therefore supply and demand depends on microeconomics and macroeconomics since the both include amounts...
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...[pic] Australian School of Business School of Economics ECON1101 MICROECONOMICS Course Outline Semester 1 2011 Table of Contents STAFF CONTACT DETAILS 3 1.1 Staff 3 1.2 Communications with staff 3 1.3 Pitstop 3 2 COURSE DETAILS 4 2.1 Teaching Times and Locations 4 2.2 Units of Credit 4 2.3 Summary of Course 4 2.4 Aims and Relationship to Other Courses 4 2.5 Student Learning Outcomes 5 3 LEARNING AND TEACHING ACTIVITIES 5 3.1 Approach to Learning and Teaching in the Course 5 3.2 Learning Activities and Teaching Strategies 6 4 ASSESSMENT 7 4.1 Formal Requirements 7 4.2 Quality Assurance 7 4.3 Assessment Details 8 4.3.1 Week 9 In-Session Test 8 4.3.2 Tutorial Participation 8 4.4 Final Exam Format 9 4.5 Feedback Quizzes 9 5 ACADEMIC HONESTY AND PLAGIARISM 10 6 COURSE EVALUATION AND DEVELOPMENT 10 7 STUDENT RESPONSIBILITIES AND CONDUCT 11 7.1 Workload 11 7.2 Attendance 11 7.3 Keeping Informed 11 7.4 Special Consideration and Supplementary Examinations 11 You must submit all assignments and attend all examinations scheduled for your course. You should seek assistance early if you suffer illness or misadventure which affects your course progress. 11 General Information on Special Consideration: 11 8 STUDENT RESOURCES AND SUPPORT 13 9 COURSE RESOURCES 14 9.1 Other useful Readings: 14 10 COURSE SCHEDULE 15 10.1 Lecture Schedule 15 10.2 Tutorial Schedule 15 11 KEY DATES AND STUDENT RESPONSIBILITIES...
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...ECN 104 Introductory Microeconomics Section 011 Professional/Professionally Related Course Anti-Requisites: ECN 110 and FMG 905 Contact Instructor: Frank Trimnell Office: JOR 617 Office Hours: Wednesday 2-3 PM (By appointment only) TA’s: Watch for announcement Phone: 416-979-5000, x.6666 Email: ftrimnel@ryerson.ca Lecture: Wednesday 3-6 PM in classhall DSQ 13 Blackboard: my.ryerson.ca Course Description This course is concerned with basic concepts of demand and supply, the theory of the firm, and distribution of income. It includes a study of business behaviour and decision making under various market conditions: pure competition, oligopoly, monopolistic competition, monopoly. Course Materials We will use the following textbook: Mankiw, N. Gregory, Ronald Kneebone, and Kenneth McKenzie (2014), Principles of Microeconomics, 6th Canadian Edition, Toronto, Nelson, See http://www.nelson.com/catalogue/productOverview.do?N=11&Ntk=P_EPI&Ntt=15370232532127313393641290261480136597 Course Evaluation Evaluation consists of: Midterm exam: 40% (in class; 2 hours—60 questions) Final Exam: 60% (in class; 2.5 hours—75 questions) The final exam will cover the entire semester. NOTES : (i) If the Midterm exam is missed due to acceptable, documented, circumstances (see Common Departmental Course Management Policy below), the makeup exam will be scheduled through the Make-Up Test Centre (http://www...
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...Final Analytical Application of Current Microeconomic events Introduction The article ‘Financial crisis in the living room’ written by Renan Bourdeau on the 8th of September 2013 featured in the Khaleej Times. It questions the ramifications ascribed to the fact that the populace’s salaries are not increasing in congruence with housing costs. The article cites that the recovery of the residential estate in Dubai has featured in the news for quite some time and the prices of houses have soared, and have been accompanied by high rental costs for properties. As a result of the drastic increase in the housing prices which is bound to extend until the year ends, utility costs have flared up in the region. The credit crisis ascribed to the region has resulted in an increase in the cost of purchasing household equipment, as well as conducting routine household maintenance by approximately 3.69 percent (Bourdeau, n.d). The emergent question is what impact this surge is bound to have on consumer lending, debt repayment and borrowing. During the beginning of the year, over a five-month period, consumers took loans worth more than Dh9 billion, a sum that correlates with the whole of 2012’s increase. Moreover, the UAE presently represents more than 60% of the consumer debt within the GCC. Its ratio of debt to income is greater than that of the US and most countries in Europe. This is an unsettling sign that indicates mounting household debt within the country. In addition, most residents...
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...TARGET CORP. 1 Microeconomics: Target Corp. Yolanda L. Ramos-Guistizia Southern New Hampshire University TARGET CORP. 2 Microeconomics – Target Corp. For this research paper I picked Target Corp. (Target) as the firm I'll be analyzing and the market that Target is apart of. Target is the second largest American retailer and mass merchandiser. It sells household essentials and fashionable merchandise at discounted prices. Throughout this final project I will discuss supply and demand and pricing and marketing techniques. I will also discuss Target's successes within the United States, their abrupt exit from the Canadian market. "Microeconomics is the study of how households and firms make choices, how they interact in markets, and how the government attempts to influence their choices." (Hubbard and O'Brien, 2013, p. 15) History of Target Corp. Target was founded in Minneapolis, Minn. in 1902 under Dayton Dry Goods Company and in 1911, it's founder George D. Dayton, renamed it The Dayton Company to better reflect their services and goods. George D. Dayton creates The Dayton Foundation with a $1 million endowment and a purpose to aid in promoting the welfare of mankind anywhere in the world. Renamed the Dayton-Hudson Foundation in 1969, it later becomes the Target Foundation in 2000. (Target Corporation, n.d.) In 1946 Target becomes the second American organization to come up with a preset amount to donate annually. The organization settles on...
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...Costs of Going to School Melissa Olson Rasmussen College Author Note: This paper is being submitted for Professor Sherwood’s G204 Microeconomics course. Costs of Going to School I had a good idea of what I was getting into when I signed up for classes at Rasmussen. I knew that I wanted to pursue a career in accounting, and in order to do that, I would need to complete schooling and get some sort of degree. When deciding the path I wanted to take, Rasmussen was one of my options. The thing that I liked most about Rasmussen was the flexibility of their online courses. Most people who took them still worked full time jobs and some even had families of their own to take care of. I knew that since I still needed to work full time in order to make student loan payments, that Rasmussen was my best bet. I signed up for courses, and began to look at the accelerated schedules. The reason that I chose this path was because I knew that I could handle a big workload and could take on up to six courses per quarter. The graduation date was also much sooner than if I were to take the regular scheduled courses. I knew there would be late nights, busy weeks, and a hectic finals week, but I also knew that I could handle it. Some of the specific opportunity costs that I have faced since starting my school career are less ‘free’ nights. I try to spread my schoolwork out evenly, so I don’t get too overwhelmed when it comes closer to my assignment due dates. There have been nights where...
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...Page 1 of 7 Massachusetts Institute of Technology Department of Economics 14.01 Principles of Microeconomics Final Exam Wednesday, December 19th, 2007 Last Name (Please print): ______________ First Name: __________________ MIT ID Number: __________________ Instructions. Please read carefully. The exam has a total of 100 points. Answers should be as concise as possible. This is a closed book exam. You are not allowed to use notes, equation sheets, books or any other aids. You are not allowed to use calculators. You must write your answers in the space provided between questions. DO NOT attach additional sheets of paper. This exam consists of (18) sheets (13 pages + 5 blank pages for scratch work). 0. Circle Your Section/Recitation (1 point): Please circle the section or recitation which you are attending below. The marked exam will be returned to you, in the section or recitation that you indicate. You will loose 1 point if you leave it unselected. S01: MWF9 (Peter Schnabl) R01: F10 (Rongzhu Ke) S02: MWF10 (Chia-Hui Chen) R02: F11 (Rongzhu Ke) S03: MWF11 (Chia-Hui Chen) R03: F2 (Rongzhu Ke) S04: MWF1 (Monica Martinez-Bravo) R04: F12 (Marco Migueis) R05: F1 (Marco Migueis) R06: F2 (Marco Migueis) DO NOT WRITE IN THE AREA BELOW: Question 1 __/25 Question 2 __/5 Question 3 __/25 Question 4 __/25 Question 5 __/19 Question 0 _/1 Total __/100 Cite as: William Wheaton, Chia-Hui...
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...Exam Name___________________________________ MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) Which of the following statements is correct? A) By and large, managerial decisions are not affected by either microeconomic or macroeconomic forces. B) Managerial decisions are affected primarily by macroeconomic forces. C) Managerial decisions are affected by both microeconomic and macroeconomic forces. D) Managerial decisions are affected primarily by microeconomic forces. 1) 2) Walmartʹs decision in 1994 to continue operating stores in specific cities in Mexico when other firms were pulling out would be best classified as: A) a microeconomic decision. B) a macroeconomic decision. C) both a microeconomic and a macroeconomic decision. D) neither a microeconomic nor a macroeconomic decision. 2) 3) Which of the following would be considered an example of a macroeconomic problem? A) Should Microsoft reduce the price of its Windows operating system? B) Should JP Morgan Chase increase the interest rate it charges its credit card customers? C) Should Mitsubishi eliminate one of its production shifts? D) Should the federal government extend the eligibility period for unemployment benefits? 3) 4) Walmartʹs entry into the market in Mexico had the effect of: A) reducing competition and raising the prices of many of the goods it sells. B) increasing competition and raising the prices of many of the goods it sells...
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...CHAPTER 1 THE PROBLEM AND ITS SETTING Introduction In the Philippines , most of the Filipinos experienced the modern technology of science. People now using the modern materials and machines all over the world and our country as well. The areas of modernization especially the communication and transportation gave big change of easiness of some hard and difficult works of Filipino people. The Laguna province shows progress not only in agriculture but also in industries. These changes and improvement were done through modern equipment. Different schools also improved their education with the help of these highly - technological equipment. In this 20th century, a years of information and revolution, computer appears as one of the most powerful all purpose and unique tool which is used in the world and also in our country nowadays. Computer is often use in companies, factories, hall, supermarkets, schools as well as in our house. It is said that using this tool makes work efficient, accurate, and with less effort. In companies, computer is used in business transactions, payrolls, inventories, and many more. Computer is also used at home for teaching and aids in attaining educational purpose for the benefits of the students. Computer can assist one in a particular subject...
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...Contents Course Scope | Macroeconomics is concerned with the study of the structure of an aggregate economy and its basic sub-divisions such as government, households and businesses and the relationship between these major components. It addresses the issues of economic growth, recession, unemployment, inflation, international trade, and the role of government and its policies for stabilizing the economy including monetary policy and fiscal policy. Table of Contents Course Objectives | After successfully completing this course, you will be able to: LO-1. Define economics in general terms. LO-2. Explain how economists use the scientific method to formulate economic principles. LO-3. Differentiate between microeconomics and...
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...specific economic principles learned in this course are put to practical use. You must translate your ideas into economic analysis using the specific economic theory and economic terms contained in the TCOs covered in the course, and demonstrate that you are understanding and utilizing material from text chapters covered up to this point in the course, to receive full credit on the assignment. You are being asked to submit a report containing responses to three exercises. Exercise 1 entails a choice of one topical microeconomic issue out of two possible alternatives. Exercises 2 and 3 entail a choice of two textbook questions out of a list of possible alternatives. |Exercise 1 | | | | | Choose one of the following two microeconomic issues: 1. Everyone’s Gasoline Problem. We are all familiar with fluctuating prices of gasoline at the pump. Why does this happen? Research the recent history of gasoline pricing in your area, and attempt to relate any fluctuations you observe to documented supply and demand factors, as outlined in our book....
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...Managerial Economics ECP 3703 01Z, 02Z, and 03Z (CRN 21124, 21446, and 21456) are held at times determined by You At eLearning (online) in Canvas. Professor: Dr. John Hilston – (321) 433-5327 hilstonj@easternflorida.edu - You need to use Titans email! Department Chair – Mr. Charles Kise 3 Credit Hours Introduction: John Hilston earned a B.S. in Industrial Management from Grove City (PA) College (1996). At Grove City, he studied under G. Dirk Mateer and Walter E. Williams. After graduating from Grove City, John worked as a Project Engineer, Real Estate Tax Specialist, and Insurance Statistical Analyst. While working in these various positions, he earned an M.A. in Economics from Cleveland State University (1998). After teaching Economics part-time for a year, John decided to make this interest his full-time career. He taught for two years at six different Cleveland/Akron, OH, area institutions. For the next 3+ years, John was an Economics Professor at Seminole State College in Sanford, FL. He is presently a Professor of Economics at Eastern Florida State College in Palm Bay, FL. John completed his Ed.D in Educational Leadership at University of Central Florida in Orlando, FL (2010). His academic interests include history, the economics of public policy, and college faculty political diversity. In his spare time, John enjoys cheering for his beloved Cleveland and Ohio sports teams, traveling (he has been to fifty state capitols and sixteen countries), and rooting...
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...Date: [2/23/2012] To: Lead Economist Laura From: [Tony Randall] Subject: Final Project Paper After completing this course in Microeconomics, I have learned quite a few things about this subject. It is my hope that what I have learned can be relayed to others and be beneficial to whoever decides to take this subject. I have learned how our economy works on a small scale and a large scale. There are many different kinds of economies in our world and each have an important role for running their respective countries. The first is the Centrally planned economy in which the government of that respective country decides how economic resources will be allocated. The second economy is a market economy in which the decisions of households and firms interacting in markets allocate economic resource. The third and final in the mixed economy in which most economic decisions come from buyers and sellers in markets but where the government plays a major role in allocating resources. our economy is slightly a mixed one .(Hubbard,R& O Brian,A, 2009) Supply and demand is one of the most basic Ideas of economics and it is the core of the market economy. Demand simply means how of a product or service is wanted by a consumer. The quantity demanded is the amount that people are willing to buy at a given cost. Supply represents how much the market can offer. The quantity supplied refers to the amount of a certain good producers are willing to supply when receiving a certain...
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