Econ 545 Week 2 Project Part 1

ECON 545 Week 2 Project Part 1

Purchase here

http://devrycourse.com/econ-545-week-2-project-part-1

Product Description

Project Part 1 (PP1) consists of performing application-oriented

exercises wherein the 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:

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 outlined in our book. Be sure to cite any references

used.

Ethical Issues in Business. It seems that every day lately we are confronted with another company

that has acted at least unethically and possibly illegally in the operation and

financial reporting of their company’s business dealings. Briefly discuss one of

these issues and then see if you can relate the issue to ANY of our TCOs. That

is, are there any effects on demand or on supply related to this topic? How

would you expect this to affect the equilibrium price and equilibrium quantity

for this company’s products and services? Is the elasticity of demand or supply

affected? What about the effect on production levels and costs? Are ethical...