Categories
Economics

Answer following questions: 1. Do you think like an economist? 2. What do you le

Answer following questions:
1. Do you think like an economist?
2. What do you learn from this article?
In order to get full credit, you need to answer question fully and no less than 100 words.
https://www.latimes.com/opinion/op-ed/la-oe-0903-nisbett-sunk-cost-20150903-story.html#null

Categories
Economics

Your Discussion Assignment: Your initial post for this discussion you should dis

Your Discussion Assignment:
Your initial post for this discussion you should discuss the differences between accounting profit and economic profit. What does it mean when a company makes zero accounting profit? What does it mean when a company makes zero economic profit?
***THIS DISCUSSION BOARD WILL REQUIRE A CITATION SINCE YOU ARE DEFINING TERMS!!!

Categories
Economics

Read: Chapters 3 and 5 of the textbook ‘Principles of Economics’ [Attachments ar

Read:
Chapters 3 and 5 of the textbook ‘Principles of Economics’ [Attachments are below]
Chapters 2 and 3 of the textbook ‘Introduction to Economic Analysis’ (pp. 13-31) [Attachment is below]
Watch:
Khan Academy. (2012, January 2). Market equilibrium | Supply, demand, and market equilibrium | Microeconomics | Khan Academy [Video]. YouTube. https://youtu.be/PEMkfgrifDw
Khan Academy. (2018, November 15). Introduction to price elasticity of demand | APⓇ Microeconomics | Khan Academy [Video]. YouTube. https://youtu.be/FBWJYH8DZ1g
Khan Academy. (2018, November 16). Introduction to price elasticity of supply | APⓇ Microeconomics | Khan Academy [Video]. YouTube. https://youtu.be/wi1x3sYHU6I
For ESSAY:
Suppose you are the manager of a restaurant that serves an average of 400 meals per day at an average price per meal of $20. On the basis of a survey, you have determined that reducing the price of an average meal to $18 would increase the quantity demanded to 450 per day.
1. Compute the price elasticity of demand between these two points.
2. Would you expect total revenues to rise or fall? Explain.
3. Suppose you have reduced the average price of a meal to $18 and are considering a further reduction to $16. Another survey shows that the quantity demanded of meals will increase from 450 to 500 per day. Compute the price elasticity of demand between these two points.
4. Would you expect total revenue to rise or fall as a result of this second price reduction? Explain.
5. Compute total revenue at the three meal prices. Do these totals confirm your answers in (b) and (d) above?
Note: Be sure to use in-text citations and provide references for your sources, including textbooks.

Categories
Economics

QUESTION 1 1. Let’s assume that before international trade opens up, Russia is a

QUESTION 1
1. Let’s assume that before international trade opens up, Russia is at a point on its production possibility curve (PPC) where it produces 40 apples and 40 computers. Once trade opens up, the price of a computer becomes two apples. In response, Russia moves along its PPC to a new point where it is producing 50 computers and 20 apples. Is Russia now better off? Explain by providing numerical justification.
Show all your calculations step by step on how to reach your solutions; a single numeric answer will not be given any credit.
Your response must be at least 200 words in length
QUESTION 2
1. Let’s assume that France receives an inflow of foreign direct investment (FDI). Additionally, suppose that labor and capital are used in the production of wheat and computers. Suppose that computers are capital intensive as compared with wheat. Using the long-run specific-factors model, explain what happens to the output of each good by providing the numerical justification.
Your response must be at least 200 words in length.
QUESTION 3
1. Let’s assume that there are two countries (United Kingdom and France), two goods (machines and food), and two factors of production (skilled labor and unskilled labor). Also, suppose that the United Kingdom is skilled-labor abundant while France is unskilled-labor abundant. Assume further that machines are skilled-labor intensive and food is unskilled-labor intensive. What will happen to the wage of skilled labor relative to the wage of unskilled labor in each country by using the the short-run specific-factors model? Explain.
Your response must be at least 200 words in length.
QUESTION 4
Suppose that the United Kingdom and the United States have the factor endowments given in the table below:
UK USA
Capital 60 computers 10 computers
Labor 300 workers 100 workers
Suppose further that the production requirements for a unit of manufacturing goods is two machines and eight workers, and the requirement for a unit of agricultural goods is one machine and eight workers.
Which good, manufacturing or agricultural, is relatively intensive in the use of capital? In labor? Show how you know; numerical justification is required. Which country would export agricultural goods? Why?
Show all your calculations step by step on how to reach your solutions; a single numeric answer will not be given any credit.
Your response must be at least 200 words in length.
See attachment

Categories
Economics

This first paper assignment consists of two (2) essays which should be saved and

This first paper assignment consists of two (2) essays which should be saved and submitted as a single MS Word or PDF file document format document (double-spaced). The entire paper (total) should encompass a full five (5) pages, double-spaced.
1. (2 – 3 pages) Select any American current event, firm, or market occurring during this quarter (and not covered by Discussions) to analyze. Apply the related microeconomics which can be derived from our course content by using your own critical thinking perspectives and meaningful analysis.
2. (2 – 3 pages) Select any non-American (foreign outside of the United States) current event, firm or market occurring this quarter and do the same through your own microeconomic analysis. In each paragraph apply as many of the micro-economic principles & concepts from the course which are relevant and applicable to your topic. Include your underlined thesis statement and conclusion in both essays!
No references nor internet sources are necessary, as this work is entirely based on your own critical thinking and ability to apply / interpret what you have learned so far from the course (may be written in an informal format style). If your idea comes from a source, avoid summarizing and emphasize your own economic analysis & individual perspectives. [Please make sure that your choice of current event is not one already covered / duplicated in any of the Discussions already covered!] You need choose your own. So make sure to be current during this quarter & creative.
Suggested Steps: (1) Begin your essays and underline a meaningful thesis statement in the first paragraph of both essays, to describe the main idea and purpose of your analysis. (2) Then in each succeeding paragraph, describe as many separate microeconomic concepts or theories from the text book which apply to your chosen topic and explain their relevance. (3) In the final paragraph, develop a meaningful conclusion which you can draw from the topic. The best papers will integrate the course material effectively with your choice of events / firms / or markets for each of the two essays…

Categories
Economics

Research problem : Analysing the role of colonialism in shaping the current econ

Research problem :
Analysing the role of colonialism in shaping the current economic landscape of Africa and exploring whether or not colonialism as whole a had a positive or negative impact on the development of Africa since independence
Please see Dissetation content plan document
Attached are several documents:
– Structure
-Dissetation content plan
-marking scheme
– Literature review
i will add some more mainly data sheets in excel format as i find them
-page of content needed
– word count MUST not exceed 8,800 words
– Literature review i wrote, please make it more coherent if need and and blend it into report.
– research methods have detailed, i will be looking for data alongside you and will upload data as i find them.
The overall bias of dissertation is that colonialism has had an overall negative impact on the development of african countries.
The 6 countries to look at mainly are:
Algeria
Senegal
Ivory Coast
Ghana
Nigeria
Kenya

Categories
Economics

This first paper assignment consists of two (2) essays which should be saved and

This first paper assignment consists of two (2) essays which should be saved and submitted as a single MS Word or PDF file document format document (double-spaced). The entire paper (total) should encompass a full five (5) pages, double-spaced.
1. (2 – 3 pages) Select any American current event, firm, or market occurring during this quarter (and not covered by Discussions) to analyze. Apply the related microeconomics which can be derived from our course content by using your own critical thinking perspectives and meaningful analysis.
2. (2 – 3 pages) Select any non-American (foreign outside of the United States) current event, firm or market occurring this quarter and do the same through your own microeconomic analysis. In each paragraph apply as many of the micro-economic principles & concepts from the course which are relevant and applicable to your topic. Include your underlined thesis statement and conclusion in both essays!
No references nor internet sources are necessary, as this work is entirely based on your own critical thinking and ability to apply / interpret what you have learned so far from the course (may be written in an informal format style). If your idea comes from a source, avoid summarizing and emphasize your own economic analysis & individual perspectives. [Please make sure that your choice of current event is not one already covered / duplicated in any of the Discussions already covered!] You need choose your own. So make sure to be current during this quarter & creative.
Suggested Steps: (1) Begin your essays and underline a meaningful thesis statement in the first paragraph of both essays, to describe the main idea and purpose of your analysis. (2) Then in each succeeding paragraph, describe as many separate microeconomic concepts or theories from the text book which apply to your chosen topic and explain their relevance. (3) In the final paragraph, develop a meaningful conclusion which you can draw from the topic. The best papers will integrate the course material effectively with your choice of events / firms / or markets for each of the two essays…

Categories
Economics

Research problem : Analysing the role of colonialism in shaping the current econ

Research problem :
Analysing the role of colonialism in shaping the current economic landscape of Africa and exploring whether or not colonialism as whole a had a positive or negative impact on the development of Africa since independence
Please see Dissetation content plan document
Attached are several documents:
– Structure
-Dissetation content plan
-marking scheme
– Literature review
i will add some more mainly data sheets in excel format as i find them
-page of content needed
– word count MUST not exceed 8,800 words
– Literature review i wrote, please make it more coherent if need and and blend it into report.
– research methods have detailed, i will be looking for data alongside you and will upload data as i find them.
The overall bias of dissertation is that colonialism has had an overall negative impact on the development of african countries.
The 6 countries to look at mainly are:
Algeria
Senegal
Ivory Coast
Ghana
Nigeria
Kenya

Categories
Economics

Identify and research an economic theorist or theory. Explain the theory and th

Identify and research an economic theorist or theory.
Explain the theory and the impact it has.
How it helps explain current economic systems’ practices.
Also many theorists’ works have been added to or built upon by later theorists.
What are these changes and do they help support current economic thought?
Notes:
Feel free to research a Micro- or Macro- economic theorist.
Papers will be submitted to Turnitin.com.
Wikepedia can be a good source for identifying a theorist or theory but can NOT be
used as a reference.

Categories
Economics

Would you rather go to a movie theater with a lot of screens (such as AMC that h

Would you rather go to a movie theater with a lot of screens (such as AMC that has a choice of many different movies in different rooms in the theater) or one with only one screen (with only one option of what movie to watch?) Why or why not? Discuss and defend your answers.
NO SOURCES