Reference no: EM133575619
Select at least two news articles that discuss the demand, supply, and equilibrium price of two substitute products, like beef and chicken; butter, and margarine. It can be two articles that discuss both products, or one article about one product and another article about another product.
At least one news article should be dated within the previous two months.
Refer to week 2 content materials and use specific economic vocabulary within your
discussion, i.e.
Demand for one product:
o Quantity demanded,
o Determinantsofdemand,
o Shiftsindemandcurve,etc.
Demand for another product: o Quantity demanded,
o Determinantsofdemand,
o Shiftsindemandcurve,etc.
Supply for one product
o Quantity supplied,
o Determinantsofsupply,
o Shiftsinsupplycurve,etc.
Supply for another product o Quantity supplied,
o Determinantsofsupply,
o Shiftsinsupplycurve,etc.
Changes in equilibrium quantity and equilibrium price for one product
Changes in equilibrium quantity and equilibrium price for another product
The articles you choose may not use these exact terms; therefore, it is incumbent upon you to convert the article language into economic language as is appropriate.
Abstract (0.5 of a page) - the short description of the concepts, problems, questions
discussed in the Short paper.
2. Introduction (0.5 of a page) (optional)
3. Discussion (about 2-3 pages) - Your task for this part of the Short paper is to analyze the
issue described in the articles using the economic concepts and theory learned in this class. Refer to the course content materials of week 2 and use specific economic vocabulary within your term paper. The articles you choose may not use these exact terms; therefore, it is incumbent upon you to convert the article language into economic language as is appropriate.
Create at least one graph that shows the demand curve, the supply curve, shifts in demand and/or supply curve, changes in equilibrium quantity and equilibrium price, price ceilings and/or price floors. You don't need to look for any statistical data regarding quantities or prices for the product.
4. Conclusion (0.5 of a page)
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