How the birth dearth saps economic growth

Assignment Help Microeconomics

Reference no: EM13856237 , Length: 4

1. The purpose of this question is to assess your understanding of the concept of price elasticity of demand (Ed). Read and briefly summarize the following articles keeping in mind the formulas of price elasticity of demand (Ed) and the total revenue rule of elasticity (Exhibit 7, Chapter 7) as appropriate. Write out the formula for Ed, and the TR rule. Partially plug data into formulas when available. State whether D is elastic, inelastic or unitarily elastic and clearly state why. Answer the questions for each of the articles.

a. "E-Book Prices Rise, and Sales Suffer," pg. B-1, 9/4/15
b. "Amazon Plans $50 Tablet as Pricier Devices Struggle," pg. B-4, 9/8/15
c. "Diamond Prices Lose Their Shine," pg. C-10, 9/15/15
d. "At Disney, Park Price May Swing with the Seasons," pg. B-4, 10/5/15
e. "The $5 ATM Fee? It's Happening Now," pg. C-1, 10/5/15
f. "Price Increases Drive Drug Firm's Revenue," pg. A-1, 10/6/15

2. Follow the instructions below for the following article:

- Read and briefly summarize the following article and analyze which specific market or government failure is most prevalent from Chapter 5 and the Thumbnail Sketch in Chapter 6 of your text. What policy would you recommend to correct the problem?

"Victims of Tianjin Blast Protest of Compensation," pg. A-6, 9/18/15

- Use the S & D Model to graph the results of the failure relative to an efficient market solution for the article below illustrating external costs and the changes in P & Q. Be sure to identify your market and summarize your results. (See exhibits, Chapter 5.) If costs are not internalized, will the chemicals be over or under produced and priced?

You must create your own original graph: no copies from the text or other books or authors. You must "use" your graph in your answer to receive full credit. Summarize the results of your graph.

3. Summarize the article below then answer the question that follows.

"How the Birth Dearth Saps Economic Growth," pg. A-17, 9/24/15

- Is this article an example of a Public or Private failure? Specify which failure.

Use facts from the article, the "invisible hand concept" and "labor markets" to explain. What is the "failure?" Be specific.

Reference no: EM13856237

Questions Cloud

Determine the optimum level of stockholding for the company : Discuss what you consider to be the most important factors determining the optimum level of stockholding for the company.

Do an economic analysis of coke and pepsi : Do an economic analysis of two giant competitor brands, Coke and Pepsi, in the context of them being rivals in the "Twenty-First Century" and use all the knowledge you have gathered over the last several weeks.

Write a java program that simulate a number of stopwatches : Write a JAVA program that would simulate a number of stopwatches (e.g. 4 stopwatches) times using the concept of Multithreading. The time of stopwatches increase on their own. Moreover, a stopwatch's time can be increased and decreased using speci..

Resources needed for implementation based : Resources Needed For Implementation Based on mock terminations 150 word minimum

How the birth dearth saps economic growth : How the Birth Dearth Saps Economic Growth - Is this article an example of a Public or Private failure

The effects on business performance outcomes : What are your thoughts concerning organizational goodwill and the effects on business performance outcomes?

What advice does fbi provide in protecting computer fraud : What advice does the FBI provide in protecting against computer fraud. Do you feel that the Government is doing sufficient job in this area. Define COBIT and it's control objective. Do you feel the frameowrk is detailed enough to serve your orgni..

What is the purpose of the calculation of the cpi : What is the purpose of the calculation of the CPI?

Explain why an environmental analysis is important : What is the purpose of environmental analysis and what are the implications of environmental analysis in the creation of your strategic plan?

User Account

All Pages