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Article Analysis for Trends in Consumption Patterns
Using the Internet, and/or other sources of literature, locate an article concerning trends in consumption patterns. Prepare a 1,050-1,400-word paper in which you:
a. Define economicsb. Define microeconomicsc. Define the Law of supplyd. Define the Law of demande. Identify the factors that lead to a change in supply and a change in demand
Analyze the basis for the trends in consumption patterns as discussed in the article. In your analysis, consider the utility derived from the products mentioned in the article, describe what has occurred to change the demand for, or the supply of, the good or service, and market prices of those products or services.
Mmachines of Newspaper vending are designed so that once you have paid for one paper; you could take more than one paper at a time.
Making dresses is a labour-intensive process. Indeed, the production function of a dress-making firm is well described by the equation Q = L - L 2 /800, where Q denotes the number of dresses per week and L is the number of labour-hours per week.
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On the other hand, you might also analyze in detail the effects of higher unemployment among a business cycle downturn.
Compute the income elasticity of demand for product below, by using average values for quantities and incomes.
What is value added in every sector also what is total output for the economy.
Illustrate what are some of the considerations in term of opportunity costs that you would have to include in arriving at your decision?
Suppose that a perfectly equal distribution of income existed in Disneyland. Which of the reccent residents would have the same income he or she has in present distribution?
If increased government spending and tax cuts were equally effective in stimulating aggregate demand, which fiscal tool would you select? Why?
Illustrate What would happen if prices were lowered when demand was inelastic
Customer demand for gasoline changes when the price of gasoline falls.
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