Category: Economics

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Instructions
Chapter 6
Refer to the section on “Calculating the Price Elasticity of Demand”. Review the formula for calculating price elasticity of demand and work out the following problem:
A number of retail stores in San Diego form a “District”. In that district, a popular brand of lady’s handbag was selling at $400.00 per bag. In one week, the combined sale in the district was 200. The District Manager then declared a sale of 25% on the handbags. As a result, sale of the handbags increased to 550 in the following week.
Calculate price elasticity of demand. (Use the following formula: Elasticity =(Change in quantity demanded/Average quantity)/(Change in price/Average price)
What does the coefficient of elasticity indicate? Explain your answer.
A recent study determined the following elasticities for Volkswagen Beetles:
Price elasticity of demand = 2
Income elasticity of demand = 1.5
Based on this information, answer the following questions:
What will happen if the price of Volkswagen Beetles is reduced by 10%?
What will happen to the price and quantity of Beetles if consumer income increases?
Chapter 9
Define the following with appropriate examples. You will not receive any point if you do not provide example of each of the definitions.
Constant marginal cost
Implicit cost
Risk aversion
Sunk cost
Optimal quantity
Chapter 10
Fill in the gap:
(a) If good X is cheaper than good Y, and a consumer decides to consume more of good X and less of good Y, the effect is known as —- effect.
(b) If the price of a good goes down and, a consumer decides to consume more of that good, the effect is known as ——– effect.
(c) If a consumer’s income goes up and the consumer consumes less of good M, good M is known as —— good.
(d) A consumer’s budget line assumes that the consumer spends —– of their income.
Chapter 11
Complete the following Table:
This table has four columns which include Quantity (Q), Fixed Cost (FC), Variable Cost (VC), Total Cost (TC = FC + VC) and Marginal Cost (MC = Change in T times C divided by the change in Q. Under Column one (Quantity), there are 11 rows labeled 0 through 10. Under column two, the first row is $108. Under the third column (Variable Cost), the rows go in the following order: 0, 12, 48, 108, 192, 300, 432, 588, 768, 972, 1200). There is no information under Total Cost and Marginal Cost.

Instructions
Step 1: Watch Video Recording.
In your assignment submission, clearly state which meeting recording you watched.
Example: “I watched the Meeting Recording on the topic of “International Trade”.”
Step 2: Respond to a Specific Question.
Select 1 of the following questions to respond to:
What did you find most interesting about the meeting?
What did you find most relevant to your daily life about the meeting?
What would you like to learn more about related to the meeting topic?
What did you find perplexing or challenging about the meeting topic?
Step 3: Clearly State your Question.
Be sure to clearly state this question in your assignment submission.
Using a question provided in the prior step, or a question that you ask yourself, be sure to clearly state this question in your assignment submission.
Step 4: Answer Question with 4 Sentences.
Write at least 4 sentences answering the question you selected.
Submission Template
To help you get started, below is the text outline. You can copy and paste this text to help organize your assignment submission.
### Start Copy and Paste ###
Meeting
[Declare the following statement:]
I watched the recording on [Topic].Example: “I watched the Meeting Recording on the topic of “International Trade”.”
Question
[Choose 1 of the 4 questions below to answer.]
What did you find most interesting about the meeting?
What did you find most relevant to your daily life about the meeting?
What would you like to learn more about related to the meeting topic?
What did you find perplexing or challenging about the meeting topic?
Response to Question
Sentence 1.
Sentence 2.
Sentence 3.
Sentence 4.
### End Copy and Paste ###
Frequently Asked Questions
Why don’t you have real-time online lectures?
I don’t host real-time online lectures because our course is fully asynchronous online. Fully asynchronous online means there is no fixed day and time each week that we are required to meet online.
Are these video recordings from a prior semester?
Yes, these are video recordings of real-time online lectures from my Spring 2022 ECON 121 Principles of Microeconomics course.
Can I schedule an appointment with you to discuss the video recording?
Yes, if you still have questions about concepts after watching the video recording, please feel free to schedule an appointment with me at www.ipolisci.com/appointmentLinks to an external site.. I am happy to chat with you in real-time online to answer questions, clarify concepts, and help you.

Assignment due Monday, April 22, 2024 by 11:00pm
Overview
This assignment is a short, individual reflective essay (800-1000 words) that documents your learning experiences during the _Econland _simulation game. The main aim of the assignment is for you to apply your knowledge of monetary and fiscal policies in an authentic context, so you can think through how various policy decisions will impact aggregate demand (AD) and aggregate supply (AS) and how, in turn, changes in AD and AS affect real GDP and the general level of prices.
Game link: https://hbsp.harvard.edu/import/1142038
Email: 202114633@zu.ac.ae
Password: Economics12# (Capital E)
Guide to the assignment
The aim of assignment 2 is to help you apply your knowledge regarding monetary and fiscal policies in a real-world context. You will experience a simulation game, where you make policy decisions regarding monetary policy. Once you finish the case (you can play as many rounds as you want, but make sure you try all possible available monetary and fiscal policies), you need to write a reflective essay that answers the following questions. You should incorporate AD/AS graphs and screenshots into all your responses.
1- How do you better control inflation: through monetary policy, or through fiscal policy? Why do you think this is the case? (200 words).
2- Which policy has a stronger effect on growth: monetary policy or fiscal policy? Why do you think this is the case? Which fiscal instrument(s) have a stronger effect compared to others? Are those results in line with your expectations? (200 words).
3- When you want to consolidate the budget, which one is more effective: cutting expenditures or increasing taxes? Is this what you expected? (200 words).
4- Do you expect any differences in the effect on the economy of corporate and income taxes? Why or why not? Which one affects aggregate demand, and which one affects aggregate supply?
5- Reflection: Do you have any additional insights? If you were the Minister of Economy, which policies would you recommend and why? (200 words).
1. https://mru.org/courses/principles-economics-macroeconomics/introduction-business-cycle-fluctuations2. https://mru.org/courses/principles-economics-macroeconomics/business-fluctuations-aggregate-demand-curve
3. https://mru.org/courses/principles-economics-macroeconomics/business-fluctuations-long-run-aggregate-supply-curve
4. https://mru.org/courses/principles-economics-macroeconomics/unemployment-sticky-wages
5. https://mru.org/courses/principles-economics-macroeconomics/business-fluctuations-short-run-aggregate-supply-curve – In this video particularly focus on the “Adjustment Process”, i.e. how does the economy move from points A to B to C as the economy adjust to changes in Aggregate Demand. Also, remember the statement by economist Keynes.
6. https://mru.org/courses/principles-economics-macroeconomics/velocity-aggregate-demand – As you watch this, note that apart from changes in Money Supply, changes in velocity can also change AD. Change in AD due to M is usually more permanent. Change in AD due to V is usually temporary (mostly driven by consumer confidence).
You can find the grading rubric for this assignment (here).
Assignment Information
Length:800-1000 words
Weight:
15%
Learning Outcomes Added
LO1_DefineEconomics: Define the concepts, theories, and models used in economic analysis.
LO3_RealWorldEcons: Use an economic way of thinking to analyze real-world issues in various business contexts and social settings, applying accepted ethical standards.
LO4_PublicPolicies: Evaluate, critically, public policies that aim to deliver social and economic stability.

Current e-commerce businesses: (choose one) my choice is number 2 2. https://eyewa.com please see the pdf and follow the instructor answer in the same pdf theres too one for answer one for how to do it
answer in the Group # – CRN – ECOM 101 – Part A (3).docx pdf

I want someone to read and review my English writing, correct any grammatical mistakes, and reorganize paragraphs and references if needed.
.

Instructions will be uploaded later.
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The order was placed through a short procedure (customer skipped some order details).
Please clarify some paper details before starting to work on the order.

Type of paper and subject
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Write a rebuttal post to the following: Now that you have researched, written and reflected on all three of your major research questions/topics, what is your favorite topic and why? How has your perspective changed on each of those research questions/topics? Would you now reframe the questions and make them more focused? Please cite from the research you have already compiled for each research question/topic.
700 words, 5 scholarly citations (I’ve attached the three major research papers) Montary policy was my favorite topic

Course Project PresentationIntroduction/Background
Change analysis summary
Determining the change summary
Communicating the change summary
Presentation quality
Verbal presentation quality
Presentation GuidelinesA. Ten to 12 minutes (maximum) are allocated for the presentation.
B. No more than 10 slides are allowed in the final oral presentation. Do not embed any video files, audio files, or animated graphics, due to the limitations of the Canvas LMS.
C. Ensure that your presentation contains audio.

Course Project PresentationIntroduction/Background
Change analysis summary
Determining the change summary
Communicating the change summary
Presentation quality
Verbal presentation quality
Presentation GuidelinesA. Ten to 12 minutes (maximum) are allocated for the presentation.
B. No more than 10 slides are allowed in the final oral presentation. Do not embed any video files, audio files, or animated graphics, due to the limitations of the Canvas LMS.
C. Ensure that your presentation contains audio.

Please adhere to the attached requirements.
Use the attached slide for the presentation.
I have attached the instructor’s slides for your further information.