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write my assignment 31156

  • Find a news article on the Internet that describes a shift in the supply curve or in the demand curve. The article must be recent (within the last six months), and MUST NOT be from an encyclopedia or reference website that discusses demand and supply. DO NOT use blogs. Use well established business web sites or industry specific web sites.
  • The best articles are about changes in the price and/or sales of a particular product. You then have the opportunity to demonstrate your understanding of supply and demand shifts as you explain the changes in price and quantity experienced by the product you choose.
  • RECOMMENDATION: READ THE SAMPLE PROJECT: Under the Start Here link.
  • Summarize the article. (Do not quote the article, but explain it as if you were telling someone about it. If you do use direct quotes or paraphrases, remember that citations and references are required.)
  • Explain which graph in our collection – A, B, C, or D – illustrates the shift that you identify by describing the change in price and the change in equilibrium quantity (remember the difference between a change in quantity and a change in the position of the curve – these are described in the documents linked above).
  • Some articles may describe a situation where both curves shift. This is not common but it is possible.
  • Do use paragraphs in your post. And do remain focused on what is in the article.
  • Important: This is a Microeconomic course. Do not choose an article discussing Macroeconomic issues: Inflation, unemployment, trade deficit, government budget deficit, etc.

Supply and Demand Guide

To solve the homework problems do the following:

  1. Identify the determinant change
  2. Shift the appropriate curve in the correct direction
  3. Change price appropriately
  4. Move along the other curve (the one that did not shift) in response to the price change.

The following information will tell you the determinants and how the change, as well as definitions of the key terms.

Demand

Demand: The amount that consumers are willing and able to purchase at various prices.

Law of Demand: Price and Quantity Demanded vary inversely.

Quantity Demanded: The amount that consumers are willing and able to buy at a particular price.

Change in Quantity Demanded: Changes in price change the quantity demanded. This is a Movement Along a Demand Curve in Response to a Price Change.

Change in Demand: This is a shift in the position of the demand curve, either upward or downward. If the curve shifts upward, consumers are saying they will pay more for all quantities of the good or service. If it shifts downward, consumers are saying they will pay less for all quantities of the good or service.

Determinants of Demand: The Demand Curve will shift only when one (or more) of the Determinants of Demand changes. These determinants are:

  1. Size of Market:  the number of consumers in the market for the good or service. If this factor increases, the curve shifts upward (increase in demand). If this decreases, the curve shifts downward (decrease in demand).
  1. Consumer Tastes and Preferences: if these shift in favor of a product, the demand curve shifts upward (demand increases); if these shift against a product, the demand curve shifts downward (demand decreases).
  1. Consumer Income: as the income of consumers increase, consumers purchase more of all normal goods (assume all the goods in the homework are normal goods), this shifts the demand curve upward (demand increases); if income decreases, then consumers buy less of all normal goods, this shifts the demand curve downward (demand decreases).
  1. Prices of Related Goods:
  1. Complimentary Goods: These are goods that are used to together like peanut butter and jelly. If the price of peanut butter goes up, the Quantity Demanded of peanut butter will decrease (a movement along a demand curve in response to a price change). However, the Demand for jelly will decline (decrease in demand) as fewer people buy it to go with the peanut butter, since they are buying less peanut butter.
  2. Substitute Goods: These are goods that are used in place of each other. If the price of Coke Cola goes up, the Quantity Demanded of Coke does down (a movement along the demand curve). But the Demand for Pepsi – the substitute good – goes up as people substitute the lower priced Pepsi for the higher priced Coke (the Pepsi demand curve shifts upward).
  1. Expectations about the Future: If people have a positive view of the future they will consumer more and save less. This shifts the demand curve for all normal goods upward. If people have a negative view of the future, they will consume less and save more, this shifts the demand curve for all normal goods downward.

Supply

Supply: The amount that producers are willing and able to bring to market at various prices.

Law of Supply: Price and Quantity Supplied vary directly.

Quantity Supplied: The amount that producers are willing and able to bring to market at a particular price.

Change in Quantity Supply: Changes in price change the quantity supplied. This is a Movement Along a Supply Curve in Response to a Price Change.

Change in Supply: This is a shift in the position of the supply curve, either upward (inward) or downward (outward). If the curve shifts upward, producers are saying they will bring less to market at all prices. If it shifts downward, producers are saying they will bring more to market at all prices.

Determinants of Supply: The Supply Curve will shift only when one (or more) of the Determinants of Supply changes. These determinants are:

  1. Number of Firms in the Industry: If the number of firms in an industry increases, the more the industry can produce – this shifts the supply curve downward (outward) – this is an increase in supply. If the number of firms in an industry decreases, the industry can produce less output – this shifts the supply curve upward (inward) – this is a reduction in supply.
  1. Relative Price of Alternative Outputs: If a firm can produce Product A or Product B with the same resources (inputs), it will produce the product with the higher price. If the price of Product A increases relative to Product B, then the firm will produce more of A and less of B. This causes the Supply Curve for A to shift outward (increase in supply) and the Supply Curve for B to shift upward (decrease in supply).
  1. Costs of Production*: The costs of production is the primary determinant of supply. If the costs of production increase, then supply decreases – the Supply Curve shifts inward (a decrease in supply). If the costs of production decrease, then supply increases – the Supply Curve shifts outward (an increase in supply).
  1. Expectations About the Future: If firms have a positive view of the future, they will increase production which is an increase in supply – the curve shifts outward. If firms have a negative view about the future, they will decrease production and the supply curve will shift upward – a decrease in supply.

* The Costs of Production include:

  • Prices of inputs – the Factors of Production
  • Business Taxes
  • Complying with regulations
  • Less any Subsidies the firm may receive

In equilibrium, the quantity supplied equals the quantity demanded.

Graph A

When one or more of the determinants of demand (see above) change such that the demand for a good increases, that shows that consumers are willing to pay more for all possible quantities of the good. The upward shift in the demand curve causes an increase in price.  Suppliers respond to the higher market price by bringing a greater quantity supplied to market – recall the Law of Supply.  

Graph B

When one or more of the determinants of demand (see above) change such that the demand for that good decreases. The demand curve reflects this by shifting downward, showing the consumers are willing to pay less for all possible quantities of the good. This causes a decrease in price.  Suppliers respond to the price change by bringing a lesser quantity supplied to market – recall the Law of Supply.

Graph C

When one or more of the determinants of supply (see above) change such that the supply for that good increases, the supply curve shifts outward showing that suppliers can bring more product to market at lower prices for all possible quantities. This causes a decrease in price. Demanders will respond to the price change with a greater quantity demanded – recall the Law of Demand.

Graph D

When one or more of the determinants of supply (see above) change such that the supply for that good decreases, the supply curve shifts inward showing the suppliers can bring fewer products to market at higher prices for all possible quantities.  This causes an increase in price, and demanders are willing to buy a lesser quantity demanded – recall the Law of Demand.

 

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write my assignment 10051

Analyze gasoline price hike statistics in the following scenario. In June 2008, the U.S. retail gas price jumped from $3 to $4 a gallon. This is a 33% increase in price from January 2008. During that time, the total quantity of gasoline purchased fell by 3%. Supplies of gasoline produced also decreased from 1 million barrels to 800,000 barrels. No viable substitute has been created to replace gasoline.

In a two-page paper, address the following. Be sure to show your calculations.

Calculate the price elasticity of demand for gasoline.

Calculate the elasticity of supply using the information provided.

Calculate the changes in consumer and producer surplus.

Because there is no viable substitute for gasoline at this time, what can you say about the cross-elasticity and income elasticity of supply and demand for gasoline?

Explain your answer and demonstrate clear, insightful critical thinking. Is the demand for gasoline elastic, inelastic, perfectly elastic or inelastic, or unit elastic?

 

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write my assignment 16710

Assignment -1.

https:// this Above link data set we have to make this assignment.

1. Applying all the code on your selected dataset, complete all codes from Chapter 4

Bivariate Graphs. Make sure you submit to this link two things

1. Your report file showing screenshots of all commands from Rstudio GUI

Make sure you show all Rstudio GUIs

2. Submit your R script code

Due Friday midnight May 29th

By submitting this paper, you agree: (1) that you are submitting your paper to be used and stored as part of the SafeAssign™ services in accordance with the Blackboard Privacy Policy; (2) that your institution may use your paper in accordance with your institution’s policies; and (3) that your use of SafeAssign will be without recourse against Blackboard Inc. and its affiliates.

Assignment-2

Applying all the code on your selected dataset, complete all codes from

Chapter 5 Multivariate Graphs. Make sure you submit to this link two things

1. Your report file showing screenshots of all commands from Rstudio GUI

Make sure you show all Rstudio GUIs

2 Submit your R script code

Due Friday midnight May 29th

By submitting this paper, you agree: (1) that you are submitting your paper to be used and stored as part of the SafeAssign™ services in accordance with the Blackboard Privacy Policy; (2) that your institution may use your paper in accordance with your institution’s policies; and (3) that your use of SafeAssign will be without recourse against Blackboard Inc. and its affiliates.

 

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write my assignment 21475

Hi, I need help with essay on Research : Trip Advisor. Paper must be at least 750 words. Please, no plagiarized work!

Secondly, the paper will highlight on how crowdsourcing can assist travelers to get information and reviews concerning new destinations. Thirdly, the research essay will propose the use of TripAdvisor, which is an online platform where members share information and reviews about hotels, resorts, flights, restaurants, and vacation rentals among others.

Pritchard and Simmonds (1982) lamented that many travelers rely on an ‘inside man’ or locals whenever they are visiting a new destination, thereby limiting their experiences and opportunities to the knowledge of the locals. This not only limits what the travelers might have learnt about the new place but it also makes them prone to exploitation by the locals who might take advantage of them because of their limited knowledge about the new destination. Russell and Cohn (2012) further lament that the locals or contact person usually give information and reviews to the travelers from their own perspective, and it might be biased or false information.

Morrell (2008) in his studies suggested that, it is far much better for travelers to learn about new destinations from others who were also new to the destination and shared their first hand experience of the destination. This enables the traveler to learn about the new destination from the perspective of someone who also once new at the same destination.

According to Estellés and González (2012), crowdsourcing provides an online platform whereby a user can pose a question or problem and then other users or members of the site also known as the crowd can contribute their answers or solutions to the problem. Figure 1 below demonstrates this, whereby the crowd surrounds the red image. The user will have the advantage of obtaining numerous feedbacks that are, worthwhile. Brabham (2008) and Sloane (2011) in their studies describe crowdsourcing as the process whereby

 

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