Assignment 1Resources: Principles of Microeconomics, Ch. 1,

Assignment 1Resources: Principles of Microeconomics, Ch. 1,.
Assignment 1Resources: Principles of Microeconomics, Ch. 1, 2, 3, 4, and 6. Prepare an 875-word research paper as part of a marketing research committee for your organization about current microeconomic thought and theory. Identify the fundamental lessons the Ten Principles of Economics teaches regarding: How people make decisions How people interact How the economy works as a whole Explain the following to help the committee members understand how markets work: How society manages its scarce resources and benefits from economic interdependence. Why the demand curve slopes downward and the supply curve slopes upward. o Where the point of equilibrium is and what does it determine? The impact of price controls, taxes, and elasticity on changes in supply, demand and equilibrium prices.Format consistent with APA guidelines. Assignment 2Scenario: Imagine you have been assigned the responsibility of preparing a paper for the governor s next economic conference. Prepare a 1,050-word paper addressing the following: Explain why equilibrium of supply and demand is desirable. Explain the following concepts using the concept of consumer and producer surplus: o Efficiency of marketso Costs of taxationo Benefits of international trade Discuss how externalities may prevent market equilibrium and the various governments policies used to remedy the inefficiencies in markets caused by externalities. Analyze the difference between the efficiency of a tax system and the equity of a tax system as it refers to the costs imposed on taxpayers using the benefits principles. Cite a minimum of three peer-reviewed sources, not including your textbook. Format consistent with APA guidelines. Assignment 3Scenario: You have been given the responsibility of working with your organization s CEO to do a competitive market analysis of the potential success of one of their existing products. Research an organization and a product produced by that organization in which an analysis can be conducted. Write a 1,750-word analysis of the current market conditions facing your product, making sure you address the following topics: Define the type of market in which your selected product will compete, along with an analysis of competitors and customers. Analyze any comparative advantages and international trade opportunities. Explain the factors that will affect demand, supply, and prices of that product. Examine factors that will affect Total Revenue, including but not limited to: o Price elasticity of demando Factors that influence productivityo Various measures of costs, including opportunity costso Externalities and government public policy and their effect on marginal revenue and marginal cost Recommend how your organization can maximize their profit-making potential and increase their presence within the market served by the product. Cite a minimum of three peer-reviewed sources from the University Library. Format your paper consistent with APA guidelines. Assignment 4Scenario: You have been asked to assist your organization s marketing department to better understand how consumers make economic decisions. Write a 1,050-word analysis including the following: The impact the theory of consumer choice has on: o Demand curveso Higher wageso Higher interest rates The role asymmetric information has in many economic transactions. The Condorcet Paradox and Arrow s Impossibility Theorem in the political economy. People are not rational in behavior economics. Cite a minimum of three peer-reviewed sources not including your textbook. Format your paper consistent with APA guidelines.
Assignment 1Resources: Principles of Microeconomics, Ch. 1,