Unit II Essay Elasticity Unit I introduced the benefits of markets to improving outcomes for producers and consumers. Unit II examined the role of costs an

Unit II Essay Elasticity Unit I introduced the benefits of markets to improving outcomes for producers and consumers. Unit II examined the role of costs and prices in decision-making. 

For this assignment, you will answer a series of questions in the form of an essay. Support your answers with research from at least three peer-reviewed journal articles using the Online Library (or other sources). 

1. Research elasticity information for two particular goods: one with an elastic demand and one with an inelastic demand. Using elasticity information you gather, predict changes in demand. The United States Department of Agriculture website has a good resource to help with this. 

2. Describe how marginal analysis, by avoiding sunk costs, leads to better pricing decisions. 

3. Explain the importance of opportunity costs to decision-making and how opportunity costs lead to trade. 

4. Evaluate how better business decisions can benefit not just the producer but the consumer and society as a whole. 

In your evaluation, contrast the deontology and consequentialism approaches to ethics. Your essay must be at least three pages in length (not counting the title and references pages) and include at least three peer-reviewed resources. Adhere to APA Style when writing your essay, including citations and references for sources used. Be sure to include an introduction. Please note that no abstract is needed.

Share This Post

Email
WhatsApp
Facebook
Twitter
LinkedIn
Pinterest
Reddit

Order a Similar Paper and get 15% Discount on your First Order

Related Questions

Develop a 7-page marketing plan based on research promotion, pricing, distribution, advertising, and product mix. Collapse AllIntroduction Completion of

Develop a 7-page marketing plan based on research promotion, pricing, distribution, advertising, and product mix. Collapse AllIntroduction Completion of this portfolio work project will help you understand the key components of a marketing plan. Scenario The Vice President of Marketing at MSH Brands (or at your employer or future employer company) has

DEVELOPING A RESEARCH FRAMEWORK ASSIGNMENT INSTRUCTIONSOVERVIEWThe problem frame is the cornerstone or foundation upon which credible and robustresearch

DEVELOPING A RESEARCH FRAMEWORK ASSIGNMENT INSTRUCTIONSOVERVIEWThe problem frame is the cornerstone or foundation upon which credible and robustresearch is built. It provides the significance and justification for designing andconducting a research effort to expand knowledge or even replicate or challenge findingsin the existing body of scholarly peer reviewed research.Unless a

Create an 8–12-slide PowerPoint presentation that summarizes the AFI Framework and the results of the internal and external analyses. Your presentation

Create an 8–12-slide PowerPoint presentation that summarizes the AFI Framework and the results of the internal and external analyses. Your presentation must also include a SWOT matrix for the company and your recommendations for strategies to move the company forward that align with organizational structure and governance, and reflect ethical

Prepare a 7–10-page business analysis that explains the generic business strategies for an organization, analyzes the business strategy used and the

Prepare a 7–10-page business analysis that explains the generic business strategies for an organization, analyzes the business strategy used and the company’s business model, analyzes the corporate strategy of the company and the overall corporate structure and management systems, and analyzes the strategic fit between the business and corporate strategies.