Microeconomics Econ Brief
Please answer the following question(s). To earn full points on this assignment submissions should
include a well written response that clearly and concisely addresses and answers all parts of the
question(s). Please use APA formatting, however please note your written response alone should be 2-4
pages doubled spaced typed (excluding title, header, name, page numbers etc.). Please cite references
used in both the written response and a separate reference page. Please create and provide at least one
original graph, I suggest hand drawing and submitting any graph(s) on paper for the brief assignment.
However, if you create any graph(s) using software, please put a note under each graph that you create,
saying that you created it and please state what software you used, so I know the graph is original.
Include any graphs or charts at the end of your written response and refer to them in the text. Make
sure you answer the topic question(s) from an economic perspective. Briefs need to be submitted
through Dropbox in D2L under the appropriate folder by the deadline listed above; briefs submitted late
will be accepted up to 24 hours after the deadline listed above and will only be worth a maximum of 105
points out of 150.
Brief situation and question:
\uf0b7
Assume in a simple example that two changes occur simultaneously in an economy which
produces \u201cGood X\u201d.
\uf0b7
The economic changes that occurs in the market are: 1) An increase in the cost to produce
\u201cGood X\u201d, and 2) An increase in income for consumers who purchase \u201cGood X\u201d.
\uf0b7
Assume that this is a competitive market, what will happen to the
market selling price
and the
market quantity
that is bought and sold in the market for \u201cGood X\u201d?
\uf0b7
Finally, please cite an example from the news of a current event in real life that relates to the
one of the economic changes occurring (i.e. an increase in the number of consumers in the
market or an increase in the number of sellers\/buyers in the market) affecting \u201cGood X\u201d above,
and be sure to
explain why
it relates.
Use supply and demand analysis to demonstrate your answer and be sure to provide the rationale
behind what is happening and also discuss any interesting observations or outcomes. (Note, that the
magnitudes of any supply and\/or demand shifts in this example are not specified, so you may want to
consider all possible scenarios <\/p>\n","protected":false},"excerpt":{"rendered":"
Microeconomics Econ Brief Please answer the following question(s). To earn full points on this assignment submissions should include a well written response that clearly and concisely addresses and answers all parts of the question(s). Please use APA formatting, however please note your written response alone should be 2-4 pages doubled spaced typed (excluding title, header, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[22],"class_list":["post-68857","post","type-post","status-publish","format-standard","hentry","category-research-paper-writing","tag-economics"],"_links":{"self":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/posts\/68857","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/comments?post=68857"}],"version-history":[{"count":0,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/posts\/68857\/revisions"}],"wp:attachment":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/media?parent=68857"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/categories?post=68857"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/tags?post=68857"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}