Order Instructions
Elasticity
Instructions
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 listed in reference material (or other sources to include 3 peer-reviewed resources).
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.
//////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////
• Must be three pages in length (not counting the title and references pages) and include three peer-reviewed resources.
• Adhere to APA 7th Style formatting, to include citations and references for sources used. SAMPLE APA PAPER PROVIDED IN REFERENCE MATERIAL.
• Be sure to include an introduction.
• Please note that no abstract is needed.
//////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////
Reference List: Use the (3) peer-reviewed articles provided below also included in the reference material files.
1. Weiss, L., & Kivetz, R. (2019). Opportunity Cost Overestimation. Journal of Marketing Research (JMR), 56(3), 518–533.
2. The Labor Theory of Value: A Marginal Analysis. (2014). World Review of Political Economy, 5(2), 231–257.
3. Micewski, E. R., & Troy, C. (2007). Business Ethics: Deontologically Revisited. Journal of Business Ethics, 72(1), 17–25.
//////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////
Course textbook for reference:
Froeb, L. M., McCann, B. T., & Ward, M. R. (2017). Managerial Economics (5th ed.). Cengage Learning US. https://online.vitalsource.com/books/9781337468015
//////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////
Please consider reviewing:
https://corporatefinanceinstitute.com/resources/knowledge/modeling/break-even-analysis/
and
https://www.investopedia.com/terms/d/demand-elasticity.asp.
Interested in getting help with this assignment?
Get a professional writing team to work on your assignment!
Order Now
Recent postsFor this final assignment, you will prepare a brief paper detailing the steps undertaken to complete a presentation that disseminates information you assemble
Please choose to answer only one of the 2 following questions. Option 1: In your opinion and based on scientific, peer-reviewed published evidence, does child
At the beginning of the previous academic year, the institution announced it would drop football at the conclusion of the season. The announcement created pub
you will review current research in Personality and provide a critical evaluation of that personality research through an annotated bibliography. An annotated
In Module 5, we considered the third in our three-part series on research design. Specifically, the focus was on the longitudinal studies, in which the resear
Need help with a similar or different Task?
We have the best writers to help you. Hire Writer Now
