ECO 101 ASSIGNMENT 1
Assignment 1: Analyzing Supply and Demand
Select a good or service with which you are familiar.
Write a three to four (3-4) page paper in which you:
1. Explain how changes in two (2) factors that affect the supply of your good (e.g., input costs, number of suppliers) affect the equilibrium quantity and price of your good or service in the market.
2. Discuss the characteristics of your good (e.g., is your good a necessity or luxury?) and determine if the good or service you have chosen exhibits elastic, inelastic, or unitary elastic demand. Justify your answer.
3. Suppose that the government decides to introduce a price floor in the market. Discuss what will happen to the quantity of the good in your market, who would benefit, and who would lose from the decision to implement a price floor.
4. Include three (3) external peer-reviewed sources to support your position.
The specific course learning outcomes associated with this assignment are:
Discuss the concepts of supply and demand, and consumer choice theory as they relate to current economic issues.
Discuss methods of price determination, elasticity, and utility analysis.
Use technology and information resources to research issues in microeconomics.
Write clearly and concisely about microeconomics using proper writing mechanics.
PLEASE USE AS A GUIDE OR REWRITE IT
Why Work With StudyAcer
Quality Researched Papers
We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.
We have hired a team of professional writers experienced in academic and business writing. Most of them are native speakers and PhD holders able to take care of any assignment you need help with.
If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account.
All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. We will always strive to deliver on time.
Original & Confidential
We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text.
24/7 Customer Support
Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.
Try it now!
How it works?
Follow these simple steps to get your paper done
Place your order
Fill in the order form and provide all details of your assignment.
Proceed with the payment
Choose the payment system that suits you most.
Receive the final file
Once your paper is ready, we will email it to you.
No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.
No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.
An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.
Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.
If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied.