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ECO Week Eco 365 Ten Principles of Economics and How Markets Work As part of a marketing research committee for your organization, you have been assigned the task of preparing a word research paper about current microeconomic thought and theory. How society manages its scarce resources and benefits from economic interdependence Why the demand curve slopes downward and the supply curve slopes upward Where is the point of equilibrium and what does it determine?
Your paper should address the following: Explain why equilibrium of supply and demand is desirable. Explain the following concepts using the concept of consumer and producer surplus: Efficiency of markets Costs of Eco 365 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.
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: Price elasticity of demand Various measures of costs, including opportunity costs 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.
Purpose of Assignment The purpose of this assignment is so students may look at the microeconomic data and other sources for better understanding of trends and determinants of the labor market.
We will look at the microeconomic data and other sources for better understanding of trends and determinants of the labor market. The Bureau of Labor Statistics BLS website provides public with an easy access to different statistical tools and different types of data presentation.
Goods-producing Employment — CESWelcome to our collection of ECO Principles of Microeconomics tutoring materials. All assignment and final exam tutorials are % accurate .
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Running head: DIFFERENTIATING BETWEEN MARKET STRUCTURES 1 Differentiating Between Market Structures Laura Goffney ECO October 13, Christopher Rakovalis 2 DIFFERENTIATING BETWEEN MARKET STRUCTURES Differentiating Between Market Structures There are many advantages of the supply and demand.
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