Assignment 

A doctoral student has just completed a study for her dissertation  and found the following demand and supply schedules for hand held  computers to be as follows:

Please open attachment

Questions:

1. Using Microsoft Excel, draw a graph illustrating the supply and demand in this market.
2. What is the equilibrium Price and Quantity in the market?
3. Now suppose the government imposes a special tax on these computers.  Describe what would happen in this market in terms of the supply and  demand curve.
4.  Disregard the new tax in part three. Now assume that the government  imposes a price ceiling of $100 in this market, as a result of protests  of price gouging by the sellers. What would happen to the price and  quantity in this market?
5. Disregard the events of part four. Assume that the manufacturers of  this product lobby the government’s lawmakers, in terms of this product  being an essential for college students but they are considering halting  production due to the lack of profits. The lawmakers agree and now set a  price floor at $150. What would happen in this market?
6. If consumers’ expectations were such that they were concerned about  the economy and jobs, what would you think would happen in this market?

Compose your solutions to this assignment in a report as a MS Word document.  

This assignment requires you to create a chart in Microsoft Excel. In  order to accomplish that, you will need to enter the data in an Excel  worksheet, and then use Excel to graph the data. Copy the graph from  your Excel worksheet and paste it into your MS Word document along with  any explanations or discussion, in-text citations if required, and  responses to the list of the questions asked in this assignment.

Do not upload the Excel worksheet to the Submissions Area.  The chart you create in Excel must be copied and pasted into a Word document.dd

Purpose of Assignment 

Week 5 exposes students to subjects that are intended to whet their appetites for further study in economics. Students will use the theory of consumer choice and the impact of the concepts of asymmetric information, political economy, and behavior economics, to describe how consumers make economic decisions. 

Assignment Steps 

Scenario: You have been asked to assist your organization’s marketing department to better understand how consumers make economic decisions. 

Write a 850-word analysis including the following: 

• The impact the theory of consumer choice has on:         
  • Demand curves
  • Higher wages
  • Higher interest rates
• The role asymmetric information has in many economic transactions.
• The Condorcet Paradox and Arrow’s Impossibility Theorem in the political economy.
• People are not rational in behavior economics. 
• Use a Running head on the title page and use a page header on the other pages
• Use a section heading for each topic in your paper

Cite a minimum of three peer-reviewed sources not including your textbook. 

Format your paper consistent with APA guidelines. 

1. Write a summary of the article in not less than 200 words. 
2. List three key points that you learnt from this article.  

Most people have several jobs over their lifetimes. Give a brief description of two or more of the jobs you’ve already had. Without revealing private information, explain if the job was part-time or full-time and address the following questions.

• What skills were required to perform your best? 
  • To what extent were agility, problem solving, and technology skills necessary for success?
• What skills did you learn in each job? 
  • How did learning these skills contribute to improving your ability to be effective in your work?
• Did these new skills increase your human capital? 
• If you haven’t yet had a job, describe the type of career you hope to have after finishing school. 
  • How will agility, problem solving, and technology skills be a vital part of your success in this type of career?