Homework Help (50 word reply to each Student Response)

Mar 27th, 2015
FratBro23
Category:
Social Science
Price: $15 USD

Question description

ORIGINAL QUESTION.docx

Student #1 Response

Hello’ Prof and Classmates

My congressman is Patrick J. Tiberi (R)

The 12th Congressional District.

250 E Wilson Bridge Rd

Suite 100

Worthington, Ohio 43085

Fax: 614-818-0887

On March 3rd of this year congressman Patrick J. Tiberi voted to keep funding the Department of Homeland Security (DHS) until September to help protect our nation and he also  stated ‘’ I remain firmly opposed to the president’s overreach on immigration.’’ (Tiberi, 2015).

I agree with this bill it keeps the Department of Homeland Security (DHS) founded for six more months and I believe that right now our national security is more important than it has ever been with Iran trying to obtain a nuclear program and  it also cuts off all founding to Obama’s executive order on giving more than five million illegal immigrants amnesty, America has a national debt that has already reached the trillions we can’t afford to take on more debt than we have accumulated over the last decade by giving five million illegal immigrants citizenship all it’s going to do is force us into another recession.

Reference: http://tiberi.house.gov/contact/  

Reference: http://tiberi.house.gov/news/documentsingle.aspx?DocumentID=394742

Student #2 Response

Good evening Professor and classmates,

My Congressman is Joseph Crowley who represents the Bronx 14th Congressional District of New York.

2800 Bruckner Blvd., Suite 201

Bronx, NY 10465

Phone: (718) 931-1400

“Education is the key to a lifetime of success and is essential to our nation’s future. Joe supports a comprehensive approach to education that begins with strong early childhood programs, continues through a robust K-12 education, and makes college more affordable and accessible for all Americans.”

“Joe believes investing in education has never been more important. Investment today will lay the cornerstone of tomorrow’s economy and enable the next generation of Americans to compete on a global scale, maintain America’s standing as the world’s top economy and ensure U.S. workers are at the forefront of developing new and emerging industries. Only with a renewed focus on education at the national, state and community level can we ensure a prosperous future for our children and our country.”

I agree with the way Joe thinks about education I also feel that education is the key. The more a person knows whether young or old the m ore successful a person could be. I always tell my youngest nephew never stop learning get as much education as possible. As a young black man in the world in this day and age you can go very far with an education.

http://crowley.house.gov/issue/education


ORIGINAL QUESTION-Tailored Clothes.docx

STUDENT #1

Tailors and computers

In this scenario, I’m willing to pay $200 and the tailor was originally prepared to sell at $100. This would have made a $100 consumer surplus for myself, the amount between what I am willing to buy the dress for and the amount the tailor is willing to sell it for (Krugman & Wells, 2013). This scenario would not allow the tailor to have any producer surplus. When I get to the shop, the price is now $150 so my consumer surplus is now $50 instead of $100. The tailor, however now has a producer surplus of $50. The price increase reduced my surplus and increased the surplus of the producer.

A similar situation occurred when I recently bought a computer. I was willing to pay within a certain range. I shopped online to see what features I could get for the price I was willing to spend. I didn’t, however, want to have a computer shipped to the house and sitting on the porch until I got home. So, I went into a few stores after work, determined to pick something up without having to have it delivered. I found that the stores I was able to get to during the week did not have the selection of what I had found online and the prices were a little more for the same features. I persevered and was able to find a good choice in a store but did pay a little more than what I could find online so this decreased my consumer surplus somewhat, possibly bringing my surplus to nearly zero.

STUDENT #2

Hello Class and Professor,

Individual consumer surplus is the net gain to an individual buyer from the purchase of a good (Wells, 2013).  It equals the difference the buyer’s willingness to pay and the price paid (Wells, 2013).  In this scenario at the tailor shop I would be willing to pay $200 for the dress.  When I arrive at the store the price of the dress is $150.  I would gain a surplus of $50.  This is the consumer surplus of the product.

Individual producer surplus is the net gain to an individual seller from selling a good (Wells, 2013).  It’s equal to the difference between the price received and the sellers cost (Wells, 2013).  In this scenario the tailor shop is willing to sell the item for $100.  The seller then puts the dress on the floor for $150.  Which gives the seller a surplus of $50.  This is the producer surplus of the product.

Producer and consumer surplus affect buying and manufacturing decisions because it affects their resources.  These surpluses let them know what consumers are buying and what price they are buying them at.  This gives them a bigger picture on how much they need to put into each product and what resources to use to be effective. 

Recently I had to find an exhaust repair shop to repair my exhaust on my 2000 Suzuki Grand Vitara.  I called around and was told it would be at least $100.  I was willing to pay $50 at the max because it was just a hole and not the whole exhaust.  Finally I found a shop that did it for $30 and it only took 15 minutes.  So my surplus was $20.  The shops surplus was probably $20 because they just welded a pipe in place where the hole was. 


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(Top Tutor) Daniel C.
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