Business Finance
Macroeconomics Assignment

Question Description

Your answers should follow APA formatting by being in double spaced paragraph format, with citations to your sources and, at the bottom of your last page, a list of references. Your answers should also be in Standard English with correct spelling, punctuation, grammar, and style. 4. Respond to the questions in a thorough manner, providing specific examples of concepts, topics, definitions, and other elements asked for in the questions. Your paper should be highly organized, logical, and focused. 5. Required Format: ● Correct APA formatting for answers (cover sheet with name, course number, section number, unit number, date, answers double spaced, in Times New Roman 12-point font). Review the APA formats found in the Writing Center. ● Correct citations within answers ● Standard English with no spelling or punctuation errors ● Correct references at the bottom of the last page Assignment As a marketing specialist working for a production company, it is your job to explain to investors how the current status of the supply will meet the changing demand for products. Based on the following Assignment questions compile answers that effectively addresses the hypothetical examples provided in the Assignment. This Assignment will assess your knowledge based on the following outcome: BU204-1: Describe the importance of Production Possibility Frontier, the Circular Flow Diagram, and the Supply and Demand models in the market economy. This Assignment deals with the Production Possibility Frontier and market forces of supply and demand models as well as the impacts of government policies on the interactions of supply and demand in the market economy. (Chapters 2, 4, and 6)

Final Answer

Attached.

Unit 3

[BU204: Macroeconomics]

Unit 3 Template

Student’s name
Institution
Date

v.6.9.17
1 of 4

Unit 3

[BU204: Macroeconomics]

1) Given the table below, graph the demand and supply curves for flashlights. Make certain to label
the equilibrium price and equilibrium quantity.
Price

Quantity Demanded
Per Month
6,000
8,000
10,000
12,000
14,000

$5
$4
$3
$2
$1

Quantity Supplied
Per Month
10,000
8,000
6,000
4,000
2,000

Chart Title
16,000
14,000
12,000
10,000
8,000
6,000
4,000
2,000
0
$5

$4
Quantity Demanded

$3

$2

$1

Quantity Supplied

a) What are the equilibrium price and the equilibrium quantity?
When the demand for goods and quantity supplied are plotted in a graph, the two lines
intersect at the point where the quantity demanded is equal to the quantity supplied. The
corresponding price at this point is the equilibrium price. From the graph, the equilibrium
price is $4 and the equilibrium quantity is 8,000.
b) Suppose the price is currently $5. What problem would exist in the market?
What would you expect to happen to the price?

v.6.9.17
2 of 4

Unit 3

[BU204: Macroeconomics]

At a price of $5, the quantity demanded is 6,000 while the quantity supplied is $10,000. This
would lead to excessive supply of flashlights in the market. With excessive supply, the price
of the flashlight will eventually fall.
c) Suppose the price is currently $2. What problem would exist in the market?
What would you expect to happen to the price?
When the price of the flashlights is at $2, the quantity supplied falls to 4,000 units. At the
same time, deman...

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Cornell University

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