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Economics assignment

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1) We have to find some kind of news article and build graph and diagram while answering all the
questions in the assignments. If you want to see the samples we did in the class i can show the
example. Something very similar we have to. In class we google and find one article. And based
on that we answer questions and build graph/diagram. I will be interested in seeing what news
article you are using to create graph/diagram.
In the class we used following news articles:
1) http://abcnews.go.com/Business/story?id=5367963&page=1
2) https://www.marketplace.org/2007/10/29/business/another-cabbies-strike-rome
If you want to see the solution for this i can send you to get the idea.
It will be better if news article you choose will be from major newspaper here
abcnews,nbcnews,usatoday,nytimes etc.
Let me know if that helps you understand better and resolve assignment #1.
While graphing/answering first assignment make sure to take this topics into consideration this
were the topics covered in the class:
Demand,supply, equilibrium, price, floor ceilings, binding/non-binding, shortage, surplus, demand
quota, supply quota.
2) For assignment #2 several articles already mentioned in the document and we need to clearly
answer those questions while showing that in graphs and diagrams.
While graphing/answering first assignment make sure to take this topics into consideration this
were the topics covered in the class:
FINDING RIGHT VARIABLE FOR REGRESSION, FINDING CORRELATIONS ,
EQUATIONS FOR ELASTICITY,Price Elasticity, Margin Revenue, Margin Cost,E = Pt/Qt *
DQ/DP, Inelastic Demand, Elastic Demand, ED (Demand is price elastic) with formula,
Perfectly Inelastic Demand, Perfectly Elastic Demand, Unit Elastic Demand, Y = mx + b,
Regression, Multiple regression, Elastic, unit elastic, inelastic with diagrams, TR = P * Q, Cross
price elasticity.
we covered all this in class : https://en.wikipedia.org/wiki/Price_elasticity_of_demand
we have to graph/diagram other than answering all questions
3) In assignment 3 (excel one) we have to build/create several hypothesis and try to prove/test
those:
It is related to regression analysis and price elasticity, Elasticity, Perfectly Inelastic
Demand,Perfectly Elastic Demand,Unit Elastic Demand, if Elasticity = 0 an if > 1 , Ed = P/Q *
Coefficient on Price
Y = mx + b where m: slope and b: y-intercept, information from the demand curve to calculate
elasticity.
we need to run regression with all the hypothesis and test with different models like lin-lin,
log-lin,log-log models and answer all questions, with graph/diagram if needed.

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ASSIGNMENT NO. 1
LINK TO THE ARTICLE
: http://fortune.com/2016/07/01/americans-coffee-prices/
Referring to the article above.
1. a. It is a consumer products market with Perfect Competition.
b. Graph
c. Changes to supply and demand: Demand in this market has increased exponentially.
However supply is not increased proportionally.
d. i. Demand for coffee beans has been increasing a lot in the past few years leading to
an increase in the prices of coffee beans. This is due to increase in consumption of
coffee by the Americans. With the U.S. being the largest consumer; any demand
growth there will create massive changes to the demand-supply balance,”
ii. There is an exponential increase in the number of consumers in the market. Since
there are a lot of people taking up coffee drinking.

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1) We have to find some kind of news article and build graph and diagram while answering all the questions in the assignments. If you want to see the samples we did in the class i can show the example. Something very similar we have to. In class we google and find one article. And based on that we answer questions and build graph/diagram. I will be interested in seeing what news article you are using to create graph/diagram. In the class we used following news articles: 1) http://abcnews.go.com/Business/story?id=5367963&page=1 2) https://www.marketplace.org/2007/10/29/business/another-cabbies-strike-rome If you want to see the solution for this i can send you to get the idea. It will be better if news article you choose will be from major newspaper here abcnews,nbcnews,usatoday,nytimes etc. Let me know if that helps you understand better and resolve assignment #1. While graphing/answerin ...
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