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Microeconomics discussion questions week 1 ii

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Microeconomics discussion questions week 1 ii I need this by today at 7:30pm Eastern Time Zone. Thanks   Microeconomics Discussion Questions Week 1       I.              Please answer each of the following 8 questions in a minimum of 120 word count. Use in text citations and provide references. Thank you.       1. Here is a question presented to you at the end of this Learning Activity. ” The technology is now developing so that road use canbe priced by computer. A computer in the surface ofthe road picks up a signal from your car and automaticallycharges you for the use of the road. Howwould this affect bottlenecks and rush-hourcongestion?” 2. What are excise taxes and tariffs? How do they affect the market? Resource: Colander, D. C. (2013). Microeconomics Chapter 5: Using Supply and Demand, Economics (9th ed.). New York, NY: McGraw-Hill/Irwin   3. What is the price elasticity of Demand? Express the definition in an equation form. Please give an example. 4. What is the price elasticity of Supply? Express the definition in an equation form. Please give an example. Resource: Colander, D. C. (2013). Microeconomics Chapter 6: Describing Supply and Demand: Elasticities, Economics (9th ed.). New York, NY: McGraw-Hill/Irwin   5. This video has a close connection to our study in Chapter 1. After watching this video, please discuss the following:   6. What are the 3 central coordination problems that any economy must solve?    7. How do these problems affect your personal or your organizational decision-making process? Resource: http://digital.films.com/PortalViewVideo.aspx?xtid=48959   8. How would a business firm or company find an equilibrium in the market? Resource: https://www.khanacademy.org/economics-finance-domain/microeconomics/supply-demand-equilibrium/market-equilibrium-tutorial/v/market-equilibrium   II. Answer the following questions   Write the definition for each of the following (150 word count minimum foe each definition):   Law of Demand         Law of Supply           Which of the following graphs best demonstrates the law of demand?   a)      I b)      II c)       III d)      IV     Which of the following graphs best demonstrates the law of supply?   a)      I b)      II c)       III d)      IV                  

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