Project #10623 - Microeconomics

Attached is the Required Templ­ate for Phase 1 IP

Paper Title Goes Here

            Write your introduction here. Write a brief paragraph that introduces the reader to your topic and it should explain what your paper will be discussing. Much of your introduction may be taken from the assignment itself (in your own words). You will want to review the assignment AND rubric for full details and you will need to update the Title Page/Page Header.

Write a 1,000–1,500 words plus graphs.  For assistance with your assignment, please use your text, Web resources, and all course materials

Part I

Draw the demand curve for the A-Phone and place it here.

Income Increase

            Explain how the graph, price, and quantity demanded will change if there is an overall increase in income.

Pomegranate Better Than the A-Phone

Explain how the graph, price, and quantity demanded will change if there is an overall increase in income and people believe that the Pomegranate is now better than the A-Phone.

Price of the A-Phone goes up

Explain how the graph, price, and quantity demanded will change if the price of the A-Phone goes up when a flaw is found in the Pomegranate.

A New Type of Walkie-Talkie

Explain how the graph, price, and quantity demanded will change if a new type of walkie-talkie has an unlimited range and is basically free.

Health Concerns When Using Cell Phones

Explain how the graph, price, and quantity demanded will change if it is discovered that there are health concerns when using cell phones.

Baby Boom

Explain how the graph, price, and quantity demanded will change if there is a baby boom.

Price of the A-Phone and the Pomegranate Both Go Up

Explain how the graph, price, and quantity demanded will change if the price of the A-Phone and the Pomegranate both go up.

Supply of Cell Phones

Explain what happens to the supply of cell phones if the market price goes up

Part II

Too Expensive to Produce Cell Phones

Explain what happens to the price and quantity supplied and how it reflects on a graph if it becomes more expensive to produce cell phones.

Cell Phone Production

Explain what happens to the price and quantity supplied and how it reflects on a graph if more cell phones are being produced with the same amount of inputs.

Popular Walkie-Talkies

Explain what happens to the price and quantity supplied and how it reflects on a graph if Walkie-talkies are popular because of the new technological change mentioned above.

Increase Competition

Explain what happens to the price and quantity supplied and how it reflects on a graph if another company starts producing cell phones, and now there are 3 producers in the market.

Increasing Price

Explain what happens to the price and quantity supplied and how it reflects on a graph if people think the price of cell phones will go up in the future.

Part III

Draw a graph which shows the equilibrium price of cell phones and place it here.

Equilibrium Price

Explain what the graph is showing.

Robo Cell Phone

When the new manufacturer introduces the Robo cell phone to the market, how does that affect the equilibrium price if the Robo is basically the same as the other cell phones?

Part IV

As the public’s dependence on cell phones continues to grow, the cost of the phones may be decreasing, but the stronghold that telecommunication companies have on the public in regards to contracts and climbing fees is alarming.

Additionally, all cell phone companies charge about the same prices, and the consumers do not have much choice in substituting providers. Consumers appear to need some controls in this regard, and the government decides to step in.

Government Intervention

What is the effect of government intervention in the cell phone market?

Government vs. Consumers

Is government intervention a good thing for consumers?

On the other hand, the government sees the increase in cell phone use as an opportunity to make some additional revenue, and it decides to tax service providers.

Tax

Who is really paying the tax?

Graphical Conclusion

Illustrate your conclusion on a graph and place it here

Free Market

Do you think that there is a free market for cell phone users? Why or why not?


 

References

List your reference here. The reference page must include all of the references you used, listed in proper APA format. Refer to the Citations.doc post in files area.

 

 

 

 

Weekly tasks or assignments (Individual or Group Projects) will be due by Monday and late submissions will be assigned a late penalty in accordance with the late penalty policy found in the syllabus. NOTE: All submission posting times are based on midnight Central Time.

Part I

Draw the demand curve for the A-Phone. Explain how the graph, price, and quantity demanded will change if the following occurs:

  • There is an overall increase in income.
  • There is an overall increase in income and people believe that the Pomegranate is now better than the A-Phone.
  • The price of the A-Phone goes up when a flaw is found in the Pomegranate.
  • A new type of walkie-talkie has an unlimited range and is basically free.
  • It is discovered that there are health concerns when using cell phones.
  • There is a baby boom.
  • The price of the A-Phone and the Pomegranate both go up.

What happens to the supply of cell phones if the market price goes up?

Part II

Explain what happens to the price and quantity supplied and how it reflects on a graph if the following occurs:

  • It becomes more expensive to produce cell phones.
  • More cell phones are being produced with the same amount of inputs.
  • Walkie talkies are popular because of the new technological change mentioned above.
  • Another company starts producing cell phones, and now there are 3 producers in the market.
  • People think the price of cell phones will go up in the future.

Part III

Draw a graph which shows the equilibrium price of cell phones. Explain what the graph is showing.

When the new manufacturer introduces the Robo cell phone to the market, how does that affect the equilibrium price if the Robo is basically the same as the other cell phones?

Part IV

As the public’s dependence on cell phones continues to grow, the cost of the phones may be decreasing, but the stronghold that telecommunication companies have on the public in regards to contracts and climbing fees is alarming.

Additionally, all cell phone companies charge about the same prices, and the consumers do not have much choice in substituting providers. Consumers appear to need some controls in this regard, and the government decides to step in.

  • What is the effect of government intervention in the cell phone market? Make sure that you use graphs to illustrate your point.
  • Is this a good thing for consumers?

On the other hand, the government sees the increase in cell phone use as an opportunity to make some additional revenue, and it decides to tax service providers.

  • Who is really paying the tax?
  • Illustrate your conclusion on a graph.
  • Do you think that there is a free market for cell phone users? Why or why not?

 

 

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Due By (Pacific Time) 08/10/2013 12:00 am
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