Microeconomics

1. Demand Determinants:

aEach individual determinant analyzed for your situation, with examples applicable to
your situation showing current demand

data or most recent past data, except for the expectations determinant in which you
need to use data estimating future market conditions.

b- Price Elasticity of Demand facing you in your scenario, including actual calculation
of it using the midpoint formula If you can’t find data, then determine the price
elasticity from the characteristics and make up numbers to use. Be sure to

identify this if you use this approach. This will help you in deciding the slope of your
demand curve below.

0. Graph the demand facing your situation- Note that this requires information from the
supply determinant analysis before deciding how to draw the curve(s), as you may
need a separate MR curve.

2. Supply Determinants:

aEach individual determinant analyzed for your situation, with examples applicable to
your situation and research showing current supply data or most recent past data,
except for the expectations determinant in which you need to use data estimating
future market conditions-

 

 

 

Sample Solution

ACED ESSAYS