Answer a series of questions in the form of an paper. Support your answers with research from at least three peer-reviewed journal articles
- Research elasticity information for two particular goods: one with an elastic demand and one with an inelastic demand. Using elasticity information you gather, predict changes in demand. The United States Department of Agriculture website (https://data.ers.usda.gov/reports.aspx?ID=17825) has a good resource to help with this.
- Describe how marginal analysis, by avoiding sunk costs, leads to better pricing decisions.
- Explain the importance of opportunity costs to decision-making and how opportunity costs lead to trade.
- Evaluate how better business decisions can benefit not just the producer but the consumer and society as a whole. In your evaluation, contrast the deontology and consequentialism approaches to ethics.
Must be at least three pages in length (not counting the title and references pages) and include at least three peer-reviewed resources. Adhere to APA Style , including citations and references for sources used. Be sure to include an introduction. Please note that no abstract is needed.
Additional Details on the grading
Response reflects indepth consideration and personalization of the theories, concepts, and/or strategies presented. Viewpoints and interpretations are insightful. Response demonstrates synthesis of ideas presented.