THE ECONOMIC ENVIRONMENT OF BUSINESS
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| Spring 2018 |
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Graduate (S) Business Administration 509 THE ECONOMIC ENVIRONMENT OF BUSINESS |
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The homework should be written on 8 1/2 by 11 or A4 paper. The homework is due on Saturday, February 24.
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Use supply and demand analysis to determine the effect on the market for each event below. Illustrate each situation graphically and discuss your reasoning. Indicate explicitly what happens to price and quantity in each case.
1. Use the following article to explain what is happening in the market for rental housing:
The cost of rising home prices: Rental rates are at a 50-year high
2. Use the following article to explain what is happening in the market for salmon meat in Canada:
GM salmon hits shelves in Canada – but people may not know they're buying it
3. Use the following article to explain what is happening in the market for long-term housing rentals:
4. Use the following article to analyze what happened in the market for jeans:
5. Suppose that incomes in general are rising as the economy recovers. At the same time, car dealers expect the price of used economy cars to be higher in the future. How would these two events affect the market for used economy cars right now?
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