This course provides students with the basic theories, concepts, terminology, and uses of microeconomics. Students learn practical applications for microeconomics in their personal and professional lives through assimilation of fundamental concepts and analysis of actual economic events. Policies
Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents:
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What causes the shifts? * For each shift, analyze how it would affect the equilibrium price, quantity, and decision making. * How may you apply what you learned about supply and demand from the simulation to your workplace or your understanding of a real-world product with which you are familiar? * How do the concepts of microeconomics help you understand the factors that affect shifts in supply and demand on the equilibrium price and quantity? * How do the concepts of macroeconomics help you understand the factors that affect shifts in supply and demand on the equilibrium price and quantity? * Relating to the simulation, explain how the price elasticity of demand affects a consumer’s purchasing and the firm’s pricing strategy.Format your paper consistent with APA guidelines. | 5/27 | 15 | Learning Team Reflection Production and Cost Analysis | Discuss this week’s objectives with your team. Relate them in some way to team members work or personal experiences, or current events in the business press or news about the economyPrepare a 350- to 1,050- word paper detailing the findings of your discussion. | 5/27 | 1 | Learning Team Charter | The Learning Team Must post their completed charter to the assignments tab; it MUST describe the penalty if one team member does not participate or do their part in a timely, quality, manner | 5/27 | 1 |