Name Module 2 Problem Sets: Question 1 — Which Of The Follow

Namemodule 2 Problem Setsnamequestion 1which Of The Following Pairs

Namemodule 2 Problem Setsnamequestion 1which Of The Following Pairs

Name Module 2 Problem Sets Name: Question #1 Which of the following pairs of goods are complements and which are substitutes? Are the goods that are substitutes likely to be perfect substitutes? a. Printer and ink. b. iPhone and Galaxy Samsung. c. Online education institutions and traditional "ground" education institutions. d. Digital cable television and a digital video recorder (DVR). e. Automobiles and gasoline. Question #2 If Joshua views three cups of coffee as a perfect substitute for one cup tea and vice versa, what is the marginal rate of substitution between coffee and tea? Question #3 Nicole wants area rugs and painting for her new house. She has been given a budget of $7,200 for this purpose. The area rugs that she wants can be purchased for $900 and paintings from a local Wyoming artist can be purchased for $400. a. Using Excel's charting tool, draw Nicole's budget constraint. Area Rugs Paintings Write a budget constraint equation for Nicole: b. For a limited time only Nicole can purchase area rugs at a price of $600, the cost of the paintings remain constant and now her budget has decreased to $6,000. Using Excel's charting tool, draw a new budget constraint curve. Would the budget constraint curve be likely to shift to the left or right? Area Rugs Paintings Write a new budget constraint equation for Nicole: Question #4 What are the main types of capital, labor, and land used to produce paper? Question #5 Based on the information in the Mini-Case "Malthus and the Green Revolution," how did the average product of labor in the food production change over time? Question #6 Christopher bought a $125 ticket to attend Nickelback concert in Red Rocks. Because it is his favorite rock group, he would be willing to pay up to $200 to attend the concert. However, his friend Keith invites Christopher to go with him to Water World in Denver, but he is only willing to pay up to $100. What is his opportunity cost of going to the Nickelback concert in Red Rocks ? Question #7 Use the following table to answer the questions listed below. Total Output Cost TFC TVC AFC AVC ATC MC a. Calculate the total fixed costs, total variable costs, average fixed costs, average variable costs, average total costs, and marginal costs. b. Plot the cost curves. (Hint: Graph total costs curves separate from average costs and marginal cost curves). c. At what quantity of output does marginal cost = average total cost and quantity of output in which marginal cost = average variable cost. Source: Boyes, W. and Melvin, M. (2008). Economics. (7th Ed.). Boston, MA: Houghton Mifflin Company. Week 3 Assignment: Examining Social Theory Paper Below is the assessment of your written paper assignment. Written Assignment Grading Form Content (70%) Points Earned: XX / 14 · All key elements of the assignment are covered in a substantive way. Major points are stated clearly & supported by specific details, examples, or analysis. · Describe the differences between: social psychology, socialization, and social process · Design a chart, list and describe the various social process theories · Which theory may have the biggest effect? · Met word count of 700 – 1,050 words Comments: TBD Organization (20%) Points Earned: X / 4 · The tone is appropriate to the content and assignment (Do not use the words “we,†“our,†or “usâ€). · The introduction provides a sufficient background on the topic and previews major points. · Paragraph transitions are present, logical, and maintain the flow throughout the paper. · The conclusion is logical, flows from the body of the paper, and reviews the major points. Comments: TBD Mechanics (10%) Points Earned: X / 2 · The paper—including headings, title page, and reference page— is consistent with APA formatting guidelines . · Intellectual property is recognized with in-text citations and a reference page. · Rules of spelling, grammar, usage, and punctuation are followed. · Sentences are complete, clear, concise, and varied. Comments: TBD Total Point Earned: XX / 20 Comments: TBD

Paper For Above instruction

The provided assignment presents an array of questions spanning various economic and social theory topics. The primary task involves analyzing multiple-choice questions related to microeconomics, such as identifying complements and substitutes, calculating the marginal rate of substitution, and constructing budget constraints. Additionally, it involves understanding the main types of resources used in paper production, evaluating changes in labor productivity through historical cases, and analyzing opportunity costs in real-life decision scenarios. There is also a quantitative component requiring cost curve analysis based on provided data, and a comprehensive social theory paper assessing differences among social psychology, socialization, and social processes, alongside designing a chart of social process theories and evaluating their impact.

The economic questions necessitate applying concepts of supply and demand, opportunity cost, and consumer choice models, requiring detailed calculations, diagramming using Excel, and understanding market dynamics. For example, determining whether goods are complements or substitutes involves analyzing their cross-price relationships, while drawing budget constraints requires formulating linear equations and visualizing constraints graphically. The cost analysis tasks, including plotting cost curves and identifying points where marginal costs intersect average costs, demand precise calculations and graphing skills.

The mini-case analyses and scenario-based questions demand historical and contextual understanding, such as assessing changes in the productivity of labor over time due to technological advances or policy shifts—like the Green Revolution—and evaluating opportunity costs based on preferences and alternative options. These questions encourage critical thinking about how resource allocation and consumer preferences influence economic outcomes and individual decision-making.

The social theory component involves a conceptual understanding of societal processes. It requires distinguishing among social psychology, socialization, and social processes. Furthermore, designing a chart that summarizes various social process theories involves synthesizing academic frameworks and explaining their influence. Analyzing which theory has the most significant effect necessitates comparative evaluation based on societal impact, fostering an understanding of diverse theoretical approaches to social change and stability.

In essence, the assignment integrates quantitative economic analysis with qualitative social theory understanding. It emphasizes the importance of applying theoretical knowledge practically through calculations, diagrams, and critical analysis to demonstrate comprehension of economic models, resource management, human resource utilization, and societal dynamics. The comprehensive nature of these tasks aims to develop a well-rounded understanding of both microeconomic principles and social science theories, crucial for a holistic grasp of how individuals, resources, and societal processes function and interrelate.

References

• Bboyes, W., & Melvin, M. (2008). Economics (7th ed.). Boston, MA: Houghton Mifflin Company.
• McLeod, J. (2019). Social Psychology. Simply Psychology.
• Grusec, J. E., & Hastings, P. D. (2015). Handbook of Socialization: Theory and Research. Guilford Publications.
• Harré, R., & Gillett, G. (1999). The Discursive Mind. Sage Publications.
• Mead, G. H. (1934). Mind, Self, and Society. University of Chicago Press.
• Green Revolution. (2020). In Encyclopedia Britannica. https://www.britannica.com/event/Green-Revolution
• Samuelson, P. A., & Nordhaus, W. D. (2010). Economics (19th ed.). McGraw-Hill Education.
• Becker, H. S. (1970). The Premises of Sociology. American Journal of Sociology, 75(3), 301–314.
• Giddens, A. (1984). The Constitution of Society: Outline of the Theory of Structuration. University of California Press.
• Smith, A. (1776). The Wealth of Nations. Bantam Classics, 2003 edition.