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Kaplan Bu224 unit 3 assignment




Question;Unit 3 Assignment Template;Name: -;Course Number: -;Section Number: -;Unit Number: - 3;Date: -;---------------------------------- General Instructions for all Assignments-----------------------------------;1.;Unless specified differently by your course instructor, save this assignment;template to your computer with the following file naming format;Course;number_section number_LAST_FIRST_ unit number;2. At the top of the template, insert the;appropriate information: Your Name, Course Number, Section Number and Date;3.;Insert your answers below, or in the appropriate space provided for in the;question. Your answers should follow the;APA format with citations to your sources and, at the bottom of your last page;a list of references. Your answers should also be in Standard English with;correct spelling, punctuation, grammar, and style (double spaced, in Times New;Roman, 12-point, black font). Respond to;questions in a thorough manner, providing specific examples of concepts;topics, definitions, and other elements asked for in the questions.;4. Provide a list of references at the end of;the last page of your assignment.;5.;Upload the completed assignment to the appropriate dropbox.;6.;Any questions about the assignment, or format questions, should be directed to your;course instructor.;-------------------------------------------;Career Competencies -----------------------------------------;In;this assignment, you will engage in developing the following career;competencies;Analyzing;Quantitative Data;Analyzing;Qualitative Data;Improving;Global Awareness;------------------------------------------- Assignment -------------------------------------------;1. St Atanagio is a remote island in;the Atlantic. The inhabitants grow corn and breed poultry. The accompanying;table shows the maximum annual output combinations of corn and poultry that can;be produced. Obviously, given their limited resources and available technology;as they use more of their resources for corn production, there are fewer;resources available for breeding poultry.;Maximum annual output options;Quantity of Corn;(pounds);Quantity of Poultry;(pounds);1;1200;0;2;1000;300;3;800;500;4;600;600;5;400;700;6;200;775;7;0;850;Examine the;following production possibility frontier graph with corn on the horizontal;axis and poultry on the vertical axis illustrating these options and showing;points 1?7.;a. Can St.;Atanagio produce 650 pounds of poultry and 650 pounds of corn? Explain. Where;would this point lie relative to the production possibility frontier?;b. What is the;opportunity cost of increasing the annual output of corn from 800 to 1000;pounds?;c. What is the;opportunity cost of increasing the annual output of corn from 200 to 400 pounds?;d. Can you;explain why the answers to parts c. and d. above are not the same? What does;this imply about the slope of the production possibility frontier?;2.Suppose;that the supply schedule of Belgium Cocoa beans is as follows;Price of cocoa beans;(per pound);Quantity of cocoa beans supplied;(pounds);$40;900;$35;700;$30;500;$25;400;$20;200;Suppose that Belgium;cocoa beans can be sold only in Europe. The European demand schedule for;Belgium cocoa beans is as follows;Price of Belgium cocoa beans;(per pound);European Quantity of Belgium cocoa beans;demanded;(pounds);$40;100;$35;300;$30;500;$25;700;$20;900;a. Below;is the graph of the demand curve and the supply curve for Belgium cocoa beans.;From the supply and demand schedules above, what are the equilibrium price and;quantity of cocoa beans from Belgium?;Now suppose that Belgium cocoa beans can;be sold in the U.S. The U.S. demand schedule for Belgium cocoa beans is as;follows;Price of Belgium cocoa beans;(per pound);U.S. Quantity of Belgium cocoa beans;demanded;(pounds);$40;200;$35;400;$30;600;$25;800;$20;1000;b. What is the;combined (total) demand schedule for Belgian cocoa beans that European and USA;consumers buy?;Price of Belgium cocoa beans;U.S. Quantity of Belgium cocoa beans demanded;European Quantity of Belgium cocoa beans demanded;Total Demanded;(per pound);(pounds);(pounds);(pounds);$40;200;100;$35;400;300;$30;600;500;$25;800;700;$20;1000;900;Below is the;supply and demand graph that illustrates the new equilibrium price and quantity;of cocoa beans from Belgium.;c. From the;supply schedule and the combined U.S. and European demand schedule, what will;be the new price at which Belgium plantation owners can sell cocoa beans?;d. What price;will be paid by European consumers?;e. What will be;the quantity consumed by European consumers?;--------------------------------------------;References;Unit _3;PERFORM Assignment Grading Rubric;Content;Percent Possible;Points Possible;Full assignment;100%;80;Overall Writing;20%;16;correct coversheet information at the top of 1st page;5%;4;APA format for answers;3%;2;correct citations;3%;2;standard English no errors;4%;3;At least ONE, or more, references;5%;4;Answers: provides complete information demonstrating;analysis and critical thinking;80%;64;Individual Questions;1. a. - Can this;quantity be produced, where does point lie?;10%;8;1. b. - What is;Opportunity cost from 800 to 1,000?;10%;8;1. c. - What is;opportunity cost from 200 to 400?;10%;8;1. d. - Why are c;d not the same, what shape of curve?;5%;4;2. a. - What is;equilibrium quantity and price?;5%;4;2. b. - What is new;demand schedule?;10%;8;2. c. - What is new;price?;10%;8;2. d. - What price;will Europeans pay?;10%;8;2. e. - What quantity;will Europeans buy?;10%;8


Paper#55969 | Written in 18-Jul-2015

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