Article Report 2 (Paper Two) is a 500 – 700 word report about an article from a current (not older then 1-1-2020) online magazine or newspaper.
Part I. Summary
First, you must find an article (do not choose an editorial or an article where an economist/editor already analyzed an issue) that contains an issue that lends itself to analysis by one of the assigned theories. Once you have decided that the article is appropriate, you must then summarize it using your own words. The information you summarize in Part I will be used in your analysis in Part II.
Part II. Analysis
Second, you must explain and analyze the article using either:
a) Elasticity and the relationship between P, Q, and TR, or
b) Cost and Revenue and the determination of profit/losses of the firm.
Part II analysis is essential to be able to draw inferences in part III.
Note: do not use the pronoun I, use the appropriate theory (do not explain the theory) to simply analyze the information that you stated in the summary.
1) To use the principle of elasticity you need an article that can provides two of the three elements included in the Ed equation ( Ed = % change in Q demanded / % change in P) , or in the TR equation ( TR = P X Q).
2) To use Cost, and revenue to determine profit you must;
first, use part II of your paper to determine, based on the information from the article (that you summarized in part I), if the firm is operating under Perfect competition, monopolistic competition, oligopoly, or monopoly.
Second, from the article info, you must also determine if the firm is making profit or losses, and the changes that this firm is facing (decreasing or increasing demand, decreasing or increasing costs) and what these changes do to the firm price and/or quantity, and/or TC, TR, and profit.
Third, the better is you part II (establish the market situation of the firm), the easier part III becomes. In Part III, you need to use the theory to criticize past actions of the firm, or suggest future actions that can improve the firm profit’s position.
Part III. Drawing Inferences
Drawing inferences (also known as making projections and/or providing criticism) based on the issues summarized in Part I and analyzed in Part II using the economic theories as mentioned in part II above.
Note: do not use the pronoun I, use the appropriate theory to just draw inferences (do not explain the theory) .
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