Mastered Report

MICROECONOMICS  ( ALL OF IT IS ONE QUESTION!!!) For the article which graph (1-12) best describes what happened.  Liquor  Don Julio Tequila Maker Diageo Is Running Low on Booze That Takes Years to Make Owner of Crown Royal whisky faces shortages resulting from high demand and supply constraints during the pandemic LONDON—The world’s largest spirits maker is running low on some of its products. Diageo PLC said soaring pandemic demand is depleting stocks of Crown Royal whisky, Lagavulin Scotch and Don Julio tequila. These bestselling brands can take months or years to age before hitting liquor-store shelves, making it hard to quickly increase production. Diageo said it also hasn’t had enough bottles to package up Bulleit bourbon to meet demand. It is separately grappling with higher costs for aluminum and cereals that go into the booze-making process. Shipping and energy bills have climbed. “The constraint is simply on being able to meet very high demand,” said Chief Financial Officer…

Read the following text and complete the sentences below with the correct answers. New York’s ‘real’ Little Italy By Danielle Oteri A It’s a dark winter evening on Arthur Street in the Bronx, one of New York City’s five neighbourhoods. Shops are closing. But as shopkeepers turn off lights and pull down metal grates, the windows of Mario’s restaurant glow yellow. Inside you can see old paintings of Italy’s most famous places, from the Blue Grotto to the Leaning Tower of Pisa. “Some customers have told me they don’t like the paintings,” says owner Joe Migliucci. Joe is 80, but he doesn’t look a day older than 50. He’s Mario’s son, and the paintings were made by his uncle, Ciro. He looks at them lovingly. “They say they’re too dark—too old-fashioned. But this is our history.”  B Mario’s is the oldest restaurant in one of the oldest Italian neighbourhoods in the city. New Yorkers know Arthur Street as the city’s ‘real’ Little Italy, where more than twenty Italian shops and restaurants have…

Need asap... My husband is sick of me drinking Coke every day. He tells me that if I give up drinking it for 6 months, he'll buy me a new car. I want a new car, so I agree to the deal, and I don't drink any Coke during that time. At the end of the six months, I tell him it's time to go get my new car. He balks and says no, explaining that not drinking Coke has actually been beneficial for me, so there's no consideration for the deal. Is he right? Explain.

Based on these data, describe the relevant relationship between the price of a hamburger and the quantity consumers are willing to purchase, using a verbal statement, a numerical table, and a graph. Which model do you prefer? Why?

In deciding to produce a given good, an individual would always choose A. The process that uses the most capital goods  B. The most productive process available C. The shortest and most productive process available D. The shortest process available

Choose one of the seven principles of economics that apply to microeconomics. Choose a specific topic that has struck you and explain how it applies to the principle of economics you have chosen.

As Gasoline Prices Soar, Americans Slowly Adapt As gas prices rose in March 2008, Americans drove 11 billion fewer miles than in March 2007. Realizing that prices are not going down, Americans are adapting to higher energy costs. Americans spend 3.7 percent of their disposable income on transportation fuels. How much we spend on gasoline depends on the choices we make: what car we drive, where we live, how much time we spend driving, and where we choose to go. For many people, higher energy costs mean fewer restaurant meals, deferred weekend outings with the kids, less air travel, and more time closer to home. Questions 1) List and explain the elasticities of demand that are implicitly referred to in the news clip. 2) Why, according to the news clip, is the demand for gasoline inelastic?

Read the following text and choose the correct answers (True/False) New York’s ‘real’ Little Italy By Danielle Oteri A It’s a dark winter evening on Arthur Street in the Bronx, one of New York City’s five neighbourhoods. Shops are closing. But as shopkeepers turn off lights and pull down metal grates, the windows of Mario’s restaurant glow yellow. Inside you can see old paintings of Italy’s most famous places, from the Blue Grotto to the Leaning Tower of Pisa. “Some customers have told me they don’t like the paintings,” says owner Joe Migliucci. Joe is 80, but he doesn’t look a day older than 50. He’s Mario’s son, and the paintings were made by his uncle, Ciro. He looks at them lovingly. “They say they’re too dark—too old-fashioned. But this is our history.”  B Mario’s is the oldest restaurant in one of the oldest Italian neighbourhoods in the city. New Yorkers know Arthur Street as the city’s ‘real’ Little Italy, where more than twenty Italian shops and restaurants have been in…

MICROECONOMICS  Questions 3  ( ALL OF IT IS ONE QUESTION!!!) For article 3 write the number of the graph that best describes what happened. Fill in only the appropriate boxes in the chart for article 3 and be sure and indicate if it is an increase or a decrease.  For the graph use an arrow to indicate an increase or a decrease. Make sure you fill in the graph PLEASE Leave it blank if there is no change   Masks (Now). The easing Covid-19 pandemic is expected to reduce demand for medical masks this year, joining a group of companies that have forecast a decline in business from Covid-19 prevention. Masks became a billion-dollar business for the St. Paul, Minn., manufacturer starting in 2020, when the virus’s rapid spread sent consumers and healthcare workers looking to secure facial coverings to try to avoid infection. Now, as the latest U.S. surge caused by the Omicron variant fades, 3M said they are seeing slowing mask sales. WHICH GRAPH BEST FITS THE ARTICLE.   Graph # Graph…

Find a movie that has some sort of economic principle(s) in a particular scene. Give a brief synopsis of the scene and evaluate it using economic theory. The assignment should be no more than one double spaced page.

PLEASE FILL IN THE CHART BELOW FOR THE ARTICLE!! Microeconomics For the article, write the number of the graph that best describes what happened. Fill in only the appropriate boxes in each chart for each article and be sure and indicate if it is an increase or a decrease.   HANDBAGS What happens when the hot handbag trend is to not buy a new one? Sales of premium handbags and accessories in North America are forecast to decrease Caroline Cooper, a 21-year-old sales associate from Rockland County, N.Y., said she would rather spend her money going to restaurants and Broadway plays.“I don’t need another handbag,” she said. The change in spending habits poses a challenge to handbag makers that are already feeling the effects.Handbag sales are also suffering from fewer tourists. Instead shoppers are spending the money they are saving from lower gas prices on entertainment rather than on goods like clothing and accessories. Fill in the Answer sheet for the article. Make sure you fill in the…

Daniel Jones thought he was getting his girlfriend the best surprise Valentine’s Day gift ever. He bought two airline tickets for the couple to fly from their home in Cambridge, England to Belfast, Northern Ireland to see her favorite band, the Red Hot Chili Peppers. With over 80 million records sold worldwide, Red Hot Chili Peppers are one of the best-selling bands of all time. Jones’ girlfriend had always wanted to see the band perform live, and Jones thought nothing could be better than a romantic trip to see the band play live on Valentine’s Day. Jones managed to keep the concert tickets a surprise until they landed in Belfast – in their hotel room she opened the envelope in which he had placed the concert tickets for her favorite band. Jones was surprised when his girlfriend, rather than jumping for joy, simply turned to him with a puzzled look on her face. It was then that Jones looked more carefully at the tickets, to realize that he had purchased two seats for a performance by…

MICROECONOMICS  ( ALL OF IT IS ONE QUESTION!!!) For the article write the number of the graph that best describes what happened. King Size Beds For some couples, the solution for too much pandemic togetherness is saying good night on Valentine’s Day in a bigger bed where they don’t need to touch. After nearly two years of working from home and sharing close quarters with spouses, kids and pets, people are tossing out their full- and queen-size beds in favor of more spacious kings. After nearly two years of working from home and sharing close quarters with spouses, kids and pets, people are tossing out their full- and queen-size beds in favor of more spacious kings. Robert Pagano and his girlfriend, Tracy Jones, weighed the pros and cons of switching to a king from a queen last year. The couple, who live in Las Vegas, had been getting on each other’s nerves when they were stuck working from home. “We hoped a bigger bed would help us avoid arguments,” Mr. Pagano said. “But we were…

Synchronized shift in greater demand and greater supply, a graph only.

Think back to a purchase that you made recently and respond to the following:  How would you describe your thinking before you made that purchase?  Did you have any budget constraints?  If so, what were they? Would you have made the purchase if the price had increased? Why or why not?

MICROECONOMICS  ( ALL OF IT IS ONE QUESTION!!!) For the article which graph (1-12) best describes what happened.  King Size Beds For some couples, the solution for too much pandemic togetherness is saying good night on Valentine’s Day in a bigger bed where they don’t need to touch. After nearly two years of working from home and sharing close quarters with spouses, kids and pets, people are tossing out their full- and queen-size beds in favor of more spacious kings. After nearly two years of working from home and sharing close quarters with spouses, kids and pets, people are tossing out their full- and queen-size beds in favor of more spacious kings. Robert Pagano and his girlfriend, Tracy Jones, weighed the pros and cons of switching to a king from a queen last year. The couple, who live in Las Vegas, had been getting on each other’s nerves when they were stuck working from home. “We hoped a bigger bed would help us avoid arguments,” Mr. Pagano said. “But we were worried the extra…

You are in the process of cleaning up your basement which has collections of historical media publications. In one of the historical articles, The Globe and Mail (December 16, 1997) reported that milk consumption declined following price increases: “Since the early 1980s, the price of milk in Canada has increased 22 per cent. As prices rose, the demand for milk fell off. Total [consumption] of milk on a per capita basis dropped . . . to 2.62 hectolitres in 1995 from 2.92 hectolitres in 1986.” Use these data to estimate the price elasticity of demand for milk according to your estimate, what happens to milk producers’ revenue when the price of milk rises? Why might your estimate of the elasticity be unreliable? (Hint: Notice that The Globe and Mail is careless about the distinction between demand and quantity demanded