KAPLAN BU224 UNIT 3 assignemnt
KAPLAN BU224 UNIT 2 assignment
July 10, 2018KAPLAN BU224 UNIT 4 assignment
July 10, 2018.jpg” alt=”KULogo”>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 1â7.
.png”>
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?
.jpg” alt=”Slide1″>
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.
.jpg” alt=”Slide2″>
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