ECON 210 Embry Riddle Aeronautical MOD2 Determinants of Demand and Supply HW Assisgnment and rubric is in the word document uploaded. I would love to work

ECON 210 Embry Riddle Aeronautical MOD2 Determinants of Demand and Supply HW Assisgnment and rubric is in the word document uploaded. I would love to work with you again if you’re willing! Econ210 – Mod2 / Determinants of Demand & Supply
Armed with the knowledge you are gaining from this module week’s summit
session, it’s now time for us to apply what we are learning! For this activity,
complete four of the five scenario-based problems. Prepare a document to
explain your answers and graph your solutions. Make sure to use references in
APA format to support your positions.
1. Joshua’s income increases, while federal taxes
increase; therefore, please illustrate by
constructing a supply and demand graph, the
direction in which the curves will shift and state the new equilibrium price
and quantity; for example, state whether price and quantity increased,
decreased, or are indeterminate. Please explain your rationale based on
the determinants of demand and supply.
2. Winston is disappointed in the new SUV he recently purchased. He was
excited about the new technology incorporated in his SUV but they did not
live up to his expectations; therefore, please illustrate by constructing a
supply and demand graph, the direction in which the curves will shift and
state the new equilibrium price and quantity; for example, state whether
price and quantity increased, decreased, or are indeterminate. Please
explain your rationale based on the determinants of demand and supply.
3. Kim is in the market for a new automobile, and since she was just
promoted at work, her tastes in higher-end automobiles has increased, but
to her surprise taxes have decreased, which make a new automobile more
attractive; therefore, please illustrate by constructing a supply and demand
graph, the direction in which the curves will shift and state the new
equilibrium price and quantity; for example, state whether price and
quantity increased, decreased, or are indeterminate. Please explain your
rationale based on the determinants of demand and supply.
4. U.S. agricultural farmers are excited since the government announced an
increase in subsidies even though the substitutes for agricultural goods
that are imported have increased in demand; therefore, please illustrate by
constructing a supply and demand graph, the direction in which the curves
will shift and state the new equilibrium price and quantity; for example,
state whether price and quantity increased, decreased, or are
indeterminate. Please explain your rationale based on the determinants of
demand and supply.
Econ210 – Mod2 / Determinants of Demand & Supply
5. Due to advanced technology, the price of substitute goods for higher
education has increased in demand; therefore, please illustrate by
constructing a supply and demand graph, the direction in which the curves
will shift and state the new equilibrium price and quantity; for example,
state whether price and quantity increased, decreased, or are
indeterminate. Please explain your rationale based on the determinants of
demand and supply.
Econ210 – Mod2 / Determinants of Demand & Supply
Rubric
Criteria Ratings
25.0 pts
Question Illustration and
1
Explanation are
correct
25.0 pts
Question Illustration and
2
Explanation are
correct
25.0 pts
Question Illustration and
3
Explanation are
correct
25.0 pts
Question Illustration and
4
Explanation are
correct
Total Points: 100.0
Pts
18.75 pts
Illustration is
correct;
Explanation is
correct
18.75 pts
Illustration is
correct;
Explanation is
correct
18.75 pts
Illustration is
correct;
Explanation is
correct
18.75 pts
Illustration is
correct;
Explanation is
correct
12.5 pts
Illustration is
incorrect;
Explanation is
correct
12.5 pts
Illustration is
incorrect;
Explanation is
correct
12.5 pts
Illustration is
incorrect;
Explanation is
correct
12.5 pts
Illustration is
incorrect;
Explanation is
correct
6.25 pts
Illustration and
Explanation are
incorrect
25.0
pts
6.25 pts
Illustration and
Explanation are
incorrect
25.0
pts
6.25 pts
Illustration and
Explanation are
incorrect
25.0
pts
6.25 pts
Illustration and
Explanation are
incorrect
25.0
pts

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