JiTT2
BEA683 Economics for Managers
JiTT 2
In order to prepare for the next class March 10 you are required to read
Cowen and Tabarrok, Modern Principles of Economics, Second Edition, Chapters 3 and 4.
__________Zeyu Jiang__________(Name) __________157089__________(Student ID)
Submission Instructions for Question 1
Your answer to Question 1 must be in Word format. You must submit your assignment through the ‘JiTT Assignment-Submission’ icon located on the home page of the BEA683 MyLO site. This assignment will not be accepted after 9.00 am, March 9. Please ensure you include your name and ID number.
If you have problems submitting your assignment you MUST contact your lecturer immediately explaining the situation by email. In your email you must clearly identify in the title of your email that you experiencing a problem in BEA683 Economics for Managers In the body of the email explain the specific problem.
As a by-product of reading your answers I will form an opinion of your individual effort but your grade here is based on your participation—I will not be giving you a grade on the content of your answers as the exercise is purely formative rather than summative.
Although it is perfectly sensible for you to discuss your answer, the writing up of this assignment is supposed to be your own individual effort. The standard rules of attribution of authorship of ideas apply. And note I will take action against any case of plagiarism.
The question will assist the material to be covered in next week’s classes.
Submission Instructions for Questions 2 and 3
Answer the questions in the quiz section of MyLO.
JiTT 2 Demand and Supply and Equilibrium Price
Question 1
a. If oil executives read in the newspaper that massive new oil supplies have been discovered under the Pacific Ocean but will likely only be useful in 10 years, what is likely to happen to the supply of oil today? What is the likely equilibrium impact on the price and quantity of oil today? Draw the
JiTT 2
In order to prepare for the next class March 10 you are required to read
Cowen and Tabarrok, Modern Principles of Economics, Second Edition, Chapters 3 and 4.
__________Zeyu Jiang__________(Name) __________157089__________(Student ID)
Submission Instructions for Question 1
Your answer to Question 1 must be in Word format. You must submit your assignment through the ‘JiTT Assignment-Submission’ icon located on the home page of the BEA683 MyLO site. This assignment will not be accepted after 9.00 am, March 9. Please ensure you include your name and ID number.
If you have problems submitting your assignment you MUST contact your lecturer immediately explaining the situation by email. In your email you must clearly identify in the title of your email that you experiencing a problem in BEA683 Economics for Managers In the body of the email explain the specific problem.
As a by-product of reading your answers I will form an opinion of your individual effort but your grade here is based on your participation—I will not be giving you a grade on the content of your answers as the exercise is purely formative rather than summative.
Although it is perfectly sensible for you to discuss your answer, the writing up of this assignment is supposed to be your own individual effort. The standard rules of attribution of authorship of ideas apply. And note I will take action against any case of plagiarism.
The question will assist the material to be covered in next week’s classes.
Submission Instructions for Questions 2 and 3
Answer the questions in the quiz section of MyLO.
JiTT 2 Demand and Supply and Equilibrium Price
Question 1
a. If oil executives read in the newspaper that massive new oil supplies have been discovered under the Pacific Ocean but will likely only be useful in 10 years, what is likely to happen to the supply of oil today? What is the likely equilibrium impact on the price and quantity of oil today? Draw the