MICROECONOMICS:

Supply and Demand (Ch. 3)

SAMPLE ARTICLE:
http://www.cnn.com/2000/US/07/09/chicago.gas.prices/

Find a newspaper article on an INDIVIDUAL PRODUCT whose PRICE and QUANTITY SOLD has changed. Write a SHORT paper WITH GRAPHS that analyses the article explaining why the price and/or quantity has changed. You must discuss which non-price determinants of demand or supply have changed. These determinants must be mentioned in the article and it must mention at least TWO non-price determinants that have changed. If the article mentions more, then you must discuss them in your paper as well. Use supply and demand graphs to show changes in the equilibrium price and/or quantity. Clearly state what happened to the non-price determinants, what happened to supply and demand, and what happened to the price and quantity sold of the product as a result.

General Instructions

• The article must be stapled to the paper and it must be printed or taped onto a 8 1/2 by 11 inch piece of paper.
• This extra credit project is for 10 possible points.
• The paper can be rewritten until the 10 points are received
  • if you receive 1 point it means that you need a different article
  • if you receive 3 points, the article is OK, but your analysis is lacking
  • if you receive 10 points, you are done
• ALL PAPERS MUST:
  • be typed
  • be double spaced
  • include student's name and CLASS MEETING TIME
  • have NO plastic covers, etc.
  • be stapled in the upper left-hand corner. NO paper clips or folding!!!
  • include graphs
• graphs must be discussed IN THE PAPER
• you must tell the reader when to refer to the graph
• papers that are rewritten must be handed in with ALL previous drafts stapled together.