A difference in opportunity costs between businesses can lead to a comparative advantage in the production of a good and the decision to trade.
For this discussion, first play the simulation games Comparative Advantage (Without Trade) and Comparative Advantage (With Trade) in the MindTap environment. Then, you will share your experiences playing the games. Your work in this discussion will directly support your success on the course project.
In your initial post, include the image (screenshot) of your simulation report in your response. Then, address the following questions:
Imagine you own your own business. How would you evaluate opportunity costs and comparative advantage when making business decisions?
Look up a Production Possibilities Frontier (PPF) graph. What role does the production possibility frontier (PPF) model have in making business decisions regarding specialization and trade?
In your responses, comment on the posts of at least two peers whose simulations had different outcomes than your own. Research and provide examples of companies in the news that are relevant to your peers’ comments on the value of comparative advantage for making their business decisions.
Category: Microeconomics
You can choose to write about individual demand or market demand for certain goods (like the Ozempic medicine), profit-maximizing decisions of certain firms, or characteristics of certain industry structures. I have attached the rubric to guide you to exactly what’s needed in this paper.
The topic I had chose already is unemployment payments can you do it on that still but these are the instructions Purpose:
To discuss your individual viewpoint about the tradeoffs between equity and efficiency while analyzing a particular transfer payment program.
Requirement:
Select a type of transfer payment and analyze the pros and cons of the current system in the United States or abroad and how the the system could be improved.
Examples of transfer payments would be Social Security, Medicare, unemployment payments, welfare programs, etc. There are many more, so don’t let this list limit you. You can write about almost any type of transfer payment you would like.
In writing the paper you must include the following areas:
Part 1: Use positive economics* to analyze the current situation.
Part 2: Use normative economics** to analyze the current situation. Do you believe the current situation comes down too much on the side of equity or efficiency? Explain.
Part 3: Come up with a plan for how you believe the situation could be improved. In this section, you will need to come up with at least one (1) specific policy that the government could implement and how you believe this policy will change the situation both domestically and potentially globally.
*Positive economics is an analysis of facts; what is.
**Normative economics uses economics to make value judgments about the situation.
Submit a report that is 4-5 pages long, typed double-spaced.
This paper is a formal, college-level paper which means that it should be written in that style. Do not use personal pronouns like “I,” “we,” “me,” “you,” etc. It should be well written with a introduction and conclusion and use appropriate citation.
Download the latest copy of Word
Submission:
Paper must be submitted in Canvas through this assignment.
Verify that you paper has been submitted to the Canvas assignment. If you can’t see the assignment, then I can’t see the assignment and I can’t grade it.
LATE SUBMISSIONS: The assignment will close exactly at 11:59 pm on the due date. It is your responsibility to submit the paper by that time. Even if it is only 1 minute late, it will not be accepted. Do not wait until the last minute to submit. You never know what could happen. You will have the opportunity to make revisions for a better grade, but that means you need to submit on time so I can grade the paper and provide feedback.
Similarity Percentage:
The similarity percentage should be less than 25% for this paper.
In my experience, most students who have higher similarity percentages are not purposely plagiarizing, but have either used too many quotes or inadvertently used similar vocabulary, phrasing and sentence structure to the original source and that will also be flagged. If the similarity percentage is higher than 40%, the entire paper will receive a zero.
You may submit the paper as many times as you like before the due date to check the similarity percentage. Please note that after the first 3 submissions the report will be generated automatically, but for all subsequent submission you will have to wait at 24 hours for the report.
Research:
Each student will develop and analysis based on the information provided and the questions asked in each activity. Research is required and the best place to find that is through the Hartnell Library. APPROPRIATE SOURCES: It is your responsibility to choose sources that have been peer-reviewed or fact-checked. Do not use blog posts, websites that sell papers, or any source that does not have a reasonable assurance of being fact-checked at a minimum.
Wikipedia is not an acceptable source!
I do review the sources. If I find a source that does not meet the criteria it will significantly impact the grade of the paper.
Formatting:
Must use APA 7 citation format.
All references should be cited (5 sources minimum are required)
Each project needs to be in a single document (.doc or .pdf formats would work best) and submitted in Canvas through the appropriate assignment. Do not submit a .txt document because the formatting will not be correct and it will significantly impact the grade.
Typed, double-spaced in a readable 12-point font with margins no larger than 1” on all sides.
Part I – (this draws on opportunity cost (Ch 1) and markets (Ch 3))
Describe the market for kidney organs, as it would be in a free market without government intervention, using what you have learned about scarcity, marginal analysis in decision-making, and markets. You must include a discussion of resources, supply and demand, as well as marginal benefits and marginal costs. Think of this as an explanation of the pros and cons of the market using specific economic terminology and concepts learned in this course.
Describe the benefits and costs but leave the discussion of organ rationing and other solutions to the problems in this market for the next part. Describe this market using the supply and demand graphical model; reference your graph in your description. Include “graph 1” of this market at the end of the paper in an appendix (not included in page count). This should be a discussion without mentioning Price Controls, only discuss how the kidney organ market would be without government intervention. Feel free to use any stats or data that you find through your own research – make sure you use multiple different economic terms from key concepts in chapters 1 and 3 throughout this part of the paper or you will not earn a complete on this assignment. Each individual student is required to determine what graph they would like to use in their analysis to describe the situation above; the graph can be created by the students or found through other sources as long as proper citation in provided.
Part II – (this draws on government (Ch 4) to improve the discussion made in Part I)
Consider the reasons why the market for kidney organs is not a free market in the US, specifically discuss equity concerns. Expand on your discussion of the market from Part I, using what you have learned about government interventions/price controls.
Discuss the current government intervention in the Kidney Market in the U.S. Describe this market – comparing the free market and to the government intervention in a graph – add to the supply and demand graphical model “graph 1” OR include a separate supply and demand graphical model “graph 2” or you will not earn a complete on this assignment; reference and discuss your graph in your paper. Explain the current government intervention and exactly how it corrects the problems of the free market. Include any other beneficial aspects of the intervention that you find through your own research – make sure you use multiple different economic terms from key concepts chapter 4 throughout this part of the paper or you will not earn a complete on this assignment. Each individual student is required to determine what graph they would like to use in their analysis to describe the situation above; the graph can be created by the students or found through other sources as long as proper citation in provided.
Also discuss other Donation Systems Around the World, no need to add a graph here. Explore the policies that are currently implemented across the globe (i.e. some discussed in the articles include – routine removal, presumed consent, organ donor points, “no give, no take”, etc.). Evaluate the limitations of these policies. Also consider how these policies fare in terms of the efficiency vs. equity debate. (You do not need to critique them all, just select from 2 or 3 different countries that you find interesting/appealing.)
After:
Part I – (this draws on welfare analysis regulation (Ch 4) to improve the argument made in the Rough Draft as well as describe an unintended consequence)
Consider regulations in the US kidney market and the negative aspects of the government intervention. In addition to improving your paper based on the feedback you received, add to your previous discussion of the US kidney market using what you have learned about DWL and welfare analysis; specifically discuss efficiency concerns as a result of the intervention. You may have discussed DWL in the rough draft but you should elaborate on that discussion and really focus on what causes the DWL and in what ways is the loss generated, exactly who is impacted and how; give specific examples. Make sure you use multiple different economic terms from key concepts in chapter 4 throughout this part of the paper.
Part II – (this requires you to offer a creative alternate solution to the consequence you described above)
Now put yourself in the role of a social advocate. Noting the problems you presented above, what solutions do you have to help protect society? Offer an alternative solution that addresses the issues you noted in the rough draft and avoids the problems you noted above. Be creative, you are not limited to possible government interventions but should also consider potential interventions from other groups in society.
Sources provided by teacher:
https://futurism.com/neoscope/sale-human-organ
https://www.wsj.com/articles/SB10001424052748703481004574646233272990474
https://www.channelnewsasia.com/asia/kidney-for-sale-philippines-illegal-organ-trade-857551
https://www.forbes.com/sites/robertpearl/2019/05/28/kidneys/?sh=6e4b078593ae
https://www.organdonor.gov/
https://www.kidney.org/
REACTION PAPER RUBRIC
I. Cite the author’s economic issue or issues
II. Accept or refute the author’s contentions
III. Substantiate your argument with economic concepts and theories
IV. If possible, posit an alternative solution to the economic issue or issues
V. Pen an original 5-page Reaction Paper—PLAGIARISM IS VERBOTEN!
Bibliographies and footnotes are not necessary. Quotations must be attributed to
the individual who first wrote or uttered the sentence, passage or aphorism.
choose from the following 3 articles listed below.
I have attached the template teacher is requiring. I have also attached some of the teachers other requirements. The teacher also provided us with an example. I have also attached that. I have chosen the topic “Labor Laws”.