Microeconomics Dialogue question

Microeconomics Dialogue question

Microeconomics Dialogue question. For all posts: direct quotes (more than 3 words in a row from an author) and paraphrases (your words but the author’s ideas) must be cited with (Author, date, p. #) or (para. #) or (pp. #-#). There are several creative ways to accomplish this. Refer to APA and our examples in Course Resources/Writing Samples. References appear immediately after the discussion for dialogues only. References must be in proper APA format. Additional pagination issues include: use Times New Roman, 12pt, 1″ margines, indented paragraphs, and double spaced.

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Respond to the following dialogue question(s). DO BOTH POSTS THIS WEEK:

Post 1. The book provides a short description of some work by Dr. Ronald Coase (who won a Nobel Prize for his work). Do an online search to learn a bit more about the “Coase Theorem”. Some economists see this theorem as a tautology, while others see it as powerfully insightful. Provide one original post about the Coase Theorem. Discuss how practical it may be for two entities (individuals, corporations, etc.) to meet the criterion that Prof Coase outlines. Describe a personal example of a time when you created, or were impacted by a positive or negative externality. Would Prof. Coase’s approach have helped in your case? If not, what other remedies might be available?

If you cannot come up with an example, let me provide some thoughts: Exhaust emanating from a nearby (or even distant) car; Second hand smoke; you save money by pouring your used motor oil in a sewer; any aspect of the drug trade (WLO 3,5)

Post 2. Describe a situation in which you considered the decreasing marginal utility (to you, personally) of a particular product or service. What effect on your behavior did this concept have? What did this do to the price you might be willing to pay for the second (third, fourth, etc.) product or service at that time. If you were marketing this product how would this knowledge help you? Would it affect your decision on how/when to run specials? (WLO 1,4)

Your submission should look like:

Combine BOTH POSTS into one dialogue. Label the paragraphs Post 1 & Post 2.
Very brief introduction to your discussion (do NOT cut and paste the discussion question).
Present your argument: include an explanation of the concepts & techniques etc.
Support your argument.
When all is done, give a brief conclusion.
Provide cites and references as required or needed.

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