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Question: Microeconomics Poster Project (100 points) Tackling Social Inequality Your dream has finally come...

Show transcribed image text Microeconomics Poster Project (100 points) Tackling Social Inequality Your dream has finally come true! For the next few weeks, you life of an extraordinarily gifted who has earned are remarkably also have a heart of more than what she could spend in a ifetime. Not governments and nonprofit organizations and justice. You notice that there are so many problems in the world and so little resources that enough for will simply not be able to provide and help adequately. Seeing how you, the multi-billionnaire, more than skills (that got you yourself, family, and friends, you decide to get together with other fellow bilionnaires and put some of your wealth and decide to choose the riches in the first place) to a good cause and become social entrepreneurs. of all the world's pressing problems, you recent Years poverty to be the main challenge to tacke as inequality becoming ageater and greater concern in the All those for the cause will be putting in billion each for this project (don't worry, you will still have plenty left even after th You and your team are to present an innovative business plan to fight poverty in the country and around world to your fellow social entrepreneurs As much as it is for good works, if your proposal elected to be put into action, your names will be publicly acknowledged for bringing a society, ition you certainly would not receiving for your remembered for ages to come. other than staying within the budget of $1 billion per person, there wabe no other restrictions or limits to how creative you can get to help the poor, homeless and unemployed 1. What kind of industry would you engage in? Why? Specifically how would you run this business? 2. Under which market structure would this fall? Why? Provide an economics-based rationale behind this. 3 How would you address the four types of elasticities (demand, cross-price, income, supply)? 4 What would the consumer, producer, and total surpluses look like in this industry? Explain in relation to the perfect competition How would the short-run andlong in the industry? Will they be the same? Different? Explain 6. How much will the poor benefit in the short-run? In the long-run? Be sure to provide the following: 1. A supply and demand diagram of the market/industry Explain (i) elasticities, (ii) surpluses, and any (iii) shifts in the supply and/or demand curves 2. A market structure diagram Explain (i) costs, (ii) profit maximization, and (ii) short-run vs. long-run Fully utilize what you learned in this class whenever and as much as possible. .For additional information on what a 'social entrepreneur" is, visit: http//www.ashoka.org/social entrepreneur http://www.pbs.org/opb/thenewheroes/whatis/ http://en.wikipedia.org/wiki/Social entrepreneurship

Microeconomics Poster Project (100 points) Tackling Social Inequality Your dream has finally come true! For the next few weeks, you life of an extraordinarily gifted who has earned are remarkably also have a heart of more than what she could spend in a ifetime. Not governments and nonprofit organizations and justice. You notice that there are so many problems in the world and so little resources that enough for will simply not be able to provide and help adequately. Seeing how you, the multi-billionnaire, more than skills (that got you yourself, family, and friends, you decide to get together with other fellow bilionnaires and put some of your wealth and decide to choose the riches in the first place) to a good cause and become social entrepreneurs. of all the world's pressing problems, you recent Years poverty to be the main challenge to tacke as inequality becoming ageater and greater concern in the All those for the cause will be putting in billion each for this project (don't worry, you will still have plenty left even after th You and your team are to present an innovative business plan to fight poverty in the country and around world to your fellow social entrepreneurs As much as it is for good works, if your proposal elected to be put into action, your names will be publicly acknowledged for bringing a society, ition you certainly would not receiving for your remembered for ages to come. other than staying within the budget of $1 billion per person, there wabe no other restrictions or limits to how creative you can get to help the poor, homeless and unemployed 1. What kind of industry would you engage in? Why? Specifically how would you run this business? 2. Under which market structure would this fall? Why? Provide an economics-based rationale behind this. 3 How would you address the four types of elasticities (demand, cross-price, income, supply)? 4 What would the consumer, producer, and total surpluses look like in this industry? Explain in relation to the perfect competition How would the short-run andlong in the industry? Will they be the same? Different? Explain 6. How much will the poor benefit in the short-run? In the long-run? Be sure to provide the following: 1. A supply and demand diagram of the market/industry Explain (i) elasticities, (ii) surpluses, and any (iii) shifts in the supply and/or demand curves 2. A market structure diagram Explain (i) costs, (ii) profit maximization, and (ii) short-run vs. long-run Fully utilize what you learned in this class whenever and as much as possible. .For additional information on what a 'social entrepreneur" is, visit: http//www.ashoka.org/social entrepreneur http://www.pbs.org/opb/thenewheroes/whatis/ http://en.wikipedia.org/wiki/Social entrepreneurship