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Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills, using the following rubric.

Points: 200 Assignment 1: Demand Estimation

Criteria Unacceptable

Below 70% F

Fair

70-79% C

Proficient

80-89% B

Exemplary

90-100% A

1. Compute the elasticities for each independent variable. Note: Write down all of your calculations.

Weight: 15%

Did not submit or incompletely computed the elasticities for each independent variable.

Partially computed the elasticities for each independent variable.

Satisfactorily computed the elasticities for each independent variable.

Thoroughly computed the elasticities for each independent variable.

2. Determine the implications for each of the computed elasticities for the business in terms of short-term and long- term pricing strategies. Provide a rationale in which you cite your results. Weight: 15%

Did not submit or incompletely determined the implications for each of the computed elasticities for the business in terms of short-term and long-term pricing strategies. Did not submit or incompletely provided a rationale in which you cite your results.

Partially determined the implications for each of the computed elasticities for the business in terms of short-term and long- term pricing strategies. Partially provided a rationale in which you cite your results.

Satisfactorily determined the implications for each of the computed elasticities for the business in terms of short-term and long-term pricing strategies. Satisfactorily provided a rationale in which you cite your results.

Thoroughly determined the implications for each of the computed elasticities for the business in terms of short-term and long-term pricing strategies. Thoroughly provided a rationale in which you cite your results.

3. Recommend whether you believe that this firm should or should not cut its price to increase its market share. Provide support for your recommendation.

Weight: 10%

Did not submit or incompletely recommended whether you believe that this firm should or should not cut its price to increase its market share. Did not submit or incompletely provided support for your recommendation.

Partially recommended whether you believe that this firm should or should not cut its price to increase its market share. Partially provided support for your recommendation.

Satisfactorily recommended whether you believe that this firm should or should not cut its price to increase its market share. Satisfactorily provided support for your recommendation.

Thoroughly recommended whether you believe that this firm should or should not cut its price to increase its market share. Thoroughly provided support for your recommendation.

4a. Assume that all the factors affecting demand in this model remain the same, but that the price has changed. Further assume that the price changes are 100, 200, 300, 400, 500, 600 cents. Plot the demand curve for the firm.

Weight: 5%

Did not submit or incompletely plotted the demand curve for the firm.

Partially plotted the demand curve for the firm.

Satisfactorily plotted the demand curve for the firm.

Thoroughly plotted the demand curve for the firm.

https://blackboard.strayer.edu/bbcswebdav/institution/ECO/550/1156/Week3/Week%203%20Assignment%201%20Grading%20Rubric.html[4/10/2017 9:36:40 AM]

4b. Assume that all the factors affecting demand in this model remain the same, but that the price has changed. Further assume that the price changes are 100, 200, 300, 400, 500, 600 cents. Plot the corresponding supply curve on the same graph using the following MC / supply function Q = -7909.89 + 79.1P with the same prices.

Weight: 5%

Did not submit or incompletely plotted the corresponding supply curve on the same graph using the following MC / supply function Q = -7909.89 + 79.1P with the same prices.

Partially plotted the corresponding supply curve on the same graph using the following MC / supply function Q = -7909.89 + 79.1P with the same prices.

Satisfactorily plotted the corresponding supply curve on the same graph using the following MC / supply function Q = -7909.89 + 79.1P with the same prices.

Thoroughly plotted the corresponding supply curve on the same graph using the following MC / supply function Q = -7909.89 + 79.1P with the same prices.

4c. Assume that all the factors affecting demand in this model remain the same, but that the price has changed. Further assume that the price changes are 100, 200, 300, 400, 500, 600 cents. Determine the equilibrium price and quantity.

Weight: 5%

Did not submit or incompletely determined the equilibrium price and quantity.

Partially determined the equilibrium price and quantity.

Satisfactorily determined the equilibrium price and quantity.

Thoroughly determined the equilibrium price and quantity.

4d. Assume that all the factors affecting demand in this model remain the same, but that the price has changed. Further assume that the price changes are 100, 200, 300, 400, 500, 600 cents. Outline the significant factors that could cause changes in supply and demand for the low-calorie, frozen microwavable food. Determine the primary manner in which both the short-term and the long-term changes in market conditions could impact the demand for, and the supply, of the product.

Weight: 10%

Did not submit or incompletely outlined the significant factors that could cause changes in supply and demand for the low-calorie, frozen microwavable food. Did not submit or incompletely determined the primary manner in which both the short-term and the long-term changes in market conditions could impact the demand for, and the supply, of the product.

Partially outlined the significant factors that could cause changes in supply and demand for the low-calorie, frozen microwavable food. Partially determined the primary manner in which both the short-term and the long-term changes in market conditions could impact the demand for, and the supply, of the product.

Satisfactorily outlined the significant factors that could cause changes in supply and demand for the low-calorie, frozen microwavable food. Satisfactorily determined the primary manner in which both the short-term and the long-term changes in market conditions could impact the demand for, and the supply, of the product.

Thoroughly outlined the significant factors that could cause changes in supply and demand for the low-calorie, frozen microwavable food. Thoroughly determined the primary manner in which both the short-term and the long-term changes in market conditions could impact the demand for, and the supply, of the product.

5. Indicate the crucial factors that could cause rightward shifts and leftward shifts of the demand and supply curves for the low-calorie, frozen microwavable food.

Did not submit or incompletely indicated the crucial factors that could cause rightward shifts and leftward shifts of the demand and

Partially indicated the crucial factors that could cause rightward shifts and leftward shifts of the demand and supply curves for the low-calorie,

Satisfactorily indicated the crucial factors that could cause rightward shifts and leftward shifts of the demand and supply curves for the low-

Thoroughly indicated the crucial factors that could cause rightward shifts and leftward shifts of the demand and supply curves for the low-calorie,

https://blackboard.strayer.edu/bbcswebdav/institution/ECO/550/1156/Week3/Week%203%20Assignment%201%20Grading%20Rubric.html[4/10/2017 9:36:40 AM]

Weight: 10% supply curves for the low- calorie, frozen microwavable food.

frozen microwavable food.

calorie, frozen microwavable food.

frozen microwavable food.

6. 3 references Weight: 5%

No references provided Does not meet the required number of references; some or all references poor quality choices.

Meets number of required references; all references high quality choices.

Exceeds number of required references; all references high quality choices.

7. Writing Mechanics, Grammar, and Formatting Weight: 5%

Serious and persistent errors in grammar, spelling, punctuation, or formatting.

Partially free of errors in grammar, spelling, punctuation, or formatting.

Mostly free of errors in grammar, spelling, punctuation, or formatting.

Error free or almost error free grammar, spelling, punctuation, or formatting.

8. Appropriate use of APA in- text citations and reference section Weight: 5%

Lack of in-text citations and / or lack of reference section.

In-text citations and references are provided, but they are only partially formatted correctly in APA style.

Most in-text citations and references are provided, and they are generally formatted correctly in APA style.

In-text citations and references are error free or almost error free and consistently formatted correctly in APA style.

9. Information Literacy / Integration of Sources Weight: 5%

Serious errors in the integration of sources, such as intentional or accidental plagiarism, or failure to use in-text citations.

Sources are partially integrated using effective techniques of quoting, paraphrasing, and summarizing.

Sources are mostly integrated using effective techniques of quoting, paraphrasing, and summarizing.

Sources are consistently integrated using effective techniques of quoting, paraphrasing, and summarizing.

10. Clarity and Coherence of Writing Weight: 5%

Information is confusing to the reader and fails to include reasons and evidence that logically support ideas.

Information is partially clear with minimal reasons and evidence that logically support ideas.

Information is mostly clear and generally supported with reasons and evidence that logically support ideas.

Information is provided in a clear, coherent, and consistent manner with reasons and evidence that logically support ideas.