Writing Assignment - Supply and Demand:
15 pts.
Due Monday Nov 7.
Imagine that you have decided to open a small ice cream stand on campus called Ice-Campusades. You are very excited because you love ice cream and this is a fun way for you to apply your business and economics skills. Here is the first month’s scenario--you order the same number (and the same variety) of ice creams each day from the ice cream suppliers, and your ice creams are always marked at $1.50 each. However, you notice that there are days when ice creams remain unsold but other days when there are not enough ice creams for the number of customers.
Use your knowledge of the factors that cause shifts in demand, and in a multi-paragraph essay, provide at least three reasons why ice cream sales fluctuate in this manner. (Apply only the factors you think are applicable to explaining this scenario.)
Next assume that a month later, the school allows a competing student the right to sell ice creams on school property. (The number of students on campus remains unchanged.) What do you think will happen to the price of ice cream at your campus? Explain in detail.
Find your ID at writing-id
It is foldvarystudent# where # is your student number.
1. Access www.measuredsuccess.com
2. Click on "Login".
3. Enter your name by clicking on the My Account¯ tab located at the top right of the screen after logging in.
4. Copy your essay into the web site.
5. Log out