Price Sharing

Directions

Write an outline and a paper on an economics topic from chapters 7 and 8 in the Heyne text.

Look at the discussion questions at the end of chapters 7 and 8 in the Heyne text for ideas on papers to write.

You will write an outline that organizes your paper and includes an introduction and a conclusion. This is a separate deliverable and is intended to assist students in writing outlines and organization.

The papers should demonstrate your understanding of the economic issues and should follow a format similar to:
• Introduction
• Background
• The pros to your concept
• The opposing points of view
• Conclusion

The papers should follow APA and have properly cited references. (if you have any questions on this please see the information in “course information” and then feel free to ask)

CHAPTER 8
PRICE SEARCH

You and your fiancée are shopping for wedding rings. After showing you a sample of his wares, the jeweler asks, “What price did you have in mind?”
(a) Why does he ask this questions?
(b) If you tell him you don’t plan to spend more than $200 on each ring, are you helping him find the rings to sell you or the price to charge for the rings you prefer?
(c) What might be a good technique for finding out the lowest price at which the jeweler is willing to sell the rings you like?