Principles of Economics
Write a two (600 words) page paper in which you:
>
> Identify a relevant economic article from either the Strayer Library or a
> newspaper. The article must deal with any course concepts covered in Weeks
> 1-4.
>
> 1. In the first two (2) paragraphs, identify at least four (4) key
> points that
> the article highlights.
> 2.
> 3. In the next three to five (3-5) paragraphs, apply two (2) of the
> following
> economic concepts (supply and demand, market structures, elasticity, and
> costs
> of production) to the key points that you highlighted in Question 2.
> 4.
> 5. In your concluding paragraph, state whether you agree or disagree
> with the
> author’s comments. Provide a rationale for the response.
> 6.
> 7. Use at least three (3) quality resources in this assignment with one
Principles of Economics
Introduction
In the article ‘Super Bowl XLVIII Pricing: A Lesson In Demand Elasticity by Patrick Rishe, the author articulates the sports industry economics. The author highlights four key points in his noble article and they include a lesson in demand elasticity, creation of consumer surplus by the bowl team’s fans, geographical and socioeconomic factors, and evidence of consumer surplus in previous games. The author highlights that there is a high possibility that prices will increase for premium seats and he stipulates evidence……………….