Choose oneof the following twomicroeconomic issues:

1. Everyone’s Gasoline Problem.We are all familiar with fluctuating prices of gasoline at the pump. Why does this happen? Research the recent history of gasoline pricing in your area, and attempt to relate any fluctuations you observe to documented supply and demand factors outlined in our book. Be sure to cite any references used.
   
2. Ethical Issues in Business.It seems that every day lately we are confronted with another company that has acted at least unethically and possibly illegally in the operation and financial reporting of their company’s business dealings. Briefly discuss one of these issues and then see if you can relate the issue to ANY of our TCOs. That is, are there any effects on demand or on supply related to this topic? How would you expect this to affect the equilibrium price and equilibrium quantity for this company’s products and services? Is the elasticity of demand or supply affected? What about the effect on production levels and costs? Are ethical issues more likely to occur in one market type rather than another market type? You don’t have to cover all of these topics; I’ve just suggested some possible connections to our TCOs. Any connection to our TCOs is fine here.

 

**must be at least a page, cited, original answer, and able to pass “turnitin”**

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