Question Description
Im trying to study for my Social Science course and I need some help to understand this question.
Student
#1 Response
Hello Prof and Classmates
My congressman is Patrick J. Tiberi (R)
The 12th Congressional District.
250 E Wilson Bridge Rd
Suite 100
Worthington, Ohio 43085
Fax: 614-818-0887
On March 3rd of this year congressman Patrick J. Tiberi voted to
keep funding the Department of Homeland Security (DHS) until September to help
protect our nation and he also stated I remain firmly opposed to the
presidents overreach on immigration. (Tiberi, 2015).
I agree with this bill it keeps the Department of Homeland Security (DHS)
founded for six more months and I believe that right now our national security
is more important than it has ever been with Iran trying to obtain a nuclear
program and it also cuts off all founding to Obamas executive order on
giving more than five million illegal immigrants amnesty, America has a
national debt that has already reached the trillions we cant afford to take on
more debt than we have accumulated over the last decade by giving five million
illegal immigrants citizenship all its going to do is force us into another
recession.
Reference: http://tiberi.house.gov/contact/
Reference: http://tiberi.house.gov/news/documentsingle.aspx?DocumentID=394742
Student
#2 Response
Good evening Professor and classmates,
My Congressman is Joseph Crowley who represents the Bronx 14th
Congressional District of New York.
2800 Bruckner Blvd., Suite 201
Bronx, NY 10465
Phone: (718) 931-1400
Education is the key to a lifetime of success and is essential to our
nations future. Joe supports a comprehensive approach to education that begins
with strong early childhood programs, continues through a robust K-12
education, and makes college more affordable and accessible for all Americans.
Joe believes investing in education has never been more important.
Investment today will lay the cornerstone of tomorrows economy and enable the
next generation of Americans to compete on a global scale, maintain Americas
standing as the worlds top economy and ensure U.S. workers are at the
forefront of developing new and emerging industries. Only with a renewed focus
on education at the national, state and community level can we ensure a
prosperous future for our children and our country.
I agree with the way Joe thinks about education I also feel that education
is the key. The more a person knows whether young or old the m ore successful a
person could be. I always tell my youngest nephew never stop learning get as
much education as possible. As a young black man in the world in this day and
age you can go very far with an education.
http://crowley.house.gov/issue/education
ORIGINAL QUESTION-Tailored Clothes.docx
STUDENT
#1
Tailors and computers
In this scenario, Im willing to pay
$200 and the tailor was originally prepared to sell at $100. This would have
made a $100 consumer surplus for myself, the amount between what I am willing
to buy the dress for and the amount the tailor is willing to sell it for
(Krugman & Wells, 2013). This scenario would not allow the tailor to have
any producer surplus. When I get to the shop, the price is now $150 so my
consumer surplus is now $50 instead of $100. The tailor, however now has a
producer surplus of $50. The price increase reduced my surplus and increased
the surplus of the producer.
A similar situation occurred when I
recently bought a computer. I was willing to pay within a certain range. I
shopped online to see what features I could get for the price I was willing to
spend. I didnt, however, want to have a computer shipped to the house and
sitting on the porch until I got home. So, I went into a few stores after work,
determined to pick something up without having to have it delivered. I found
that the stores I was able to get to during the week did not have the selection
of what I had found online and the prices were a little more for the same
features. I persevered and was able to find a good choice in a store but did
pay a little more than what I could find online so this decreased my consumer
surplus somewhat, possibly bringing my surplus to nearly zero.
STUDENT #2
Hello Class and Professor,
Individual consumer surplus is the net gain to an individual
buyer from the purchase of a good (Wells, 2013). It equals the
difference the buyers willingness to pay and the price paid (Wells,
2013). In this scenario at the tailor shop I would be willing to pay $200
for the dress. When I arrive at the store the price of the dress is
$150. I would gain a surplus of $50. This is the consumer surplus
of the product.
Individual producer surplus is the net gain to an individual
seller from selling a good (Wells, 2013). Its equal to the
difference between the price received and the sellers cost (Wells, 2013).
In this scenario the tailor shop is willing to sell the item for $100.
The seller then puts the dress on the floor for $150. Which gives the
seller a surplus of $50. This is the producer surplus of the product.
Producer and consumer surplus affect buying and manufacturing
decisions because it affects their resources. These surpluses let them
know what consumers are buying and what price they are buying them at.
This gives them a bigger picture on how much they need to put into each product
and what resources to use to be effective.
Recently I had to find an exhaust repair shop to repair my
exhaust on my 2000 Suzuki Grand Vitara. I called around and was told it
would be at least $100. I was willing to pay $50 at the max because it
was just a hole and not the whole exhaust. Finally I found a shop that
did it for $30 and it only took 15 minutes. So my surplus was $20.
The shops surplus was probably $20 because they just welded a pipe in place
where the hole was.
