Buy Coursework: Coursework Writing- explain what you learned and how it relates to microeconomic principles.

Buy Coursework: Coursework Writing- explain what you learned and how it relates to microeconomic principles.

. Pick a product and find out its price from three different sellers. Be careful to make sure that the quality of the product doesn’t vary from the three different sellers. For instance, if you pick a can of soda, be sure to compare the same brand and the same size from each of the three sellers. Do not do this online, do it at actual “brick and mortar” stores.
• Write a brief report identifying the product you picked, who the seller was (name and/or location of store) and each of the three prices.
• Calculate the average (mean) of the three prices and the range of prices (the difference between the highest and lowest prices).
• Calculate the ratio of the range over the average. Report the ratio in decimal form.

2. Do the same thing online, be sure to include any shipping costs. It can be either the same product as in (1) or you can pick a different product.

3. Briefly summarize what you learned and how it relates to microeconomic principles. Is there a consistent “market equilibrium” price. If not, i.e. if there is a significant range relative to the average, why do you think that is? Was there a greater or lesser relative range online than in actual stores? If so, why?