Writing assignments are an opportunity for you to utilize your new skills as an economist. It will also help you study for exams by applying the concepts we have covered so far. To complete the assignment for full credit, you will need to do the following:

Read the article “Why there is a worldwide shortage of vanilla” by C.D. in The Economist.

Download the article by clicking here: Article
In a word document, write up your completely original responses in one paragraph (4-5 sentences ONLY) for each of the following 5 parts below:
1. (20 points) Briefly summarize the article. Are recent market prices decreasing or increasing for natural vanilla?
2. (20 points) Read section 5.4 in the textbook and think about the shape of the market supply curve for pure vanilla in Madagascar. How would you describe its shape? Do you think it is relatively elastic or inelastic?
3. (20 points) Read section 5.1 in the textbook and think about the shape of the demand curve for pure vanilla at the global market level. Do you think it is relatively elastic or inelastic? How does the availability of artificial vanilla (synthetic vanillin) affect the shape of the demand curve?
4. (20 points) The article mentions that public tastes started shifting in 2011. How would this change in tastes be captured in a supply and demand model of the market for pure vanilla? What is the predicted effect on the equilibrium price for pure vanilla?
5. (20 points) If a new higher quality synthetic vanillin became available at a lower price than pure vanilla then what would you expect to happen to global demand for pure vanilla? How would the equilibrium price change as a result?

Explain your answers to these questions in detail using concepts discussed in the textbook; however, make sure not to copy sentences directly from the lecture slides, textbook, or any other source. ZERO credit will be given if any plagiarism is evident. In the event that you share your writing assignment with classmates and they copy sentences from it then everyone will receive ZERO credit.

Remember, no late submissions are accepted.

If you have any questions, post your questions in our Course Q & A discussion board or send me an email.

Order NOW for a 10% Discount
Pages (550 words)
Approximate price: -

Why Us?

Top Quality and Well-Researched Papers

All ourbpapers are written from scratch. In fact, Clients who ask for paraphrasing services are highly discouraged. We have writers ready to craft any paper from scratch and deliver quality ahead of time.

Professional and Experienced Academic Writers

Our writers keeps you posted on your papers progress - providing you with paper outline/draft. You are also at liberty to communicate directly with your writer.

Free Unlimited Revisions

If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.

Prompt Delivery and 100% Money-Back-Guarantee

All papers are always delivered on time, in many cases quite ahead of time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.

Original & Confidential

We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.

24/7 Customer Support

Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.

Try it now!

Calculate the price of your order

Total price:

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.


Essay Writing Service

No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.


Admission Essays & Business Writing Help

An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.


Editing Support

Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.


Revision Support

If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.

× Contact Live Agents