module 12 assignment A+ Writers | apluswriters.net

Instructions:
First Part–The first part of this assignment is for you to watch two video clips of Economics of Super Size Me. What would happen if you ate all your meals at McDonald’s for an entire month—without ever working out? Super Size Me, a documentary by Morgan Spurlock, endeavored to find out. At the end of the month, Spurlock gained 30 pounds, and his cholesterol and blood pressure rose significantly.
1. Super Size me –Intro

https://www.youtube.com/watch?v=MQQMr0-NpQ4

2. Supersize Me in 7 mins “How too much of McDonald’s make you feel”

https://www.youtube.com/watch?v=S9__23-zjhM&feature=emb_logo

Second Part– The fast food industry business model is to provide filling food at a low cost. What McDonald’s lacks in quality, they make up for in quantity. Each value meal provides a tremendous number of calories. This provides quite a contrast with fine dining. At fancy establishments, the portions are smaller by design. You are to answer the following questions and upload your answers on to Canvas:

  1. What makes someone willing to pay significantly more when dining out at fancy establishments even though the portions are quite small? The answer will not be as simple as people pay for the service and nice environment. The question asks “why” they are willing to pay for that. When answering this question, please refer to the concept of marginal and total utility learned in this module.
  2. McDonald’s example here is a lot like water in the diamond-water paradox. Please discuss this point how you understand this statement. Again, please refer to the concept of marginal and total utility we learned in this module to answer this question.
  3. Please come up with at least two examples of the diamond-water paradox. Note that luxury goods do not automatically mean “diamond” and cheap (inferior) goods do not automatically mean “water.”

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