Ethical Issue and Action Plan

 

 

Write a 5 page report in which you complete the following:

Brainstorm several alternatives for resolving the ethical dilemma in the case.
Analyze alternatives for resolving the ethical dilemma and come to a conclusion.
Analyze and document the possible ramifications for at least three alternatives. Then, choose a course of action.
Apply ethical codes and standards to support the plan of action.
Explain the research methods used in multiple research studies relevant to the case, and present the findings.
Explain your course of action, using research findings from at least two studies to support your plan. You can use (but are not required to use) additional research beyond the two studies to support your plan.
The following is the recommended structure for organizing your assessment:

Create a title page: Write a title that reflects the purpose of your work. It is suggested that you use the APA Paper Template [DOCX] to format your paper according to the APA manual (current edition).
Write an introduction: For the introduction section of your paper, include the title at the top of the first page. (In APA format, the word Introduction is not used as a heading.) Briefly summarize:
The ethical issue in the case you have chosen.
How professional standards and other resources, in general terms, point toward solutions.
How the issue in general relates to larger societal problems.
Create a heading titled Applied Ethical Principles and Standards: Use the APA Ethical Principles of Psychologists and Code of Conduct to assess which of the principles and standards relate to the particular ethical issue in this case, and analyze how they do so.
Create a heading titled Alternative Solutions:
Brainstorm several alternatives for resolving the ethical dilemma in the case. Thoroughly analyze the possible ramifications for at least three alternatives and document them. Then, choose a course of action.
Explain your chosen course of action and support it based on both ethical principles and current psychological research (published within the past decade).
Create a heading title Research: Present at least two research studies that support your thinking and approach to ethics in the case. Present the research methods and findings and analyze the relevance of the findings to the case.
Create a heading titled Conclusion: Briefly summarize the importance of the problem and make a compelling appeal for implementation of your action plan.
Keep in mind that while your writing must conform to APA standards, you must explain all information in a manner that can be understood easily by a nonacademic or nonscientific audience.

 

Sample Solution

he economic concept that is being displayed in this article is (Elasticity of Demand). Elasticity of demand is the responsiveness of demand to a change in the price of a good or service. To determine whether this is a inelastic or elastic demand we need to analyse the characteristics of each type of demand.

Elastic good or service will tend to have a large variety of substitutes meaning that when the price of increases the consumer has many substitutes to change to. Most of the time elastic goods or services are luxury good and a large proportion of the consumer’s income is spend on it. When measuring the elasticity of demand the equation that is utilised is: % change in quantity demanded divided by % change in price. Hence when the coefficient is greater than one then we can identify it is an elastic good.

On the AD/AS curve this could be graphed as a very flat demand curve becoming flatter the more elastic it gets up to the point where the demand curve is horizontal which indicates perfectly elastic demand. Another characteristic of elastic demand is that it is not a habit forming good or service which means that the consumer will not get addicted to it or be in need of it allowing them to respond comprehensively to a change in price.

A further concept of PED is price discrimination, which is the “microeconomic pricing strategy where the consumers are being charged different prices for the same god or service.” Businesses are able to discriminate inelastic goods and services as they know for sure that the consumers will be obligated to continue purchasing it. This discrimination often takes place on different days of the week (e.g petrol, airfares) or different times of the day (e.g Bus fares). Looking at petrol we can see that the prices are at their lowest on Tuesday and Saturday. As its regional fuel tax, different regions will have deferred tax rates which can also be considered price discrimination.

Graph 1:

This graph gives us a scenario in which relatively flat demand curve represents an elastic demand change. There is a relatively small increase in prices (20%), which resulted in a large decrease (30%) in quantity demanded. This would have occured due to a high number of substitutes to switch to. The proportionate change in quantity demanded is greater than the proportionate change in price, hence portraying how responsive elastic demand is.

Inelastic goods or services are tend to have a small to no number of substitutes in a monopolistic market and are necessities. Since it is a necessity consumers will have no ch

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