Demand curve facing original ethiopian restaurant

Assignment Help Microeconomics
Reference no: EM13700911

Suppose that a restaurant offering Ethiopian cuisine opened in a well diversed city. And became a great success. What would you predict would happen in the restaurant market for that city?

 

Draw a graph illustrating the likely changes in the shape and position of the demand curve facing the original “Ethiopian” restaurant in the above problem.

Reference no: EM13700911

Questions Cloud

Derive janes marginal rate of return schedule : If Jane gets one year of college she will earn $20 per hour. If Jane gets two years of college she will earn $22 per hour. If Jane gets three years of college, she will earn $24 per hour. If Jane finishes college, she will earn $25 per hour. Jane’s d..
Currently considering two alternative education-work options : John lives for three periods. He is currently considering two alternative education-work options. Alternative 1: he can start working immediately, earning $100,000 in period 1, $110,000 in period 2, and $120,000 in period 3.
What is the gross return on the investment : Purdue’s 20 year net Return on the Investment is $591,700 and the total 4 year cost is $91,300. What is the gross return on the investment?
A proposal has been put forward to remove a dam on a river : A proposal has been put forward to remove a dam on a river, which currently produces hydroelectric power. You have been hired to estimate the benefits of this action. List several benefits, and how would you go about measuring each benefit.
Demand curve facing original ethiopian restaurant : Suppose that a restaurant offering Ethiopian cuisine opened in a well diversed city. And became a great success. What would you predict would happen in the restaurant market for that city?
Planning to purchase an enterprise resource planning system : The engineering team at Manuel’s Manufacturing, Inc., is planning to purchase an enterprise resource planning (ERP) system. The software and installation from Vendor A costs $380,000 initially and is expected to increase revenue $125,000 per year eve..
Perfect competitor would produce unit and charge : A monopolist with a straight-line demand curve finds that it can sell one unit at $7 each or seven units at $1 each. Its marginal cost is constant at $6 per unit.
What is anticipated benefit-cost ratio if the interest rate : Flood damage in the Brush Creek area averages $7,000 annually. Civil engineers with floodplain expertise have designed a series of small dams to restrain the flow. They will cost $25,000 and will involve annual maintenance charges of $500. What is th..
What is equilibrium price and quantity of apartment rental : Suppose the demand for apartment rentals in Los Angeles is Q = 1000 - P and the supply of apartment rentals is Q = 4P. What is the equilibrium price and quantity of apartment rentals in LA? Suppose the government imposes a price ceiling of $150. What..

Reviews

Write a Review

Microeconomics Questions & Answers

  Treasury bills usually less than the federal funds rate

Explain carefully why interest rates on each of the following short-term financial instruments will be closely tied to the level federal funds rate: short-term bank CDs, short-term Treasury bills, short-term commercial paper. Why is the yield on shor..

  How does having two editions affect the optimal price

One additional advantage Microsoft has is its ability to create a variety of Vista products, some of which have more features than others. Does it make sense for Microsoft to differentiate its product into basic and ultimate Vista editions

  If the price elasticity of demand for good y

If the price elasticity of demand for good Y is – 0.75, when there is a 30 percent increase in price, we can conclude that quantity demanded

  Explain the disadvantages of preventing the federal budget

What are the advantages and disadvantages of preventing the federal budget from ever being in deficit. Explain why the high employment deficit or surplus might differ from the actual budget deficit or surplus.

  Retained earnings to finance an investment project

A firm has enough retained earnings to finance an investment project. For this firm, the market interest rate:

  Long-run total cost-long-run average cost

The production engineers at Impact Industries have derived the optimal combinations of labor and capital (the only two inputs used by Impact) for three levels of output: 120, 180, and 240 units of output:

  Discuss the effect of outsourcing of production on gdp

After viewing the video multimedia resources, reflect on the challenges facing the U.S. labor force due to outsourcing of jobs overseas.

  Relate concepts of cross elasticity and income elasticity

Think of another good that you have purchased recently (or you could continue with the good you selected in TDA I). Be specific (e.g. is it breakfast cereal in general or Cheerios cereal specifically). If the price of this item increases, how woul..

  1 illustrate the following incidents with supply and demand

1 illustrate the following incidents with supply and demand graphs indicating the change in equilibrium price and

  A university spent 18 million to install solar panels atop

a university spent 1.8 million to install solar panels atop a parking garage. these panels will have a capacity of 500

  How much does marginal revenue change when add more labor

The marginal revenue product of labor is: a. how much labor can be purchased with the revenue from the sale of one more unit of the good. b. how much does the marginal revenue change when you add more labor. c. the same as the marginal revenue produc..

  The prisoner-of-war camp described by radford

The prisoner-of-war camp described by Radford in the text (Application Box 7.1) periodically received large shipments of cigarettes from the Red Cross or other sources. How did cigarette shipments affect the price level (the prices of goods in terms ..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd