Demand for energy in the united states

Assignment Help Microeconomics
Reference no: EM13143837

Debbie listens only to Frank Zappa or Weird Al Yankovic. She currently buys 10 Zappa and 20 Yankovic downloads per month. She would forgo Yankovic downloads for Zappa downloads at the rate of 2-to-1 whenever she has more Yankovic tunes than Zappas, but would forego only 1 Yankovic when the opposite is true. If you offered her 20 Zappa's next month, how many Yankovic downloads would she need to remain at the same level of tune-age satisfaction?

Well, you kind of need a launch point so let's assume that she has only done this for one month so she would have 10 Zappas and 20 Yankovics when you made the offer.

Zappa Offered

Zappa on Hand

Yankovic on Hand

 

Purchased

Purchased

1

10

20

2

20

10

 

 

 

The demand for energy in the United States is often described as persistently non-cyclical and not sensitive to prices effects. Describe the effect of each of the following on the demand or supply for gasoline. Further indicate the likely direction in the amount of gasoline exchanged AND the expected market price when:

a. domestic incomes increase
b. the price of natural gas declines
c. A new refinery is built and comes into service.
d. The average price of automobiles declines.

Reference no: EM13143837

Questions Cloud

Which products may have been formed during the combustion : what products may have been formed during the combustion of the gas?
Explain sulfuric acid acts as a catalyst for making esters : sulfuric acid acts as a catalyst for making esters. Write an equation showing the production of Isoamyl alcohol
What is the probability that the drug is effective : Drug is effective on 89% of women and 65% of men. It is known that 66% of the people who take the drug are women. What is the probability that the drug is effective?
What is the carrying value of the machine : Sampras Company purchased a machine for $30 000 on 1 January 2007 with an estimated life of 5 years and a residual value of zero. The straight-line method of depreciation is used. What is the carrying value of the machine on the 31 December 2008 i..
Demand for energy in the united states : The demand for energy in the United States is often described as persistently non-cyclical and not sensitive to prices effects. Describe the effect of each of the following on the demand or supply for gasoline.
Find value of the standard deviation of weekly earnings : Weekly income of more than $429.35, the value of the standard deviation of the weekly earnings of the bus drivers is 15. is it true?
How many joules of energy are necessary to heat the steam : sample of H20 with a mass of 46.0 grams has a temperature of -58.0 degrees Ceslius. How many joules of energy are necessary to heat the steam from 100.0 degrees celsius to 114.0 degrees
Demonstrate an understanding of the principles involved : Consider the meaning of the term "ecology." How do the ideas of energy and chemical cycles, community structure, biodiversity and succession fit together to form the basis of the way the natural world works?
Determine the basic earnings per share for crystal arts : Determine the basic earnings per share for Crystal Arts. Round answer to nearest whole cent.

Reviews

Write a Review

Microeconomics Questions & Answers

  Discuss how liquidity money curve derived

Discuss how is the liquidity money (LM) curve derived and determine what impacts it and how does it impact the global economy? Provide examples and support your claims.

  Explain a two time period budget equation

What did you end up doing? Explain using a two time period budget equation and congress must be happy with your findings. You are sitting at your desk starring at your very first bonus.

  Pricing strategies-equilibrium price

What is the competitive equilibrium price per ride and what is the equilibrium number of rides per day? How many boats will there be in equilibrium? In this competitive market, what is the aggregate profit?

  What is the marginal cost of an additional movie

During the average month in 2010, Sarita received and watched 6 movies sent to her through the mail and she watched an additional 13 movies which were streamed to her computer.What is the average cost of a movie to Sarita? What is the marginal cos..

  Graphing the supply and demand curves

Assume you are an aid to a government official planning on some recently proposed excise tax on welfare of her constituents.

  Economic effect of price floors

Assume the government sets an effective price floor in market for oranges and agrees to buy all oranges that go unsold at that price. The oranges bought by the government are discarded.

  Monopolistic competition and the factors of production

Oligopoly, Monopolistic Competition,and the Factors of Production - Cooperation between the two prisoners in the prisoners' dilemmagame is difficult to maintain

  Discussion on economics

Discuss why will voluntary actions, undertaken at individual level, be unlikely to bring about significant decrease in greenhouse gases such as CO(2)?

  Market price in long-run equilibrium

A firm in a purely competitive industry is currently producing 1000 units per day at a total cost of $450 and If the firm produced 800 units per day, its total cost would be $300, and if it produced 500 units per day, its total cost would be $275.

  Explain the meaning of mrts for production function

Briefly explain the meaning of MRTS for this production function and what is elasticity of substitution when the capital-labour ratio changes from 1/10 to 1/30?

  Government involvement in the marketplace

Discuss and explain one factor of how government involvement in marketplace can impact or not impact the economy. Give a real life example of this factor at work.

  Scenario - labor supply and demand

Write a situation that would cause a shift in labor supply and demand. The following areas have had high job growth values and can be used for your scenario:

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