Draw a downward sloping demand curve

Assignment Help Business Management
Reference no: EM131278085

1.) For this exercise you will need to first build a graph to these specifications: Draw a downward sloping demand curve with vertical intercept (0,150) and horizontal intercept (25,0). Draw a supply curve with vertical intercept (0,50) and with slope=4 i.e. the market equilibrium occurs at (10, 90).

a. Compute consumer, producer, and total surplus at the market equilibrium.

b. Label consumer surplus and producer surplus if the government imposes a price ceiling of $70, then compute deadweight loss.

c. Compute deadweight loss when the government imposes a price ceiling of $120.

2.) A drought in California destroys many grapes. As a result of the drought, what happens to the consumer surplus in the market for grapes and to the consumer surplus in the market for red wine? Draw the necessary graphs to represent this scenario and then write a sentence or two with your answer.

Reference no: EM131278085

Marginal valuation of the last unit

Consumer Surplus: The height of the demand curve at a given quantity reflects the marginal valuation of the last unit of that good consumed. For a normal good, an increase i

Research and knowledge of healthcare

Based on your research and knowledge of healthcare develop a 1 page memo to your staff discussing how the department will promote accountability, reliability and integrity m

Show the new productivity in loaves per dollar

Show the productivity change, in loaves per dollar, with an increase in labor cost. - Show the new productivity, in loaves per dollar, with only an increase in investment.

Describe the concept of gaunxi

Describe the concept of gaunxi and Why is it so significant to businesses operating in china and How did McDonald's lack of guanxi increase its cost of doing business in chi

Different authors that address one training topic

An article abstract is due as part of the class requirements. Students should pick two articles, written by different authors that address one training topic (for example, n

Describe one plausible risk response for each of the risks

Differentiate the risk classifications in the table using green, yellow, and red shading to produce a status report that immediately signals the severity of the impact witho

Management role in promoting ethics in workfoce

What are some real-world examples of ethical and unethical leadership that you have encountered while working? Discuss a time when you have opposed unethical practices.

Illustrate what is the average amount of collection float

These checks, on average, are worth $39.90 each and clear the bank in 1.5 days. In addition, your organization disburses 38 checks a day with an average amount of $89.50. Th

Reviews

Write a Review

 
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