Draw a market for portable generators in equilibrium.

Assignment Help Business Economics
Reference no: EM13744198

Not too long ago Hurricane Sandy hit the northeast portion of the United States, causing serious and costly damage. Given what you've learned this week, what can we conclude probably happened to the price of portable generators? To the price of food? Don't do any research to determine what someone else thinks about this question. Just apply the principles of supply and demand you learned this week. Explain your answers graphically. Just get a pencil and paper and draw a market for portable generators in equilibrium and then show the changes you want to make. Do the same for food. Explain to your group members what you have concluded and why. Explain how you drew your graph too. How did you label the axes? How did you find equilibrium? What curve(s) shifted, if any, which direction did they shift and why? If it's easy to attach a copy of your graph for your group members to see, feel free to do so. This is not a requirement, though. You must be able to verbally explain how you drew your graphs.

Reference no: EM13744198

Questions Cloud

Property tax decrease : What effect, if any, would each of the following have on the short-run average (ATC, AFC, AVC) and marginal costs of an auto dealership:
Should the council approve the proposal : The Townsville City Council is considering a proposal by the mayor to construct a recreational facility at a cost of $1.0 million. The facility is expected to have a useful life of 30 years during which operating costs are expected to average $100,00..
What is the maximum profit that you can obtain : Suppose that you own a car wash and that its total cost fuction is: C= 20 + 2Q + .3Q^2, where C = total cost (in dollars) per hour and Q is the number of cars washed per hour. You receive 5 dollars for each car washed. What is the maximum profit that..
Draw a market for portable generators in equilibrium : Not too long ago Hurricane Sandy hit the northeast portion of the United States, causing serious and costly damage. Given what you've learned this week, what can we conclude probably happened to the price of portable generators? To the price of food?..
Draw a market for portable generators in equilibrium. : Not too long ago Hurricane Sandy hit the northeast portion of the United States, causing serious and costly damage. Given what you've learned this week, what can we conclude probably happened to the price of portable generators? To the price of food?..
Finds the cross product of demand : A car dealership is considering lowering the price of its min vans to promote sales. However, it worries that this will reduce sales of it station wagon autos. It finds the cross product of demand to be 1.5. Are its concerns legitimate? Explain.
Coase theorem to produce efficient equilibrium are present : A free-market republican argues against the Pigouvian tax by pointing out that the conditions necessary for the Coase Theorem to produce an efficient equilibrium are present in this situation. Assuming that the republican is correct, describe two met..
Mean they should privatize the inefficient responsibilities : Why does the government have a bad reputation of being inefficient? And if it is inefficient in some areas and not others, does that mean they should privatize the inefficient responsibilities?
Johns present value of lifetime earnings in alternative : 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. Alternative 2: he can spe..

Reviews

Write a Review

 

Business Economics Questions & Answers

  Q1 how did various visions of a reconstructed south

q1. how did various visions of a reconstructed south fluctuate? explain how did these visions reflect the old political

  What would be the long term

Assume the price falls to $ 7.50. What think would be a short-run impact on the production of the company. What would be the long term.

  What would this event cause the demand for the dollar

What would this event cause the demand for the dollar to increase or decrease relative to the demand for the pound.

  Compare the unemployment rate

Compare the unemployment rate in the state of New Jersey to the national average of the past four years. Compare the trends in relation to the types of unemployed workers in the state of New Jersey. Compare the trends in relation to the types of unem..

  Elucidate what data or other factors that monetary policy

Elucidate what data or other factors that monetary policy makers, firms, and workers might analyze in attempting to determine if the decline in the real exchange rate is temporary or will persist.

  Why disregard the portion of the supply curve

disregard the portion of the supply curve that corresponds to prices where there is no output.

  What the results of the regression equation tells managers

Assess what the results of the regression equation tells managers and how it is likely to impact decisions made related to maximizing profitabilit

  Impact on domestic and world prices

Russian farmers, again, have a poor crop. Their government has announced that they will not ban exports. Discuss the impact on domestic and world prices, consumers and producers the effects of the Russian government's decision.

  Use clamshells for money

George and John, stranded on an island, use clamshells for money. Last year George caught 300 fish and 5 wild boars. John grew 100 bunches of bananas. In the two-person economy that George and John set up, fish sell for 3 clamshells each, boars sell ..

  Why do points on a utility possibility curve represent

why do points on a utility possibility curve represent efficient allocations of resources? why must the utility

  Elucidate what is effect of such tax on economic efficiency

Elucidate what is the effect of such tax on economic efficiency also the effect on economic equity. Do you think this was a popular tax.

  Estimate the level of sales

Estimate the level of sales next year if CFC reduces Px by 10 percent and increases advertising by 20 percent, Income rises by 5 percent, Py is reduced by 10 percent, and Pm remains unchanged. By how much should CFC change its advertising if it wants..

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