Evaluate impact of the starting discovery in terms of supply

Reference no: EM13198462

Many nutritionist regard tofu as virtually a wonder food. Imagine now that yet another benefit of tofu is discovered. Mixed with a few cheap ingredients it greatly increase gasoline mileage just as it enhances performance in humans. Evaluate the impact of this starting discovery in terms of the supply and demand for tofu, the price of gasoline and substitute for tofu as a food, fish being an example. For this problem yo can assume that tofu production is perfectly competitive. In this example, describe-do not-draw-supply and demand curves.

Reference no: EM13198462

Questions Cloud

What is the probability at least one is hopelessly romantic : About 20% of the population is hopelessly romantic. If two people are randomly selected, what is the probability both are hopelessly romantic? What is the probability at least one is hopelessly romantic?

How far apart are the parallel sides : A trapezium with an area of 168cm squared has parallel sides of lengths 6cm and 18cm.

It is measured eastward in units of time : Polaris is almost at +90 degrees. Stars passing your zenith have a declination equal to your local latitude. Its origin is the celestial equator. It is measured eastward in units of time

Describe the behavior of labor markets : People from the countryside, especially from minority tribes, move to the vibrant cities, earn what they felt they need and return to the countryside, returning more quickly the more they earn per hour.

Evaluate impact of the starting discovery in terms of supply : Many nutritionist regard tofu as virtually a wonder food. Imagine now that yet another benefit of tofu is discovered. Mixed with a few cheap ingredients it greatly increase gasoline mileage just as it enhances performance in humans.

Calculate margin of safety of each business : Calculate break - even point of each business, calculate the sales volume at which each business will earn RO.5000 profit and calculate margin of safety of each business

What kind of competitive structure would you like to see : We have discussed several ways in which industries are organized. Now imagine a newly emerging industry, perhaps born on the internet. Without knowing anything else about it.

Determain if hacking into a web site : Determain if hacking into a web site is ever justifiable, applying your theory to a real-world case in which someone hacked into a system, including the name of the company and details.

Explain long-run adjustment that will take place in industry : Suppose that the market for the services of hookah bars is in long-run equilibrium. (1) more cities end regulations that had generated fixed costs for hookah bars, and (2) many nonstudent adults discover previously unknown preferences for the serv..

User Account

All Pages