Intersects d-elastic

Assignment Help Microeconomics
Reference no: EM13852892

In the graph here you will draw two different demand curves. 

1. Use the infinite line too to draw a demand curve that is perfectly elastic at a price of $50. Label this curve D-Elastic.

2. Use the infinite line tool to draw a demand curve that is less elastic than D-Elastic, but not perfectly inelastic. Label this curve D-Less-Elastic.

Make sure that it intersects D-Elastic.

Reference no: EM13852892

Questions Cloud

Influence of the federal reserve on global investments : Using three tools, (a) open market operations, (b) discount rate, and (c) reserve requirements, the Federal Reserve influences output and employment. Globalization influences the conduct of monetary policy through its powerful effects on the economic..
Examine the federal money supply : Examine how the Federal Reserve controls the money supply. In a paper, formulate how the independence of the Federal Reserve should or should not be modified in any way. Support your conclusions with references to the textbook and other resources.
Illustrate your answer with supply and demand curves : During the last 10 years Orlando, Florida, grew rapidly, with new jobs luring young people into the area. Despite increases in population and income growth that expanded demand for housing, the of price of existing houses barely increases. Why? Illus..
What is the estimated percent change in world price of oil : The elasticity of demand for oil is about 0.5, and the elasticity of supply is about 0.3. If the Arctic National Wildlife Refuge (ANWR) were drilled and the world supply of oil increased by 3 percent, what is the estimated percent change in the world..
Intersects d-elastic : In the graph here you will draw two different demand curves. 1. Use the infinite line too to draw a demand curve that is perfectly elastic at a price of $50. Label this curve D-Elastic.2. Use the infinite line tool to draw a demand curve that is less..
Consumes two goods-find equation that gives every bundle : Iggy only consumes two goods: coffee and cigarettes. Three cigarettes can be traded for one cup of coffee in a free market, or one cup coffee can be traded for three cigarettes. Iggy initially has 12 cigarettes and 5 cups of coffees. Find an equation..
Assume that during the severe drought the tomato harvest : Assume that during the severe drought the tomato harvest is dramatically reduced. Draw two supply curves for ketchup on the graph: one representing supply during a severe drought (label it S-During) and another representing supply after the drought i..
How will the income levels differ between them : Suppose that we are comparing two countries that are similar in every respect except the education of their population. In country 1, adults have 10 years of education. In country 2, alladults have 4 years of education. Use intuitions from the Solow ..
The two countries have the same levels of productivity : Suppose that there are two countries, X and Y, that differ in their rates of investment andtheir population growth rates. In Country X, investment is 20% of GDP and the populationgrows at 0% per year. In Country Y, investment is 5% of GDP, and the po..

Reviews

Write a Review

Microeconomics Questions & Answers

  Do internal labor markets enhance or detract from efficiency

Do you think internal labor markets enhance or detract from efficiency How might one argue that the realization of dynamic efficiency is more important that achieving static efficiency Do you agree

  Determining breakeven output-total sales revenue

Find out the breakeven output and total sales revenues. Estimate the output that would generate total profit of 60,000 and total sales revenue at that output level.

  As the student what opportunity costs do you confront by

as a student what opportunity costs do you confront by enrolling in university of phoenixs mba program? does your

  Formulation of demand curve

A company wants to prepare the demand curve for its product that it is selling. How would it get the information to prepare the schedule? How could a company prepare the demand curve for the new product that has not been seen by the public?

  What does a more hawkish view of inflation mean

The Fed took a somewhat more hawkish view of inflation than it did in the March statement. Today's statement made specific reference to inflationary pressures, saying that energy and other commodity prices have increased, an acknowledgement absent..

  Macroeconomic consequences of a budget deficit

What are the macroeconomic consequences of a budget deficit when the economy is operating at full employment? Be sure to discuss the effects in the short run and long run.

  A domestic shoe company distributes running shoes and

a domestic shoe company distributes running shoes and tennis shoes for 95 per pair. the marginal cost of producing a

  The sunkist citrus processing plant in the southern san joa

An orange goes through four major steps on its way from grove to grocery store at the Sunkist Citrus Processing Plant in the southern San Joaquin Valley: washing, waxing, grading (inspection), and packaging. The facility's production technology can b..

  Relevant and irrelevant costs

Illustrate and fully describe using an example of relevant cost (a cost whose value does affect the optimal decision) and an example of irrelevant cost (a cost whose value does not affect the optimal decision) to the business regarding this decisi..

  Characterize the demands for the goods

Characterize the demands for the goods as being more elastic or more inelastic - smoke cigars are bothered by the odor of cigar smoke

  Explain market demand and market supply

In a competitive market, the market demand is Qd = 400 - 5P and the market supply is Qs = 10P - 80. A price ceiling of $32 will result in a. a shortage of 80 units b. a shortage of 44 units

  Recognize the organization not previously selected and

identify an organization not previously selected and recommend methods to reduce costs. what effects do technologies

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