demand function for product, Economics, Microeconomics

2. You are examining the effects of a specific tax of 10 cents imposed on the sales of a product that we shall call XYZ. To carry out your analysis, assume that the market is a perfectly competitive one. You are provided with the following data:

(1) Economists have estimated the demand function for product XYZ to be:

QD = 20 – 0.50 P

Where P is the price of the product (in cents) and QD is the quantity demanded (in thousands).
Posted Date: 2/1/2012 2:17:17 PM | Location : United States







Related Discussions:- demand function for product, Economics, Assignment Help, Ask Question on demand function for product, Economics, Get Answer, Expert's Help, demand function for product, Economics Discussions

Write discussion on demand function for product, Economics
Your posts are moderated
Related Questions
Individual Assignment ECO101 - PRINCIPLES OF ECONOMICS electronic submission via Moodle 6 Questions 100 marks (15% of total course) All questions should be attempted. 30-50 w

Consider the following flow (in thousands of people) between the various labour market states in a particular month:


Explain the link between the rate of interest and inflation. Interest can be explained as the price of money - more expensive money will lead to few loans, higher saving and as

Question 1: Compare and contrast between perfect competition and monopoly. Which of the two types of market structures is efficient? Question 2: Prepare a short notes

Q. What is Corporation? A corporation is a form of business established as an independent legal entity, separate from individuals who own it. A main benefit, for owners, of thi

I can''t figure out how to graph the aggregate consumption function and the aggregate saving function

criticism of cournot model

Sources of external economies of scale: Economies of Skilled Labour: This involves upgrading the skills of labour through the provision of education and training faci

suppose you have a coffee shop. list of fixed input and variable input for operating the shop