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

crumble corporation produce biscuits. here the relation between the number of workers and output

two countries workland and playland have similar population and identical production possibilities curves but diffrefences . the procuction possibilities combination are as follows

In the city of Gelato the market for ice cream is perfectly competitive. Aggregate demand for ice cream is: D(p) = 1200-25p where p is the price for one cone of ice cream. Al

What are the keys of the profit maximisation in production technology? Profit Maximization in production technology: a. Producer Behavior b. Producer’s Optimal Choice



Externalities: Many economic activities have collateral effects (at times positive, but more often negative) on other people who aren't directly involved in that activity. Illustra

If a 10% increase in the price of computers leads to a 20% reduction in the quantity demanded, what is the coefficient of demand elasticity? 2. A local government wants to increase

illustrate and explain the changing demand gor big Mac using the indifference curves and budget line