Customer Service Chat
Get quote & make Payment
Economics, Business Economics
Quantitative demand for watermelons = 50-3P(wm) - 20P(hd) + 10 P(sc) + 0.001(income)
P(wm) = $4.00
P(hd) = $3.00
P(sc) = $2.00
Income = $40,000
Quantity supply of watermelons = 22 + 4P(wm)
A) What is the quantitative effect of a 5% demand shock in the watermelon market? Determine the effect on price, quantity demanded, and quantity supplied of watermelon.
B) Now consider a simultaneous supply shock in the watermelon market of -10% due to an extreme drought. This supply shock occurs at the same time as the 5% demand shock. Determine the effect on price, quantity demanded, and quantity supplied of watermelon.
Posted Date: 9/21/2012 1:46:30 AM | Location : United States
Ask an Expert
Economics, Assignment Help, Ask Question on Economics, Get Answer, Expert's Help, Economics Discussions
Write discussion on Economics
Your posts are moderated
Write your message here..
Theory of cost, what is social cost
what is social cost
Describe average in the class so far, On the first exam your score was a 96...
On the first exam your score was a 96%, on the second it was an 89%, and on the third test it was a 79%. The first exam is worth 10% of your grade, the second is worth 19% of your
What is argument of advocates of world bank, What is the argument of advoca...
What is the argument of advocates of World Bank in promotion of development? Advocates of the World Bank argue: • Loans and aid alone don’t guarantee development or the
What is the theory of mercantilism, Mercantilism was the economic philosoph...
Mercantilism was the economic philosophy underlying English colonial policy. The object of mercantilism was to enhance the wealth of the Mother County (Great Britain) in gold & sil
General and specific training, QUESTION 1 (a) Suppose the government de...
QUESTION 1 (a) Suppose the government decides to implement a minimum wage to help low-income workers. How will the minimum wage affect the demand for labor and what does this i
What is the effectiveness of non-government organisations, What is the effe...
What is the effectiveness of Non-Government Organisations, within the promotion of development? Critics argue NGOs (Non-Government Organisations): • Are self-serving and se
Discounting principle, Explain the discounting principle. Using the discoun...
Explain the discounting principle. Using the discounting principle calculate the present value of an annuity of five years at Rs. 500 payments made at the end of each of the next f
What are the advantages to the project manager, What are the advantages to ...
What are the advantages to the project manager in giving regular progress reports to the project team members? People working onto a project as to have an understanding of how
Calculate expected return, QUESTION 1 (a) Explain how CAPM provides a ...
QUESTION 1 (a) Explain how CAPM provides a framework for measuring the systematic risk of an individual security in a well-diversified portfolio, using the concept of security
Low per capita income, Assume that the per capita income in Alfaland (with ...
Assume that the per capita income in Alfaland (with initial high per capita income) is growing quicker than it is in Betaland (with initial low per capita income). Then: the gap in
Accounting Assignment Help
Economics Assignment Help
Finance Assignment Help
Statistics Assignment Help
Physics Assignment Help
Chemistry Assignment Help
Math Assignment Help
Biology Assignment Help
English Assignment Help
Management Assignment Help
Engineering Assignment Help
Programming Assignment Help
Computer Science Assignment Help
Why Us ?
~24x7 hrs Support
~Quality of Work
~Time on Delivery
~Privacy of Work
Human Resource Management
Literature Review Writing Help
Follow Us |
T & C
Copyright by ExpertsMind IT Educational Pvt. Ltd.