problem, Microeconomics

Assignment Help:
For each of the following scenarios, you use a SS & DD diagram to demonstrate the effect of a given shock on equilibrium price and quantity in specified competitive market. Explain whether there is a shift in DD curve & SS curve, or neither. If there is a shift, what would be the direction?
a. Let us assume an unexpected temporary hot weather hits Dhaka City. Show the effect in the ice cream market in Dhaka City.
b. Suppose City Mayor introduces a temporary tax on ice cream which is paid by producers. Is there any effect in the ice cream market? If so, what is the effect in the ice cream market?
c. Suppose Bangladesh is the major producer of garments in the world. Let us say, after Rana Plaza incident, workers of garments industry in Bangladesh decided to go on strike. Show the effect on the market for Bangladesh garments.
d. Show the effect of the situation described in (c) on the market for immediate competitor of Bangladesh, Indian garments industry.
e. Suppose the government imposes a price cap on sugar. Show the effect in the
Sugar market

Related Discussions:- problem

What is the theory of Second Best?, What is the theory of Second Best? Prov...

What is the theory of Second Best? Prove the theorem with the help of a diagram.

What is affected variable and cause variable, What is affected variable and...

What is affected variable and cause variable?  In a graph, one variable is dependant and the other is independent. The dependant variable is known as effect variable and indepe

Factors affecting demand forecasting - credit conditions, The availability ...

The availability of credit and hire purchase facility tends to push up the demand for consumer durables. In India for consumer durables lie Refrigerators television scooters etc, h

Difference between anticipated and unanticipated inflation, Explain inflati...

Explain inflation, and the difference between anticipated and unanticipated inflation.         Answer   Inflation is the persistent rise in the general price level in the e

Point elasticity, Point elasticity: It refers to measurement of elasticity ...

Point elasticity: It refers to measurement of elasticity on a point On a demand curve. Point elasticity helps in measuring elasticity where change in price and quantity is infinite

Labor-leisure analysis, Joe won $365,000 a year for life in the state lotte...

Joe won $365,000 a year for life in the state lottery. Use a labor-leisure choice analysis to answer the following: a. Show how Joe’s lottery winnings affect the position of his b

Construct anova design matrix - right reference cell coding, 1. Consider th...

1. Consider the following 2-way ANOVA Table with the group number listed in the cells of the table. Factor B=1 B=2 B=3 B=4

Describe pay-as-you-go pension plan, Q. Describe pay-as-you-go pension plan...

Q. Describe pay-as-you-go pension plan? Pay-As-You-Go Pension: A pay-as-you-go pension plan sponsor basically just pays for pension benefits to retired plan members out of its

Formal and informal systems - mrp system, Formal and Informal systems  - M...

Formal and Informal systems  - MRP System Most production systems are full of 'pushes' and 'pulls'. The formal system issues orders, ie 'pushes'. The informal system tries to

Write Your Message!

Captcha
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