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

Objectives of the imf, International Monetary Fund: International Mone...

International Monetary Fund: International Monetary Fund (IMF) is one of the two institutions that were established as a result of the Brettonwoods Conference in 1944, the oth

Rationale for the intervention of government, 1. Describe why government re...

1. Describe why government regulation is required, citing the major reasons for government involvement in a market economy. 2. Justify the rationale for the intervention of gove

Cobweb model, COBWEB MODEL: Concept of dynamic stability: A market e...

COBWEB MODEL: Concept of dynamic stability: A market equilibrium is said to dynamically stable only when disequilibrium price and quantity move and over time reach to any eq

Economics, define economics in plural sense. .

define economics in plural sense. .

Microeconomics, Using real life examples and the use of the following conce...

Using real life examples and the use of the following concepts: Effecient vs Ineffecient and Opportunity cost and increasing opportunity cost

Explain about Growth and development of country, How might one assess if a ...

How might one assess if a country in experiencing both growth and development? This is a matter of explaining clearly both growth and development; growth is an enhance in GDP (

Monopoly, what is multi-plant monopoly?

what is multi-plant monopoly?

Welfare analysis, Welfare Analysis 1-Of the following four institution...

Welfare Analysis 1-Of the following four institutions for allocating apartment to different people at different prices   i.  The competitive market  ii.  A discriminatin

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