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

Rational producer, would a rational producer be concerned with the average ...

would a rational producer be concerned with the average or marginal product of an input in deciding whether or not to hire the inputs?

Define regressive tax, Q. Define Regressive Tax? Regressive Tax: A tax ...

Q. Define Regressive Tax? Regressive Tax: A tax in that lower-income individuals or households bear a proportionately greater burden of the tax. Sales taxes aretypically consid

Finding concavity, my q is dat how can we find mathematically dat a product...

my q is dat how can we find mathematically dat a production function is concave?

Principle of economics , A city government regulates taxi fares.  It also l...

A city government regulates taxi fares.  It also limits the number of taxicabs (by licensing), and has not changed the limit on cabs for lot of years.  At one time vacant taxis wer

Volume of trade, Volume of Trade: It relates to the size of internatio...

Volume of Trade: It relates to the size of international transactions. Since a large number of commodities enter in international transactions and their aggregate can be found

Public goods, True public goods are those goods which can't be provided to ...

True public goods are those goods which can't be provided to one group of consumers, without being provided to any other consumers who desire them. Thus they are "non-excludable."

Production, for the total product curve why is it when you reach at maximum...

for the total product curve why is it when you reach at maximum adding more input leads to decline in output?

Theory of the firm, Ask quesQuestion 1. A firm has a production function gi...

Ask quesQuestion 1. A firm has a production function given by Q = L1/2 K, where L is labour and K is capital. Draw and appropriately label at least three points on each of the isoq

Help, I have some Microeconomics problem need to be solve, three Long quest...

I have some Microeconomics problem need to be solve, three Long question and 10 multiple-choice. If I give you four hours can you finish.

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