User Account

All Pages

Compute the market equilibrium price and quantity

Assignment Help Business Management
Reference no: EM132336446

Suppose the Ontario cannabis market of a particular specie consists of the following supply and demand curves: QD = 150 - 20p QS = 40p where Q is the number of packs of cannabis per year (in millions!), and p is the price per pack.

a. Compute the market equilibrium price and quantity.

b. Calculate the price elasticities of each curve at the equilibrium price/quantity.

c. Ontario imposes a tax on cannabiss of $0.90 per pack. Suppliers pay this tax to the government. Compute the after-tax price and quantity. How much do suppliers receive net of tax (per pack)?

d. Demand for cannabiss is generally more elastic over longer periods of time as consumers have more time to kick the habit. What does this imply about the tax incidence in the long run as compared to the short run?

Reference no: EM132336446

Questions Cloud

Explain the great recession : Attempt to briefly explain the great recession according to each of the following four business cycle theories:
Plot the supply and demand curves : Suppose that the supply curve for schoolteachers is LS = 20,000 + 350 W, and the demand curve for schoolteachers is LD = 100,000-150 W, where L = the number of
Suppose price levels were rising each year : Suppose price levels were rising each year, but money wages were "sticky downward" and never fell. How would real wages in this market adjust?
Editor practicing a price discrimination by charging : Is an editor practicing a price discrimination by Charging more for hardcover books than paperback books because the cost of producing hardcover books is higher
Compute the market equilibrium price and quantity : a. Compute the market equilibrium price and quantity. b. Calculate the price elasticities of each curve at the equilibrium price/quantity.
Model for the long-run competitive firm : The price of the typical MP3 player (such as the iPod) has been going down in the past 10 years. What could explain this consistent drop in the price of MP3
Minimum of five hundred words : In a minimum of five hundred words, Tell us about a world that you exist in where you are living your best debt-free life.
What are the three types of unemployment : What are the three types of unemployment and explain how do they change over the business cycle?
Describe the technique and why it is used for : In the question you describe the msg. Its need be pointed 5 muscles in each part of the body msg. Which technique (stroke) and why it's used for

Reviews

Write a Review

Business Management Questions & Answers

  Caselet on michael porter’s value chain management

The assignment in management is a two part assignment dealing 1.Theory of function of management. 2. Operations and Controlling.

  Mountain man brewing company

Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. Due to increase in the preference for light beer drinkers, Chris Prangel wants to introduce light beer version in Mountain Man. An analysis into the la..

  Mountain man brewing company

Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. An analysis into the launch of Mountain Man Light over the present Mountain Man Lager.

  Analysis of the case using the doing ethics technique

Analysis of the case using the Doing Ethics Technique (DET). Analysis of the ethical issue(s) from the perspective of an ICT professional, using the ACS Code of  Conduct and properly relating clauses from the ACS Code of Conduct to the ethical issue.

  Affiliations and partnerships

Affiliations and partnerships are frequently used to reach a larger local audience? Which options stand to avail for the Hotel manager and what problems do these pose.

  Innovation-friendly regulations

What influence (if any) can organizations exercise to encourage ‘innovation-friendly' regulations?

  Effect of regional and corporate cultural issues

Present your findings as a group powerpoint with an audio file. In addition individually write up your own conclusions as to the effects of regional cultural issues on the corporate organisational culture of this multinational company as it conducts ..

  Structure of business plan

This assignment shows a structure of business plan. The task is to write a business plane about a Diet Shop.

  Identify the purposes of different types of organisations

Identify the purposes of different types of organisations.

  Entrepreneur case study for analysis

Entrepreneur Case Study for Analysis. Analyze Robin Wolaner's suitability to be an entrepreneur

  Forecasting and business analysis

This problem requires you to apply your cross-sectional analysis skills to a real cross-sectional data set with the goal of answering a specific research question.

  Educational instructional leadership

Prepare a major handout on the key principles of instructional leadership

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd