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Create a demand schedule and a supply schedule for your product.
Using these schedules, draw a demand curve and a supply curve using PowerPoint or Excel. Use these to determine the equilibrium price and equilibrium quantity for the product.
Analyze five reasons why demand for this product could shift.
Analyze five reasons why supply could shift.
Analyze the conditions that could lead to the following scenarios: a) Demand increases, supply decreases; b) Demand decreases, supply increases; c) Demand and supply both increase; d) Demand and supply both decrease.
Then, create separate graphs for this product to illustrate how equilibrium price and quantity change in the four scenarios mentioned above.
Furniture manufacturing involves a huge number of options to satisfy consumer preferences, but this extensive set of choices slows production and raises costs.
Represent this economy using the AD/AS model and explain the model and what problem will occur in the economy if no fiscal policy is pursued? What fiscal policy tools could be used to combat the problem? ECOM4000
Assume the price of beans rises from $1.00 a pound to $2.00 a pound, quantity demanded falls from 10 units to 6 units. In this example, the demand for beans is said to be ______
Does the presence of online auction sites, such as eBay, make it easier or harder for traditional retailers and wholesalers to engage in profitable price discrimination? Explain.
Assume that the technology of producing widgets is that every company entering the market has the same total cost curve, as follows; TC=1000+5Q+0.1Q^2
Assume that the demand and supply curves for broccoli in the United States market are given by:
Determine how a policy will change social welfare, changes in individual utility for high-income individuals are weighted more heavily.
Determine the market equilibrium conditions in this market for Wides and summarize your recommendations or advice to Barks concerning market conditions and production levels.
Fluctuating and rising gasoline prices. Make your analysis on this topic and relate it to the US economy. Determine the three or four segments of our economy that are affected through fluctuating prices for gasoline.
Governments have several means available to guide and influence competition in the marketplace. These means include government ownership of firms and industrial policy.
Use arc-approximation formula to compute the price-elasticity of demand coefficient of the firm's product demand between the (quantity, price) points of (100, $20) and (300, $10).
Determine the impact of tariffs and quotas on international competition and discuss two recent examples and how it effected your employer's industry.
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