Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
1) The demand and supply equations in a market are given as Q = 30 - 2P and Q = 10 + 2P. If the government imposes a tax of $0.50/unit on the suppliers, what would be the net loss in consumer surplus and producer surplus? What would be the deadweight loss? Also compute consumer's tax burden and consumer's new expenditure.
2) a.Give an example of positive externality. Using a graph explain how the usual framework of marginal private benefit and marginal private cost leads to underproduction (less than optimal production) in this case.
b. Give an example of negative externality. Using a graph explain how the usual framework of marginal private benefit and marginal private cost leads to overproduction (more than optimal production) in this case.
Write down a short memo to Ralph Sampson describing the analysis that the company should do before it makes this decision and any other considerations that would affect decision.
Compute the average product of grain when each amount is used. Determine the marginal product of grain when between 1,200 and 1,800 pounds are fed, when between 1,800 and 2,400 pounds are fed, and when between 2,400 and 3,000 pounds are fed.
Describe how the market economic system works to answer fundamental economic questions. Describe how this may differ from a command economic system.
You're the manager of monopolistically competitive firm. The present demand curve you face is P=100-4Q. Your cost function is C(Q)=50+8.5Q2 (That's Q squared).
While sitting in your office one evening, you start to think about some of the key microeconomic messages you wish to communicate to the Board.
With respect to price elasticity of demand, create a graph using the information in figure 1. Illustrate the ranges on demand curve that indicate elastic, inelastic, and unitary elasticity.
Assume that the two rival "Super Stores", Walmart and Target both adopt price matching rules. If people can discover lower advertised values on any items they sell, then they will match the lower prices.
Discuss the characteristics of Great Britain's economic relationship with India in the 17th and 18th centuries? How would you describe their success in their competition with Dutch?
Graph the demand and supply curves. What is the equilibrium price and quantity in this market and if the actual price in this market were above the equilibrium price, what would drive market toward the equilibrium?
What are three main factors of production? Who are the main economic decision makers in a Markey system? Can firms and households resolve problems by cooperating with each other?
In 2005, hogs in the US were selling for $67 each, down from $75 a year ago. This was primarily due to fact that supply had raise during the period to 1.8 million hogs per week.
Assume that the aggregate demand curve is P=120 - Q, where P is price level and Q is real output. If the short-run aggregate supply curve
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd