Describe the effects on the price of a recordable cd

Assignment Help Microeconomics
Reference no: EM13177420

What is the effect on the price of a recordable CD and the quantity of recordable CDs sold if
a. The price of an MP3 download rises?
b. The price of an iPod falls?
c. The supply of CD players increases?
d. Consumers' incomes increase?
e. Workers who make CDs get a pay raise?
f. The events in (a) and (e) occur together?

Reference no: EM13177420

Questions Cloud

Calculate the balance in ending work in process : Calculate the balance in ending work in process and cost of goods sold before any adjustments for under- or overallocated overhead and calculate under- or overallocated overhead.
What physical process at work in the sun : Granulation, or the mottled appearance of the whole solar surface, is an indication of what physical process at work in the sun?
Compute the pretax effect of this option plan : Compute the pretax effect of this option plan on the net income of Intel for 2008 through 2012. Accounting for stock options. Intel granted stock options to employees on December 31, 2007, permitting them to purchase 24.6 million shares of Intel co..
What is the relative price of a dvd : Jason enjoys DVDs and spy novels and spends $60 a month on them. The price of a DVD is $20 and the price of a spy novel is $10. a. What is Jason's real income in terms of spy novel?
Describe the effects on the price of a recordable cd : What is the effect on the price of a recordable CD and the quantity of recordable CDs sold if a. The price of an MP3 download rises? b. The price of an iPod falls? c. The supply of CD players increases?
What is probability that there is at most one empty parking : Mary and Tom park their cars in an empty parking lot with n≥2 consecutive parking spaces (i.e, n spaces in a row, where only one car fits in each space). Mary and Tom pick parking spaces at random. (All pairs of parking spaces are equally likely.)..
What is the lenght of the beam at 70f : the lenght of a steel beam is a linear function of the temperature when temperature is 40F a certain steel beam is 50 feet long and at 95 F the same beam is 50.12 feet long.what is the lenght of the beam at 70F? at what temperature is the beam 49...
Calculate tom''s opportunity cost of producing a ball : Tom can produce 40 balls per hour or 4 bats per hour. Tessa can produce 80 balls per hour or 4 bats per hour. a. calculate Tom's opportunity cost of producing a ball. b. calculate Tessa's opportunity cost of producing a ball.
Explain opportunity cost of evening at the movies : The night before an economic exam, you decide to go to the movies instead of staying home and working your MyEconLab study plan. You get 50 percent on your exam compared with the 70 percent that you normally score. a. Did you face a tradeoff?

Reviews

Write a Review

Microeconomics Questions & Answers

  Drawing a supply and demand graph

Since 1997, at least three million vehicles have been recalled due to air bag related troubles. Of these, roughly half were due to troubles of the sort that only time and road experience are likely to reveal.

  Finding long run equilibrium price

If a representative company with long run total cost given through TC = 50 + 2q + 2q2 operates in a competitive industry where the market demand is given through QD = 1,500 - 40P,

  What is the total amount of output the firm

What is the TOTAL amount of output the firm should produce and approximately how much output should the firm allocate to market 1?

  Demand function for daily attendance

Calculate the price that the Plaza Movie House will charge for admission to movies in the long run and what will be the number of patrons per day at that price?

  Long-run market adjustment-perfect competition

Firm Z, operating in a perfectly competitive market, can sell as much or as little as it wants of a good at a price of $16 per unit. Its cost function is C=50+4Q+2Q^2. The associated marginal cost is MC=4+4Q, and the point of minimum average cost ..

  Compute total revenues and total expenses

Compute total revenues, total expenses, and profits both before and during the strike and Who was better positioned to endure the strike?

  Determining optimal output and price levels

Now assume that there're five firms in the industry, and that they collude to set the price. What price will they set? What will be the output of each firm? What will be the profit of each firm?

  Ramifications of private money

Assume that a new law stated that any person could print their own money. Determine what kind of changes would come about in daily commercial transactions as a result of such a law?

  Calculate the average variable cost for brian and kims firm

Calculate the following for Brian and Kim's firm

  How did this likely affect labours share in national income

Does an increase in the average annual labour income imply that the individual worker's labour income has increased and

  Monopolist that practices perfect price discrimination

A monopolist that practices perfect price discrimination will choose an output level where marginal revenue is equal to marginal cost to maximise profit.

  Encouraging monopoly to social efficiency

Explain how this tax or subsidy would achieve the socially efficient level of output. Among the various interested parties - the monopoly firm, the monopoly's consumers, and other taxpayers - who would support the policy and who would oppose it?

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