Discuss how this scenario relates to producer

Assignment Help Microeconomics
Reference no: EM13844124

Discussion Question: 1.Assume that you were ready to buy a custom tailored dress (or men's suit) and you are prepared to pay up to $200 for it. Also assume that the tailor is prepared to sell that item of clothing for as little as $100.

When you arrive at the tailor shop, the posted price for the item is $150. Discuss how this scenario relates to producer and consumer surplus and how such surpluses, if any, affect buying and manufacturing decisions

2.Discuss any recent purchases you have made and for which you feel that a similar rationale seemed to be at work.

the first post was just the answer excepr what my professor is asking this: How do you suppose all of this notion of consumer surplus is affected by globalization? Does globalization lead to greater competition, price deflation, and greater consumer surplus?

 

 

Reference no: EM13844124

Questions Cloud

Calculate the final molarity of barium cation in solution : calculate the final molarity of barium cation in the solution
The best in future endeavors : 1. Describe how you feel you improved your knowledge, skills, abilities, and yourself in this class. During the course of eight weeks, I have learned invaluable economic principles and the relationship of transportation economics focused on transport..
Capacity utilization rate-capacity focus and flexibility : Jill is concerned that the latest short term demand forecast for dog grooming at her fifteenth street dog salon is higher than her salon capacity. As she doesn't want to turn business away, she must find a solution to optimizing the capacity utilizat..
What is the maximum firing range of the cannon : what is the maximum firing range of the cannon
Discuss how this scenario relates to producer : Discussion Question: 1.Assume that you were ready to buy a custom tailored dress (or men's suit) and you are prepared to pay up to $200 for it. Also assume that the tailor is prepared to sell that item of clothing for as little as $100.When you arriv..
Define role of culture-strategic leadership-entrepreneurship : Define the role of culture, organizational structure, strategic leadership and entrepreneurship in the overall planning process.
What is the magnitude and direction of the force : what is the magnitude and direction of the force
How might starbucks improve profitability in japan : Identify the controllable and uncontrollable elements that Starbucks has encountered in entering global markets. How might Starbucks improve profitability in Japan
.the importance of the usage of rfid tags : Write your personal opinion with the essay below.The importance of the usage of RFID tags is not a question. How the industry can implement and use RFID tags more efficiently and provide a more accurate real time update to the consumer is in developm..

Reviews

Write a Review

Microeconomics Questions & Answers

  Describe the baddeley-hitch model of memory

Describe the Baddeley-Hitch model of memory

  Since underprice leadership by the dominant firm

Since underprice leadership by the dominant firm, the firms in the industry following the leader behave as perfect competitors or price takers by always producing where the price set by the leader equals the sum of their marginal cost curves, the fol..

  Price of gasoline in the united states

What do you think will happen to the price of gasoline in the future and why? What are some ways that the United States can keep the price of gasoline under control?

  Demand for dollars and supply of dollars against exchange

suppose that ex is exchange rate between u.s. dollar and the chinese yuan in that ex indicates the number of yuan

  A group of rogue french farmers has gone on a furious egg

a group of rogue french farmers has gone on a furious egg breaking rampage destroying tens of thousands on roads and

  An increase in the nominal money supply will shift

An increase in the nominal money supply will shift

  The portion of principal has been paid back richard borrows

after visiting several automobile dealerships richard welch selects the car he wants. he likes its 10000 price but

  What was the inflation in the prices faced by consumers

Suppose that Jean Splicer, an investor, buys $300,000 of shares of stock in a diversified bundle of Bio-tech firms and exactly one year later sells those shares for $315,000. What was the inflation in the prices faced by consumers?

  Difference between common stock and preferred stock

What is the difference between a publicly held company and a privately held company? How can the two types of companies be identified?

  Determining opportunity cost

Describe why it would cost Andre Agassi or Venus Williams more to leave professional tennis tour and open the tennis shop than it would for the coach of the univeristy tennis team to do so.

  Revenues generated in first year of operations 15 million

you have worked as a real estate agent for 10 years and are earning about 100000 per year with your current agency. you

  What strategies you used to formulate a viable argument

Explain what strategies you used to formulate a viable argument - Explain how you plan to support your thesis statement with compelling arguments and counterarguments.

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