Elasticity of demand for any particular brand to be high-low

Assignment Help Microeconomics
Reference no: EM13698963

There are many brands of laundry detergent, all equally effective. Would you expect the elasticity of demand for any particular brand to be high or low? Explain.

Reference no: EM13698963

Questions Cloud

What are the firms profits : Consider the market for carbonated water and suppose that demand is given by D(p) = 100 – 5p There are only two firms producing carbonated water, each with the same constant unit cost c = 2. What are the equilibrium prices and quantities if the firms..
Different types of generic supply chain strategies : Critically discuss how a company can sustain a long-term supply chain strategy that is well-aligned with its products and markets, especially in an increasingly complex global environment.
Consider a market with only two firms : Consider a market with only two firms. Demand on this market is given by D(p) = 20 – 3p. Initially both firms have the same constant per-unit cost c1 = c2 = 2. What is the equilibrium in this market if firms behave as Bertrand competitors? How much d..
Can country continue to afford such deficits indefinitely : Assume that a country’s real growth is 2 percent per year, while its real deficit is rising 5 percent a year. Can the country continue to afford such deficits indefinitely? What problems might it face in the future?
Elasticity of demand for any particular brand to be high-low : There are many brands of laundry detergent, all equally effective. Would you expect the elasticity of demand for any particular brand to be high or low? Explain.
Suppose a consumer live two periods : Suppose a consumer live two periods, in the first have an income m1 = 30 and in the second an income of m2 = 20. Suppose the interest rate is 10% and can borrow and lend at that interest rate. What is the maximum quantity he can consume in the first ..
What would be the most important personal characteristics : How will the officers achieve integration when they will have no authority over either the administrative functions or the programs to be integrated?
Forces of demand and supply determine the price of gasoline : For your selected product, if the government places a mandated price ABOVE the equilibrium price, how would this affect the market equilibrium? Would you rather have the forces of demand and supply determine the price of gasoline, or would you prefer..
Calculate the optimal quantity and the consumer surplus : Let the inverse demand curve for tennis classes is: P = 90 - 1.5Q. If the equilibrium price is $15, calculate the optimal quantity and the consumer surplus. If price increase to $30, calculate the optimal quantity and the new consumer surplus.

Reviews

Write a Review

Microeconomics Questions & Answers

  Pareto-optimal levels of the goods

Discuss whether free markets are likely to provide Pareto-optimal levels of the goods, or whether a market failure distorts the markets.

  Draw budget line-algebraically find out her optimal bundle

Draw her budget line. Algebraically find out her optimal consumption bundle. What is her level of utility at the optimal consumption bundle? Indicate the optimal point on the budget line and draw a hypothetical indifference curve that is tangent to t..

  What are the effects of temporary decrease in govt spending

Discuss, with the help of Krugman-Obstfeld-Melitz' AA- and DD-curves, the effects of a contractive fiscal policy (a decrease in government spending) on the interest rate, the nominal and real exchange rates, output and the price level.

  Which of the given will make supply of the firms

1. which of the following will ceteris paribus will cause an increase in the supply of whole wheat cereal?a.

  Explain with illustration the abnormal supply curve

Explain with illustration the abnormal supply curve

  A precise statement of the rationale for a business

A precise statement of the rationale for a business and a step-by-step explanation of how it will achieve its goals is a

  Explain how role of the government affects each market

you have been hired as a consultant by your local mayor to look at the various market structures. your role is to

  What is the return on investment

Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 ..

  The domestic demand for goods x is dd 100 - 20p the

the domestic demand for goods x is dd 100 - 20p. the domestic supply of good x is sd 20 20pa. draw the domestic

  What nonprogrammed decisions need to be made by the public

In view of the current events in the Business World (unemployment, stock market down, businesses closings, and declaring bankruptcy) what nonprogrammed decisions need to be made by the public and Businesses

  Consumer-driven health plans as patient write the

1. consumer-driven health plans as a patient write your recommendations to accept or decline at least three types of

  Create the graph showing supply and demand in tablet case

as an economist for abc plastics your boss has asked you to respond to some questions she has regarding the companys

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