Elucidate the long-run which will take place this industry

Assignment Help Business Economics
Reference no: EM1315416

Q. Numerous "hookah bars" at which patrons can pay to utilize water pipes to smoke regular also flavored tobaccos have popped-up around the country. Hookah bars are particularly popular with college student's

a. Assume which the market for the service of hookah bars is in long-run equilibrium. Then two events occur: (1) more cities end regulation which had generated fixed cost for hookah bars also (2) many nonstudent adults discover previous unknown preferences for the services of hookah bars. Utilize diagrams to trace through the short-run effects on the market price of hookah bars services, the marginal revenue also marginal cost of these services at a typical hookah bar also the equilibrium quantity of services provided both by a typical hookah bar also by the hookah bar industry.

b. Redraw your diagrams Elucidate how the situation at conclusion of your answer to part (a). Utilize these new diagrams to Elucidate the long-run which will take place in this industry.

Reference no: EM1315416


Write a Review


Business Economics Questions & Answers

  Ecommend that prisons be privatized

It has been estimated that private prisons are about 10 percent cheaper, on a every prisoner basis, than public prisons.

  Values of the real interest rate

Find the equilibrium values of the real interest rate, consumption, investment, and the price level.

  Aggregate demand for discs

If Rob and Nate are the only people who purchase discs, graph the aggregate demand for discs and write down the equation for this aggregate demand function.

  Government spending to achieve this goal

The government wants to increase real GDP demanded to $15 trillion at the given price level

  Excise tax is levied on the buyers of a good

Excise tax is levied on the buyers of a good, then after the tax buyers will pay for each unit of the good.

  Politician promises a program

Suppose a politician promises a program that will give Amanda and Britney 70 units of utility for each.

  Several ways that people and businesses

List several ways that people and businesses in the green movement are participating.

  Meeting-competition clauses may serve

Explain how meeting-competition clauses may serve as an enforcement mechanism for price-fixing agreements of cartels.

  Justice department would challenge

Determine whether the Justice Department would challenge a merger between two firms in an industry with 10 equal-sized firms.

  Family of charles martel

Subsequently the customer paid the balance on 22 October 2012. To customer the Credit terms offered.

  Find out the optimal price-quantity

Find out the optimal price-quantity if the firm can price discriminate but cannot charge a two part tariff.

  Number of pretzels

This would be ideal because he would have the same number of pretzels as he would soda leaving no money left to spend.

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