Give logical examples for explanation

Assignment Help Microeconomics
Reference no: EM13317806

What’s the role of price in allocating the resources? Give logical examples for explanation. Draw graphs where necessary.

(max three pages,Minimumm 1.5 page?

Reference no: EM13317806

Questions Cloud

Find required size of new schedule 40 steel pipe to carry : Determine the required size of new Schedule 40 steel pipe to carry 0.5 cfs (Q = 0.5 cfs) of water at 160o F with a maximum pressure drop of 10 psi per 1,000 ft.
Information management in international operations : Critically analyse the theory, concepts and models of operations and information management; Demonstrate an understanding of the importance of information management in international operations;
What is that worker''s marginal product : Frank Gunter owns an apple orchard. He employs 40 apple pickers and pays them $7 per hour to pick apples, which he sells for $3.50 per box. If Frank is maximizing profits
How many inches should the channel drop in 350feet of length : design a concrete (n = 0.013) channel that will convey 50,000 GPM. It is to be a trapezoidal in cross section with a bottom width of 7.5 feet. The side slopes are to be 1.33:1 (H:V) and it is desired to have the depth of flow constant at 2.0 feet.
Give logical examples for explanation : What’s the role of price in allocating the resources? Give logical examples for explanation. Draw graphs where necessary.
Caculate the line density of the diffraction grating : Light of wavelength 5.0*10^-7 m in air is incident normally (perpendicular) on a doubled slit. The distance between the slit is 4.0*10^-4 m, Caculate the line density in slits/mm of the diffraction grating
What is the hydraulic radius of trapezoidal channel : What is the Hydraulic Radius of Trapezoidal channel that has a bottom width of 9 feet, side slopes 3:1 (H:V) and the flow depth is 6 feet.
What is the hydraulic radius of a rectangular channel : What is the Hydraulic Radius of a rectangular channel that has a bottom width of 5 feet and a flow depth is 3.5 feet. Assume the bed slope is 1.5%, and the Manning's roughness coefficient is 0.013.
Calculate the maximum belt tension if motion is impending : A belt is wrapped around a pulley for 180 degrees. The loose-side belt tension is 100 lb and the coefficient of static friction is 0.30. Calculate the maximum belt tension if motion is impending.

Reviews

Write a Review

Microeconomics Questions & Answers

  What is the magnitude of consumer surplus

What is the magnitude of J.R.'s consumer surplus at the equilibrium price and how high must the price of ribs be for Judy to supply 20 ribs to the market?

  Which of these two alternative ways of increasing output

The owner of a fast-food restaurant estimates that she can produce and sell 1,000 additional hamburgers per day by renting more automated equipment at a cost of $100 per day.

  What may affect productivity over the short and long term

Terrorist attacks foster instability and may affect productivity over the short and long term. Do you think the September 11, 2001, terrorist attacks on the World Trade Center and the Pentagon affected short- and/or long-term productivity in the U..

  Knowledge of the factors that cause shifts in demand

Develop a response that includes examples and evidence to support your ideas, and which clearly communicates the required message to your audience.

  The demand for resources is a derived demand

The demand for resources is a derived demand.” What is meant by that statement? Why is the employment of a resource inversely related to its price?

  Calculate the point price elasticity of demand at a price

KROM-FM is currently contemplating a T-shirt advertising promotion. Sales data from T-shirt shops marketing a prototype of the KROM design indicate that Q=1,200-200P Where Q is T-shirt sales and P is price.

  What is major weakness of the national banking system

The range of reserve requirements that the Board of Governors can set for net transaction accounts is a. 3 to 6 percent b. 8 to 14 percent c. 3 to 14 percent d. 0 to 9 percent

  Firms produce in the short run

What level of output will these firms produce in the short run and are these firms operating under perfect or imperfect competition?

  How network externalities affect firm operating strategies

network externalities are often an important aspect of demand for information goods and services. (The benefits to customers of using software, participating in electronic markets, or using instant messaging increase with the number of other users..

  Explain how the new entrant acts first

Suppose that an industry cartel wishes to keep a new entrant out of an industry. Cartel members can conduct "predatory pricing", where the cartel lowers its price until the entrant leaves, after which it returns it price to the cartel's optimal (m..

  Calculate the government revenue consumers tax incidence

Calculate the government revenue, consumers’ tax incidence, producers’ tax incidence, and deadweight loss in both Beijing and Qingdao due to the excise tax in each city.

  What happens if the economy booms

Suppose you are appointed to chair the Federal Reserve. Your twin goals are to maintain low inflation and to stabilize economic activity- that is, to keep output at potential. Why are these appropriate goals for monetary policy?

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