How to identify changes in market conditions

Assignment Help Microeconomics
Reference no: EM13221825

identify changes in market conditions and their effect on equilibrium price and quantity for the following:

1. the wages for all dental assistants increase, increasing the costs of inputs.

2. the government provides national dental benefits for all U.S. citizens that cover 100% of the cost of all dental services. There are two effects of this policy. First, there will be an increase in the number of consumers of dental services. Second, there will be fewer dentists willing to provide dental services, resulting in some dentists removing themselves from the market entirely.

Reference no: EM13221825

Questions Cloud

Explain what is the pressure of the air in the basketball : a basketball is inflated to 9.0 psi (pounds per inch) above atmosphere pressure of 14.7 psi ( a total pressure of 23.7 psi). The diameter of the basketball is 10 inches. What is the pressure of the air in the basketball, expressed in atmospheres?
Determine what is the estimated population mean : A state meat inspector in Iowa has been given the assignment of estimating the mean net weight of packages of ground chuck labeled "3 pounds." Of course, he realizes that the weights cannot be precisely 3 pounds. A sample of 36 packages reveals th..
Define the osmotic pressure of a solution : Calculate the osmotic pressure of a solution that contains 1.22 g of sucrose (C12H22O11) dissolved in 100. g of water at 25°C. (Assume the volume of the solution is 100. mL.)
What is the mean of the sampling distribution : a. What is the mean of the sampling distribution?
How to identify changes in market conditions : the government provides national dental benefits for all U.S. citizens that cover 100% of the cost of all dental services. There are two effects of this policy. First, there will be an increase in the number of consumers of dental services. Second..
Explain what mass of formaldehyde gas must be released : What mass of formaldehyde gas must be released from building materials to produce a concentration of 50 ppm of the gas in a room with dimensions of 4m*5m*2m?
What is the probability that the mean milk production : 4. Although most of us buy milk by the quart or half gallon, farmers measure daily production in pounds. Ayreshire cows average 47 pounds of milk a day with a standard deviation of 6 pounds. For Jersey cows, the mean daily production is 43 pounds wit..
Compute the molecular weight of a polymer : Estimate the molecular weight of a polymer if a 100.-mL solution of 6.5 g of the polymer in toluene has an osmotic pressure of 0.044 atm at 27°C.
What will be the short-run equilibrium price of street art : Kate is one of 60 price-taking street artist. she and other street artist each produce their artwork with total costs given by SRTC = 3q^2 where q is the armound produced by each artist. the demand for such artwork is given by Q = 600 - 10P.

Reviews

Write a Review

Microeconomics Questions & Answers

  The free rider problem

Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.

  What would likely be the best entry mode

We typically focus on firms from well-developed economies entering markets of less developed economies. Do firms from less developed economies have a chance of success if they enter developed markets such as the United States What competitive adva..

  Impact of tariffs and quotas on international competition

Determine the impact of tariffs and quotas on international competition and discuss two recent examples and how it effected your employer's industry.

  What happens to the supply and demand

Beer and pizza are complements because they are often enjoyed together. When the price of beer rises, what happens to the supply, demand, quantity supplied, quantity demanded, and the price in the market for pizza.

  Would the cards count as part of the money supply

Many colleges sell special cards that students can use to purchase everything from textbooks or meals in the cafeteria to use of washing machines in the dorm. Students deposit money in their cards; as they use their cards for purchases.

  Entire market and for an individual bottled water company

Now suppose that a scientific study find that tap water is toxic, and everyone should drink only bottled water. Illustrate the impact of this study on the market and each firm. Use graphs to illustrate your answer.

  Explain in economic theory

Suppose Virginia withdrew $10,000 from her bank. If the reserve ratio is 2 percent theen this transaction willl lead to decreasing ____ in checking account balance.

  Identify economic concepts - comparative advantage

Choose a United States firm with global operations.  Discuss the company's activities outside the United States

  Unbiased estimation procedures to end point estimates

The population proportion of economists predicting growth of at least 2.5% in real gross domestic product. The variance of the sample proportion of economists predicting growth of at least 2.5% in real gross domestic product.

  Changes in price-effect on supply-demand

Assume that someone told you that an increase in price of DVD players caused the decrease in demand for DVDs. Is this what you would predict? Why or why not?

  Determining marketing mix

Marketing mix is controllable set of activities that the firm employs to respond to the wants of its target markets. Make a report on the marketing mix and keep the following questions in mind:

  Advertising between competition and oligopoly

Consider some of products which are widely advertised on television. By what type of firm is each produced the perfectly competitive firm, an oligopolistic firm, or another kind of firm? How many major products can you think of that are not advert..

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