Increase in supply as a decrease in the prices

Assignment Help Business Management
Reference no: EM131277998

Please assist with these two part question. Your kind assistance will be appreciated

A) Economist Jones defines an increase in supply as a decrease in the prices needed to ensure various amounts of a good being offered for sale. Economist Brown defines an increase in supply as an increase in the amounts that producers will offer at various possible prices. Economist Clark defines an increase in supply as an increase in the amount firms will offer in the market which is caused by an increase in the price of the product. Which, if any, of these is defining an increase in supply correctly? Explain.

B) Suppose all firms in a perfectly competitive market structure are in long-run equilibrium. Then demand for the firms' product increases. Initially, price and economic profits rise. Soon afterward, the government decides to tax most (but not all) of the economic profits, arguing that the firms in the industry did not earn them-the profits were simply the result of an increase in demand. What effect, if any, will the tax have on market adjustment?

Reference no: EM131277998

Questions Cloud

Describe how and why information systems are used today : Write a research paper on the given topics:Describe how and why information systems are used today.
Demand and the marginal revenue curves : The marginal cost of this firm is equal to its average total cost and is constant at $4 per unit produced. Set up diagrams that shows the demand and the marginal revenue curves of this firm, as well as the quantities and prices it charges in each ..
How much the innovation is worth to bigjet : Bigjet plans to launch a weekly flight on a long-haul route. It faces four sets of decisions corresponding to short-run, medium-run, long-run, and very long-run operations.
Economic justification for intellectual property rights : a) Briefly discus the economic justification for intellectual property rights b) Given your answer above, does intellectual property suffer any limitations
Increase in supply as a decrease in the prices : Economist Jones defines an increase in supply as a decrease in the prices needed to ensure various amounts of a good being offered for sale. Economist Brown defines an increase in supply as an increase in the amounts that producers will offer at v..
Describe the culture of your organizational behavior issues : Describe the culture of your organizational behavior issues and what challenges are present. Discuss the systems that are the most appropriate to introduce into your organization.
Rewrite the given research paper on sdlc models : Rewrite the given Research paper on SDLC Models
Calculate the coefficient for the cross elasticity : 1. For the following three cases, use a midpoints formula to calculate the coefficient for the cross elasticity of demand and identify the type of relationship between the two products. SHOW calculations.
Why each place selecte would be viable option for recruiting : Select at least five places you would recruit for a customer service assistant and at least five places you would recruit for production line workers. Why each place you selected would be a viable option for recruiting employees.

Reviews

Write a Review

Business Management Questions & Answers

  Where is the greatest potential for e-commerce businesses

Having systems in place to ensure that collected information is accurate and reliable represents which form of information security

  Document a customer service survey-a set

Design and document a customer service survey-a set of at least six questions-that might be administered to your customers (either internal or external customers). Use a PC to set out and format the questionnaire and submit the entire document to ..

  Risks from a project management standpoint

Suppose you are the manager for a state level campaign. The candidate has just declared his candidacy and you are charged with planning and executing his campaign for election.

  Principal and interest components of the balance

The balance, including interest, after 11 months, on a loan at 9.9% interest is $15,379.58. What are the principal and interest components of the balance?

  Describe the methodology behind constructing one.

Summarize the project requirements and other assumptions (i.e., budget, human resources, workload, environmental dependencies, etc.). Define a work breakdown structure and describe the methodology behind constructing one.

  Ethical principles of the global business standards codex

By using corporate social responsibility (CSR) the tobacco industry is seeking to change their unethical public image. Evaluate strategy using three ethical principles of the Global Business Standards Codex.

  Problem regarding the hostile environment

With respect to sexual harassment (SH) - in the case of "hostile environment" (one of the three types) - who decides what constitutes SH?

  Develop a static object model by drawing a class diagram

a. Develop a static object model by drawing a class diagram that shows all the object classes, attributes, operations, relationships, and multiplicities. For each operation, show its argument list.

  What is the planning function management of global

what is the planning function management of global crossing?prepare an answer discussing the following for global

  Explain any legal issues regarding selected clause

Explain any legal issues regarding your selected clause How your contract clause can be applied in a business managerial setting for either a personal, real, or IP dispute or an IP property clause regarding either owner of IP or trade secrets.

  Construct a sustained argument in response to the question.

Construct a sustained argument in response to the question.

  Rate the importance of technology

Rate the importance of technology's role in the process and support your rating.

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