User Account

All Pages

The preference for pepsi & the cost of production both have

Assignment Help Microeconomics
Reference no: EM13315914

With an aid of diagram (consist of both demand & supply curves) show & explain what happens to the equilibrium price & quantity when:

1. the preference for pepsi suddenly increases 

2. the price of milk has increased which increased the cost of ice cream production

3. The price of sugar fell which is jointly consumed with tea (show the effect on tea market) 

4. The preference for pepsi & the cost of production both have increased (magnitude effect is same)

5. Explain with a diagram what is price floor & whats can be the effects of it?

Reference no: EM13315914

Questions Cloud

What judgment about the change in the economic well-being of : Suppose you know that Canada's GDP in 1999 was $900 billion, and Canada's GDP in 1933 was $9 billion. What judgment about the change in the economic well-being of average Canadians could you make? Explain.
Explain why inequality is considered to be a social bad : Explain why inequality is considered to be a social “bad” by many people. In what way could inequality be a social “good”?
The price of digital cameras falls for consumers : Given the products below and the events that affect them, indicate what happens to demand or supply, and the equilibrium price and quantity in a competitive market. Identify the determinant of demand or supply that causes the shift. Justify your answ..
Prepare a report to the top management of your company to : Assume that your company is one of the leading importers of FMCG in the Maldives. Because of dollar shortage in the country, you are required to buy $ at higher rate than the official rate determined by the central bank
The preference for pepsi & the cost of production both have : With an aid of diagram (consist of both demand & supply curves) show & explain what happens to the equilibrium price & quantity when:1. the preference for pepsi suddenly increases 2. the price of milk has increased which increased the cost of ice cre..
Laws pertaining to worker compensation and rights : There are various regulations or laws pertaining to worker compensation and rights. Some of these laws and regulations are:
Discuss the cyclical behaviour of the budget deficit in : Discuss the cyclical behaviour of the budget deficit in South Africa and provide an explanation for this behaviour. (half a page with references)
Rewrite the extract.pl using bioperl : Rewrite the "extract.pl" using BioPerl, including the use of Bio::SeqIO to read the genome FASTA file ("mystery_seq1.fas") and the use of Bio::Seq for obtaining coding sequences and translating sequences.
Explain the budget identity and fixed budgetary commitments : Explain the budget identity and fixed budgetary commitments, with specific reference to the South African 2009/2010 budget, as constraints on the pursuit of discretionary fiscal policy

Reviews

Write a Review

Microeconomics Questions & Answers

  An appropriate indifference curve diagram.

Describe in words how a corner solution to the consumer's utility maximization problem differs from a conventional solution. Illustrate this description with an appropriate indifference curve diagram. (b) Thinking of your own consumption over the ..

  What are the expected values and variances

Compute the probability of failing to stop at an intersection, given the driver was on the cell phone.

  Exaggerate the firm''s profit or costs

what you must give up to get something; what you are willing to give up to get it. the amount of money that you pay on the margin; the amount of money that you receive on the margin. what you are willing to give up to get it; what you must give up to..

  What might be the long run effect of raising price of gas

When a government wants to increase tax revenue, they will often increase the sales tax on gasoline. Using price elasticity of demand, explain why the tax would be placed on gasoline rather than, say, yachts. What might be the long run effect of r..

  Which is an example of the law of diminishing returns

a company has sales of $30 million. A million dollar advertising campaign increases sales $10 million to $40 million, but a two million-dollar campaign raises them $15 million to $45 million. Which of the following can U.S authorities NOT do to con..

  A product falls at the same time supply rises

If demand for a product falls at the same time supply rises, which of the following might we expect?

  Explain how can the price of panadol be controlled

After few years, cost of production of Panadol increased due to increase in price of paracetamol (one of the main ingredient used in the production of Panadol). Due to this increase people started using Disprine instead of Panadol.

  Why is it that a profit-maximizing businessman

Question 2: Why is it that a profit-maximizing businessman would always raise prices when facing an inelastic demand curve, but might or might not raise prices when facing an elastic demand curve? Explain and justify your answers in detail.

  Calculate both change in government purchases of goodsand

In each of the following cases, either a recessionary orinflationary gap exists. Assume that the aggregate supply curve ishorizontal so that the change in real GDP arising from a shift ofthe aggregate demand curve equals the size

  The absolute value of the elasticity of demand

Suppose that the market for gnomes is yet to reach equilibrium, and that the current price and quantity in the market for gnomes.

  Estimating consumer surplus

The demand curve for the product X is given by Qdx = 460 - 4Px. How much consumer surplus do consumers receive when Px = $35?

  Determine equilibrium price

Suppose market demand and supply are given by Qd = 300 - 4P and QS = -50 + 3P. The equilibrium price is: a $35. b $40. c $50. d $60.

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd