Would the demand curve shift in the case

Assignment Help Microeconomics
Reference no: EM133613802

Problem: When the State of California issued a stay home order, people responded by driving less and decreasing their purchases for gas. Do economists call this trend a decrease in Demand for gas or a decrease in Quantity Demanded for gas? Would the Demand curve shift in this case?

Reference no: EM133613802

Questions Cloud

Especialize in mexican cuisine fernando in carmelitas : As restaurant change especialize in Mexican cuisine Fernando's in Carmelitas offer similar items on the menus hover Fernando's restaurant or position
What ai technique would you recommend : You want to predict future prices for dairy products using this data, what AI technique would you recommend?
What does the parity say about potential standard of country : What does this parity say about the potential standard of living in the country you chose? What does it say about the potential wage level?
Set of interrogatories : Identify what type of information you would be seeking through your set of interrogatories to prove that the store was negligent.
Would the demand curve shift in the case : When the State of California issued stay home order, people responded by driving less and decreasing their purchases. Would the Demand curve shift in this case?
Does this change signify elastic or inelastic demand and why : This change will result in total revenue of $16,069, up from previous total revenue of $14,925. Does this change signify elastic or inelastic demand and why?
Difference in revenue shared annually between the conference : What is the difference in revenue shared annually between the conferences (if any)?
What were unique selling propositions of tazzo : What were the unique selling propositions of Tazzo with respect to its competitors which would enable it to fulfil its prospective goals?
Matthew decided to retire from the for-profit sector : After Ronsangels went bankrupt, Matthew decided to retire from the for-profit sector and work to help the homeless acquire funds to pay rents.

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.

  Failure of the super committee is good thing for economy

Some commentators have argued that the failure of the “Super committee” is good thing for the economy?  Do you agree?

  Case study analysis about optimum resource allocation

Case study analysis about optimum resource allocation: -  Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..

  Fixed cost and vairiable cost

Questions:  :   Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month?  Explain your choice.

  Problem - total cost, average cost, marginal cost

Problem - Total Cost, Average Cost, Marginal Cost: -  Complete the following table of costs for a firm.  (Note: enter the figures in the  MC   column  between  outputs of  0 and 1, 1 and 2, 2 and 3, etc.)

  Oligopoly and demand curve problem

Problem based on Oligopoly and demand curve,  Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?

  Impact of external costs on resource allocation

Explain the impact of external costs and external benefits on resource allocation;  Why are public goods not produced in sufficient quantities by private markets?  Which of the following are examples of public goods (or services)? Delete the incorrec..

  Shifts in demand and movements along the demand curve

Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..

  Article review question

Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:

  Long-term growth, international trade & globalization

Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..

  European monetary union (emu) in crisis

"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"

  Development game “settlers of catan”

Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"

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