Demand and supply, Marketing Management

Assignment Help:

Explain in words and using a graph why the ban on price gouging may cause a long line for gasoline. Label the axis and all the lines. Be precise.

Price gouging in this context, refers to the rise in price of an essential good during /after a disaster. The cause is the fall in supply. the S curve shifts up to allow price to rise to P1, compared to P* earlier in  normal times.

With a ban on gouging, price will be back to P*. Now at this level, demand > supply. this leads to a shortage, and long lines as the no of people who demand the good > the supply of the good at P*.

700_demand and supply.png


Related Discussions:- Demand and supply

Concept of rules and discretionary central banking policies, Question 1: ...

Question 1: (a) Clearly explain the concept of rules versus discretionary central banking policies. (b) Discuss the various risks faced by the financial system and disc

Factors influencing changes in product mix, Factors influencing changes in ...

Factors influencing changes in product mix 1.       Change in market demand: the change in the demand of a product (due to change in habits, fashion, purchasing power, in

What is way to define value in marketing of customer, What is the way to de...

What is the way to define the customer’s value in marketing? As we can define the customer value like the difference among the values the customer gains by owning and using a p

Marketing MBA 565, You are currently working for a company called Pierogi''...

You are currently working for a company called Pierogi''s and More....

Value chain, a value change of a company

a value change of a company

Assingment, Marketing strategy development

Marketing strategy development

Define the concept of relationship marketing, Question 1: (a) Using an...

Question 1: (a) Using an example from the local context, explain how an organisation can counter negative publicity. (b) Discuss the impact that customer retention has on

.marketing research, Illustrate why marketing research is important to a fi...

Illustrate why marketing research is important to a firm specially in a competitive market situation

Process of the environmental analysis, Procedure of the environmental analy...

Procedure of the environmental analysis: Step 1: assess the nature of the environment: it is useful to take a view of the nature of the organization's environment in terms of

Write Your Message!

Captcha
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