demand function for product, Economics, Microeconomics

Assignment Help:
2. You are examining the effects of a specific tax of 10 cents imposed on the sales of a product that we shall call XYZ. To carry out your analysis, assume that the market is a perfectly competitive one. You are provided with the following data:

(1) Economists have estimated the demand function for product XYZ to be:

QD = 20 – 0.50 P

Where P is the price of the product (in cents) and QD is the quantity demanded (in thousands).

Related Discussions:- demand function for product, Economics

Problems of common property resource , Normal 0 false false ...

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

MBA, The market demand for brand X has been estimated as Qx=1500-3Px-0.05I-...

The market demand for brand X has been estimated as Qx=1500-3Px-0.05I-2.5Py+7.5Pz Where Px is the price of brand X, I is per-capita income, Py IS the price of brand Y, and Pz is th

Determinants of investments, Determinants of investments: Expected Ra...

Determinants of investments: Expected Rate of Return: Investment spending is guided by the profit motive; thebusiness sector buys capital goods only when it expects such

HCA586, how do cooperative and noncooperative games differ

how do cooperative and noncooperative games differ

Price/earnings (p/e) ratio, Price/Earnings (P/E) Ratio This is a measur...

Price/Earnings (P/E) Ratio This is a measure of an organization investment potential. Literally, a P/E ratio is how much a share is worth per dollar of earnings. The price-earn

Entrepreneur, Entrepreneur: The entrepreneur or enterprise is a specia...

Entrepreneur: The entrepreneur or enterprise is a special factor of production that is in charge of the organization of the other three factors of production (land, labour and

Working with supply and demand , When you drop by the only coffee shop in y...

When you drop by the only coffee shop in your neighbourhood, you notice that the price of a cup of coffee has enhanced  considerably since last week.  You decide it's not a big dea

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