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

Market failure, What is market failure?

What is market failure?

Absolute advantage and comparative advantage, Absolute advantage is the sim...

Absolute advantage is the simplest yardstick of economic performance and it may be simply describe as If one person or a firm or a country may produce more of something with the sa

Demand, assignment of demand thorey

assignment of demand thorey

Explain the evolution of exchange rate system, Problem 1 (a) Explain th...

Problem 1 (a) Explain the evolution of exchange rate system in Mauritius. (b) According to you, what factors determine exchange rates in the long run? Problem 2 "Inf

Define law of demand, Define law of demand. Answer: Quantity demande...

Define law of demand. Answer: Quantity demanded increases as price falls, other things constant. In other words, "Other things remaining the same, when the price of a good r

Demand forecasting, What is Demand Forecasting? Explain in brief various me...

What is Demand Forecasting? Explain in brief various methods of forecasting Demand.

Banks, Banks: A company which accepts deposits and issues new loans. It mak...

Banks: A company which accepts deposits and issues new loans. It makes profit by charging more interest for loans than it pays on deposits, and through several service charges. By

Indifference curve, indiffference curve

indiffference curve

The theory of demand :the utility approach, Prove that the utility approach...

Prove that the utility approach and the indifference curve approach yield the same consumer equilibrium.

Perfect competition, The price at which output is sold in a perfectly compe...

The price at which output is sold in a perfectly competitive market is determined by

Write Your Message!

Name

Email id

Message

Verfication Code

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

User Account

All Pages