Think of a product that you will buy more of if its price goes up. To which category does this product belong? Provide reasons for your answer. Develop a demand curve for it. Also show the condition of market equilibrium for these categories of goods.
Compare the demand curve of these goods with the goods that you will buy more of if the price comes down.
Create demand and supply curves in Microsoft Excel and create a Microsoft Word document to present the analysis based on the curves.© BrainMass Inc. brainmass.com October 24, 2018, 10:15 pm ad1c9bdddf
See the attached file for an example of a hypothetical demand and supply curve for a restaurant dinner. To do this, just create an equation for demand based on price, such as 10-2P. People will buy less of this product as the price increases, as indicated by the negative sign. Then create a supply curve such as -20+3P. Restaurants will make more dinners the more they can charge as indicated by the positive sign. Now create a column of price and let excel calculate the quantity demanded and supplied at each price. Excel will also create a scatter ...
This solution creates demand and supply curves in Excel and presents an analysis based on the curves.
What would have happen to gasoline production and consumption if the government had prohibited post-Katrina price increase?
The quetion are self practices on supply and demand.
3. what would have happen to gasoline production and consumption if the government had prohibited post-Katrina price increase.(see news page 55).
6. In fig. 3.8 why is the organ demand curve downward-sloping rather than vertical?
7.The shortage in the organ market (fig 3.8)requires a nonmarket rationing scheme. who should get the available (qa) organs? Is this fairer than the market driven distribution?
8.What would happen in the apple market if the government set a minimum price of $2.00 per apple? What might motivate such a policy?
9. The world View on page 61 describes the use of prices to achieve an equilibrium in the kichen. What happen to the food at more traditional restaurants? PLEASE USE MS EXCEL SOFTWARE TO COMPLETE THE GRAPH FOR PROBLEM 9