In 2001, the box industry was perfectly competitive. The lowest point on the long-run average cost curve of each of the identical box producers was $4, and this minimum point occurred at an output of 1,000 boxes per month. The market demand curve for boxes was Qd = 140,000 - 10,000P where P is the price of a box (in dollar
2-3 page MS Word document Details: Preliminary market research indicated that target market for IPT has the following characteristics: Age groups: young adults, middle-age adults Income levels: from lower middle-class and upward Consumer groups: individual consumers and businesses Buying method: currently, 35% would bu
Microeconomics problem set - Derive the demand and supply functions for each separate market. show effects of a price ceiling on the market.
For the data below answer the following questions. Cedar City- 1 St. George- 2 QD1 QS1 P QD2 QS2 9 1 1 14 10 8 2 2 12 12 7 3 3 10 14 6 4 4 8 16 5 5 5 6 18 4 6 6 4 20 1. Derive the demand and supply functions for each separate market. Graph accurately (2 graphs). Derive the equilibrium for each market separately
Why does the burden of sales tax fall completely on consumer when the price elasticity of demand is perfectly inelastic; the seller when perfectly elastic and the prefect inelastic supply and perfectly elastic supply.
Please help write a 1,000 word report explaining the circular flow and how it relates to the aggregate supply and demand. I somewhat understand the circular flow but not the aggregate supply and demand or how this relates. If you could help with this section I could probably write a decent paper.
Question 1 Describe how the concept of scarcity affects the aggregate supply curve. Question 2: Suppose the government mandates that all companies over 50 employees must provide an increased level of health care benefits. Please explain what effect this will have on the aggregate supply curve. Question 3: Assume the e
Think about a firm that has been a state-owned, natural monopoly. If it is privatized, what kind of regulatory policies could the government follow, and what impact might they have on the firm?
Future Market Conditions of Hershey I just need to address the following topics: A. Market Structure B. Impact of new companies entering the market c. Prices
Consider you are analyzing the market for minivans. What will be the impact on the equilibrium price and equilibrium quantity of each of the following events on the minivan market? Justify your answer using the supply and demand model. a. A strike by steelworkers raises steel prices. b. Engineers develop new automated mac
Discuss the effect of consumer subsidies on the demand and supply curves of a product.
What is the impact of a trade surplus? What is the impact of a trade deficit? How do trade deficits and trade surpluses affect the firm you work for?
1.The Federal Reserve purchases $100 million worth of government securities in the open market. If the required reserve ratio is .6, what is the maximum possible increase in the money supply? 2.Please explain how the change in the money supply may impact AD and real GDP 3.Suppose that the economic news is not good and busi
Please see the attachment for details.
Perfect competition and the Monopoly; Monopolistic competition & the Oligopoly; Supply and Demand of Labor; Distribution of Income; the Balance of Payments and Exchange Rates; International Trade
1. Perfect competition and the Monopoly a. In what ways is the monopoly different from perfect competition? In what ways are they alike? Discuss explaining the conditions necessary for each of these market structures. b. How and why can the monopoly engage in price discrimination? Give examples. 2. Monopolistic compet
See the attached file for complete solution. The text here may not be copied exactly as some of the symbols / tables may not print. Thanks 1. The following problem traces the relationship between firm decisions, market supply, and market equilibrium in a perfectly competitive market. a. Complete the following table for a
About 30 U.S localities circulate their own currency with names like "Ithaca Hours" and Dillo Hours." Doing so is perfectly legal (although by law they are subject to a 10 percent federal tax, which currently the government is not collecting). These currencies are used as payment for rent, wages, goods, and so on. Are these c
1. According to the text, economics is the study of how: A) governments allocate resources in the face of constraints. B) government policies can be used to meet individuals' wants and desires. C) human beings coordinate their wants and desires in the face of constraints. D) scarce resources are allocated to their mo
Prepare a paper analyzing the current market conditions of the Airline industry including a supply and demand analysis that answers these questions: 1) Is supply increasing or decreasing and why? 2) Is demand increasing or decreasing and why? 3) Price trends (cost of productions) Include references and citat
In most developing countries, there are long lines of taxis at airports, and these taxis often wait two or three hours. What does this tell you about the price in the market? Carefully Explain with supply and demand analysis.
Please see attached file for complete questions. The locust corporation is composed of a marketing division and a production division. The marginal cost of producing a unit of the firm's product is $10 per unit, and the marginal cost of marketing it is $4 per unit. The demand curve for the firm's product is P=100-0.01Q
PART 1 Select any company and think about its buying and selling activities -- everyone buys and sells, or at least "procures" and "supplies", or otherwise participates in exchange transactions. Please address the following questions in a 2 page double spaced paper 1. Who are the organization's' clients/customers? What pr
The market demand function of a firm is given by 8P + Q - 64 = 0, and the firm's average cost function takes the form AC = 8/Q + 6 - 0.4Q + 0.08Q2. i)Determine the price and quantity for maximum sales revenue and calculate the maximum revenue. ii)Determine the price and quantity for minimum marginal costs and calculate the min
Consider a competitive market served by many domestic and foreign firms. The domestic demand for these firms' product is Qd = 500 -1.5P. The supply function of the domestic firms is QSD = 50 + 0.5P, while that of the foreign firms is QSF = 250. a. Determine the equilibrium price and quantity under free trade. b. Determine
Northern Granite company, a company in New England, installs granite counter tops in homes. When it first entered the business, the price per foot for installing a granite counter top was $180 per square foot, and Northern Granite was making substantial economic profits. However, the market price for installing kept falling as c
Catfish farming in Louisiana is a perfect competition industry. Hence, consumers of catfish are getting their catfish at the minimum cost per unit of producing catfish, and they are very happy. However, it turns out that farming catfish in ponds is producing substantial pollution run off of foul water into nearby creeks and rive
Address the answer with a few detailed paragraphs please.
1. What entity establishes a price floor and does it require government sanction for violators? Will it result in a surplus or a shortage? 2.Define equilibrium in terms of the following: -The plans of suppliers and demanders -The budget line and the indifference curve. 3. What does the concept of opportunity cost indi
The demand and supply curves for T-shirts in LA, Ca, are given by the following equations: Q= 24,000 - 500P Q= 6,000 + 1,000P where P is measured in $ and Q is the number of T-shirts sold per year. a. Find the equilibrium price and quantity algebraically. b. If the tourists decide they do not really like T-shirts
Under patent protection, a firm has a monopoly in the production of a high-tech component. Market demand is estimated to be: P = 100 - 0.2Q. The firm's economic costs are given by: AC = MC = $60 per component. a) Determine the firm's output and price. b) After the firm's patent expires, predict the new market output and pric
A monopoly has demand given by P=20,000-25Q, and costs given by C(Q)=100Q+25Q2. Find the profit maximizing level of price and output. A regulator wants to set P=MC. Is this feasible? Discuss an alternative regulatory regime, and discuss the merits of both.