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Supply and Demand

Discussion Questions on Supply and Demand

1) Government intervenes in the free market by many different ways. For example, regulators may use price controls, impose taxes on consumers as well as on producers and give subsidies to producers. What would be the intended outcome in the market by each of the above government actions? Give a real-world example of how govern

Volcanic eruptions and real GDP

Suppose the recent volcanic events in Iceland, which disrupted European air travel significantly, represented just the beginning. In other words, suppose that experts predict a world-wide series of huge eruptions from active volcanoes. The Yellowstone caldera is anticipated to be the largest--the caldera is roughly 30 miles by

Economic Equilibrium Policy Questions

Problem sets/policy questions. 19. Suppose that the economy starts at equilibrium and the mpc = 0.8. What would be the effect of a 500 increase in taxes once all the rounds of the multiplier process are complete? 20. Assume the government cuts its purchases by $150 billion. As a result, the budget deficit is reduced by $40 b

Micro question...Please help!!!

If we believe that the laws of supply and demand always hold, why is it that the "popular" gifts for the holidays always sell out early? Doesn't the quantity supplied always equal the quantity demanded? a. Pick an item that is for sale b. Describe the market c. Does quantity supplied equal quantity demanded most of the

Supply: Production, Costs, and Profits

Microeconomics is the study of economics at the individual or micro level. One of the most well known microeconomic models is the production possibilities frontier, which is the maximum combination of output that an economy can produce given resources and technology. For this SLP, we will focus on the production of a country oth

Supply: Production, Costs, and Profits

Can you assist with question below? Blinder, A.S. "Free Trade." Library of Economics and Liberty. Retrieved November 17, 2009 from: Chang, H (2007) "Protecting the Global Poor." Prospect Magazine. Retrieved November 17, 2009 from:


Based on scientific nutritional studies in most countries, income of $1 a day does not provide sufficient food, shelter and clothing to live. Under these conditions the medical risk of death is high. This statement is: a normative statement. a subjective statement. an art-of-economics statement. an obje

Please perform problems in QM for Windows: Chapter 4 (Linear Programming: Modeling Examples) In QM for Windows Problems 11, 16, 24, and 37 (include both model formulation and computer solution) 11. The Pyrotec Company produces three electrical products- clocks, radios, and toasters. These products have the following requirements... 16. The Hickory Cabinet and Furniture Company produces sofas, tables, and chairs at its plant in Greensboro, North Carolina. The plant uses three main resources to make furniture-wood, upholstery, and labor. The resources requirements for each piece of furniture and the total resources available week are as follows... 24. Brooks City has three consolidated high schools, each with a capacity of 1,200 students. The school board has partitioned the city into five busing districts-north, south, east, west, and central-each with different high school student populations. The three schools are located in the central, west, and south districts. Some students must be bused outside their districts, and the school board wants to minimize the total bus distance traveled by these students. The average distances from each district to the three schools and the total student population in each district are as follows... 37. Green Valley Mills produces carpet at plants in St. Louis and Richmond. The plants ship the carpet to two outlets in Chicago and Atlanta. The cost per ton of shipping carpet from each of the two plants to the two warehouses is as follows... (Please see the attachment)

Linear Programming: Modeling Examples) In QM for Windows . Please see the attachment.

Aggregate demand / aggregate supply

Please help me to solve I am having difficult understanding some of them. For each of the following state whether you would draw an aggregate demand or aggregate supply diagram and predict what shift each situation would in the AS or AD curve and why so. Assume full employment at the starting point in each case. a.

Managerial Economics Game Theory (In words Documents)

Question 1 Alice and Bob are at a strange auction. The item up for auction is $ 20. The rules are that no one can bid twice in a row and that the highest bidder gets the $ 20. Also, and this is very strange, the highest bidder and the next highest bidder have to pay their bids. For example, if Bob bids $ 5, Alice bids $ 6,

Telephone industry and AT&T

I need the following questions answered about integrating ideas from the telephone industry specifically about AT & T. Analyze from both the Demand curve and Supply curve perspectives. Try to include a discussion of elasticity and the demand curve as well as type of market. Make sure you also include some history etc. Speci

Examine food prices in the United States

Assume initially that the demand supply for premium coffees (one-pound bags) are in equilibrium. Now assume Starbucks introduces the world premium blends, demand rises substantially. Describe what will happen in this market as it moves to a new equilibrium. If a hard freeze eliminates Brazil's premium coffee crop, what will hap

Economics case study

Please share your thoughts on the Monsanto (you could refer to the specific questions as stated in the case). It would help if you were to update the case with more current information on Monsanto (for example, by going to Please see attachment of case study and answer questions including the one above.

Unemployment rate .

. Use the following to answer questions a. and b.: All figures are in billions of dollars: a. What is the GPD? b. What is the NDP? 2. Use the IS curve below for Questions a. and b.: a. At what point (1, 2, 3, 4 or 5) will the economy be located if aggregate output is below the level of planned spending and, if a

Perfect Competition and Other Economic Concepts

Answer all questions in a full and complete manner, providing examples as necessary to fully articulate your view. 1) If the perfect competitor is losing money in the short run, what happens in the market to drive up the price? 2) How does the demand curve faced by the monopolist differ from that conforting the perfect com

Exchange rate / foreign currency

Hi there: thanks for help and graphs with this question! __________________ In this question, assume that the euro zone is the home "country" and the United States is the foreign country, which means that the exchange rate e, which has the dimensions of local currency per unit of foreign currency, is in units of euros per d

Analyze Article

Select an article in a newspaper or magazine that discusses a US government policy on goods or services. Analyze the situation: Summarize the article using at least three economic terms and theories covered in class. Identify the impact of the policy on Demand or Supply of the good(s) or service(s). Discuss the change(s).

Demand Equation

A television station is considering the sale of promotional dvds. It can have the dvds produced by one of two suppliers. Supplier A will charge the station a set-up fee of $1200 plus $2 for each dvds; supplier b has no set-up fee and will charge $4 per dvd. The station estimates its demand for the dvds to be given by Q = 1600

Health care economics

If the interest group theory applies to hospitals, why doesn't it also apply to nursing homes? Would a doctor-owned, for-profit hospital be as attractive to physicians as a nonprofit hospital? Can we say which are the most efficient hospitals nonprofits or for-profits? Which are the most efficient nursing homes? What qualific

Microeconomics Homework Assignment

1) Suppose that a market is described by the following supply and demand equations: Qs= 2P Qd= 300-P a. Solve for equilibrium price and the equilibrium quantity. b. Suppose that a tax of T is placed on buyers, so the new demand equation is Qd= 300- ( P+T) Solve for the new equilibrium. What h

Excellent graphs and descriptions (sample problems included!)

Global Economic Environment of the Firm Question 1 Consider the following hypothetical information about the current demand for final goods and services. All variables are in billions of dollars. Consumption demand: C = 800 + 0.8YD Investment demand: I = 700 Government demand: G = 2000 Taxes: Ta = 0.2Y Tra

Types of markets, profit-maximizing choices, output

Types of markets, profit-maximizing choices, output, price, Consumer surplus and produce surplus.I need help on how to calculate the problem on the subject that i have mentioned. I having trouble understanding them.

Walmart report

Discuss supply and demand as well as elasticity concepts of Walmart. Incorporate these concepts to validate how the company establishes its pricing strategy. Analyze the company based on the following points: 1 Provide a brief introduction Walmart: corporate office location, years in business, revenue, areas and number of worl

Economics: Demand & Supply, Market, and Equilibrium

Multiple Choice: P(1) 1. Which of the following will cause a movement along the demand curve for good A? a. a change in the price for a close substitute b. a change in the price of good A c. a change in consumer tastes for good A d. a change in consumer income. 2. On a Cartesian graph of

Supply and Demand of Real Estate

In this activity you will need to go to the website. Follow the instructions for "Finding a Home", and check housing prices for a 3-bedroom, 2-bath house in several cities, for example, San Francisco, CA; Topeka, KS; Dallas, TX; Concord MA; and Seattle, WA. Explain why housing prices vary from city to city. Clearly e

Profit Max

Hello, I have attached some HW problems that I need help on. Thanks!

Economic Optimization

CHAPTER 3-DEMAND AND SUPPLY Note: You must show all your calculations MULTIPLE CHOICE 1. Surplus is a condition of: a. excess supply. b. a deficiency in supply. c. market equilibrium. d. excess demand. 2. A demand curve expresses the relation between the quantity demanded and: a. income. b. advertisi