User Account

All Pages

Competitive market-queues exist in a variety of settings

Assignment Help Business Economics
Reference no: EM133224160

Despite the theory of how prices are determined in a competitive market, queues exist in a variety of settings. One reason for this could be demand uncertainty - it is difficult for sellers to predict how much demand there is for their products.

a. Can you give an example of a good where demand is highly uncertain (or highly volatile)?

b. Why do you think demand uncertainty can explain why queues exist?

c. One argument for why queues exist for turf is that they are highly perishable; i.e. the product goes to waste if it is not sold on the day. Why do you think a perishable good is more likely to result in queues?

Reference no: EM133224160

Questions Cloud

How can we envision such a trade off : How can we envision such a trade off? Should we eliminate one of these outcomes if it means that the other may not be realized
Examine the importance of the PSI : Examine the importance of the PSI as it allows judges to see more of an offender than just the offense for sentencing. Who puts it together
Discuss why it was appropriate for that data : From current journals, select three articles that contain graphs or maps. For each graph or map, (a) discuss why it was appropriate for that data
Identify what you will research as your career choice : You will identify what you will research as your career choice, how you intend on networking and how you will find out on how to prepare for your career
Competitive market-queues exist in a variety of settings : Despite the theory of how prices are determined in a competitive market, queues exist in a variety of settings.
What punishment does she deserve : Question - Would you find her guilty of first degree murder, second degree, or some other crime? What punishment does she deserve
What are the key components of your budget proposal : What are the key components of your budget proposal? How would you summarize your budget to convince the city council of its merit
Provide a statement of the issue of the case : Provide a statement of the issue of the case, the details of the case background, and the way in which the court ruled, with explanation supporting that ruling
Define two techniques used in psychoanalytic therapy : Define repression, denial, and projection (defense mechanisms), and give an example of each. Define two techniques used in psychoanalytic therapy

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd