Display the demand where the price is always zero

Assignment Help Business Economics
Reference no: EM132083261

How do we draw a supply and demand curve for a limited (inelastic) supply of a free service, where the demand has doubled in ten years? I know the supply is vertical, but not sure how to display the demand where the price is always zero?

Reference no: EM132083261

Questions Cloud

Gain to society of the innovation : Given that the net gain to society of the innovation is positive, why might a government still want to suppress the innovation?
Explore early childhood academic courses : I know they used corn to make ethanol but didn't know they've moved on to using the stocks and stubble left over after the harvest.
What effect will order have on the company short-term profit : Walnut has received a special order for 2,700 units of its product at a special price of $200. The product normally sells for $260 and has the following.
How are his policies currently affecting the world : How would you explain the general economic interest of Donald Trump? How are his policies currently affecting the world?
Display the demand where the price is always zero : How do we draw a supply and demand curve for a limited (inelastic) supply of a free service, where the demand has doubled in ten years?
When calculating cpi : When calculating CPI, is it just a number or a percentage?
Compute the cash payback period : Wallowa Company is considering a long-term investment project called ZIP. ZIP will require an investment of $116,800. It will have a useful life of 4 years.
Perform calculation in order to get the correct answer : Numbers have been revised, must perform calculation in order to get the correct answer. Recall the Monopoly Pricing formula using Demand Elasticity
Discuss about the walsh company production : Walsh Company expects sales of Product W to be 60,000 units in April, 84,000 units in May and 79,000 units in June. The company desires that the inventory.

Reviews

Write a Review

Business Economics Questions & Answers

  What is fiscal policy

What is fiscal policy? If there were a recession, how could fiscal policy be utilized in an attempt to recreate full employment? What would be appropriate fiscal policy if there were inflation?

  Calculate the present value of the net benefits

Suppose the MWTP in periods 1 (now) and 2 (one year from now) is given by P = 8-0 4q Marginal extraction cost = $2, r = 10%. The available supply is 20 units Suppose 12 units are consumed in period 1 and 8 units in period 2 Calculate the present valu..

  Contrast the impact of a faster population growth

Compare and contrast the impact of a faster population growth on the standard of living (measured as output per worker) in the models of Solow, Malthus, and Kremer.

  If a price is above equilibrium

If a price is above equilibrium,

  Calculate the changes in consumer and producer surplus

In June 2008, the U.S. retail gas price jumped from $3 to $4 a gallon. This is a 33% increase in price from January 2008. During that time, the total quantity of gasoline purchased fell by 3%. Supplies of gasoline produced also decreased from one mil..

  Average cost of production

The average cost of production _______ if there are scale economies, and ________ if there are scale diseconomies.

  Annette ability to make purchases in france

Describe what effect this change will have on Annette's ability to make purchases in France and explain why.

  Resources market and the product market

Distinguish between the resources market and the product market in the circular flow model.

  Actors other than marginal revenue product probably

The president of the United States receives an annual salary of $400,000. Derek Jeter, shortstop for the New York Yankees, receives an annual salary of $23.2 million. If the president of the United States actually contributes more to society than Der..

  Which costs would you consider and why

Also, in deciding whether to drive from New York to Pittsburgh(about 1,000 miles round trip) to visit a friend, which costs would you consider and why?

  Higher maintenance costs

The two-pump solution has slightly higher maintenance costs, but it is more flexible and reliable. What criteria should you use?

  How much cash should one pay for it

A business is generating $1000 a month for the next 5 years at a nominal interest rate of 12% compounded monthly. How much cash should one pay for it?

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!

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