Solution-Draw the market and label the initial price and

Draw the market and label the initial price and quantity

Assignment Help Business Economics

Reference no: EM133133135

1) Shift the curve to show what will occur in the milk industry if technological progress makes it cheaper and easier to produce milk.

Draw the market and label the initial price and quantity P_E and Q_E,
Decide which group (consumers or producers) is affected most directly and immediately then shift the curve
Label the new price and quantity
Compare the new Price and Quantity with the initial price and quantity

2) Market for Tutoring services.

P	Q^D	Q^S	Q^S'
$5	100	20
10	80	40
15	60	60
20	40	80
25	20	100

Graph the Demand and supply curve (make sure to label the graph properly)
Show the equilibrium price and quantity
Show on the graph the shortage and surplus areas
Assume baby-sitting cost went down, and the supply increased by 40 hours at each price.

Show the new supply table in the provided space (Q^s')
Graph the new supply curve and show the new equilibrium

Reference no: EM133133135

Questions Cloud

Describe what is involved in corrective action : Describe what is involved in corrective action. Describe a plan of corrective action for this employee.

Spreadsheet containing the cost data : Using the Drop Box link below, download the Excel spreadsheet containing the cost data for Arc Fabrication & Design, Inc. Note: the spreadsheet will open in

What amount does company a report as inventory : The estimated selling price of the inventory on 12/31 is $10 per item. What amount does Company A report as inventory on the published balance sheet at 12/31

Sketch the income-consumption curve for the values : Suppose a consumer's preferences are given by U(X,Y) = X*Y. Therefore the MUXYM = $60M = $100 = Y and MU = X. Suppose the price of good Y is $1 and the price of

Draw the market and label the initial price and quantity : 1) Shift the curve to show what will occur in the milk industry if technological progress makes it cheaper and easier to produce milk.

Dimensions on intimacy used in relationship : Explain how self-disclosure is used in relationship. Discuss the dimensions on intimacy used in your relationship. Apply love languages to your relationship

Compute the net present value for the project : The branch office is expected to generate additional before tax net income of $30,000 per year. Compute the net present value for the project

What amount of gain or loss be reported on income statement : Assume the equipment is sold after 3 full years of use, for proceeds of $20,000, what amount of gain or loss would be reported on the income statement

Explain alexander hamilton argue in the federalist : 1. Argue Anti-federalist writings of Brutus 1, 2, and 3, we can see that they were very concerned with the amount of power given to the National government.

User Account

All Pages

Draw the market and label the initial price and quantity

Reference no: EM133133135

Reference no: EM133133135

Questions Cloud

Reviews

Write a Review

Business Economics Questions & Answers

Economics assignment

Demand and supply curves

Long-run perfectly competitive equilibrium for the firm

Supply and demand diagrams

Case study: fisher-price toys

Draw the production possibility curve

Tax revenue

Maximize total welfare

Difference between the cv and the ev

Depict von neumann-morgenstern utility index u in a diagram

What is the market solution

Calculate gross national product and net national product

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT