Estimating supply and demand curve

Assignment Help Microeconomics

Reference no: EM1366913

1. Find a product (possibly a commodity) traded in the global market and examine how the price of the product has changed over the past 10 years. How have these price changes reflected the law of supply and demand? Be sure to discuss both movement along the supply/demand curve as well as shifts in the curves. (A graph in excel, as an attachment, would show understanding).

2. Assume there are two services offered in economy: dance clubs and college education. Both require the use of limited resources, but not all of the resources used in each one can be readily transferred to the other. What is the effect on the economy production possibility curve (reflecting these two services) in both the short and long run if it shifts resources from dance clubs to education?

Reference no: EM1366913

Questions Cloud

Computing minimum value of avc : Consider the price-taking firm in competitive industry for raw chocolate. The market demand and supply functions for raw chocolate are estimated to be

Explanation of core values and core values in action : Explain why might an organization really need core values? How might you really see core values "in action?

Algorithm-find schedule to obtain maximum amount of profit : Give an algorithm to find schedule which obtains maximum amount of profit, assuming that all processing times are integers between 1 and n.

Show the basic estimating problem : Your manager asks for the project costs by cost category as well as the total amount

Estimating supply and demand curve : Assume there are two services offered in economy: dance clubs and college education. Both require the use of limited resources, but not all of the resources used in each one can be readily transferred to the other.

Using a financial calculator for mortgage loans : Lucy wishes to buy a house and has approached a bank and been informed that a thirty year mortgage loan with monthly payments and compounding would have an APR of 5.4 percent.

Trade-offs academic medical center : Stanford Medical Center is a well-known and well-respected academic medical center. It has been approached by the government of Vietnam to develop an affiliation with its main national hospital in Saigon.

Show the conflict in the workplace : If managers/leaders intervene every time there is a perceived problem and we address the situation, how will staff learn to deal with conflict in the workplace?

Computing increase in sales volume-price elasticty : Angelica pickles manager a Quick copy franchise White Plains, New York. Pickles projects reducing copy 5¢ to 4¢ each, Quick Copy's $600-per-week profit contribution will increase by one-third.

User Account

All Pages