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Explain the moving equilibrium

Assignment Help Business Economics
Reference no: EM133083033

Problem:

quantity/dinners

Price

Total revenue

Marginal revenue

1

35

35

35

2

33.25

66.5

31.5

3

31.59

94.77

28.27

4

30.01

120.04

25.27

5

28.51

142.55

22.51

6

27.08

162.58

20.03

7

25.73

180.11

17.53

8

24.44

195.52

15.41

9

23.22

208.98

13.46

10

22.06

220.06

11.08

11

20.96

230.56

10.5

12

19.91

238.92

8.36

13

18.91

245.83

6.91

14

17.97

251.58

5.75
  1. Moving Equilibrium.  Show the effect of each on the monopoly market equilibrium; you don't need to have exact answers but explain the direction of change in the demand and/or marginal cost curves.
    1. Everyone loses their job because of Covid.  
    2. The Trump Supreme Court majority strikes down minimum wage laws as infringements on the "right to contract" and wages fall in Amherst.
    3. Shortage of beef because of climate change and wildfires raises the cost of ingredients to make boeuf 
    4. Poorly designed economic development policies lowers rents in Amherst.

Reference no: EM133083033

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