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Explain why the quantity buyers would wish to buy would

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Question A. Suppose that governing authorities require that the price of food be zero. Assume that food is scarce. Explain why the quantity buyers would wish to buy would exceed the amount sellers would wish to sell under those circumstances. Use the definition of economics and managerial economics to answer this question. Also explain the graphic analysis to this answer.

Question B. You have to decide whether to buy stock in Ford Company or GM Company. The income elasticity for Ford is .1 and the income elasticity for GM is -.2. Most economists are predicting that consumer income will rise over the next few years. What company should you invest in and why?

Reference no: EM133598873

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