User Account

All Pages

Find the market demand curve for pears

Assignment Help Business Economics
Reference no: EM132136970

Manny, Moe and Jack have the following demand curves for pears:

QManny = 100 - 2P = 70 - 2P + 10 Ppear + .25 YManny where P Pear = 2 and YManny = 40.

QMoe = 300 - 4P = 80 - 4P + 35 Ppear + .75 YMoe where P Pear = 2 and YMoe = 200.

QJack = 210 - 5P = 60 - 5P + 15 Ppear + .5 YJack where P Pear = 2 and YJack = 240 .

a. Find the market demand curve for pears if these three guys are the only individuals in the market.

b. Suppose we wish to create perfectly equalitarian society where each guy has an income of 160. Let's tax Jack 80 dollars and Moe 40 dollars. Then let's use those tax revenues to raise Manny's income by 120 dollars. What happens to market demand?

Reference no: EM132136970

Questions Cloud

Prepare a flowchart of the front-stage : Choose a real-life service organisation that you are familiar with. Prepare a flowchart of the back-stage as well as front-stage operations of this business
Steady-state values of the? capital-labor ratio : Use the following table to find the? steady-state values of the? capital-labor ratio and output if the? per-worker production function is yt = 2kt0.3.
What is the percent of lumber : What is the percent of clear lumber from each of the three suppliers? What is the percent of lumber from each of the three supplier
What are the main things to remember about elasticity : What are the main things to remember about elasticity, supply and demand, tax incidence, government controls on the market, and economic theories?
Find the market demand curve for pears : a. Find the market demand curve for pears if these three guys are the only individuals in the market.
What is the firm supply curve : What is the firm's supply curve? What is market supply? What is equilibrium price? Equilibrium quantity? How much will each firm produce?
Design of secure enterprise wireless network : MN603 Wireless Networks and Security Assignment - Design and implementation of secure enterprise wireless network, Melbourne Institute of Technology Australia
If all countries eliminated all barriers to immigration : If all countries eliminated all barriers to immigration, would global economic growth increase? Why or why not?
What would be your recommendation : What price should he charge per ticket? (Note: Use the arc elasticity formula.) Is this a good strategy? What would be your recommendation?

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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