Is demand for the product elastic or inelastic in short run

Assignment Help Macroeconomics
Reference no: EM13244093

Select two companieswhose product(s) you use in your daily life. You may choose anyfirms you wish, as long as their information is publicly available(as to their products and financial information) and they are knownto the average person.

Describe, in detail,each company's product line in terms of:
Product description andusage
Factors that determinethe demand for the products
Factors that determinethe supply of the products
Available substitutesfor the product
Available complementsfor the product

Is demand for theproduct elastic or inelastic in the short run? In the longrun?

Is the firm's productioncapital-intensive or labor-intensive? How important is technologyin the producing the product? Why?

In which of the fourmarket structures does each firm operate? Describe the attributesof the firm's market that show why that is the relevant marketstructure.

What do you think arethe long term prospects for the product? Why?

Reference no: EM13244093

Questions Cloud

Simply state the short run shut down rule as stated in the : Simply state the short run shut down rule as stated in the book and apply it using the numbers given.  Be sure to show your work to support the decision you outline in your report. uses 50,000 workers to produce 200,000 units of output per day. The d..
Find the vertical component of the ball''s velocity : A ball is thrown at an angle of 30.9 degrees above the horizontal at a speed pf 8.77 m/s. What is the vertical component of the ball's velocity
How much energy is lost : A 0.12kg rubber ball is dropped from a height of 1.0m above the floor and it bounces back to a height of 0.80m, How much energy is lost
What is approximate period of oscillation of typical atom : Atoms in a solid are in continuous vibrational motion due to thermal energy, What is the approximate period of oscillation of a typical atom
Is demand for the product elastic or inelastic in short run : Select two companies whose product(s) you use in your daily life. You may choose anyfirms you wish, as long as their information is publicly available(as to their products and financial information) and they are knownto the average person.
Find e-y-barand findvar-y-bar : Suppose thatY1,Y2,Y3 is a sample of observations fromN(μ, s2) population but that Y1, Y2& Y3are not independent. In factsuppose: Cov(Y1Y2)=cov(Y2Y3)= cov(Y1Y3)=0.5s2 Let Y(y-bar)= (Y1+Y2+ Y3)/3
What is the intensity of the signal : A loudspeaker on a homecoming float - mounted on a pole -- is stuck playing at an annoying 210 Hz tone, What is the intensity of the signal at this point, What is the power of the speaker
Define most preferred to least preferred type of shock : Suppose that the economy is currently at potential output.Also suppose that you are an economic policy maker and that acollege economics student asks you to rank, if possible, your most preferred to least preferred type of shock:
What would be the effect of a 500 increase in taxes once : Suppose that the economy starts at equilibrium and the mpc = 0.8. What would be the effect of a 500 increase intaxes once all the rounds of the multiplier process are complete

Reviews

Write a Review

Macroeconomics Questions & Answers

  Effect on chinese imports and exports

China pegs the yuan to the United States dollar at 8.3 yuan each dollar. Assume that this is above the equilibrium level of dollar in foreign exchange market.

  What would cause the entire curve to move upward

You manage Gofer Delivery Services. You rent a truck for $50 a day and each delivery takes an hour of labor time. The hourly wage is $8. Draw a curve showing the relationship between the number of deliveries on the horizontal axis.

  What was the ror on this investment

At the end of 1987, you bought a piece of land for $35,000. In addition to the $35,000, you paid $1,700 in closing costs (costs associated with the purchase and title registration). For the years 1988 through 2002, you paid, on average, $950 in pr..

  Elucidate whether you would draw an aggregate demand

Elucidate whether you would draw an aggregate demand or aggregate supply diagram and predict what shift each situation would cause.

  What price should jim set

The Burrito Barn is considering a price reduction on the Firegut Burrito, which currently sells for $5.00. Jim, the owner of Burrito Barn, knows that the price elasticity of the Firegut is roughly equal to -2.3 over the range of prices being consi..

  Calculate rate of growth of per capita real gdp

The annual rate of growth of real GDP in a developing nation is 0.3%. Initially, the countries' population was stable from year-year. Recently, however, a significant increase in the nation's birth rate has raised the annual rate of population growth..

  Fears of a recession expected to decrease consumers incomes

Elucidate how will looming fears of a recession expected to decrease consumers incomes by 4 percent over the next year impact the quantity of coffee Starbucks expects to sell.

  Optimal quantity and total utility at equilibrium

Given the table of marginal utilities for CD's and century books, calculate the optimal quantity and total utility at equilibrium. Draw Sarah's budget line for part a and her budget line for part b on the same graph.

  What rate of return per semiannual period did make

A collateral bond with a face value of $5,000 was purchased by an investor for $4,100. The bond was due in 11 years, and it had a bond interest rate of 4% per year, payable semi-annually. If the investor kept the bond to maturity, what rate of ret..

  How much will your firm''s total revenues

the manager of a firm that receives revenues of $40,000 per year from product X and $90,000 per year from product Y. The own price elasticity of demand for product X is -1.5, and the cross-price elasticity of demand between product Y and X is -1.8..

  Explain how much control might an organization have

Explain how much control might an organization have over pricing based on a product's elasticity

  Behavior of firms in oligopoly

Suppose that the software market currently has one firm operating -Microhard. What contract should be writen between the bank and Newvel?

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!

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