User Account

All Pages

Pricefeedernbsp quantity demandednbsp quantity supplied300

Assignment Help Macroeconomics
Reference no: EM13378618

Price/Feeder  Quantity Demanded  Quantity Supplied


$300               500                        1800

270                 600                        1700

240                 700                        1600

210                 800                        1500

180                1000                        1400

150                1100                        1300

120                1200                        1200

90                 1300                         1100

60                 1400                         1000

30                 1500                           900

10                 1600                           800

1. Construct a graph showing supply and demand in the electronic dog feeder market, using Microsoft Excel.

2. How are the laws of supply and demand illustrated in this graph? Explain your answers.

3. What is the equilibrium price and quantity in this market?

4. Assume that the government imposes a price floor of $180 in the feeder market. What would happen in this market?

5. Assume that the price floor is removed and a price ceiling is imposed at $90. What would happen in this market?

6. Now, assume that the price of feeders drops by 50%. How would this change impact the demand for feeders? Explain your answer and reconstruct the graph developed in question one to show this change.

7. Assume that incomes of the consumers in this market increases. What would happen in this market? Explain your answer and reconstruct the graph developed in question one to show this change.

8. Assume that the number of sellers decreases in this market. What would happen in this market? Explain your answer and reconstruct the graph developed in question one to show this change.

9. Explain the difference between a normal good and an inferior good. Would your answers to question 7 change depending on whether this good is a normal or inferior good? Why?

Reference no: EM13378618

Questions Cloud

Humes corporation makes a range of products the companys : humes corporation makes a range of products. the companys predetermined overhead rate is 16 per direct labor-hour which
Glunn company makes three products in a single facility : glunn company makes three products in a single facility. these products have the following unit product costsadditional
1suppose the equilibrium price in a competitive price taker : 1.suppose the equilibrium price in a competitive price taker market is 10 and a firm in the industry charges 9 which of
Brewer corp is considering dropping its talking dog product : brewer corp. is considering dropping its talking dog product line due to continuing losses. revenue and cost data for
Pricefeedernbsp quantity demandednbsp quantity supplied300 : pricefeedernbsp quantity demandednbsp quantity supplied300 nbsp nbsp nbsp nbsp nbsp nbsp nbsp 500 nbsp nbsp nbsp nbsp
Hirams lakeside is a popular restaurant located on lake : hirams lakeside is a popular restaurant located on lake washington in seattle. the owner of the restaurant has been
Melnick enterprises manufactures two products boat wax and : melnick enterprises manufactures two products boat wax and car wax in two departments the mixing department and the
1 which of the following is always truewhen marginal costs : 1. which of the following is always true?when marginal costs are less than average total costs average total costs will
Rum company has developed a new product that will be : rum company has developed a new product that will be marketed for the first time during the next fiscal year. although

Reviews

Write a Review

Macroeconomics Questions & Answers

  1 briefly define the following

1. briefly define the following termsa.nbspnbspnbspnbspnbspnbspnbspnbsp m1b.nbspnbspnbspnbspnbspnbspnbspnbsp

  Monopoly manufacture and monopoly retailer merge

Suppose a monopoly manufacturer sells directly to a monopoly retailer. What are the implications in regard to price, output, and profits as compared to the case where the monopoly manufacture and monopoly retailer merge? Explain why

  Think about a company that has been a state-owned

Think about a company that has been a state-owned, natural monopoly. If it is privatized, what kind of regulatory policies could the government follow, and what impact might they have on the firm.

  Determination of equilibrium price and quantity demanded

Suppose that Demand and Supply curves for coffee bean is given by-What value of t maximizes Government's tax revenue?

  Explain how define social diversity and business ethics

Explain how do you define social diversity and business ethics. How has a more diversified labor force affected the corporate structure and economy.

  What can you expect to happen to the price you pay for ram

You are the manager of a midsized company that assembles personal computers. You purchase most components-such as random access memory (RAM)-in a comptetitve market. Based on your marketing research, consumers earnings over $75,000 purchase 1.3 ti..

  Determine the market value of output

Assume, in a 2-sector model, that individuals earn the following payments from business sector: wages $520, interest $30 rent $ 10 and profits $80.

  Analyze the effect of balanced budget on budget

Using Keynesian model and Classical model, analyzed the effect of balanced budget (when the government increases the government expenditure and tax by the same amount not to affect the government deficit) on output (Y), interest rate (r) and price ..

  Refundable security deposit equal to one month rent

A landlord requires tenants to pay at the beginning of their lease an amount equal to 3 months of rent. He informs the tenants that this is for the first month's rent, the last month's rent, and a refundable security deposit equal to one month's rent..

  Explain if you were the production manager at bcag

Explain if you were the production manager at BCAG, how would you justify the long-term nature of the contact with Thyssen Inc..

  Methods of encouraging growth

Which of these methods of encouraging growth would you suggest for the typical company in Hong Kong and Singapore? Explain the rationale for your choice.

  How do interest rate changes affect the value of bank

What is the difference between book value accounting and market value accounting? How do interest rate changes affect the value of bank assets and liabilities under the two methods? What is marking to market?

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