Q1 what are the four major types of markets in

Reference no: EM13375229

Q1. What are the four major types of markets in microeconomic analysis? What are the key characteristics that distinguish these markets?

Q2. The downturn in economic activity or recession in 2007 and 2008 forced many firms to develop new competitive strategies to survive. Find examples of these strategies in various business publications.

Q3. Suppose the demand and supply curves for a product are given by

QD=500-2P & QS=-100+3P

a. Graph the supply and demand curves.

b. Find the equilibrium price and quantity.

c. If the current price of the product is $100, what is the quantity supplied and the quantity demanded? How would you describe this situation, and what would you expect to happen in this market?

d. If the current price of the product is $150, what is the quantity supplied and the quantity demanded? How would you expect to happen in this market?

e. Suppose that demand changes to QD=600-2P. Find the new equilibrium price and quantity, and show this on your graph.

Q4. The following discussion is drawn from :Chicken Producers in Price Pinch," Wall Street Journal, May 21, 2008.

It has been a tough year in the poultry business, with supply outpacing demand and feed-grain prices rising substantially. But producers are hoping all that changes when the summer cook-out season starts.

The seasonal upswing in chicken consumption, along with the anticipated jump in spot-market poultry prices, could bring some reliefs to producers whose profit margins have been slashed by surging corn and soybean-meal costs.

Rising feed-grain prices, accelerated by the diversion of corn to make ethanol, have pushed up the cost of producing a live chicken by as much as 65% over the past two years.

Three factors make analysts more optimistic: Companies are cutting production, weekly egg-set numbers are declining (egg sets are fertile eggs placed in incubators), and prices are responding positively to the decreasing supply.

The production slowdown is a response to the surge in feed-grain prices last fall.

Profit margins at producers will not improve unless spot-market prices for chicken move up fast enough to cover costs paid for corn and soybean meal to feed chicken flocks.

Reference no: EM13375229

Questions Cloud

Written assignment 4nbsp kyle has survived his recent : written assignment 4nbsp kyle has survived his recent financial crisis is enjoying an upturn in business and has sorted

Suppose c5008y i70 g200 tr100 t02a calculate the multiplier : suppose c500.8y i70 g200 tr100 t0.2.a calculate the multiplier and the level of equilibrium incomeb calculating the

Questions1 given a supply curve for ultrasound clinics : questions1. given a supply curve for ultrasound clinics predict how the supply curve will shift i.e. increase or

Question1 a model of the determinants of health combines : question1. a model of the determinants of health combines three economic variables and two economic

Q1 what are the four major types of markets in : q1. what are the four major types of markets in microeconomic analysis?nbsp what are the key characteristics that

Janice applied for a job at king industriesnbsp she found : janice applied for a job at king industries.nbsp she found out from her friend that she was turned down for a job which

1 why does inflation make nominal gdp a poor measure of the : 1. why does inflation make nominal gdp a poor measure of the increase in total production?2. which component of gdp

Question 1everclean services provides daily cleaning : question 1.everclean services provides daily cleaning maintenance of toilets in food courts in singapore. dozens of

These 3 questions are about the claimsarguments from : these 3 questions are about the claimsarguments from ecuador against chevron1. president correas influence in the

User Account

All Pages