Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Reading your discussion response was very interesting. In the beginning, you touched on the shift in demand for services to become more convenient. You mentioned the example of grocery delivery, and there are so many more now. I have seen grocery delivery, prepared food delivery, mobile car wash, mobile auto mechanics, and many more. In some cases, there is a difference in price or a delivery fee, but that must all play into the opportunity cost for the customer. Is it worth the extra cost to avoid making the trip to the grocery store and spending the time, energy, and fuel? In some cases, like when I got the brakes on my car replaced from my driveway, I did not pay any more than I would have if I were to drive to the shop. In this case, I saved a lot of time and money by avoiding the drive and staying home, and relaxing while my brakes were being worked on. For brick-and-mortar brake shops to complete with that service, they would need to lower their prices.
With more and more services being available with greater convenience to the customer, how do you think that should affect their competitor's prices and the equilibrium price as a whole? Would you go out of your way and forgo the convenience for a lower price point, and how much lower would it need to be?
This document contains various important questions and their appropriate answers in the subject field of Economics.
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.
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..
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.
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 and a. Define consumer surplus and producer surplus.
The Australian government administers two programs that affect the market for cigarettes
How many tickets to sell to maximize total welfare.
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 the von Neumann-Morgenstern utility index u in a diagram
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
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd