Sketch the supply and demand diagram for this market

Assignment Help Microeconomics

Reference no: EM131190622

Question 1 - Assume an economy can produce 10 000 cars but no food. On the other hand if all the factors of production are used, the economy can produce 12 000 kg of food but no cars. Draw a production possibility frontier diagram and determine and depict three (3) points showing the feasible and non-feasible alternatives, including an efficient outcome.

Question 2 - The market for a new refrigerator is in equilibrium with an equilibrium price of $1,250 and an equilibrium quantity sold of 20,000. There has been a consumer incomes rise and the equilibrium price increased to $1,425 and the equilibrium quantity sold increased to 22,000.

Sketch the supply and demand diagram for this market before and after income rise. Mark all curves and axes and showing any shifts or movements along the curves. Analyse and explain your diagram.

Reference no: EM131190622

Questions Cloud

Create script that copy the content from crash dumb folder : Need a script that copy the content from crash dumb folder and to store somewhere else

What is finance report : 1. What is finance report? 2. Explain how finacial statements can be used in predicting the position of an organization as well as in making decisions by management.

What is the price of hit em stock : What is the price of Hit'Em's stock if dividends are expected to grow at 20% for each of the next 2 years and there after settle into a long term growth rate of 2%?

Describe how a bill becomes a law at the national level : Describe how a bill becomes a law at the national level, in a fully developed essay of at least 500 words. Support your work with cited sources, references to Lecture Notes, or URLs where you obtained your information.

Sketch the supply and demand diagram for this market : Sketch the supply and demand diagram for this market before and after income rise. Mark all curves and axes and showing any shifts or movements along the curves. Analyse and explain your diagram

Draw three different indifference curves : Draw three different indifference curves corresponding to the following three situations:- a free public education would increase the amount of money that is spent on the child's education;

Describe a company that you believe represents the 4cs well : Describe a company that you believe does not do well putting the 4Cs into practice, and provide two (2) examples of why you believe they struggle at it.

Find the new market value of a company : Silterra Company is proposing a right offering.There are 100,000 outstanding shares at $30 each.The company is seeking an additional funds of $400,000 and the subscription price is set at $20 per share.

Find the conditions under which the power efficiency : Find the conditions under which the power efficiency η (defined as the ratio of the power consumed by the bulb and the power provided by the source) is maximum.

User Account

All Pages