Reference no: EM13243380
There are 2 brands of cell phones that are almost identical except for some minor features: the A-Phone and the Pomegranate.
Part I
For this part of the assignment, we will focus on the demand curve. Draw the demand curve for the A-Phone. Explain how the graph, price, and quantity demanded will change if the following occurs:
- There is an overall increase in income.
- It is discovered that there are health concerns when using cell phones.
What happens to the supply of cell phones if the market price goes up?
Part II
For this part of the assignment, we will focus on the supply curve. Explain what happens to the price and quantity supplied and how it reflects on a graph if the following occurs:
- It becomes more expensive to produce cell phones.
- Another company starts producing cell phones, and now there are 3 producers in the market.
Part III
For this part of the assignment, we are going to focus on demand and supply on the same graph. Draw a graph which shows the equilibrium price of cell phones. Explain what the graph is showing.
When the new manufacturer introduces the Robo cell phone to the market, how does that affect the equilibrium price if the Robo is basically the same as the other cell phones?
Part IV
As the public's dependence on cell phones continues to grow, the cost of the phones may be decreasing, but the stronghold that telecommunication companies have on the public in regards to contracts and climbing fees is alarming.
Additionally, all cell phone companies charge about the same prices, and the consumers do not have much choice in substituting providers. Consumers appear to need some controls in this regard, and the government decides to step in.
- What is the effect of government intervention in the cell phone market? Make sure that you use graphs to illustrate your point.
- Is this a good thing for consumers?
On the other hand, the government sees the increase in cell phone use as an opportunity to make some additional revenue, and it decides to tax service providers.
- Who is really paying the tax?
- Illustrate your conclusion on a graph.
- Do you think that there is a free market for cell phone users? Why or why not?
Explain what effect will have on the aggregate supply
: Suppose the government mandates that all companies over 50 employees must provide an increased level of health care benefits. explain what effect this will have on the aggregate supply curve.
|
Identify the type of observational study
: Identify the type of observational study (cross-sectional, retrospective, or prospective) described
|
What people do when they arent sure if store will have goods
: Think of some other real-world examples where the competitive hypothesis is violated. What would need to be added to the basic supply and demand model to accurately predict what people do when they aren't sure
|
What is the maximum oscillation amplitude
: An ultrasonic transducer, of the type used in medical ultrasound imaging, is a very thin disk (m=0.10g ) driven back and forth in SHM at 1.0 MHz by an electromagnetic coil, What is the maximum oscillation amplitude that won't rupture the disk
|
There is an overall increase in income
: For this part of the assignment, we will focus on the demand curve. Draw the demand curve for the A-Phone. Explain how the graph, price, and quantity demanded will change if the following occurs.
|
Why inflationary andrecessionary gaps are self-correcting
: In the long run, inflationary andrecessionary gaps are self-correcting because, eventually. nominalwages rise and fall in order to close an inflationary or arecessionary gap thegovernment applies the right combination of fiscal and monetarypolicies t..
|
Determine the torque on the coil
: A circular coil 17.0cm in diameter and containing nine loops lies flat on the ground. The Earth's magnetic field at this location has magnitude 5.50×10?5T, Determine the torque on the coil
|
An illustration of the production possibilities model
: An illustration of the Production Possibilities model, including a summary of what the model is illustrating and the economic implications for the economy.
|
What is the density
: You need to determine the density of a ceramic statue. If you suspend it from a spring scale, the scale reads 28.4N. What is the density
|