What is the equation for the new supply curve

Assignment Help Business Management
Reference no: EM132653823

Suppose that a supply function is described as follows. When the price is 1300 (mea- sured in dollars), the quantity supplied is 20. In addition, when the price is 2500, the quantity supplied is 50.

(a) Write out the supply function in P= f (Q) form.

(b) Plot this supply function. Label the axes, the curve, and two points on the curve.

(c) Now assume that this represents the supply of corn, in bushels. At a quantity of 40 are the firms willing to accept a price of 2000? Explain

(d) Assume that consumers want to pay 2000 for 40 bushels of corn. The government wants to make this happen by either taxing the farmers, or giving them a subsidy. (The tax or subsidy will apply to every quantity for the corn farmers.) Which will it be, and what will be its value? Illustrate on your graph.

(e) What is the equation for the new supply curve you illustrated on the graph?

Reference no: EM132653823

Questions Cloud

Find equation for the new supply curve : Suppose that a supply function is described as follows. When the price is 1300 (mea- sured in dollars), the quantity supplied is 20. In addition, when the price
Analyse and record the transactions according to the format : Analyse and record the transactions according to the format in the answer book provided. M Juma withdrew R50 000 from the business's current bank account
Solve the complex equation : Solve the complex equation (x-j2y)+(y-j3x)=2+j3
How does understanding cost behavior : How does understanding cost behavior and using cost-volume-profit enable organizations to make better decisions? Explain in detail.
What is the equation for the new supply curve : Suppose that a supply function is described as follows. When the price is 1300 (mea- sured in dollars), the quantity supplied is 20. In addition, when the price
How to compute the per-unit factory overhead allocated : How to Compute the per-unit factory overhead allocated to the gasoline and diesel engines under the single plantwide factory overhead rate method
Contrast the theories of structural-functionalism : Compare and contrast the theories of structural-functionalism and conflict theory about inequality in the context of Canadian society.
What happens in the human body when intake of fat is less : What happens in the human body when the intake of fat is less than your required intake (at least two sentences)? What happens in the body when intake of fat.
How the global covid-19 pandemic can impact australia : Discuss how the global COVID-19 pandemic can impact Australia's exports in general. Also discuss the impact of the pandemic on domestic demand for Australian re

Reviews

Write a Review

Business Management Questions & Answers

  Caselet on michael porter’s value chain management

The assignment in management is a two part assignment dealing 1.Theory of function of management. 2. Operations and Controlling.

  Mountain man brewing company

Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. Due to increase in the preference for light beer drinkers, Chris Prangel wants to introduce light beer version in Mountain Man. An analysis into the la..

  Mountain man brewing company

Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. An analysis into the launch of Mountain Man Light over the present Mountain Man Lager.

  Analysis of the case using the doing ethics technique

Analysis of the case using the Doing Ethics Technique (DET). Analysis of the ethical issue(s) from the perspective of an ICT professional, using the ACS Code of  Conduct and properly relating clauses from the ACS Code of Conduct to the ethical issue.

  Affiliations and partnerships

Affiliations and partnerships are frequently used to reach a larger local audience? Which options stand to avail for the Hotel manager and what problems do these pose.

  Innovation-friendly regulations

What influence (if any) can organizations exercise to encourage ‘innovation-friendly' regulations?

  Effect of regional and corporate cultural issues

Present your findings as a group powerpoint with an audio file. In addition individually write up your own conclusions as to the effects of regional cultural issues on the corporate organisational culture of this multinational company as it conducts ..

  Structure of business plan

This assignment shows a structure of business plan. The task is to write a business plane about a Diet Shop.

  Identify the purposes of different types of organisations

Identify the purposes of different types of organisations.

  Entrepreneur case study for analysis

Entrepreneur Case Study for Analysis. Analyze Robin Wolaner's suitability to be an entrepreneur

  Forecasting and business analysis

This problem requires you to apply your cross-sectional analysis skills to a real cross-sectional data set with the goal of answering a specific research question.

  Educational instructional leadership

Prepare a major handout on the key principles of instructional leadership

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd