User Account

All Pages

What would be the impact on elasticity of supply

Assignment Help Microeconomics
Reference no: EM131533005

Assignment

1. Watch the following video clip (BTN takes a look at the factors behind the rise in price of bananas) and answer the following questions.
Behind the News.

1. Using supply and demand curves explain how the cyclone would affect the price and quantity of bananas. Make sure you explain in your answer why prices have gone up by such a large amount.

2. The bananas were called luxuries in the video. Do you think that this is strictly true? If bananas were luxuries what would this mean for the supply and demand curves? In turn what would this mean for the price and quantity of bananas following the cyclone compared to the case in 6a?

3. What would be the impact on elasticity of supply if it were possibly to increase the imports of bananas?

Reference no: EM131533005

Questions Cloud

Develop a closure checklist that the project team will use : Closure checklist and project evaluation. Develop a closure checklist that the project team will use to ensure that the project has been closed properly.
Desreumaux service corporation : The following relationships for inventory costs have been established for the Desreumaux Service Corporation:
Identify any negative amount by putting it in parentheses : Using your accounting knowledge, fill in the blanks in the following separate income statements a through e. Identify any negative amount by putting.
Challenged by other people in your major : challenged or has already been challenged by other people in your major or field of study.
What would be the impact on elasticity of supply : What would be the impact on elasticity of supply if it were possibly to increase the imports of bananas?
Explain why is it important to consider uncertainty : Why is it important to consider uncertainty when evaluating supply chain design decisions? Explain economic costs of deciding to move production overseas.
Compute account balances : The following supplementary records summarize Titus Company's merchandising activities for year 2011. Set up T-accounts for Merchandise Inventory and Cost.
Balanced psychology and a full life : A Critique of "A Balanced Psychology and a Full Life" by Seligman et.al - the paper should be about 1000 words
A form of altering our thoughts and memories : I'm wondering if you have any thoughts about hypnosis as a form of altering our thoughts and memories?

Reviews

Write a Review

Microeconomics Questions & Answers

  The free rider problem

Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.

  Failure of the super committee is good thing for economy

Some commentators have argued that the failure of the “Super committee” is good thing for the economy?  Do you agree?

  Case study analysis about optimum resource allocation

Case study analysis about optimum resource allocation: -  Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..

  Fixed cost and vairiable cost

Questions:  :   Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month?  Explain your choice.

  Problem - total cost, average cost, marginal cost

Problem - Total Cost, Average Cost, Marginal Cost: -  Complete the following table of costs for a firm.  (Note: enter the figures in the  MC   column  between  outputs of  0 and 1, 1 and 2, 2 and 3, etc.)

  Oligopoly and demand curve problem

Problem based on Oligopoly and demand curve,  Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?

  Impact of external costs on resource allocation

Explain the impact of external costs and external benefits on resource allocation;  Why are public goods not produced in sufficient quantities by private markets?  Which of the following are examples of public goods (or services)? Delete the incorrec..

  Shifts in demand and movements along the demand curve

Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..

  Article review question

Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:

  Long-term growth, international trade & globalization

Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..

  European monetary union (emu) in crisis

"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"

  Development game “settlers of catan”

Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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