demand function for product, Economics, Microeconomics

Assignment Help:

2. You are examining the effects of a specific tax of 10 cents imposed on the sales of a product that we shall call XYZ. To carry out your analysis, assume that the market is a perfectly competitive one. You are provided with the following data:

(1) Economists have estimated the demand function for product XYZ to be:

QD = 20 – 0.50 P

Where P is the price of the product (in cents) and QD is the quantity demanded (in thousands).

Related Discussions:- demand function for product, Economics

Microeconomics, I need help on MCQs on international trade and imperfect co...

I need help on MCQs on international trade and imperfect competetion

Cobweb model, COBWEB MODEL: Concept of dynamic stability: A market e...

COBWEB MODEL: Concept of dynamic stability: A market equilibrium is said to dynamically stable only when disequilibrium price and quantity move and over time reach to any eq

Outputgap, what is outputgap?

what is outputgap?

Data manipulation, Data were taken with a Data Acquisition System (DAQ) and...

Data were taken with a Data Acquisition System (DAQ) and stored in the data file 'data.txt'. 'data.txt' is a text file with 3 columns containing the following data: Column 1: Ti

Agriculture, project on visit to village for agriculturebased project

project on visit to village for agriculturebased project

Supply analysis, what is the explanation about supply analysis?How to under...

what is the explanation about supply analysis?How to understand?

Mundell-Fleming Models, Assignment Help

Assignment Help

Define the concepts price elasticity of demand, Question 1: Define the ...

Question 1: Define the concepts price elasticity of demand, income elasticity of demand and cross elasticity of demand and explain how these concepts can be useful to the man

Oligopoly, Oligopoly and its properties

Oligopoly and its properties

Molecular orbital theory, Discuss MO theory in detail?

Discuss MO theory in detail?

Write Your Message!

Name

Email id

Message

Verfication Code

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

User Account

All Pages