Home work help, Microeconomics

Assignment Help:
Exercise on Demand, supply and market equilibrium

Given the following determinants of demand and supply, briefly explain, using appropriate diagram, the nature of relationships between changes in individual determinants and corresponding changes in demand or supply of a particular product.


Determinants of demand:

D = F ( Po| Y, Pr,T, E,Nb)

Where,

D = Demand for a particular product
Po = Price of the respective product ( own price)
Y = income earned by a consumer
Pr = price of related goods substitute or compliment
T = tastes and preferences of consumers
E = expectation about future changes in price, income or wealth, etc
Nb = number of buyers

Determinants of supply:

S= F( Po| Pi, Pr,T,E,Ns)

Where,
S = supply of a particular product
Po = price of the respective product (own price)
Pi = price of inputs required to make production
P r= price of related good substitute or complement
T = technology used in production
E = Expectations about future changes in the price of the product
Ns = number of sellers in the market

Related Discussions:- Home work help

Law of cardinal utility approach, ??????? ??? ???? ??? # 100 ?????? #Minimu...

??????? ??? ???? ??? # 100 ?????? #Minimum ?????? ?????

Help, I have some Microeconomics problem need to be solve, three Long quest...

I have some Microeconomics problem need to be solve, three Long question and 10 multiple-choice. If I give you four hours can you finish.

Direct utility, what is direct utility in micro economics?

what is direct utility in micro economics?

Nash equilibrium strategy, suppose your opponent is not playing her nash eq...

suppose your opponent is not playing her nash equilibrium strategy. Should you play nash equilibrium strategy?k question #Minimum 100 words accepted#

Demand, elasticity of demand

elasticity of demand

Value chain, V alue Chain It is the collection of activities within...

V alue Chain It is the collection of activities within an organization that allows it to compete within an organization. The activities in a value chain can be grouped into

Determine household production from the national accounts, What have been s...

What have been some justifications given for the historical exclusion of household production from the national accounts? Some reasons have included: a. households are not p

Help PLease, In an essay of at least four well-developed paragraphs, discus...

In an essay of at least four well-developed paragraphs, discuss U.S. economic policy. Be sure to include the following information in your essay: Compare and contrast the economi

Pareto efficiency, #question.explain three neccessary condition to achieve ...

#question.explain three neccessary condition to achieve pareto efficiency.

Write Your Message!

Captcha
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