Microeconomics, Other Subject

Assignment Help:
There are 2 brands of cell phones that are almost identical except for some minor features: the A-Phone and the Pomegranate.

Part I

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.
•There is an overall increase in income and people believe that the Pomegranate is now better than the A-Phone.
•The price of the A-Phone goes up when a flaw is found in the Pomegranate.
•A new type of walkie-talkie has an unlimited range and is basically free.
•It is discovered that there are health concerns when using cell phones.
•There is a baby boom.
•The price of the A-Phone and the Pomegranate both go up.
What happens to the supply of cell phones if the market price goes up?

Part II

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.
•More cell phones are being produced with the same amount of inputs.
•Walkie talkies are popular because of the new technological change mentioned above.
•Another company starts producing cell phones, and now there are 3 producers in the market.
•People think the price of cell phones will go up in the future.
Part III

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 effect 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?

Related Discussions:- Microeconomics

Overtaking rules - traffic congestion, Overtaking Rules - Traffic Congestio...

Overtaking Rules - Traffic Congestion Overtaking needs an appropriate consideration and efficiency because the driver will use the other lane and increase the speed. The negli

Explain what is media imperialism, Question 1: A "Development Organizat...

Question 1: A "Development Organization" invites you to be its development communication consultant to promote the diffusion of a new idea into your community. Discuss the ste

Why counsellors should be culturally competent, In counselling, there are...

In counselling, there are several counselling therapies that will be used. One of them is the Person-Centered therapy developed by Carl Rogers. Critically show three key qual

How to confirm, Trying to confirm my paper for tomorrow delivery.

Trying to confirm my paper for tomorrow delivery.

History of documentaries, History of Documentaries: The earliest documenta...

History of Documentaries: The earliest documentaries in the US and France were either short newsreels, instructional pictures, records of current events, or travelogues (termed ac

Roles and functions of school counsellors, Problem 1 (a) Explain the ro...

Problem 1 (a) Explain the roles and functions of school counsellors. (b) What are the characteristics of a good School Counsellor? (c) Describe multicultural counselling

Essays, Trying to get a quote on two assignments

Trying to get a quote on two assignments

Overtaking - maneuvers on highways, Overtaking - Maneuvers on Highways ...

Overtaking - Maneuvers on Highways Overtaking is one of the most risky Maneuvers on Highways. The practice of overtaking maneuvers is to visualize in advance every detail of w

State of the union code, 1)  The average number of sentences per word over ...

1)  The average number of sentences per word over time Do this two ways: First, using a simple regex that splits on puntuation. Second, using the natural language toolkit's se

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