User Account

All Pages

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

Social Studies, I need help with a paper about North America

I need help with a paper about North America

Bogus clients, Question: a) Explain the 10 warning signs which woul...

Question: a) Explain the 10 warning signs which would indicate that attraction feelings towards clients may be putting you or your services at risk. b) What precautions

Short-term credit decision, In no more than one typed page, provide a state...

In no more than one typed page, provide a statement of your decision to lend or not lend to this company based on your interpretation of the company's short-term prospects (i.e., l

Self-interest in morality, How would two contrasting thinkers respond to qu...

How would two contrasting thinkers respond to question of the role of self-interest in morality? (Hint: Kant and anyone?) When it comes to the issue of right and wrong; individu

Linear algebra assignment, I have a linear algebra assignment/coursework (i...

I have a linear algebra assignment/coursework (it''s about affine sets and mappings), but I don''t have the time to do the rest of it (I have done only one question and one part of

Business resources, Describe the full range of recruitment documents that a...

Describe the full range of recruitment documents that are used by BSiX in the recruitment and selection of a Learning Centre (Library) Administrator. What documents do you need

Music 101, Ask que Question 1 An important event during the Renaissanc...

Ask que Question 1 An important event during the Renaissance was the development of printing from movable type. True False stion #Minimum 100 words accepted#

Research on the dangers of virtual reality games software, formations and s...

formations and social relationships. Immoral acts can easily be performed in Virtual Reality (for example, video games that incorporate gender bias, domestic violence and sexual ac

Describe the final phase of the therapeutic process, Question 1: Illust...

Question 1: Illustrate the crucial aspects that you need to attend to during an initial interview with a prospective client? Question 2: Describe and clarify the emotio

Examine legal entitlements to confidentiality, Problem: Counsellors in ...

Problem: Counsellors in all setting cannot afford to be legally ignorant. They must understand the law and its implications in the arena of counselling. a) Critically discu

Write Your Message!

Captcha
Order Assignment

Featured Services

Order Now

Popular Subjects

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: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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