1 analyze what would happen to equilibrium price and, Ask an Expert

Economics

1. Analyze what would happen to equilibrium price and quantity in the market for Pepsi if the following occurred (be sure to indicate WHY it happens as well):

a. The price of Coke decreases.

b. Average household income falls from $50,000 to $43,000

c. There are improvements in soft-drink bottling technology.

d. The price of sugar increases and the Pepsi launches an extremely successful advertising campaign.

2.
a. Analyze the following demand and supply equations. What is market equilibrium price? What is market equilibrium quantity?

Demand: Qd = 100 - 4P
Supply: Qs = 10 + 6P

b. Assume the government places a price ceiling at $7 in the market. What is quantity demanded? What is quantity supplied? Is there a shortage or a surplus?

3. Using the diagram below, answer the following questions:

539_Analyze the demand and supply equations.png

a. How much is the per-unit tax on cigarettes?

b. What price do consumers pay after the tax?

c. How much tax revenue is collected?

d. What is the amount of deadweight loss?

View complete question

Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91263950
Price:- $40

Guranteed 36 Hours Delivery, In Price:- $40

Have any Question?Write your Review or question?

Related Questions in Microeconomics

Question - polyas four-step problem-solving process is a

Question - Polya's four-step problem-solving process is a general and systematic process for solving problems. Use this process to solve an application problem. Describe each step of the problem-solving process for the p ...

Question special interests do not oppose regulations in all

Question: Special interests do not oppose regulations in all cases. The Marketplace Fairness Act of 2013 would require online merchants to collect sales taxes from their customers in other states. Why might a large onlin ...

Question give an orginal concise but thorough answer to the

Question: Give an orginal concise but thorough answer to the following questions. a. Define social responsibility. How does this view of the role of business differ from your previous perceptions? How is it consistent wi ...

Question consider two goods widgets and gzots which can be

Question: Consider two goods, widgets and gzots, which can be taxed to generate government revenue. The demand elasticity of widgets is 0.5 and of gzots is 1.2. For each good the supply elasticity is infinite (horizontal ...

Question 1 200 wordsafarmer fitzgerald was heard saying my

Question 1 (200 words) (a) Farmer Fitzgerald was heard saying "My farm is profitable, but I can't afford to stay in business any longer. I am going to sell the farm and teach at the local TAFE College.' In what sense is ...

Question consider the industry in which you work or one

Question: Consider the industry in which you work, or one about which you have some knowledge. What are the costs and benefits associated with attempting to bar entry of other firms into this industry? How would a firm e ...

Question using the data set macro find the least squares

Question: Using the data set macro, find the least squares estimate of the following two models: Model A: Inves = ßˆ0 +ßˆ1Interest and Model T: Inves = ßˆ0 +ßˆ1Interest +ßˆ3GNP a) What does "least squares estimates" mean ...

Question as an alternative to uniform pricing a monopolist

Question: As an alternative to uniform pricing a monopolist may engage in price discrimination. There are three general forms. Describe each form of price discrimination and provide a real-world example of each. The resp ...

Question read the article the truth about mystery shopping

Question: Read the article, The truth about mystery shopping. At the end of the article click on How to conduct a proper mystery shop and read it as well. Then post your answer to the question: Mystery shoppers, do they ...

Question in france it takes one worker to produce one

Question: In France it takes one worker to produce one sweater, and one worker to produce one bottle of wine. In Tunisia it takes two workers to produce one sweater, and three workers to produce one bottle of wine. Who h ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Microeconomics Expert