Graph the demand curve for pecan pie. does the demand curve, Ask an Expert

Economics

1. Pecan pie demand. Your friend Helen B. Carter has left school to open a bakery. She has done some market research and finds that your neighbors value pies according to the following schedule:

Pecan pie MU
1 $40.00
2 $36.00
3 $32.40
4 $29.16
5 $26.24
6 $23.62
7 $21.26
8 $19.13
9 $17.22
10 $15.50
11 $13.95
12 $12.55
13 $11.30
14 $10.17

a. Graph the demand curve for pecan pie. Does the demand curve have a positive or negative slope? Why?

b. How many pies will Helen sell at $19.13? How many at $29.16?

c. What will happen if a new doctor comes to town and tells everyone to lose weight? What will happen if people learn that Helen makes really delicious pies?

View complete question

Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M939089

Have any Question?Write your Review or question?

Related Questions in Microeconomics

Question discuss how recessionary and inflationary gaps may

Question: Discuss how recessionary and inflationary gaps may restore full employment according to the Keynesian perspective. show the appropriate graph to support your explanation. The response must be typed, single spac ...

Question corporate officers and directors owe fiduciary

Question: Corporate officers and directors owe fiduciary duties to the corporation. What is a fiduciary relationship? Identify at least two of the fiduciary duties and provide an example of each. The response must be typ ...

Question 1 explain how trade can impact on the australian

Question: 1. Explain how trade can impact on the Australian dollar 2. How does the Australian dollar affect the Current Account? 3. Describe how the Australian dollar will impact on Aggregate Demand & Aggregate Supply - ...

Question do two variations on the tycoon problem with 100

Question: Do two variations on the tycoon problem with 100 firms. In the first, all numbers are the same as in the text, except the probability that a company is good is now .4 instead of .6. How many winner firms will b ...

Question following are observations on the market price and

Question: Following are observations on the market price and the quantity of good X produced and consumed in three different years: $10 and 100 units, $4 and 57 units, and $8 and 88 units. Can we conclude that the market ...

Question from earlier chapters you will recall that

Question: From earlier chapters you will recall that technological change shifts the average cost curves. Draw a graph showing how technological change could influence intra-industry trade. The response must be typed, si ...

Question the following is an excerpt from a conversation

Question: The following is an excerpt from a conversation between two sales clerks, Jean Moen and Sara Cheney. Jean and Sara are employed by Turpin Meadows Electronics, a locally owned and operated electronics retail sto ...

Question risk management covers many areas of an

Question: Risk management covers many areas of an organization's operations. Describe a minimum of two elements of risk management and (1) evaluate if those elements are present in your organization's risk management pro ...

Question in the topic materials you read several examples

Question: In the Topic Materials you read several examples of ways that servant leadership can be displayed through true volunteerism and acts of service to others. Research an historic or current servant leader who is a ...

Question a common economic experiment is called the

Question: A common economic experiment is called the "ultimatum game." Subject A receives a small amount of cash, say $10. She can give some whole dollar amount to subject B, a stranger whom she cannot see and who cannot ...

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