Main elements1 identify two non-price variables such as, Ask an Expert

Economics

Main Elements:

1. Identify two non-price variables such as customer income or demographics, advertising, prices charged for related goods or services, or interest rates that affect the demand for the products or services you identified in your selection.

2. How does each of the variables affect the quantity demanded?

3. Identify two non-price variables, such as wages paid to workers, energy cost, price of key inputs, or technology, that affect the supply of the products or services you identified in your selection.

4. How does each of the variables affect the quantity supplied?

5. Based on your analysis, describe the current market equilibrium for the industry.

6. Based on your analysis of the non-price demand and supply factors, what external conditions should managers be monitoring in order to predict future changes?

View complete question

Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91385305
Price:- $40

Guranteed 36 Hours Delivery, In Price:- $40

Have any Question?Write your Review or question?

Related Questions in Microeconomics

Question what were the principal factors that caused the

Question: What were the principal factors that caused the ratio of the purchase of producers' durable equipment to GDP to rise so much during the 1990s? Why was this pattern suddenly reversed in 2001? The response must b ...

Question you are an economist who wants to know how risk of

Question: You are an economist who wants to know how risk of on-the-job injury affects peoples' wages. Studying construction workers (who have a substantial risk exposure), you discover that they earn very little more th ...

Question what factors would you consider when determining

Question: What factors would you consider when determining whether an investment in sub-Saharan Africa would be profitable for your company? Would the same factors hold for South Africa? The response must be typed, singl ...

Question an equipment costs 12000 and can be sold at the

Question: An equipment costs $12,000 and can be sold at the end of 5 years for $300. What is the depreciation for year 3 if the sum of years' digits depreciation method was used? The response must be typed, single spaced ...

Question if it is properly adjusted a machine used to

Question: If it is properly adjusted, a machine used to produce Good X produces 5 percent defective units of output. If improperly adjusted it produces 20 percent. You randomly pick a freshly produced unit of Good X and ...

Question 1 what is the participation rate if there are 125

Question: 1. What is the participation rate if there are 125 million people in the labor force, 100 million people employed, and 25 million not in the labor force? 2. Last year, Linus earned a salary of $25,000 and he sp ...

Question in allocating resources for the next calendar year

Question: In allocating resources for the next calendar year, the company budgeted for hiring one additional part-time staff member at $12,480 to focus on advertising. The company also budgeted for $55,000 in advertising ...

Question - paula deen runs a seafood restaurant in savannah

Question - Paula Deen runs a seafood restaurant in Savannah, Georgia. Her total revenue last year was $150,000. The rent on her restaurant was $48,000, her labor costs were $42,000, and her materials, food, and other var ...

Question write a short 2-3 page typed double-spaced essay

Question: Write a short (2-3 page, typed, double-spaced) essay. Conduct a thorough analysis of both the classical economic model and the Keynesian economic model. Describe the impact on the aggregate demand and supply cu ...

Question in 1955 the last year when social security

Question: In 1955, the last year when social security payments included only old-age payment (before disability), payments totaled $4.9 billion. For 2001, the figure was $433 billion (excluding Medicare, which was anothe ...

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