Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Microeconomics Expert

Economics


Home >> Microeconomics

Micro-economics Discussion Post: Examining Elasticity

After watching the Section 5.3 Review and Section 6.2 Review videos, respond to the questions below.

http://media.pearsoncmg.com/ph/bp/bp_hubbard_econ_5/sectionvid/section0503.html
http://media.pearsoncmg.com/ph/bp/bp_hubbard_econ_5/sectionvid/section0602.html

Gas prices fluctuate often and in both directions. In your initial post, respond to the following:

• How responsive do you think consumers will be to the price change when these fluctuations occur due to changes in supply? Why? Use the various determinants of elasticity to explain your answer.

• How does the price elasticity of demand for gasoline impact the effectiveness of taxes on gasoline aimed at correcting a negative externality?

Consider incorporating the supply-and-demand model to demonstrate the elasticity of demand for gas and to show the effects of tax on the market for gas.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M92253733
  • Price:- $25

Priced at Now at $25, Verified Solution

Have any Question?


Related Questions in Microeconomics

Question below you find several incidents that are the

Question: Below you find several incidents that are the consequence of shifts in either Money Supply or Money Demand. First, tell me whether the instance is due to a Supply or Demand shift. Second, state which specific s ...

Question - let demand be given by qd 8 - 2p let supply be

Question - Let demand be given by QD = 8 - 2P; let supply be given by QS = 2P. A tax of $2 per unit is imposed on consumer, what is the new equilibrium price [the price paid by the consumer]?

Question - andy lange president of the university of south

Question - Andy Lange, president of the University of South Wisconsin, is concerned with the declining business at the University Book Store. The students tell him that the prices are simply too high. Andy, however, has ...

Question market price is 50 the firms marginal cost curve

Question: Market price is $50. The firm's marginal cost curve is given by MC = 10 + 2Q. a. Find the profit-maximizing output for the firm. b. At this output, is the firm making a profit? Explain your answer. The response ...

Question many studies have shown that our sensory detection

Question: Many studies have shown that our sensory detection abilities decline as we grow older. Discuss the implications of the absolute threshold for marketers attempting to appeal to the elderly. The response must be ...

Question how do real-world compaines price their products

Question: How do real-world compaines price their products? Please include examples of strategies from a microeconomics perspective. The response must be typed, single spaced, must be in times new roman font (size 12) an ...

Question using the specific factors model ie labor is

Question: Using the Specific Factors Model (i.e. Labor is mobile but Land and Capital are specific to agriculture and manufacturing) what would be the effect of foreign labor immigration on wage rate and the output of bo ...

Question the price of licenses for tractors owned by

Question: The price of licenses for tractors owned by farmers who grow X falls. The cost of a license is independent of how many days the tractor is used. Will profits on the typical farm increase by more than, less than ...

Question consider a firm that makes plastic cups it

Question: Consider a firm that makes plastic cups. It produces the cups using two inputs: metal molds and plastic pellets that are melted and injected into the molds. The firm only needs one metal mold to produce any num ...

Question international businesswhat are the types

Question: (International business) What are the types contractual arrangements that multinational companies (MNC) can establish? and explain how money is moved around what are MNC's ethics and social responsibilities? Th ...

  • 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

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As

Follow Us

© Copyright 2013-14 mywordsolution.com All rights reserved