Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Microeconomics Expert

In 1991, Rochester, New York, had a serious ice storm. Electric power was out in houses for days. The demand for power generators increased dramatically. Yet the local merchants did not increase their prices, even though they could have sold the units for substantially higher prices. Why do you think that the merchants adopted this policy?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M9309812

Have any Question?


Related Questions in Microeconomics

Question suppose the federal government decides to levy a

Question: Suppose the federal government decides to levy a sales tax of $1.00 per pie on pizza. Briefly explain whether you agree with the following statement, made by a representative of the pizza industry: The pizza in ...

Question you can choose between machine a or b your

Question: You can choose between Machine A or B. Your interest rate is 6%. You need a Machine for an infinite time. a. Machine A costs $22,000 and lasts for 3 years. It has no salvage value and costs an additional $15,00 ...

Question every so often a disgruntled college graduate sues

Question: Every so often, a disgruntled college graduate sues her school on grounds that her tuition payments did not land her the good job she was expecting when she started there. Courts invariably throw out cases like ...

Question drug law enforcers can concentrate their efforts

Question: Drug law enforcers can concentrate their efforts on reducing supply or demand, removing suppliers or removing demanders. a. Assuming that your goal is to raise the price of drugs to a prohibitive level, should ...

Question describe the current problem that the annual

Question: Describe the current problem that the annual budget deficit presents to the US. Indicate what the impact of not solving the issue will cause and why you think it has not been solved. On a scale of 1 (Low) to 5 ...

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 imagine that 50-year-old men can be divided into

Question: Imagine that 50-year-old men can be divided into two groups: those who have a family history of cancer and those who do not. For the purposes of this example, say that 20% of a group of 1,000 men have a family ...

Question economies around the world are becoming

Question: Economies around the world are becoming increasingly globalized. How does this globalization affect the choices you face in your economic decisions? Do the effects change if you think of yourself as a consumer ...

Question with the introduction of new technology it becomes

Question: With the introduction of new technology, it becomes easy to purchase items without the use of direct money. How do you think the introduction of this new technology affects the amount of currency in the economy ...

Question why might mcdonalds and its franchisees disagree

Question: Why might McDonald's and its franchisees disagree on the proper retail price to charge? How do the incentives of the parent and its franchisees differ under a standard revenue-sharing franchise contract? The re ...

  • 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