Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Statistics and Probability Expert

There are 2 brands of cell phones that are almost identical except for some minor features: the A-Phone and the Pomegranate.

Part I

Draw the demand curve for the A-Phone. describe how the graph, price, and quantity demanded will change if the following occurs:

• There is an overall increase in income.
• There is an overall increase in income and people believe that the Pomegranate is now better than the A-Phone.
• The price of the A-Phone goes up when a flaw is found in the Pomegranate.
• A new type of walkie-talkie has an unlimited range and is basically free.
• It is discovered that there are health concerns when using cell phones.
• There is a baby boom.
• The price of the A-Phone and the Pomegranate both go up.

What happens to the supply of cell phones if the market price goes up?

Part II

describe what happens to the price and quantity supplied and how it reflects on a graph if the following occurs:

• It becomes more expensive to produce cell phones.
• More cell phones are being produced with the same amount of inputs.
• Walkie talkies are popular because of the new technological change mentioned above.
• Another company starts producing cell phones, and now there are 3 producers in the market.
• People think the price of cell phones will go up in the future.

Part III

Draw a graph which shows the equilibrium price of cell phones. describe what the graph is showing.

When the new manufacturer introduces the Robo cell phone to the market, how does that effect the equilibrium price if the Robo is basically the same as the other cell phones?

Part IV

As the public’s dependence on cell phones continues to grow, the cost of the phones may be decreasing, but the stronghold that telecommunication companies have on the public in regards to contracts and climbing fees is alarming.

Additionally, all cell phone companies charge about the same prices, and the consumers do not have much choice in substituting providers. Consumers appear to need some controls in this regard, and the government decides to step in.

• What is the effect of government intervention in the cell phone market? Make sure that you use graphs to illustrate your point.
• Is this a good thing for consumers?

On the other hand, the government sees the increase in cell phone use as an opportunity to make some additional revenue, and it decides to tax service providers.

• Who is really paying the tax?
• Illustrate your conclusion on a graph.
• Do you think that there is a free market for cell phone users? Why or why not?

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M91527

Have any Question? 


Related Questions in Statistics and Probability

Problem 1somewhere in the milky way galaxy a class of 2000

Problem 1 Somewhere in the Milky Way Galaxy, a class of 2,000 students took a course in Astronomy.  The first exam scores and the final exam percentage reached earth, but transmission broke off after only a dozen student ...

Researchers are interested in determining if men and womens

Researchers are interested in determining if men and women's hearts tend to be different sizes. In a sample of 12 males, the mean diameter of the heart was 13.21 cm with a standard deviation of 1.05. Among 9 females, the ...

Assume that womens heights are normally distributed with a

Assume that women's heights are normally distributed with a mean given by mu equals 63.3 in, and a standard deviation given by sigma equals 3.1 in. Complete parts a and b. a. If 1 woman is randomly selected, find the pro ...

Pretend we are playing a coin-tossing game we will toss 100

Pretend we are playing a coin-tossing game. We will toss 100 pennies (all distinguishable) into the air, and there is an equal chance they will land on the table or on the floor. What is the dimensionless entropy associa ...

Subway footlongs are supposed to be 12 inches long you

Subway footlongs are supposed to be 12 inches long. You strongly suspect that Subway is up to its old tricks and is reducing the size of its delicious sandwiches. For your research, you randomly sample Subways and eat 10 ...

Describe secretary of state john quincy adamss address to

Describe Secretary of State John Quincy Adams's Address to Congress, July 4, 1821. As a statement of American Foreign Policy, what does it assert? Do you think it accurately reflects American Foreign Policy up to that ti ...

Assignment- data description collection and sampling1a

Assignment- Data: Description, Collection, and Sampling 1. A study was conducted of the 12-month earnings per share for two categories of airline companies, with the result shown in the chart below. Based on the data, wh ...

A geologist collects hand-specimen sized pieces of

A geologist collects hand-specimen sized pieces of limestone from a particular area. A qualitative assessment of both texture and color is made with the following results. Is there evidence of association between color a ...

Using the table below compute the spearman rank correlation

Using the table below, compute the spearman rank correlation coefficient for the aggressiveness scores. Does this suggest that both twins tend to be similar in degrees of aggressiveness? Twin set 1 st  born aggressivenes ...

Part -11 the final project is like a very abbreviated mini

Part -1: 1) The final project is like a VERY abbreviated mini research report, where you will be running a combination of descriptive statistics and inferential statistics on a dependent variable and an independent varia ...

  • 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

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen