Who profit by this law. under illustrate what, Ask an Expert

Economics

Q. Assume that only way to reach a certain restaurant is by train and train fare is $3. One day a law is passed requiring restaurant owner to provide free transportation to his restaurant which he does by making an arrangement with railroad whereby his customers ride free and he pays $3 fare per customer directly to railroad.
a) Illustrate what does do to supply curve for restaurant meals?

b) Illustrate what does this do to demand curve for restaurant meals?

c) Compare cost customers pay for meals before and after law passed. Same thing is for seller.

d) Who profit by this law? Under Illustrate what circumstances would restaurant voluntarily provide free transportation? Use a supply and demand graph to justify your answer.

View complete question

Business Economics, Economics

Category:- Business Economics
Reference No.:- M9292731

Have any Question?

Related Questions in Business Economics

Discuss the budgeting process and describe the success or

Discuss the budgeting process and describe the success or failure of the process.

The standard deviation of the number of video game as

The standard deviation of the number of video game A's outcomes is 0.5479, while the standard deviation of the number of video game B's outcomes is 0.2498. Which game would you be likely to choose if you wanted players t ...

Consider the following series of paymentsyear 0 20year 1

Consider the following series of payments: Year 0: 20 Year 1: 30 Year 2: 40 Year 3: 10 Year 4: 5 Using an interest rate of 10%: a. What is the present value of this series of payments? b. What is the future value of this ...

C 4005timesy - tg215 billion ip50 billion and t10

C = 40+0.5×(Y - T) G=$215 billion, IP=$50 billion and T=$10 billion. Y=C+IP+G What is the equilibrium income level? Suppose that government purchases are reduced by $100 billion. What is the new equilibrium level of inco ...

Suppose in equilibrium and in a closed economy at the point

Suppose, in equilibrium and in a closed economy, at the point of tangency between the iso-value line and the ppf, we observe that MPLf= 8 MPLm= 2 and PM=1 what is Pf? what is the wage?

How do bribery and corruption influence the economy

How do bribery and corruption influence the economy negatively? Answer and explain three major impacts.

In a class there are 7 girls and 5 boys the median age of

In a class there are 7 girls and 5 boys. The median age of the 7 girls is 12 and the median age of the 5 boys is 14. Additionally, you know that there are 3 girls with age greater than 14 and 2 boys with age less than 12 ...

Please help me answer the followingkingsnorth et al 2002

Please help me answer the following Kingsnorth et al. (2002) examined the case processing time (in days) from arraignment to disposition for cases processed by the Sacramento County District Attorney's office. For the 90 ...

Suppose we can only sample from uniform distribution 01

Suppose we can only sample from Uniform distribution (0,1) with k=3. Design an algorithm to simulate chi-square distribution with 2k freedom via general transformation method.

A firm produces product a and product b this years sales

A firm produces Product A and Product B. This years sales price of Product A have decreased tremendously, and the sale of Product B has increase by 10 percent. The firm has threeemployees that can produce Product A and f ...

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 Business Economics Expert