Micro Economics 2- 5 questions 2023 Business Finance
2023 1 What would be the effect of each of the following on the demand for Chevrolets
1. What would be the effect of each of the following on the demand for Chevrolets in the United States? In each case, identify the responsible determinant of demand.a. The price of Fords plummets. b. Consumers believe that the price of Chevrolets will rise next year.c. The incomes of Americans rise. d. The price of gasoline falls dramatically.
2.
Felix is a wheat farmer who has two fields he can use to grow wheat. The first field is right next to his house and the topsoil is rich and thick. The second field is 10 miles away in the mountains and the soil is rocky. At current wheat prices, Felix just produces from the field next to his house because the market price for wheat is just high enough to cover his costs of production including a reasonable profit. What would have to happen to the market price of wheat for Felix to have the incentive to produce from the second field?
HTML Editor
3.
3. What would be the effect of each of the following on the supply of salsa in the United States? In each case, identify the responsible determinant of supply.a. Tomato prices skyrocket.b. Congress places a 26 percent tax on salsa.c. Ed Scissorhands introduces a new, faster vegetable chopper.d. J. Lo, Beyonce, and Adam Sandler each introduce a new brand of salsa.
4.
Consider a market of MP3 players. List one or two events related with this market which will cause the following results.a. an increase in both equilibrium price and quantity of MP3 players.b. an decrease in both equilibrium price and quantity of MP3 players.c. an increase in equilibrium price and a decrease in equilibrium quantity.d. a decrease in equilibrium price and an increase in equilibrium quantity.
5.
Use three-step method to analyze how the following events influence the equilibrium price and quantity of HDTV.Technological progress increases the efficiency of mass producing HDTV-capable television sets. At the same time, more cable and television networks begin broadcasting in HDTV format, increasing the appeal of HDTV-capable television sets. On the basis of this information, what can be said about conditions in the HDTV market?
We give our students 100% satisfaction for their assignment, which is one of the most important reasons students prefer us from other helpers. Our professional group and planners have more than ten years of rich experience. The only reason that our inception days, we have helped more than 100000 students with their assignments successfully. Our expert’s group have more than 2200 professionals of different topics, and that not all; we get more than 300 jobs every day more than 90% of the assignment get the conversion for payment.
Place Order Now