Demand Supply Economics Assignment
- 1200 words MINIMUM (not including cover/reference pages)
requirement is at least three scholarly articles, ONE the course textbook, TWO using References below.
- Textbook(s)
Arnold, R.A. (2019). Economics (13th ed.). Cengage Learning.
For the Unit 2 Complete assignment, (minimum of 1200 words) which addresses the 5 questions and statements below. When finished, it should demonstrate a thorough understanding of the READ and ATTEND sections. A minimum of three scholarly sources are required, one may be the Textbook, and all sources should be cited and referenced in APA format. Demand Supply Economics Assignment Help
- 1. Describe how each of the following will affect the demand for hybrid cars:
- A rise in income (assuming that hybrid cars are a normal good)
- Consumers expect prices of hybrid cars to fall in the future.
- Price of gasoline rises.
- Increased number of campaigns in favor of protecting the environment.
- Describe how each of the following will affect the supply of personal computers:
- A rise in wage rates
- An increase in the number of sellers of computers
- A tax placed on the production of computers
- A subsidy for the production of computers Demand Supply Economics Assignment Help
- Refer to graph below to answer the following questions
- Identify the areas that represent consumers’ surplus at the equilibrium price of PE.
- Identify the areas that represent consumers’ surplus if there is a price ceiling of Pc.
- Identify the areas that represent deadweight loss due to a price ceiling set at PC.
- 4. For each of the letters below, indicate if demand is elastic, inelastic, perfectly elastic, perfectly inelastic, or unitary elastic:
- Price rises by 10 percent, and quantity demanded falls by 2 percent.
- Price falls by 5 percent, and quantity demanded rises by 5 percent.
- Price falls by 6 percent, and quantity demanded does not change.
- Price rises by 2 percent, and quantity demanded falls by 3 percent.
- Suppose the current price of gasoline at the pump is $4 per gallon and that 1 million gallons are sold per day. A politician proposes to add a $1 tax to the price of a gallon of gasoline. She says that the tax will generate $1 million in tax revenues per day. Explain the assumption that she is making.
For Demand Supply Economics Assignment Help please click here
Hits : 24