Answer to Question #213145 in Microeconomics for Sumeya

Question #213145

What is the effect on the market price and output of hamburger with reference to widespread disease of beef and dramatic improvement in fast food technology

Expert's answer

Market price of the hamberger will increase

While the output will reduce.

Learn more about our help with Assignments: Microeconomics

Comments

No comments. Be the first!

Leave a comment

Related Questions

1. Give economic enterpretiton of demand function
2. Why is price discrimination not possible under the perfect market
3. The market for Good A is in equilibrium. If there is a decrease in the price of an input used to pro
4. you are told that the price of beef fell by 50%, the quantity of demand rose by 100%. the demand for
5. Assume that the farmer wants to produce a fixed amount of fodder at a feasible level y2 0 . He dec
6. "What is the point of entering a perfectly competitive industry if it is simply to earn zero pr
7. Suppose that type I sellers charged the price of $60 for the portable TV, type II sellers charged $8