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Microeconomics
Examine the possible measures which the government might use to reduce the cost of rail travel in the UK including the rail union’s suggestion of re-nationalisation
Microeconomics
What does the evidence from the article suggest about the market structure operating in the rail industry? Justify your answer. (20 marks) I was wondering if it is monopoly?
https://www.theguardian.com/business/2017/aug/15/uk-commuters-brace-rail-fares-hike-uk-inflation
https://www.theguardian.com/money/datablog/2017/jan/06/tracking-the-cost-uk-and-european-commuter-rail-fares-compared-in-data
https://www.theguardian.com/business/2017/aug/15/uk-commuters-brace-rail-fares-hike-uk-inflation
https://www.theguardian.com/money/datablog/2017/jan/06/tracking-the-cost-uk-and-european-commuter-rail-fares-compared-in-data
Microeconomics
Hard Times Burt buys only rotgut whiskey and jelly donuts to sustain him. For Burt, rotgut whiskey is
an inferior good that exhibits Giffen’s paradox, although rotgut whiskey and jelly donuts are Hicksian
substitutes in the customary sense. Develop an intuitive explanation to suggest why a rise in the price of
rotgut must cause fewer jelly donuts to be bought. That is, the goods must also be gross complements.
an inferior good that exhibits Giffen’s paradox, although rotgut whiskey and jelly donuts are Hicksian
substitutes in the customary sense. Develop an intuitive explanation to suggest why a rise in the price of
rotgut must cause fewer jelly donuts to be bought. That is, the goods must also be gross complements.
Microeconomics
To what extent is the concept of elasticity of demand for rail travel a helpful tool in analysing how rail companies go about setting ticket prices on various routes?
Microeconomics
Explain how both demand and supply side factors are likely to affect the price of rail tickets in the UK. 16 mark answer, Do I talk about the equilibrium price?
An increase in population, average income, price of substitutes, people commuting to work, the demand curve for railway tickets will shift to the right, an increase in demand.Equilibrium rail ticket prices increase.A decrease in population, average income, price of substitutes, less people commuting to work, demand curve for railway tickets will shift to left, a decrease in demand. Equilibrium rail tickets prices decrease. An increase in tax, fuel prices, staff salaries, electricity costs and a lack of subsidies, the supply curve to shift to the left, the supply for railway tickets decrease due to an increase in production costs, equilibrium price increase.
An increase in population, average income, price of substitutes, people commuting to work, the demand curve for railway tickets will shift to the right, an increase in demand.Equilibrium rail ticket prices increase.A decrease in population, average income, price of substitutes, less people commuting to work, demand curve for railway tickets will shift to left, a decrease in demand. Equilibrium rail tickets prices decrease. An increase in tax, fuel prices, staff salaries, electricity costs and a lack of subsidies, the supply curve to shift to the left, the supply for railway tickets decrease due to an increase in production costs, equilibrium price increase.
Microeconomics
can wholefoods sustain its dominant position in luxuury grocery market after merging with Amazon? (monopolistic conpetetion)
can whole foods-amazon sustain price discrimination powers associated with differences between online shopping channel (low price, low cost model ) and physical retailing channel (high price, high cost model) ?
can whole foods-amazon sustain price discrimination powers associated with differences between online shopping channel (low price, low cost model ) and physical retailing channel (high price, high cost model) ?
Microeconomics
''What is meant by the “natural rate of unemployment”? Using diagrams show what happens to the natural rate of unemployment if there is an increase in firms’ price mark up. What is the effect on the supply function?''
can anyone please show me how to draw the diagram because i'm really confused on what should i draw
can anyone please show me how to draw the diagram because i'm really confused on what should i draw
Microeconomics
Ghana brewery limited produces two brands of products, product A and B. Their demand functions are, i. Q1=14-0.25p1 ii.Q2=24-0.5p2 respectively. Their joint cost function = TC=Q1^2 +5Q1.Q2^2+Q2^2. Estimate price and output level that will maximize profit for the company? (Where ^ represents exponent. For example Q1^2, meaning Q1 exponent 2.)
Microeconomics
If the value of the price elasticity of demand is 0.6 demand is said to be
Microeconomics
An individual inherited wealth of$150 and he has a current income in period one of $350. The future income in period two is $270 and he leaves a bequest of $50 to his children. It saves $100 in period one. The interest rate is 10%.
a)Derive the equation of the individual’s inter-temporal budget constraint.
b)Find his consumption in period one and in period two.
c)Graph the individual’s budget line and show his equilibrium point.
d)Consider the original case of an interest rate at 10%. Discuss and show graphically what the equilibrium could be if the individual had received a higher inheritance.
e)Consider the original case of an interest rate at 10%. Discuss and show graphically now what the equilibrium of this individual could have been if the he had NOT received any inheritance but had borrowed $50 during the first period, and had received a future income of $435, still leaving a bequest of $50.Link your finding to the predictions of the Permanent Income Hypothesis theory.
a)Derive the equation of the individual’s inter-temporal budget constraint.
b)Find his consumption in period one and in period two.
c)Graph the individual’s budget line and show his equilibrium point.
d)Consider the original case of an interest rate at 10%. Discuss and show graphically what the equilibrium could be if the individual had received a higher inheritance.
e)Consider the original case of an interest rate at 10%. Discuss and show graphically now what the equilibrium of this individual could have been if the he had NOT received any inheritance but had borrowed $50 during the first period, and had received a future income of $435, still leaving a bequest of $50.Link your finding to the predictions of the Permanent Income Hypothesis theory.
