Microeconomics Answers

Suppose Colgate and Doctor Toothpastes are substitutes for each other; explain the effect of an increase in the price of Colgate on the demand for Doctor Toothpaste? Also, illustrate diagrammatically this change in the demand for Doctor Toothpaste will be entitled as a change in quantity demanded or a change in demand curve?

Suppose Colgate and Doctor Toothpastes are substitutes for each other; explain the effect of an increase in the price of Colgate on the demand for Doctor Toothpaste? Also, illustrate diagrammatically this change in the demand for Doctor Toothpaste will be entitled as a change in quantity demanded or change in demand curve?

Due to substantial increases in prices in country A ,the real income level of the population in country A decreases.show on a diagram how the decrease in the income level in country A Wil affect the demand for meat, which is a normal good.also equilibrium price and equilibrium quantity will change in country A. The direction of any changes should be clearly indicated using arrows

Illustrate and explain how equilibrium is determined in an oligopoly market structure.

What does a rightward shift in the demand curve mean?

In the competitive market for organic corn, market demand is QD = 340 – 2P and market supply is

QS = 100 + 4P, where P is the price per bushel, and Q is market output in thousands of bushels.

Each individual farmer faces a marginal cost function of MC = 10 + 3q, where q is the single

farmer’s output level in thousands.

a) What is the equation for the demand (which is also MR) faced by the individual farmer?

how india can achieve energy efficient future Practical application and relating concepts with real world

Suppose that people decide riding scooter is no longer fun, what will happen to the equilibrium price and quantity

The United States can use all its resources to produce 250 DVDs or 500 shoes. China can use all

of its resources to produce 30 DVDs or 300 shoes. The opportunity cost of producing a DVD in

the United States is

Question : Consider a market structure comprising two identical firms (A and B), each with the cost function given by

Ci = 30Qi , where Qi fori = {A, B} is output produced by each firm.

Market demand is given by

P = 210 − 1.5Q, where Q = QA + QB

(i) Find Cournot equilibrium.

(ii) What will be the outcome if the firms decide to collude? Compare it with the results

under the Cournot equilibrium.