Economics Answers

1.Administrators are contemplating selling coffee at the George two days out of the week. It is estimated that weekly demand follows Q = 200−50P +30PC where Q is the number of cups of coffee sold each week, P is the price of the coffee, and PC is the price of coffee at the Starbucks down the street. a) How many cups will be sold if P = $1.50 and PC = $2? b) Write down the equation for the George’s demand demand curve for PC = $2. c) If Starbucks increases the price of their coffee to $3, what is the effect on the George’s demand curve? (hint: how far will it shift?) d) Dean Djerdjouri has asked ECON 326 to help estimate a demand curve for coffee being sold at the George. The first step in this analysis is to use economic theory and your intuition on what the most important factors we should take into account when estimating demand. Other than the variables already included, list two other factors that we should include in our analysis and explain the effect you would expect these factors to have on demand.

Does the fact that garbage men make more money than the average high school teacher mean that society values garbage removal more than education? If not, what does it mean ?

Consider a homeless guy desperate for food ? Can u think three ways of substitution that he may be willing to make ? In each case plz specify what he give up and what he gets ?

Would someone who owns a car dealership Most Likely prefer that the government by bonds or sell them? Explain

assume that the market price for a 5kg bag of rice is R80 and the government has announced that a 5kg bag of rice cannot be sold for less than R100 whats the effect on the market demand curve?

Evaluate the usefulness of the data to those who might be required to provide a report on financial activity.

(Statement of comprehensive income)

https://www.rba.gov.au/publications/annual-reports/rba/2018/

Describe how you could index the data on a cash flow statement to ensure it can be quickly located and referred to later. Be specific.

Assume that the market price for a 5kg bag of rice is R80 and the government has announced that 5kg bag of rice cannot be sold for less than R100 with the aid of a well labelled diagram , explain the effect the above government decision will have in the market for rice

how does changing the reserve requirement or/and discount rate impact individuals hoping to borrow money?

discuss any five factors that could lead to an increase in the demand