|University||Ascencia Business School (ABS)|
Answer the below questions.
1) Explain the different factors affecting Supply with a well-labeled diagram.
2) Explain the different types of Costs in a tabular format & with a well-labeled diagram.
3) Demand for a product is usually very sensitive to economic variables, such as prices and consumer income. This responsiveness of demand is elasticity. Compute elasticity in the below scenarios:
a)Yesterday, the price of envelopes was $3 a box, and Jacky was willing to buy 10 boxes. Today, the price has gone up to $3.75 a box, and Jacky is now willing to buy 8 boxes. Is Jacky’s demand for envelopes elastic or inelastic? What is Jacky’s elasticity of demand?
b)Katy advertises selling cookies for $4 a dozen. She sells 50 dozen and decides that she can charge more. She raises the price to $6 a dozen and sells 40 dozen. What is the elasticity of demand?
4) Demand for a product is usually very sensitive to economic variables, such as prices and consumer income. This responsiveness of demand is elasticity. Explain the different types of demand elasticity with appropriate formulae.
Stuck! We Have Native UAE Tutors Online 24*7 Who can Answer your Assignment & Homework Questions Instant.
5) Assume the demand being perfectly inelastic, and supply suddenly doubles due to innovative techniques of production. Illustrate in a well-labeled graph, the changes in the equilibrium price, and quantity, and also is advisable to do so from the supplier point of view.
Answer the below questions.
1) An economist might say that Starbucks is perfectly competing in a mono politically competitive market structure. Because you just need an espresso maker and some beans, market entry is easy. But to be successful, you need something unique–the monopolistic part. Starbucks, through its beans, its barista training, and its store design competed successfully. Also, facing monopolistic competition in large cities like NY and Chicago, they needed a store on every block. In light of this
a. Apply your understanding and concepts from microeconomics, to investigate and summarize the major characteristics of the coffee industry.
b. Describe and analyze the pricing policies that you would expect to find in this industry.
feeling stressed! Dont Know the answer of your assessment questions? Ask Native UAE Experts & Get 100% Plagiarism free papers
2) After several years of decline, the market for handmade acoustic guitars is making a comeback. These guitars are usually made in small workshops employing relatively few highly skilled luthiers. Assess the impact on the equilibrium price and quantity of handmade acoustic guitars as a result of each of the following events. In your answers indicate which curve(s) shift(s) and in which direction.
a. Environmentalists succeed in having the use of Brazilian rosewood banned in the United States, forcing luthiers to seek out alternative, more costly woods.
b. A foreign producer reengineers the guitar-making process and floods the market with identical guitars.
c. Music featuring handmade acoustic guitars makes a comeback as audiences tire of heavy metal and grunge music.
d. The country goes into a deep recession and the income of the average American falls sharply.
Need help with UAE academic essays & assignments online?
If you are not able to do your economics assignment then pay someone to write your business management assignment on managerial economics. UAE assignment help executives, master of business administration assist you to solve economics questions before your deadline.
Looking for Plagiarism free Answers for your UAE college/ university Assignments.
- Argumentative Essay About Using Technology In School: English Writing Skills Essay, EU, UAE
- You Will Assume The Role Of A Management Consultant: Strategic Management For Engineers And Technologists Assignment, UOWD, UAE
- Explain The Essence Of Corporate Social Responsibility (CSR) And Why It Serves An Emerging Strategy: Business Administration Essay, GBS, UAE
- Is Starco Liable To Any Of The Buyers Of The 1,000,000 Reform Corp Shares: Business Law Case Study, UAEU, UAE
- MN5617: Critically Evaluate And Implement Principles Of Systems Approach And Analysis: Systems Modelling And Simulation Assignment, MUL, UAE
- Explain To The Manager Of The Firm The Obligations Of A Bond Issue: Introduction To Finance Assignment, US, UAE
- FIN 200: Calculate10 Ratios, 2 Ratios From Each Of The Five Categories Of Ratios: Financial Management Assignment, AUE, UAE
- MBA 210: A Business Incubator Is Planning To Hire A Candidate: Entrepreneurship And Small Business Management Assignment, WUC, UAE
- SEN 3230: Software Engineering Is An Engineering Discipline That Is Concerned: Software Project Management Assignment, EAU, UAE
- BUS4001: Choose An Organization With Which You Are Familiar: Understanding The Business Environment Assignment, AU, UAE