Use Table to answer questions
In Table 1, if price is Rs 26, the perfectly competitive firm will:
Use Table to answer questions
Refer to the competitive firm in Table 1. If the market price is Rs 31, the firm will produce:
Use Table to answer questions
Refer to Table 1 which lists the average costs of a perfectly competitive firm. If the price of the good is Rs 13, the firm will be produce
Questions are based on the demand and supply diagrams in Figure 1. D1 and S1 are the original demand and supply curves. D2, D3, S2 and S3 are possible new demand and supply curves. Starting from initial equilibrium point (1) what point on the graph is most likely to result from each change?
What combinations of changes would most likely decrease the equilibrium quantity?
Questions are based on the demand and supply diagrams in Figure 1. D1 and S1 are the original demand and supply curves. D2, D3, S2 and S3 are possible new demand and supply curves. Starting from initial equilibrium point (1) what point on the graph is most likely to result from each change?
Assume that consumers expect the prices on new cars to significantly increase next year. What point in Figure 1 is most likely to be the new equilibrium price and quantity?
Questions are based on the demand and supply diagrams in Figure 1. D1 and S1 are the original demand and supply curves. D2, D3, S2 and S3 are possible new demand and supply curves. Starting from initial equilibrium point (1) what point on the graph is most likely to result from each change?
Heavy rains in Maharashatra during 2005 and 2006 caused havoc with the rice crop. What point in Figure 1 is most likely to be the new equilibrium price and quantity?
Questions are based on the demand and supply diagrams in Figure 1. D1 and S1 are the original demand and supply curves. D2, D3, S2 and S3 are possible new demand and supply curves. Starting from initial equilibrium point (1) what point on the graph is most likely to result from each change?
We are analyzing the market for good Z. The price of a complement good, good Y, declines. At the same time, there is a technological advance in the production of good Z. What point Figure 1 is most likely to be the new equilibrium price and quantity?
Questions are based on the demand and supply diagrams in Figure 1. D1 and S1 are the original demand and supply curves. D2, D3, S2 and S3 are possible new demand and supply curves. Starting from initial equilibrium point (1) what point on the graph is most likely to result from each change?
Assume X is a normal good. Holding everything else constant, assume that income rises and the price of a factor of production also increases. What point in Figure 1 is most likely to be the new equilibrium price and quantity?