price and quantity of hamburgers,

Q: how did we get price at $10?

A: As discussed earlier, the monopolist has complete and maximum market power. A Monopolist produces…

Q: What is the term for the total number of units that are purchased at that price?     quantity…

A: Demand shows different combinations of price and quantity demanded. It shows that price and quantity…

Q: According to the CEO of Turing Pharmaceuticals, what would he have done to the price of Daraprim if…

A: The controversy surrounding Turing Pharmaceuticals, particularly its pricing strategy for the drug…

Q: Wayne’s Widget World sells widgets to stores for $9.20 each. A local store marks them up $8.79. What…

A: Markup is the difference between retail price and wholesale price(store price).  Retail price is the…

Q: How much profit will it make at that lower price?

A: The table showing output and cost is as follows:

Q: Situation: Lettuces and strawberries have almost doubled in price, and the produce rep says this…

A: The price of a good is the monetary value of all the inputs that has been used while the production…

Q: laws of supply and demand

A: ‘Law of demand’ states that if commodity price rises then its quantity demand decreases or…

Q: Draw a supply and demand curve for cheeseburgers. Cattle farmers created a supplement to give to…

A: The demand(dd) curve shows us the negative relation that exists between the price(P) of a product…

Q: How does the demand curve look like? Graph it.

A: Demand curve representation of the law of demand, depicts how much quantity of commodity is demanded…

Q: How would marginal utility and market demand be affected by a rise in the price of a contemporary…

A: A complementary product is a product or service that adds value to another product or service. In…

Q: Draw a supply and demand graph for new cars. Show the impact that the 2008-09 recession (with the…

A: Demand is the quantity of a product or service that consumers are willing and able to buy at a given…

Q: Pick a business you use and tell which market they are in and why.

A: A market is a place where the buyers and sellers interact with each other party and determine the…

Q: What happens in the market for beach towels,now that the season is over? Graph and explain

A: Demand is the consumer's willingness to pay or consume a certain good available in the market. It…

Q: There are several hamburger shops around you. You are trying to find ways to make your hamburger…

A: A monopolistically competitive firm will look to differentiate its product from its competitors as…

Q: Identify the goods or services does the Dairy products industry produces

A: The following problem has been answered as follows:

Q: Suppose that supply and demand for a certain commodity are described by the supply curve,…

A: Demand curve is the downward sloping curve. Supply curve is the upward sloping curve. Equilibrium is…

Q: Why do bars offer free peanuts?

A: Bars tend to increase the demand for drinks and beers through the various incentives and…

Q: Refer to Figure 3. Which of the panels represent the situation of a monopoly firm maximizing profits…

A: In a monopoly market,  A monopolist will produce where the marginal cost curve intersects the…

Q: Pepsi and coke are Substitute or compliment good?

A: The goods which can be used in place of one another to fulfill the needs of a consumer are termed as…