For each of the following scenarios, use a supply and demand diagram to illustrate the effect of the given shock on the equilibrium price: Microeconomics Assignment, UNMC, Malaysia
|University||University of Nottingham Malaysia (UNMC)|
For each of the following scenarios, use a supply and demand diagram to illustrate the effect of the given shock on the equilibrium price and quantity in the specified competitive market. Explain whether there is a shift in the demand curve, the supply curve, or neither.
a) The DBKL decides to increase the price of a T-token from RM 1.25 to RM 1.70, and also increases the price of monthly T-passes. Show the effect on demand, supply and on the equilibrium in the Kuala Lumpur area market for used cars. Are T-passes and cars substitutes or complements?
b) America is the biggest producer of corn in the world. Bad weather conditions in the Midwest lead to a very low production of corn in the USA. Show the effect on the world corn market.
Stuck in Completing this Assignment and feeling stressed ? Take our Private Writing Services.
Get Help By Expert
Assignment helper malaysia is the perfect place for students who want to write Microeconomics homework solution but don't know how to write assignment. Our dedicated team of qualified writers provides the do my Assignment malaysia service on economics. our writers are available 24 hours to serve the DQS156 Principles Of Economics Assignment Sample, HBU131 National Kesatria III Assignment Example, ECO211 Macroeconomics UiTM Assignment Example etc. at an reasonable price.
Recent Solved Questions
- BAGB1023: You are required to prepare a Change Management Plan for the Company: Organizational Behaviour Assignment, UIU, Malaysia
- Determine the minimum fresh water and minimum wastewater targets for the above system using water cascade analysis: Advanced process integration Assignment, CU, Malaysia
- ITX Computer Sdn Bhd is a computer company specializing in supplying computer components to the Asia market: Principles of Programming Assignment, UNM, Malaysia
- BBM511/03: The assignment is based on the BTC-USD and ETH-USD CSV files And The data for Bitcoin covers October 2015: Quantitative techniques Assignment, MUCM, Malaysia
- As a creative director of a new fashion company, you are required to create one fashionable product: Innovation Management Report, UniKL, Malaysia
- You are working for a marketing company that specializes in helping companies to market their products: Programming model Assignment, SU, Malaysia
- Elyna Deschamps has just left herjob as a website designer for a large systems design company and is about to start up her own website design: PROJECT MANAGEMENT Essay, KUL, Malaysia
- Explain the overall process of developing a new software application based on the latest literature: BUSINESS INFORMATION SYSTEMS Report, UCSI, Malaysia
- MPU3223_V2: Choose a Popular Travel Agency in Malaysia Such as Reliance Travel: Entrepreneurship Assignment, OUM
- BMG311.03: Describe the circumstances in which a contract of service may bebreak by either party of an employment contract: Employment Law and Industrial Relations Assignment, WOU, Malaysia