64 588
Assignments Done
99,2%
Successfully Done
In September 2018

Answer to Question #64723 in Microeconomics for sristi poudel

Question #64723


QUESTION 2

Ceteris paribus, an increase in the demand for yoga services has occurred at the same time when the number of yoga service providers has decreased due to stricter government regulations. Using demand and supply analysis, explain the impact on price and quantity in the market for yoga services?
(HINT: THERE ARE 2 FACTORS WORKING AT THE SAME TIME)

QUESTION 3

Recently, due to the discovery of bird flu, the Swedish government ordered the culling of a few hundred thousand chickens. This was accompanied, at the same time, by a fall in demand for live chickens. Using demand and supply analysis, explain the impact on price and quantity in the market for live chickens?
(HINT: THERE ARE 2 FACTORS WORKING AT THE SAME TIME)





Expert's answer
QUESTION 2

If an increase in the demand for yoga services has occurred at the same time when the number of yoga service providers has decreased due to stricter government regulations, then the demand curve shifts rightward and the supply curve shifts leftward, so the price for yoga will increase and the change in quantity of yoga services can't be calculated without further information.

QUESTION 3

If the Swedish government ordered the culling of a few hundred thousand chickens, which was accompanied, at the same time, by a fall in demand for live chickens, then the demand curve shifts leftward and the supply curve shifts leftward too, so the change in price can't be calculated without further information and quantity of live chickens will decrease.

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

Assignment Expert
24.01.17, 17:19

Dear sristi poudel,

If you have serious assignment that requires large amount of work and hence cannot be done for free you can submit it as assignment and our experts will surely assist you. Price depends on complexity of your assignments and deadline. Please submit your assignments to our control panel and you'll get price estimation. If you have further questions please feel free to ask them via info@assignmentexpert.com (our support department) or use live chat on this website.

sristi poudel
21.01.17, 04:58

there should be diagram in these answers

Leave a comment

Ask Your question

Submit
Privacy policy Terms and Conditions