--%>
Assignment Help - homework help

Problem on decline in demand function

In the month of January, Disney World in Florida cut its ticket prices into half and starts letting all kids beneath age five without charge. The economic forecaster might reasonably expect: (1) A decline in demand for the tickets to Disney Land in California. (2) A raise in the number of airplanes going to the California. (3) Declines in the sales of Mickey Mouse paraphernalia. (4) Heavy crowds on the beaches in Hawaii in the month of January. (5) A reduction in the number of airplanes going to the Florida.

Find out the right answer from the above options.

   Related Questions in Microeconomics

  • Q : Most perfectly price inelasticity in

    In illustrated graph below, supply is mostly perfectly price inelastic at: (i) point a. (ii) point b. (iii) point c. (iv) point d.

    Q : Price equality with marginal costs It

    It is not possible for a nondiscriminating, that profit maximizing monopolist to attain equilibrium where MR = MC as well as: (w) economic profit = 0. (x) economic profit is negative. (yz marginal costs are at the minimum of average costs [MC = ATC].

    		•
  • Q : International federal or agreements and

    Consider goods for that various people are willing and capable to pay much more than the costs of production therefore widespread shortages exist. International federal or agreements, state and local laws as well as regulations are probably key factor

    		•
  • Q : Division of Labor I have a problem in

    I have a problem in economics on Division of Labor. Please help me in determining the right answer from the following question. Shannon brewing an espresso drinks whereas Kelly bakes the croissants at their coffee shop are an illustration of: (i) Comp

    		•
  • Q : Demand and elasticity (a) Suppose the

    (a) Suppose the income elasticity of demand for pre-recorded music compact disks is +4 and the income elasticity of demand for a cabinet maker’s work is +0.4. Compare the impact on pre-recorded music compact disks and the cabinet maker’s work of a recession that reduces consumer incomes by 10 per c

    		•
  • Q : Characteristics of pure monopoly This

    This is untrue that a firm which is a pure monopoly: (1) commonly engages in extensive advertising to differentiate its products. (2) produces a level of output which is closer to socially optimal when this price discriminates. (3) is the sole produce

    		•
  • Q : Corollary of the law of equal marginal

    The corollary of the law of equal marginal benefit is the principle of: (1) Equal marginal utilities per dollar. (2) Diminishing marginal utility. (3) Income injection. (4) Substitution in demand. (5) Diminishing returns. Can someo

    		•
  • Q : Analysis deregulation caused the

    Choose the right answer of the following problem. "The government deregulated the electricity industry in California and a shortage of electricity occurred soon . It is clear that the deregulation caused the shortage." This statement requires careful analysis becau

    		•
  • Q : Increase profits of quantity selling by

    When a monopolist was selling a quantity which marginal revenue [MR] is greater than marginal costs [marginal costs [MC] in that case this could increase profits by: (w) raising price. (x) increasing output. (y) raisi

    		•
  • Q : Interaction of demand and supply with

    Identify and explain the main economic factors that determine the price of a good or service. Please include how demand and supply interact and elasticity, etc. Also give examples with graphs.

    		•