Explain the difference between a normal good and an inferior good. Would your answers to question 7 change depending on whether this good is a normal or inferior good? Why?

Who We Are

We are a professional custom writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework.

Do you handle any type of coursework?

Yes. We have posted over our previous orders to display our experience. Since we have done this question before, we can also do it for you. To make sure we do it perfectly, please fill our Order Form. Filling the order form correctly will assist our team in referencing, specifications and future communication.

Is it hard to Place an Order?

1. Click on the “Place order tab at the top menu or “Order Now” icon at the bottom and a new page will appear with an order form to be filled.

2. Fill in your paper’s requirements in the "PAPER INFORMATION" section and click “PRICE CALCULATION” at the bottom to calculate your order price.

3. Fill in your paper’s academic level, deadline and the required number of pages from the drop-down menus.

4. Click “FINAL STEP” to enter your registration details and get an account with us for record keeping and then, click on “PROCEED TO CHECKOUT” at the bottom of the page.

5. From there, the payment sections will show, follow the guided payment process and your order will be available for our writing team to work on it.

Need help with this assignment?

Order it here claim 15% discount

Discount Code: SAVE15

Order Now Free Inquiry

We got you covered for the whole semester.

Questions:

Construct a graph showing supply and demand in the electronic dog feeder market, using Microsoft Excel.
How are the laws of supply and demand illustrated in this graph? Explain your answers.
What is the equilibrium price and quantity in this market?
Assume that the government imposes a price floor of $180 in the feeder market. What would happen in this market?
Assume that the price floor is removed and a price ceiling is imposed at $90. What would happen in this market?
Now, assume that the price of feeders drops by 50%. How would this change impact the demand for feeders? Explain your answer and reconstruct the graph developed in question one to show this change.
Assume that incomes of the consumers in this market increases. What would happen in this market? Explain your answer and reconstruct the graph developed in question one to show this change.
Assume that the number of sellers decreases in this market. What would happen in this market? Explain your answer and reconstruct the graph developed in question one to show this change.
Explain the difference between a normal good and an inferior good. Would your answers to question 7 change depending on whether this good is a normal or inferior good? Why?

Submission Details:

Develop your analysis in Microsoft Excel format. Enter non-numerical responses in the same worksheet using textboxes.

Hello, this question is here because we've worked on this and other similar assignments. If you don't know the answer, you can ask us for help. We guarantee an original paper free from Plagiarism.

Order a Similar Paper Order Different Paper

We got you covered for the whole semester.