Supply and demand graph | Economics homework help

You are a junior executive of a new cellular phone carrier called Technologies of the Future (TOF) that competes in the same market as Verizon Wireless, AT&T, and T-Mobile. You have been tasked with providing the Committee Board members of TOF with a report that discusses issues that would be encountered by Technologies of the Future (TOF) when deciding whether to trade at a domestic level and how TOF would be affected by international trade, specialization, tariffs, and quotas. Graph the supply and demand curves in Excel using the values given in the table below and paste the graph into a Word document.Your graph must be properly constructed; please use a scatter graph with markers or a scatter graph with smooth lines. The graph should include a chart title, x-axis, y-axis, and contain a properly labeled equilibrium point.

  • Draw on your graph a price ceiling and a price floor and discuss what those terms mean. Explain which government mandated price would result in a market shortage and a market surplus and why?
  • If the price elasticity of demand is 5, and prices increase by 10%, calculate the percentage change in quantity demanded.
  • Explain which TOF smartphones and Apple iPhones would be considered substitutes or complementary goods in terms of changes in price, and what impact a change in quantity would have. 
    • Is the cross-price elasticity of demand positive or negative, and why?
  • Explain which TOF smartphones and phone chargers would be an example of substitutes or complementary goods.
Calculate Your Essay Price
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more