Exam (elaborations)
ECS1501 Assignment 5 2024 (654552) - DUE 22 July 2024
- Course
- Institution
ECS1501 Assignment 5 2024 (654552) - DUE 22 July 2024 QUESTIONS AND ANSWERS
[Show more]
Seller
Follow
jpapaya
Reviews received
Content preview
ECS1501 Assignment 52024 (654552) - DUE
22 July 2024
QUESTIONS WITH COMPLETE ANSWERS
[School]
[Course title]
, ECS1501 Assignment 5 2024 (654552) - DUE 22 July 2024
Question 1 (12 marks)
Maximum word count: 100 words Giant, the world’s leading brand of high-quality bicycles and
cycling gear, announced that their pre-tax profit has decreased by almost 50% while their sales
were down by approximately 16%. Watch the following excerpt from The Wild Ones Podcast
Ep.41produced by Cade Media (attached below) and answer the following questions.
(i) Which of the presenters best describes the market condition that Giant Bicycles faces and
explain why you agree with him or her?
(ii) Draw a diagram of the bicycle market that illustrates the market conditions discussed in the
podcast.
(iii) Explain the adjustment process to the new equilibrium position in the bicycle market.
Question 2 (5 marks)
No words allowed, only a diagram with annotations To answer this question only a diagram with
annotations is required. Suppose beer and peanuts are complements. In anticipation of warm
weather conditions, Injabulo Breweries, the brewers of Number One beer, increased the
production of Number One beer. Show on a diagram how this will affect the market for peanuts.
Indicate how the equilibrium price and equilibrium quantity of peanuts will change. The
direction of any changes should be indicated using arrows.
Question 3 (13 marks)
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller jpapaya. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $2.84. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75759 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now