Introduction to Economics

SoccerBoss
Category:
Economics
Price: $10 USD

Question description

Hello all, I'd like to ask an economic question,

Assume there is now a snack shop named "759 store"

(1) 759 Store receives more and more bulk purchase discount from overseas wholesalers as the operation scale is getting larger; and

(2) More and more snack shops are opened by other companies in the same area.

Thus, which factor affects the demand of snacks sold by 759 Store? How does it affect the equilibrium price and equilibrium quantity of snacks sold by 759 Store? Then, which factor affects the supply of snacks sold by 759 Store? Again, how does it affect the equilibrium price and equilibrium quantity of snacks sold by 759 Store? To consider BOTH factors TOGETHER, what are the possible effects on the equilibrium price and equilibrium quantity of snacks sold by 759 Store?

Thank you very much


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(Top Tutor) Daniel C.
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School: Rice University
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