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You are given the following information about the mid-size truck market in the usa, specifically the fictitious mullins trucking corporation, inc. in rochester, ny.

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You are given the following information about the mid-size truck market in the USA, specifically the
fictitious Mullins Trucking Corporation, Inc. in Rochester, NY. The graph you are about to construct will
appear as the 4th graph in your presentation to the Mullins Board of Directors as they try to get a handle
on the supply and demand for their products. This is copyrighted material
From 2010–2015, the prices of their best-selling mid-size trucks, measured in $10,000’s of US Dollars,
was: 85, 75, 65, 55, 45, 35, 25, and 10. During that time, the corresponding amounts that the Mullins
Corporation was willing to sell at those same prices, measured in 100,000s of mid-size trucks was: 9, 8, 7,
6, 5, 4, 3, and 2. Meanwhile, the amount that consumers were willing to purchase at
those same prices, also measured in 100,000s of units, was: 3, 4, 5, 6, 7, 8, 9, and 10. The production
data was retrieved from various hard copy annual reports of the Mullins Corporation while the
consumer data was retrieved from Truckers Digest, in an article written by Rick Trombett, in their March
2022 issue, pages 49-53, “How Many Trucks Can One Firm Produce and Sell.” This is copyrighted
material
From 2016-2021, there was some change in that market. The Mullins Corporation is not exactly clear on
all that occurred in the market, but they know the following. Their customers seemed willing to
purchase more trucks; specifically, 2.0 more units at each and every price point compared to what they
were willing to purchase in 2010-2015. Of course, the Mullins Corporation increased its production;
specifically, a production level increase of 3.0 units at each and every price point they were willing to sell
as compared to 2010-2015. This is copyrighted material
a. In one clearly constructed, legible, and properly labeled graph created using Excel, construct the
supply and demand curves that correspond to 2010-2015 and those from 2016-2021. (45 pts).
This is copyrighted material
b. Referencing the curves constructed in part A, clearly state the equilibrium price and quantity in
the two different time periods (2010-2015 and 2016-2021). (1.5 pts). This is copyrighted
material
c. Using your supply and demand analytical skills, and referencing only the curves constructed in
part A, offer one reason why the price and quantity are different in the 2nd time period as
compared to the first. (Hint: For this, we do not want to know why the curves may have shifted,
but how their shifting resulted in that particular answer.) (6 pts). This is copyrighted
material
d. Assume that in the 2nd time period, there was only a change in demand. What would the
equilibrium price and quantity be now? (1.5 pts). This is copyrighted material
e. Again, assume in the 2nd time period there was only a change in demand. Using your knowledge
of the determinants of supply and demand, and referencing only the curves in part A, offer one
concrete cause as to why that demand may have moved in the direction it did. (6 pts). This is
copyrighted material

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