Economics Assignment | Internet Utilization

Added on - 01 Apr 2020

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Running head: ECONOMICS ASSIGNMENTECONOMICS ASSIGNMENTName of the StudentName of the UniversityAuthors Note
1ECONOMICS ASSIGNMENTTable of ContentPart 1................................................................................................................................................2Question 3........................................................................................................................................2Part 2................................................................................................................................................3Exercise 3.........................................................................................................................................3Part 4................................................................................................................................................4Exercise 1.........................................................................................................................................4References........................................................................................................................................5
2ECONOMICS ASSIGNMENTQuanitityPriceS1SSS1DD1DD1PQQ1Part 1Question 3c) Internet helps the retailer to understand the affect on distribution of sales of various carmodels, so that they can provide the customers the right car model according to their needs andpreferences and manage inventory (Kolmar 2014). Internet helps the customers to inquire aboutthe cars before purchasing and hence distribution of gains from trade between seller andcustomers increases. The figure is shown below:Figure 1: Increase in demand and supply of cars due to internet utilizationSource: (Authors creation)d) Pareto efficient refers to productive efficiency that concerns with optimal manufacturing ofproduct. Internet benefits the customers in inquiring about the cars and purchase according totheir needs and this leads to socially optimal allocation (Rioset al.2013). It may adversely
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