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Demand, Supply, consumer surplus and Market Equilibrium. The following relations describe monthly demand and supply conditions in the metropolitan area for recyclable aluminum
?QD?=?92 - 2Px?(Demand)
?QS?=?-16 + Px?(Supply)
where Q is quantity measured in pounds of scrap aluminum and P is price in dollars.
Complete the following table:
A. What is the condition for market equilibrium?
B. Calculate the market equilibrium price and equilibrium output?
C. What is the inverse demand curve P = f (QD)?
D. Compute the consumer surplus at the equilibrium price.
E. What is the inverse supply curve P = f (Qs)?
F. Compute the producer surplus at the equilibrium price.
If government’s expenditure (G) is greater than its tax revenues (Tx) government is said to be running a __________. If there is not change in money supply by monetary policy then this can be remedied by_______________
The yield to maturity is equal to
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Explain the pros and cons of using a change in the tax rate to achieve the desired increase in output. Be sure to thoroughly explain how the change will affect equilibrium prices, output, and unemployment.
After calculating the sample size needed to estimate a population proportion to within 0.05, you have been told that the maximum allowable error (E) must be reduced to just 0.025.
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