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The consumer of a bottle is willing to pay $18 for 3000 bottles but for every $8 decrease they are willing to buy 9000 more bottles. the suppliers will not supply any bottles at a price of $6 per bottle, but are willing to sell 3000 bottles for a unit price of $10. The supply and demand are linear.
a) find the demand equation
b) find the supply equation
c) find equilibrium
As per to Global Insight, a Massachusetts economics consultancy, elucidate what will happen if oil prices remain in the range of $65 to $70 per barrel for a couple of more months.
Suppose the economy is in long-run equilibrium when GDP declines by $50 billion. The government wants to increase its spending in order to stimulate the economy and avoid a recession. According to Keynesian theory, how much additional government spen..
Tax Freedom Day answers the basic question, Illustrate what cost is the nation paying for government.
Illustrate what is the economy's MPC? It's MPS. Illustrate what was the APC before the increase in disposable income.
Suppose 20 balls are placed in a bag. 10 balls are red, 9 balls are yellow and 1 ball is green. If you draw a red ball you must pay $10. If you draw a yellow ball you get $2. If you draw the green ball you get $100.
Consider the following distribution of income in a 12 person economy, with the modern urban wage=3, the traditional rural income=1 and the informal urban wage = 2: (1,2,3,1,2,3,1,2,31,2,1). the poverty line is at 1.3. What is the level of absolute po..
Assume you developed a process for underfilling of flip chips and sent that on to manufacturing where they are happily producing product. One day manufacturing stops because the underfill doesn't flow as usual -- something is changed about the underf..
q1. managerial economics involves use of economic analysis to make business decisions involving the best use of a firms
Suppose that in a week the price of Greek yogurt increases from $1.25/lb to $1.75/lb. At the same time, the quantity of Greek yogurt supplied increases from 100,00 lbs to 150,000 lbs. What is the price of elasticity of supply for Greek yogurt?
What does Tim Harford, author of the undercover economist, think are the major reasons for increasing inequality in English speaking countries?
HMK is a handbag making company. They have a forecasting team which provides them thedemand forecast for their product. The report provided by the forecasting team indicates the demand forecast for the next 6 months. It takes a handbag maker 15 minut..
How many people are unemployed according to the Burea of Labor Statistics? What is the unemployment rate according to the BLS?
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