How would you describe this situation and what would you

Assignment Help Microeconomics
Reference no: EM13337811

If the current price of the product is $150, what is the quantity supplied and the quantity demanded? How would you describe this situation and what would you expect to happen in this Market?

Reference no: EM13337811

Questions Cloud

What would japan output per capita have been at the end : At the end of 1973 Japan had a per capita real output of $14,379. If, on average, Japan’s real per capita output grew at a rate of 3 percent per year between 1973 and 1993. What would Japan’s output per capita have been at the end of 1993?
How long would it take for the price level to double if : If the CPI was 110 last year and is 121 this year, what is this year's rate of inflation? What is the "rule of 70"? How long would it take for the price level to double if inflation persisted at (a) 2, (b) 5, and (c) 10 percent per year?
How would a substantial appreciation in the european euro : How would a substantial appreciation in the European euro in the foreign exchange market affect the quantity of imports of European products by the U.S.? How would such an appreciation of the European euro affect travel by Americans to Europe?
How large a tax cut would be needed to achieve this same : Assume that a hypothetical economy with an MPC of .7 is experiencing severe recession. By how much would government spending have to increase to shift the aggregate demand curve rightward by $30 billion?
How would you describe this situation and what would you : If the current price of the product is $150, what is the quantity supplied and the quantity demanded? How would you describe this situation and what would you expect to happen in this Market?
What is the point price elasticity of demand at this price : Suppose that the demand for gasoline is given as P = 3.6-0.002Q where P is the price of gasoline in $ per litre and Q is liters of gasoline per day. If you know that current price of gasoline is $1.3,
Does the production function exhibits increasing returns to : Suppose the production function is C = L(0.5) x M(0.75), does the production function exhibits increasing returns to scale, decreasing returns to scale or constant returns to scale? Explain your answer.
Net taxes affect consumption via disposable income : Net taxes affect consumption via disposable income. Do you think that net taxes could affect any of the other components of aggregate expenditures? If yes, explain how.
What is the cost of producing 10 units in the short run : Currently, K = 100. What is the cost of producing 10 units in the short run? Hint: first determine how much labor is needed.

Reviews

Write a Review

Microeconomics Questions & Answers

  Analysis of american public education

Require some good concepts on a solution to the following situations. How can we pay for this solution? Cuts in present programs or new taxes?

  Write a letter to pamela summarizing the changes to stock

Pamela Burns is a 40% shareholder in Rubio Corporation. She is aware of the tax consequences of the various items listed on the Schedule K-1 (Form 1120S) she received,

  What does the anticipated adjustment process imply

Below is the entire assignment. I have most of the answers but I do not know how to respond to the final question in the first part "What does your anticipated adjustment process imply about the CR for the industry

  Question based on local currencies

About thirty United States localities circulate their own currency with names like "Ithaca Hours" and Dillo Hours." Doing so is perfectly legal although through law they are subject to a 10% federal tax, which currently the government is not collecti..

  What are the consequences for farm output

What are the consequences for farm output as a result of this guaranteed price and what does the term "equilibrium" mean in the context of a market economy?

  How best these recommendations can be implemented

the concept of Social Security as originally envisioned by President Roosevelt; the viability of Social Security within the next 20-30 years; and 2-3 recommendations that would improve the viability of Social Security for the next generation.

  Find the equilibrium price - quantity and revenue

Find the equilibrium price, quantity and revenue in a market characterized and Find Betty's opportunity cost of a bottle of wine in terms of box(es) of chocolates.

  Confirm quantity and price results algebraically

Confirm your quantity and price results algebraically and calculate the price elasticities of demand in each market and discuss these in relation to the prices to be charged in each market.

  Question on inelastic demand

Changes in price do not always impact demand to the same degree, and in some cases change in price impact demand very little. Such goods are said to have relatively inelastic demand.

  Necessarily increase with increase in output

If there are diminishing returns to the variable input, will average variable cost necessarily increase with increase in output?

  What is the maximum loan that the bank could extend

Suppose that the reserve requirement is 10 percent and the balance sheet of the People's National Bank looks like the accompanying example. • What are the required reserves of People's National Bank  Does the bank have any excess reserves

  Why did the global economy fail to self-adjust

Why did the global economy fail to self-adjust during the Great Depression Specifically, why didn't sales and employment respond to the declining prices and wages as classical economists would predict

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd