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Q1. Illustrate what will happen to the equilibrium quantity also price of a product in a competitive marketplace when the increase in demand exactly offsets the decrease in supply?
Q2. suppose that 2 airlines are Cournot duopolists serve the Peoria-Dubuque route also the demand curve for tickets every day is Q = 220 - 2p (so p = 110 - Q/2 ). Total costs of running a flight on this route are 1,400 + 20q, where q is the number of passengers on the flight. Every flight has a capacity of 80 passengers. In Cournot equilibrium, every duopolist will run one flight every day also will make a daily profit of: a)$400 b)$800 c)$220 d)$700 e)$3000.
Assume a hypothetical economy in which the velocity is constant at 2 and real GDP is always at a constant potential of $4,000. Suppose the money supply is $1,000 in the first
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What occurs to price and quantity when supply decreases and demand is perfectly elastic. What occurs to price and quantity when supply increases and demand is perfectly inelas
In 2006, Willem de Kooning's abstract painting Woman III sold for $137.5 million. Portray this sale in a demand and supply diagram when the quantity is 1. Instructions: (1) Us
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Everything else equal, when the market supply curve shifts inward, consumer surplus. Everything else equal, given an upward sloping supply curve, if the market demand curve we
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