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1. A demand curve and supply curve are given respectively as follows: QD = 97 ? 4P QS = 1 + 2P
Draw both the demand and supply curves, and clearly label the equilibrium as well as numerical values for the equilibrium price and quantity.
2. A demand curve and supply curve for lawnmowers are given respectively as follows: QD = 72 ? 2P + 2MQS = 2P
Where M represents consumer income. Suppose that last year, consumer income was M = $150.
Find the equilibrium price and quantity of lawnmowers at that income level. In addition, suppose that this year, consumer income is M = $200. Find the equilibrium price and quantity of lawnmowers at this new income level. Draw the graph of both the demand and supply curves before and after the change in income. Clearly label any shifts or movements, as well as all curves and equilibrium points as well as numerical values for the equilibrium prices and quantities.
The City Council in Bigtown is considering removing the monopoly rights of Bigtown Cable TV, Inc. Bigtown Cable is arguing that the competition in the cable TV market will be chaotic and result in a loss of jobs. As the staff economist for the City C..
With the rise of the Video on Demand market, which threat is likely to have the least impact on Netflix’s streaming service business?
1. Due to the recession that lowered income, the market price of good X got lower. For good X, we assume that Qd(P) = 100 - P + Y/20, and Qs(P) = 2P - Y/20, where Y is the income, and P is the price of good X. Derive the equilibrium price P* in terms..
Explain how a clear and simple Policy Targets Agreement (PTA) might have helped to maintain a low inflation regime with low unemployment in the 1990s while in 2012 a similar regime no longer seems to be achievable under a very different PTA.
Using the product-service identified in Week 4 and the Situation Analysis prepared in Week 5, you will now prepare the Marketing Plan’s Marketing Strategy, At a minimum, the Marketing Strategy must include the following sections (complete), correctly..
if la jolla could obtain additional of the white wine, should they do so. if so how much should they be willing to pay for each additional gallon and how many additional gallons would they want to purchased
If the government imposes a tax of $.25 on each papaya produced, will this cause a change in supply or quantity supplied?
In each case, indicate whether the statement as given is true/false/uncertain and explain why. Points will be given for the explanation of your answer only. Write your answers as completely as possible. If a polluting firm (for example, a steel produ..
Suppose a consumer’s preferences over goods 1 and 2 are represented by the utility function u(x, y) = (x+ y)^3. Draw an indifference curve for this consumer and indicate its slope.
Illustrate what is an opportunity cost. Elucidate how does the idea relate to the definition of economics.
q1. compute the elasticity of demand for fords automobiles or choose a specific make model and interpret what the
Joe notices that prices have gone up for the custom bikes he sells - but fails to notice that the price of everything else is rising too because of general inflation. This is described by the _______________ model, which explains how output _________..
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