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Suppose that the market of laptops is given by following supply and demand curves given below: Qd = 5000 − 3p Qs = 1000 + p. Answer the following questions on excel sheet using the above demand and supply equations. i) Take the range of values for the price from $1 to $30 and calculate corresponding demand and supply quantities. ii) Using the values computed above plot the graph of demand and supply curves on the same graph. iii) Using the graph above find the market clearing price and quantity for the market of laptops. iv) Compute the point demand and supply elasticity for all the values of demand and supply curve. v) If the price of a laptop is set at $2000 then find the amount of laptops that producers will be willing to supply and amount of laptops consumers will be willing to buy at this price level. Will there be any surplus or shortage created at this price.
Elucidate how an attempt by the government to lower inflation could cause unemployment.
You are given the following information concerning Freedonia, a legendary country, Determine the marginal propensity to consume in Freedonia, and what is the marginal prosperity to save?
For months, beleaguered American customers have defied expert forecasts that they would soon succumb to pressures of falling home prices, fewer jobs and shrinking paychecks.
Life insurance companies require applicants to submit to a physical examination as proof of insurability prior to issuing standard life insurance policies.
Describe the reliability of the forecasts. Illustrate what do you tell him about these forecasts and their accuracy to help him make his decision.
What do you think that they would be able to effectively reflect the true marketplace benefit and price.
Calculate the arc price elasticity of demand over this price and consumption quantity range.
Now assume the government increases spending, reducing the country's savings rate based upon this change. What is the effect on the government spending on the economy.
Assume the corporate income tax were eliminated and revenue lost was made up through rising the payroll tax rate on labor earnings.
Toys unlimited LTD., must predict sales for popular adult computer game to avoid stockouts or excessive inventory charges during the upcoming Christmas season.
Macro-economics is perhaps most divisive area of economics. Macro economists divide themselves into different schools of thought. Two of the biggest camps are the Keynesians and the Monetarists.
Discuss how monetary policy works to help achieve economic goals and discuss how national economies interact with each other to achieve their individual economic goals. (This is a question about foreign trade
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