User Account

All Pages

What is the equilibrium in the intermediate run

Assignment Help Microeconomics
Reference no: EM13871317

(a) In the analysis of the example in section 8.3, we worked through the long-run equilibrium supply curve of pfillip for the case where the price of kapitose depends on kapitose demand by pfillip consumers: The price q of kapitose is K/200, where K is pfillip industry demand for kapitose as a factor of production. Suppose demand for pfillip is given by D(p) = 400 - lOOp. What is the long-run equilibrium? (This should be very easy.)

(b) Suppose demand for pfillip is given by D(p) = 750 - 150p. What is the long-run equilibrium? (You will probably need to resort to numerical calculations, both here and throughout the rest of the problem.)

(c) Suppose demand for kapitose begins at D(p) = 400 - lOOp, and the long-run equilibrium you computed in (a) is reached. Then, suddenly, demand for pfillip changes to D(p) = 750 - lSOp. What is the new short­ run equilibrium, where in the short run firms cannot enter; or leave the industry and cannot change their levels of kapitose utilization. (Once again, this is very easy, given what is in the text.)

(d) Continuing from (c), what is the equilibrium in the intermediate run, where in the intermediate run firms cannot enter or leave the industry but can change their levels of kapitose and legume utilization.

Reference no: EM13871317

Questions Cloud

Differences between an investment trust fund : Identify the major similarities and differences between an Investment Trust Fund and a Private Purpose Trust Fund. Be sure to specify when each is used.
What the causes of racial profiling are : It is commonly agreed that racial profiling exists in some form or fashion in some U.S. law enforcement agencies. Identify what the causes of racial profiling are. Can only Caucasian police officers profile? Explain
Information to make a diagnosis : Do we have enough information to make a diagnosis and What other questions may you want to ask Danny?
What is the mechanism through which public health is affect : What is the mechanism through which public health is affected?
What is the equilibrium in the intermediate run : What is the equilibrium in the intermediate run, where in the intermediate run firms cannot enter or leave the industry but can change their levels of kapitose and legume utilization.
Which operating systems are best for particular hardware : Your task is to explain to her which operating systems are best for particular hardware - Should would like your help installing Windows 8.1 on the new Apple as she really likes the Windows operating system.
The most important document with respect to a private : The most important document with respect to a Private Purpose Trust Fund
Would you ever lie to protect another officer : Because of the high level of trust that police officers must have in one another, would you ever lie to protect another officer who was involved in misconduct
What the long-run industry supply curve for the industry : What the long-run industry supply curve for this industry? Suppose demand is given by D(p) = 400 - lOOp. What is the long-run equilibrium for this industry?

Reviews

Write a Review

Microeconomics Questions & Answers

  What are the ethical and practical considerations

Imagine that your city is planning to build a waste recyclingplant in your neighborhood. What are the ethical and practicalconsiderations for making this decision How would your concern forthe environment affect your view on this action

  Explain how is the economy impacted by trade

What are the advantages and disadvantages of free trade From an economic point of view, is free trade better than limited or no trade Have you benefited from free trade how How is the economy impacted by trade

  Government of a nation established a price support for wheat

In 2011, the government of a nation established a price support for wheat. The government’s support price has been above the equilibrium price each year since, and the government has purchased all wheat over and above the amounts that consumers have ..

  Explain how you would get product to buyers in that same

select a product produced in the u.s. and a foreign country which you are familiar from the e-activity. determine if

  What is the price elasticity of supply for greek yogurt

At the same time, the quantity of Greek yogurt supplied increases from 100,000 lbs to 125,000 lbs. What is the price elasticity of supply for Greek yogurt?

  Why nominal gdp increased faster than real gdp in united

why has nominal gdp increased faster than real gdp in the united states over time? what would it mean if an economy had

  Use a graphical illustration to describe briefly what the

use a graphical illustration to describe briefly what the influence of each of the following would be on the market

  Fnd the current macroeconomic situation in us eg is us

what is the current macroeconomic situation in the u.s. e.g. is the u.s. economy currently concerned about

  Why do investors prefer proprietary deals

Why do investors prefer proprietary deals? Why would an entrepreneur or a seller prefer these deals and what are the key points to include in a pitch to a potential investor?

  Which receives a fee when it directs newly procured organ

If the formerly "free" organ now has a price placed upon it, then that will drive up the total costs for having organ transplants, thus making such operations more expensive and, therefore, out of reach for lower-income people.

  How might the combined carbon tax and dividend scheme change

How might the combined carbon tax and dividend scheme change the household's consumption bundle and its wellbeing relative to the pre-tax situation?

  How does analysis of demand contribute to business decision

How does analysis of demand contribute to business decision making give your answer with reference to the responsibilities of a sales manager?

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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