Equilibrium quantity price and quantity, Macroeconomics

Over the past few years there has been much concern about falling housing prices, and some policy makers have argued that the government should put a floor under prices so that they stop falling.
Suppose that in a given community, the supply and demand of housing are given by the following equations:
S= 100P - 100
D = -50P + 1400,
where S is quantity supplied (in thousands), D is quantity demanded (in thousands), and P is the price per home (in tens of thousands).
Suppose that the price is currently 15. In what direction would you expect prices to be moving?
What are the equilibrium price and quantity? How much money would be spent on housing in this community in equilibrium? (Employ your diagram to help you think about the problem, but use algebra to get your answer.)

Posted Date: 2/4/2014 3:04:43 AM | Location : United States

Related Discussions:- Equilibrium quantity price and quantity, Assignment Help, Ask Question on Equilibrium quantity price and quantity, Get Answer, Expert's Help, Equilibrium quantity price and quantity Discussions

Write discussion on Equilibrium quantity price and quantity
Your posts are moderated
Related Questions
Question 1: (a) Outline the three main methods of recruitment. (b) Discuss the advantages & disadvantages of any one method mentioned above.

discuss the different of cost?draw the cost curves

Hi, I need help with my Aplia macroeconomics problem sets.

Good X is produced in a competitive market using input A. Explain what would happen to the supply of good X in each of the following situations. The price of input A decreases.

Hello, how to cure inflation, particularly addressing rising food prices thanks Gedanken

Granting a loan: When commercial banks lend, they create money. This can be explained by extending the hypothetical example of Bank

Suppose the demand for loanable funds was stable but the supply fluctuated from year to year. what cause fluctuate in supply?

Compare Money with wealth and income Money isn't the same as wealth. An individual may be very wealthy however have no money (for instance by owning stocks and real estate). An

Over the last year both the supply and demand for oil in the US has gone up. What might have caused this and what happened to the price and quantity of oil?

Joe has preferences over pizza (p) and beer (b) given by U = pb. The marginal utilities are MU p = b and MU b = p, and Joe's income is I = 60. 1. Find Joe's optimal consumptio