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Question about Price of elasticity of demand
Suppose the demand for guitars in state college is given by Qd=8,000-10p where Qd is the quantity dmeanded, and P is the price of quitars. Also, suppose the supply of guitars is given by Qs=30P-2000, where Qs is the quantity supplied of guitars. Calculate the equilibrium price of guitars and the equilibrium quantity of guitars in State College. Also, suppose the actual price of guitars is $500. Determine if there is a shortage, a surplus, or if the market is in equilibrium at a price of $500. Calculate how much the shortage or surplus is if there is any.
How might there be increase in total spending on a child's education in response to providing a fixed level of education?
Apart from the abundance of these resources, you also see a lot of poverty. Can you provide an economic explanation of why poverty exists
Find the velocity given that the market is in equilibrium. MD1 is the relevant curve and it is given that the real GDP is 30,000.
Airway Express has evening flight from Los Angeles to New York with average of 80 passengers and return flight the next afternoon with average of 50 passengers. Should the airline remain in business?
State with brief reasons whether the following statements are true, false, or uncertain.
Consolidated Drugs, Inc. has spent $4 million developing and testing a new anti-aging drug. Management now estimates that it will cost $2 million to produce and market this new product.
Show the effect of moving to a consumption tax on the loan able funds market if people react favourably to the incentive to save. Choose which curve or curves you believe are affected.
The BLS estimates that in 2002, the number of working-age adults was 211.9 million, labour force was 141.8 million, and the total number of employed was 135.1 million. Calculate the following:
What kind of shocks could have caused this change to the money demand function? Determine the new interest rate and equilibrium level of output.
Important information about Equivalent yearly Worth. With an interest rate of 10% per year and given the following estimates, the annual worth of alternative ''F'' is closest to
You're the manager of copies are us. The only copy store in town, the carbon copy, recently got bids on adding a colour copier.
In Bayonne, New Jersey, there is a large beauty salon and a number of smaller ones. The total demand function for hair styling per day is Q=180-10P, where P is in dollars.
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