Demand function in a competitive market

Assignment Help Business Economics
Reference no: EM13896619

Suppose that the demand function in a competitive market is given by D=100-1/2P. Sketch the demand curve on the price-quantity plane, using axes labels commonly adopted in economics. Use definite integrals to find the consumer surplus when the market price is 100.

Reference no: EM13896619

Questions Cloud

Peanut butter and jelly : Peanut butter and jelly are:
Suppose the mpc in an economy : Suppose the mpc in an economy is .85 the apc is .09 and disposable income if 5 billion. What is the new consumption level when disposable income increases to 12 billion?
Demand for money depends positively on real income : If the demand for money depends positively on real income and depends inversely on the nominal interest rate, what will happen to the price level today, if the central bank announces (and people believe) that it will decrease the money growth rate in..
Savings account at beginning of the year price level : Assume you have 4000 in a savings account at the beginning of the year price level is 100 the account pays 7% interest annually. if the price level is equal to 115 at the end of the year, the real value of your saving is?
Demand function in a competitive market : Suppose that the demand function in a competitive market is given by D=100-1/2P. Sketch the demand curve on the price-quantity plane, using axes labels commonly adopted in economics. Use definite integrals to find the consumer surplus when the market..
What is the firms profit-maximizing quantity : The demand function for a firm’s product is Q = P-3. The firm’s marginal cost of production is constant at MC(Q) = 12. (a) Calculate the elasticity of demand, as a function of Q. what is the firm’s profit-maximizing price? what is the firm’s profit-m..
How much output should be produced in plant : You are the manager of a firm that produces output in 2 plants. The demand function is P = 120 - 6Q where Q = Q1+Q2. MC associated with producing in 2 plants are MC1=2Q1 and MC2=4Q2. How much output should be produced in plant 1 in order to max profi..
What is the present worth-interest rate in the marketplace : What is the present worth of a $50,000 bond that has an interest of 20% per year payable quarterly? The bond matures in 5 years. The interest rate in the marketplace is 10% per year, compounded semiannually.
What is the total principal paid to the lender : BioElectroMechanical Systems (BEMS) is a startup company with high potential and little available cash. They obtain $500,000 for necessary technology from a venture capitalist, who charges them 24% compounding monthly. How much are the monthly paymen..

Reviews

Write a Review

Business Economics Questions & Answers

  Q1 illustrate what are the implications of savings and

q1. illustrate what are the implications of savings and population growth at steady a state in the solows neoclassical

  Estimated using simple linear regression model

Discuss which economic relationships you have studied up until now (not just in this class, but in all your economics classes) could be estimated using the simple linear regression model as well as the information you would need to estimate such a re..

  Sale of used goods do not add to income of a country

Why do sale of used goods do not add to income of a country in a particular year? If you think of income as the inflow in your bank account. All outflows are just expenditures. So I think of income as how much stuff can someone buy in a particulate y..

  Skectch fundamental analysis of the supply and demand curve

Skectch the fundamental analysis of the supply and demand curve for the British pound in terms of dollars. (The quantity of pounds on the horizontal axis and the US dollars per pound on the vertical axis.

  Output in the base year other than real output

If nominal output is $5.28 trillion also the GDP deflator is 20 percent higher than what is the output in the base year other than real output.

  Describe why this does not represent a violation of the law

Describe why this does not represent a violation of the law of demand. Which of the subsequent best explains illustrate what a forward contract.

  Substitution effect of the price change

Neville has demand function q = .02m - 2p, where m is income and p is price. Income is $8,000 and he initially had to pay a price of $40 per bottle of claret. The price of claret rose to $80. The substitution effect of the price change is?

  Predict how your decisions and transactions in the loanable

Supply of Loanable Funds, e.g., your disposable and expected future income. Discuss and predict how your decisions and transactions in the loanable funds market should change.

  Q1 george if purchases 4 sodas at 2 each he can buy 4

q1. george if purchases 4 sodas at 2 each he can buy 4 pretzels at 5 each. this will leave george with 0 dollars and 1

  Illustrate what is the maximum weekly wage

If a competitive firm hires another full-time worker, total output increases from 100 units to 110 units per week. Suppose the market price of output is $25 per unit. Illustrate what is the maximum weekly wage at which the firm would hire that add..

  Discuss at least two pricing strategies

You operate a small but popular and profitable restaurant/bar in a college town. Discuss at least two pricing strategies you can use to increase your revenues and analyze them in terms of their ability to generate additional profits.

  How would you expect to affect the economy wide demend

How would you expect the following to affect the economy wide demand for money? The demand for money represents the desire of households and businesses to hold assets in a form that can be easily exchanged for goods and services.

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!

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