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In you are given a pair of equations, one representing a supply curve and the other a demand curve, where p is the per unit price for x items. In each exercise
(a) sketch their graphs on the same set of axes,
(b) identify which is the supply and demand curve and the appropriate domain,
(c) determine the coordinates of market equilibrium,
(d) determine the revenue equation and
(e) determine the revenue at market equilibrium
a) What is her willingness to pay b) If she had bought the iPod on sale for $70,what would her consumer surplus have been c) If the price of an iPod were $200,what would her consumer surplus have been
Ten bidders in an oral auction have the following values for an antique clock ($10, $9, $8, $7, $6, $5, $4, $3, $2, $1). If bidders of the $10 and $9 bids collude and bidders of the $3, $4, and $5 bids collude, what will the winning price be?
a manufacturer of small hydraulic turbine has the annual cost data given below. calculate the manufacturing cost and the selling price for turbine. raw material and components cost 2150000 direct labor 950000 direct expense 60000 plant manager and st..
where QI refers to the number of games they would play if the price of a game were PI. Because of their access to credit, they would be willing to pay an up-front fee to join the club. Wizards live from pay check to paycheck and would be willing t..
The economy of Sonrisa has 1000 people in three income categories: poor, middle class, and rich. The poor ear $500 per year and have to spend it all to meet their consumption needs. The middle class earn $2,000 per year, of which $1,500 is spent a..
Where Qx is the quantity demanded of Product X, Px is the price of X, Y is income, and r is the prime interest rate (given in decimals, e.g., 0.02 or 0.05) The standard error of each estimated coefficient is given in parentheses below it. Also, th..
Why do you think this difference may have emerged?
casper consumes cocoa and cheese. cocoa is sold in an unusual way. there is only one supplier and the more cocoa you
What are the short- and long-term volume effects of an exchange depreciation? Does empirical evidence suggest that they are of sufficient size to outweigh price effects and therefore improve the trade balance?
An investor is interested in purchasing a new 20-year government bond carrying a 10 percent annual coupon rate with interest paid twice a year. The bond's current market price is $875 for a $1,000 par value instrument.
What would be the value of the multiplier derived from a naïve regression of consumption on income, and what would be the true value?
Calculate autonomous expenditute. b. Calculate the marginal propensity to consume. c. What is aggregate planned expenditure when real GDP is 200 billion pounds d. If real GDP is 200 billion pounds, what is happening to inventories
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