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Assume the following information for the demand and supply schedules for Good Z.
a. Draw the corresponding supply and demand curves.
b. What is the equilibrium price per unit and quantity traded?
c. If the price was $9, would there be a shortage or a surplus? How large?
d. If the price was $3, would there be a shortage or a surplus? How large?
e. If the demand for Z increased by 15 units at every price, what would be the new equilibrium price and quantity traded?
f. Given the original demand for Z, if the supply of Z was increased by 15 units at every price, what would be the new equilibrium price and quantity traded?
The built-up timber beam is subjected to a 1500-lb vertical shear. Knowing that the longitudinal spacing of the nails is s = 2.5 in. and that each nail is 3.5 in. long, determine the shearing force in each nail
Newton exports all their products outside the city and Garfield only sells their products within the city. Newton experiences growth, so it hires 100 more workers, all of whom come to reside in city A.
In particular, assess whether, in your view, its continued funding is critical to the country in light of the federal debt, redundancies, free market alternatives &, especially whether its actual existence is consistent with the purpose of governm..
A driver faces a 5% probability that his car will be in an accident and will be worth nothing. Consider three drivers with cars that have value $30,000. Abdulla's utility function over the value of his car W is u(W) = ln(1 + W).
Then plot the graph of the function and determine if it displays increasing, constant or decreasing marginal utility.
What should they do instead if they are unwilling to use a parametric test? (Note: The distance was greater with a lower ceiling, which suggests that interpersonal space is not dependent on just horizontal distance.)
What is the Stackelberg equilibrium when Firm 1 moves first?
Suppose you own a movie theater and most of your costs (the band, security, the land rental, etc.) are independent of how many people show up. What is likely to be the point elasticity of demand at the price you decide to charge
The following is data from 2010 for the tiny island nation of Papaya: money supply = 600 million; price level = 2.5; velocity of money = 4. Use the quantity theory of money to answer the following questions.
The California Instruments Corporation, a producer of electronic Equipment, makes pocket calculators in a plant that is run autonomously. The plant has a capacity output of 200,000 calculators per year, and the plant's manager regards 75 percent
Can you conclude that measurements made on the base metal are more variable than measurements made on the weld?
What is the optimal level of pollution P = 2P + P^2 => MC = 2 + 2P CC = 5 - 3P => MC = -3 to find the optimal level of pollution as recommended, we need to set total marginal cost = 0, then I have 2 + 2P -3 = 0 => 2P -1 = 0 => P = 0.5 You have alread..
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