Draw the linear demand curve

Assignment Help Econometrics
Reference no: EM131346867

Every house in a small town has a well that provides water at no cost. However, if the town wants more than 10,000 gallons a day, it has to buy the extra water from firms located outside of the town. The town currently consumes 9,000 gallons per day.

a. Draw the linear demand curve.

b. The firms' supply curve is linear and starts at the origin. Draw the market supply curve, which includes the supply from the town's wells.

c. Show the equilibrium. What is the equilibrium quantity? What is the equilibrium price? Explain.

Reference no: EM131346867

Questions Cloud

How many days must he swim to reach his goal : If his daily caloric intake and energy output are equal before he begins swimming and he does not change his caloric input, how many days must he swim to reach his goal?
Describe the purpose of late policy and academic honesty : Professor Jones does not accept late module assignments because this course already has extra assignment points added into the course. These points have been built into the course in case I am ill, unable to log in, miss the deadline, etc.You pr..
Describe the variety of climate change policies : INTR 6305 Fundamentals of Economics - Analyze market structures and Interpret the interaction between producers and consumers in markets and the efficiency properties of these interactions
Estimate sorensens survival time : Assuming that death occurs when 50.0% of her body weight is lost, estimate Sorensen's survival time, assuming a constant weight-loss rate.
Draw the linear demand curve : Every house in a small town has a well that provides water at no cost. However, if the town wants more than 10,000 gallons a day, it has to buy the extra water from firms located outside of the town. The town currently consumes 9,000 gallons per d..
Compute the payoff to the seller of a call option : A put option gives the owner the right to ________ an asset at a fixed price at some future date. Suppose that a stock sells at a price of $60 on the expiration date. Compute the payoff to the seller of a call option if the option strike price is $20..
Write an essay on early childhood issues : Write an essay on Early Childhood issues. APA referencing. Three discrete short answer summaries and critical analysis for each of the three chosen issues. No less than 600-700 words each.
Is she better off waiting to be rescued with mary anne : When her body fat has been consumed she will die of exhaustion. If she weighs 59.0 kg at the time of the crash, is she better off waiting to be rescued with Mary Anne or climbing down the mountain?
At what price is this comparison being made : Use a supply-and-demand diagram to explain the statement "Talk is cheap because supply exceeds demand." At what price is this comparison being made?

Reviews

Write a Review

Econometrics Questions & Answers

  1 go back to the numerical example with no factor

1. go back to the numerical example with no factor substitution that leads to the production possibility frontier.a.

  What is the depreciated value of the tractor

a farmer buys a new tractor for $146,000 and assumes that it will have a trade-in value of $92,000 after 10 years. the farmer uses a constant rate of depreciation to determine the annual value of the tractor.

  At what pressure will the conversion be spontaneous at 298 k

The predominant form of CaCO3 in nature is calcite. Marine shells are made up of this form of calcium carbonate.

  Draw up the pecunian balance of payments accounts for 2008

Draw up the Pecunian balance of payments accounts for 2008 under the assumption that the event described in (c) occurred in that year.

  What is the cost of producing the 89th item

Let C1x2 = 2x2 + 300x + 50 be the cost of producing x items. What is the cost of producing the 89th item? Give both the exact and approximate answers.

  Determine what is the deadweight loss of economy

Assume that instead the market is monopolized and the monopolist's marginal cost function is 2+Q. Calculate the consumer and producer surplus. How much has the producer gained versus the competitive example in part 1.

  Determine which variables in your list are stocks

(The Human Body and the U.S. Economy) Based on your own experiences, extend the list of analogies between the human body and the economy as outlined in this chapter. Then, determine which variables in your list are stocks and which are flows.

  What is the equivalent annual worth of such an undertaking

The cost of capturing and storing all CO2 produced by coal-fired electricity generating plants during the next 200 years has been  estimated to be $1.8 trillion. At an interest rate of 10% per year compounded monthly

  Explain the patterns of these variables

Show how other variables (output, consumption, the real interest rate) behave along the transition path. Explain the patterns of these variables.

  What is the probability that at the end of the four exchange

What is the probability that at the end of the four exchanges all the balls will be in the jar where they started?

  What is the minimum level of s that will achieve separation

Suppose that the signal is no longer available. Which kinds of job will be filled by which types of workers, and at what wages? Who gains and who loses?

  Describe the shape of the distribution

A dendritic tree is a branched structure that emanates from the body of a nerve cell. As part of a study of brain development, 36 nerve cells were taken from the brains of newborn guinea pigs.

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