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You're given the following demand and supply tables: a. Calculate market demand and market supply. P D1 D2 D3 DMarket $30 20 5 10 40 15 3 7 50 10 0 5 60 5 0 0 P S1 S2 S3 SMarket $30 0 4 11 40 0 8 17 50 10 12 18 60 10 15 20 b. Draw the market demand and market supply curves and label equilibrium price and quantity. Instructions: (1) Use the tools provided 'DMkt' and 'SMkt' to draw the market demand and supply curves. Plot these curves for the prices given in the tables above (4 points for each curve). (2) Use the point tool provided 'Pt. A' to identify the equilibrium price and quantity. c. At a price of $30, is . At a price of $60, is .
Find an example of a merger that has been in the news within the past 6 months. What is the economic justification for the merger? Are there any antitrust concerns with the merger? Is there a role for government in regulating this merger?
q1. the supply side economics of the regan administration 1981-1988 presumed that income tax cuts would stimulate
Gordon also works 5 hours a week for the economics department to maintain that departments web page. Illustrate the economics department pays gordon $20 per hour.
Mary consumes two goods, Diet Coke (X) and Cheeseburgers (Y). Mary’s Utility function is represented by U(X,Y) = 3XY2 . Her marginal utility function for X is MUx = 3Y2 . Her marginal utility function for MUy = 6XY.Write an expression for Mary’s budg..
Given these market characteristics, what is the Lerner Index equal to (as a function of quantity)?
In December 1994 a man in Ohio decided to deposit all of the 8 million pennies he’d been saving for nearly 65 years. (His deposit weighed over 48,000 pounds!) With a reserve requirement of 10 percent, what will be the cumulative change for the bankin..
As Bavarian Crystal Works is only one for many crystal producers in the world market, it can wholesale as many of the decanters as it wishes for $50 apiece.
A substitute good is a determinant of supply. Government actions, such as price floors and ceilings, can actually reduce employment and raise market inefficiency. In the circular flow model, firms own economic resources, and households buy the manufa..
You have just started a new job and one of the fringe benefits is a company contribution of $5,000 every year into a retirement savings account. Assuming the contribution amounts remain unchanged and that the account earns an average of 8% per year, ..
Assume a fixed cost for a process of $15k. The variable cost to produce each unit of product is $10 and the selling price for the finished product is $25. which of the following is the number of units that has to be produced and sold to break-even..
Find out the equilibrium price and quantity that will prevail in the market. At a price of $10, would there be a surplus or shortage.
Describe whether each of the following is an example of adverse selection or moral hazard, and why.
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