User Account

All Pages

Graph the excess supply function

Assignment Help Microeconomics
Reference no: EM13877161

Assume the following market demand and supply functions

P + 25

Qd = 1000 P2 + 5

Qs = 100 P0.4

(a) Graph the excess supply function.

(b) Use the Taylor expansion of the excess supply function and find the first degree approximation for the market equilibrium price and quantity.

(c) Write the linear expansion of the demand and supply functions separately and then solve the linear system for the market equilibrium price and quantity. Compare your results with those from part (b).

Reference no: EM13877161

Questions Cloud

Activities and initiatives of unilever sustainability effort : Develop a 500 word, double-spaced essay in which you provide an overview of the activities and initiatives of Unilever's sustainability efforts. Write this report as if you are providing information to a task force within a second company interes..
Calculate the number of free electrons per cubic : (a) Calculate the number of free electrons per cubic meter for gold assuming that there are 1.5 free electrons per gold atom. The electrical conductivity and density for Au are 4.3 x 107 (-m)-1 and 19.32 g/cm3, respectively.
Agrees to devote knowledge and skill to the business : Assume that partner, Rev. Lovejoy, makes a capital contribution of $12,000, partner, Ned Flanders, makes a contribution of $6,500 and services, and partner, Seymour Skinner, makes no monetary contribution, but agrees to devote knowledge and skill to ..
What would probably be the outcome of his case : What would probably be the outcome of his case and Find out what it was: Reuland v. Hynes 460 F3d 409 (2d Cir. 2006).
Graph the excess supply function : Assume the following market demand and supply functions P + 25 Qd = 1000 P2 + 5 Qs = 100 P0.4- Graph the excess supply function.
Calculate the heat loss per hour : What will be the heat loss per hour if soda-lime glass instead of steel is used? Calculate the heat loss per hour if steel is used and the thickness is increased to 20 mm (0.79 in.).
What form of business organization : INSTRUCTIONS The final examination consists of 4 essay questions; each question is worth 25 points. Each question and any subparts of the question must be answered. The final should be 6-8 pages, double spaced and only 1 inch margins, please. The ans..
Business valuation and financial analysis on myer holdings : Write a 3000 words Business valuation and financial analysis on Myer holdings Ltd.General economic environment of organistion.
Graph the functions : Assume the following market demand and supply functions Qd = 100 - 5P0.7 Qs = (2 P - 10)1.1 - Graph the functions.

Reviews

Write a Review

Microeconomics Questions & Answers

  The former ibm chairman louis gerstner''s comment

Relate to the former IBM chairman Louis Gerstner's comment "all about cycle time, speed, globalization, enhanced productivity, reaching new customers, and sharing knowledge across institutions for competitive advantage." Can you relate what you have ..

  Hypothetical situation

Create a formal, written contract based on the hypothetical situation - Besides including the above list and the standard elements of a contract, you are to also include the following clauses into your formal,

  What happens to the marginal rate of substitution as you

What happens to the marginal rate of substitution as you move along a convex indifference curve? A linear indifference curve?

  Generic supply and demand curves

If society is producing a combination of goods on its production possibilities frontier - Suppose you can write generic supply and demand curves such that QS= A + BP and QD= D + CP. Equilibrium price is given by

  Write out a regression with quarter dummies

Write out a regression with quarter dummies (use summation notation to be compact). How is this same as a time fixed effects regression? Write out a regression equation with a variable “time,” which takes on the value 1 at the beginning of the sample..

  Write down effects of international trade to gdp domestic

assume that you have been appointed as the speaker of the house. you must deliver a speech about the current state of

  Why are trade agreements significant for various countries

why are trade agreements important for the various countries involved? how is international trade related to the u.s.

  What effect mtv has on international relationships

What effect MTV has on international relationships? (for ex: MTV in Africa)

  Create a 95 confidence interval for population proportion

you are told that a random sample of 150 people from iowa has been given cholesterol tests and 60 of these people had

  How can two countries both be better off as result of trade

how can two countries both be better off as a result of trade? how can tariffs protect u.s. jobs? do tariffs lead to a

  Relationship between self-regulation and positive outcomes

Explain the relationship between self-regulation and positive outcomes and identify practices that contribute to children's stereotyped gender behavior and strategies in order to address stereotypical behaviors

  Relate the law of conservation of matter and energy

Relate the law of conservation of matter and energy to the air pollution problem; and

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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