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The solution to Demand and Supply Curves
Using the following equations Qs = 13,000P and Qd = 48,000-6,000P. Plot the supply and demand curves (need a graph). What is the equilibrium price?
A new hybrid car manufacturer is trying to decide between making and buying its parts and components. it has complied the following data per vehicle produced:percent of Make Buy0% $0 $010% $4300 $340020% $7800 $590030% $11,900 $1020040% $15300 $1240050% $18400 $1540060% $21000 $1810070% $23200 $2150080% $27500 $2390090% $30000 $27400100% $34,000 $33400
Draw a graph and estimate the lowest possible per vehicle cost (to the nearest 5%). Need a graph
Illustrate what is the impact of shifts of the aggregate demand curve on potential output. Illustrate your answers with a diagram.
Suppose the cross price elasticity of demand among peanut butter and grape jelly is negative.
Explain the differences among the long run and short run aggregate supply curves. Consider these differences and explain how an expansionary gap occurs.
What type of market structure is OPEC? What are some important issues that OPEC must confront in their efforts to control the price of oil?
Perfect competition guarantees allocative efficiency. A profit-maximizing monopolist can never be allocatively efficient.
A monopolist faces demand curve p = 11-Q , where Q is measured in thousands of units. Compute the firm's degree of monopoly power using the Lerner index?
Illustrate what is the least-cost input-combination of labor and capital and how much output is produced with that set of resources.
Describe the price and quantity for maximum sales revenue and calculate the maximum revenue. Determine the price and quantity for minimum marginal costs and calculate the minimum marginal cost.
Optimal consumption. The following Table describes the demand for tickets to the opera, during the two=-week season.
What is business cycle? Describe the four phases of the business cycle. Where on the business cycle do you think the U.S. economy is today?
Explain how many popsicles will be sold every day in the short run if the price rises to $2 each. In the long run, if the price rises to $2 each.
Suppose you want to produce WIDGETS in your country. The international price of an imported WIDGET is $50 and pays an import tariff of $10 per unit. Three inputs are needed to produce a WIDGET.
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