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In a competitive market, the market demand is Qd = 400 - 5P and the market supply is Qs = 10P - 80. A price ceiling of $32 will result ina. a shortage of 80 unitsb. a shortage of 44 unitsc. a surplus of 26 units
d. neither a shortage nor a surplus
Determine what do the laws of supply and demand forecast would be the result of an immediate removal of rent control in terms of price of rental housing and quantity available?
Immediately after the second payment, the terms of the agreement are changed to allow the balance due to be paid off in a single payment the next year. What is the final single payment? (final answer should be $7778).
Your team is a consulting group that has been contracted by Toyota Corporation.
How much would each farmer produce in the long run? How many farmers would exist in the industry in the long run and
Most countries, including the united states, import substantial amounts of goods and services from other countries. a nation can enjoy a high standard of living only if it can produce a large quantity of goods and services itself.
engineers at a national research laboratory built a prototype automobile that could be driven 180 miles on a single
1. a profit maximizing firm in perfect competition produces no dead weight loss but a profit maximizing firm in a
It is 1932 and you are an economic advisor to President Roosevelt. what advice would you give the president in light of the economic problems facing the country?
The nation of Ectenia has 20 competitive apple orchards, which sell apples at the world price of $2. The following equations describe the production function and the marginal product of labor in each orchard:
assume preferences can be represented by the following utility functionux1 x2 x1 x22a. is the utility function
Alan Greenspan,chairman of the fed ,was the leading proponent of the view that it is too difficult , and potentialy too harmfull,topop a bubble by raising interest rates..if bubble emerged, better to quickly lower interest rates to cushion the blo..
Assume that the u.s. has 400 units of K (capital) and 300 units of L (labor) while Mexico has 75 whits of K and 125 units of L. In both countries it takes 3K/L to produce each unit of X but only 2K/L to produce each unit of Y. Which nation has the co..
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