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The equation for the original demand curve is Q=50-6.25P. Find the new demand equation when demand increases by 20% (Round to one decimal place). Q=___ - ___P
The supply curve for the product is Q=-10+12.5P. Find the original equilibrium price and quantity using the above demand curve. P =___ and Q=___.
Find the new equilibrium price and quantity after demand increases 20%. P= ___ Q=___ (Round to 2 decimal places).
Calculate the price elasticity of demand and the price elasticity of supply at the new equilibrium (ie, use demand curve. Price elasticity of demand is _____. Price elasticity of supply is _____.
We can see that aid to Africa has increased significantly over the last 40 years and that incomes in Africa have stagnated. Explain why these two facts do not constitute proof that aid is not effective in increasing incomes in Africa.
When the price of wheat rises from $2.34 to $2.46, some farmers switch crops, and the amount of barley offered on the market falls from 101 million bushels to 99 million. What is the cross elasticity of supply? When the wage rate rose from $6.25 per ..
The demand for 1,000 units of a part to be used at a uniform rate throughout the year may be met by manufacturing. The part can be produced at the rate of 3 per hour in a department that works 1,880 hours per year.
Find out statistics on the web from 2004 to present on following indicators of the macroeconomic conditions of the U.S. economy.
All licensed drivers are required by law to purchase a minimum level of auto and motorcycle insurance (well, if they own either of the two). However, the vast majority choose to buy much more insurance than the required minimum. It’s also true that m..
If the market demand curve is Q = 100-p, what is the market price elasticity of demand? If the supply curve of individual firm is q = p and there are 50 identical firms in the market, draw the residual demand facing any one firm. What is the residual..
Which of the following is a short-run adjustment?
Elucidate how important is a rapidly expanding domestic market in Alibaba.com's strategic assessment
Edmund has the utility function U(x, y) = 2xy + 1. The prices of x and y are both $1 and Edmund has an income of $20. How much of each good will he demand? A tax is placed on x so that it now costs Edmund $2 while his income and the price of y stay t..
What exchange is Netflix listed? What are the listing requirements for that exchange and how does Netflix compare to those requirements?
If hard freeze eliminates Brazil's premium coffee crop, illustrate what will happen to the price of premium coffee.
Solve the firm's short-run cost-minimization when capital is fixed at a quantity of 5 units (i.e. K ? = 5). Derive the equation for the firm's short-run total cost curve as a function of quantity Q and graph it together with the long-run total co..
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