What are the price and quantity at the new equilibrium

Assignment Help Macroeconomics
Reference no: EM131239587

The following table depicts the weekly demand and supply of office visits at a local children's clinic staffed by four physicians.

Price per visit

Quantity demanded

Quantity supplied

$20

300

150

25

275

175

30

250

200

35

225

225

40

200

250

45

175

275

50

150

300

If one of the physicians moves to another city, reducing quantity supplied by 25 percent, what are the price and quantity at the new equilibrium?

Reference no: EM131239587

Questions Cloud

What minimum requirement location quotients : The nation of Erehwon has three industries: manufacturing, agriculture and services. Each national industry has 50 million workers. Regional Consultants, Inc. (RCI) is doing an economic base study of the metropolis of Centralia, a metropolitan region..
Calculate current estimate of the covariance between assets : Suppose that the daily volatilities of asset A and asset B, calculated at the close of trading yesterday, are 1.6% and 2.5%, respectively. - Calculate the current estimate of the covariance between the assets.
Draw a class diagram and showing the relevant classes : A company has a number of employees. The attributes of Employee include employeeID (primary key), name, address, and birth date. The company also has several projects. Attributes of Project include projectName and startDate. Each employee may be a..
Count the number of vertices edges and faces : xplain why every planar drawing of a graph has the same number of faces.
What are the price and quantity at the new equilibrium : If one of the physicians moves to another city, reducing quantity supplied by 25 percent, what are the price and quantity at the new equilibrium?
What is the long run average volatility : What is the long-run average volatility and what is the equation describing the way that the variance rate reverts to its long-run average?
How is the correlation estimate updated : Suppose that the current daily volatilities of asset X and asset Y are 1.0% and 1.2%, respectively. - If the prices of the two assets at close of trading today are $31 and $51, how is the correlation estimate updated?
Find two different planar drawings of the left-hand graph : Find two different planar drawings of the left-hand graph of Figure 11.2, each of which has exterior face of size 3. How many faces, total, does each drawing have?
Basic ideas and knowledge of business : From personal perspectives (such as why i choose this major in the university: this major includes all the basic ideas and knowledge of business;/want to understand market and trade;/ then have or start my own business such as a coffee bar )

Reviews

Write a Review

Macroeconomics Questions & Answers

  What are the current assets

Its fixed assets are $21,300. How much cash does the company have? If the current liabilities are $2,575, what are the current assets?

  Economy aggregate supply and demand

Assume that the following information about the economy is correct. The potential GDP is 3 percent. Real GDP has fallen at a minus two percent rate in the last 12 months.

  Consuming the next unit of a good

Define what is The gratification received from the consuming the next unit of a good?

  What is the marginal product of the variable input

What is the marginal product of the variable input and Given the short-run equilibrium price of output, pe, is this firm producing in the short-run?

  Why can not one nation have a comparative advantage

Why can not one nation have a comparative advantage over another country in the production of everything if the first country has excellent natural resources

  What is mpc and mps

Government initally increased spending from 50 million to 100million . Household responded by increasing spending from 20 million to60 millio

  In spite of this potential impact on future growth

In spite of this potential impact on future growth (discussed in question 2), under what circumstances be a good idea to increase government borrowing? Justify. {Note: This is obviously your opinion—just be sure to back up your opinion.}

  Elucidate the impact of an increase in production technolog

In the Keynesian, Classical, as well as Solow model, Elucidate the impact of an increase in production technology

  Predict what would have occurred had the monopoly succeeded

Identify a situation in the past 50 years in which the government used antitrust policies to stop a monopoly from occurring. Include the circumstances of the proposed monopoly and the reason the government stepped in.

  Assume that the market demand for broccoli

Assume that the market demand for broccoli is given by Q=1000-5P and the market supply of broccoli is given by Q=4P-80 where Q is quantity per year measured in hundreds of bushels an P is price in dollars per hundred bushels.

  Would each of the following groups be happy or unhappy if

would each of the following groups be happy or unhappy if the u.s. dollar appreciated? explain. problems and

  What happens toequilibrium wages explain using appropriate

Imagine a firm that hires two types of workers – some withcomputer skills and some without. If technology advances so thatcomputers become more useful to the firm, What happens toequilibrium wages? Explain, using appropriate diagrams.

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!

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