What happens on the demand curve when the price rises

Assignment Help Econometrics
Reference no: EM13189379

A demand curve is given by QD = 600 ? 20P. Draw the demand curve. You don't have to draw to scale. Clearly show what happens on this demand curve when the price rises from $6 to $8. Label all appropriate points, as well as numerical values for prices and quantities. Include arrows to clarify.

Reference no: EM13189379

Questions Cloud

Does longland experience diminishing returns : For three years, there was no technological change in Longland but capital per hour of labor increased from $10 to $20 to $30 and real GDP per hour of labor increased from $3.80 to $5.70 to $7.13. Then, in the fourth year, capital per hour of labo..
Identify the central reason they reach such strikingly : different end points in their vision about the economy-Smith claims we end, as Heilbroner puts it, in "Vahalla" while Ricardo claims we end a relatively dismal steady state. In your thought paper, explore why they reach these strikingly different ..
What is the quadratic formula : From the concepts in the readings from Week Three, provide at least one real-world application of algebraic concepts as they would apply to one of the following areas: business, health and wellness, science, geometry or other math concepts, sports..
What are input and‘output tax accounts in sap : Explain the ‘Document Principle' as used in SAP. What information is presented in the ‘header' section of a document versus the ‘line item' section?
What happens on the demand curve when the price rises : A demand curve is given by QD = 600  20P. Draw the demand curve. You don't have to draw to scale. Clearly show what happens on this demand curve when the price rises from $6 to $8. Label all appropriate points, as well as numerical values for pric..
How many cartons were left over : Juan's first-grade class received 82 half-pint cartons of milk to distribute evenly to his 22 students. How many cartons were left over?
What are the dimensions of the corral of maximum area : a rancher wishes to enclose a rectangular corral with 320 feet of fencing. the fencing only required 3 sides because of an existing wall. what are the dimensions of the corral of maximum area?
Compute a consumer price index for apples for each year : Abby consumes only apples. In year 1, red apples cost 1$ each, green apples 2$ each, and Abby buys ten red apples. In year 2, red apples cost $2, green apples cost $1, and Abby buys 10 green apples.
What was the amount of each loan : Cole's student loans totaled $31,000. One of his loans was at 2.8% simple interest and the other at 4.5%. After one year, Cole owed $1024.40 in interest. What was the amount of each loan.

Reviews

Write a Review

Econometrics Questions & Answers

  How many units should each plant produce

A perfectly competitive firm faces a market price of $10 for its output X. It owns two plants, A and B, whose total costs are TCA = 10+2X+.25X2,TCB = 15+.4X+.1X2. How many units should each plant produce to maximize profit at that price

  Determine the fixed principal amount

Suppose our business plans to take out a 5-year loan for $100,000. The after-tax MARR is 10%, the tax rate is 40%, and the loan interest rate is 15%. Rank the following loan options using present worth analysis: Method 1: Balloon loan (pay only in..

  Effects of an efficient economy

When a recession is over, do people start to immediately feel affects of an efficient economy? Use the experience of most recent recession to justify your answer.

  What is the efficient quantity of sandwiches?

If Sandwiches To Go Inc. buys all the sandwich producers and cuts production to 100 sandwiches an hour, what is the deadweight loss that is created?e. If in part d, Sandwiches To Go Inc. rations sandwiches to two per person, is this distribution of..

  What price should the firm charge in the short run

A firm sells its product in a perfectly competitive market where other firms charge a price of $130 per unit. The firm's total costs are C(Q) = 40 + 10Q + 2Q2. a. How much output should the firm produce in the short run?units

  How the fed manipulates the federal funds rate

Reserve requirement for banks is set at 5%. Your firm withdraws $42,000 on its line of credit at the Security Bank to purchase equipment for expansion. The equipment vendor deposits the amount that he receives from you at his bank, The Highland Ba..

  What is the size of the labor force

Suppose the number of employed people in an economy is 121,166,640. The unemployment rate in this economy is 10.4 percent, or .104, and the labor force participation rate is 72.5 percent, or .725. a. What is the size of the labor force

  Determine the total quantity of monthly accounts

In a local market, the monthly price of internet access service decreases from $30 to $20, and the total quantity of monthly accounts across all internet access providers increases from 90,000 to 190,000.

  Determine the company and the market index

Period company return market index return, Determine the company and the market index and show the calculations.

  What is the necessary levels of high powered money

Suppose the ratio of deposits that banks hold in the form of reserves is 7 percent. Suppose further that people want to hold 8 percent of their deposits in the form of cash. Then if the fed wants the money supply to be $6,228 billion, what is the ..

  Salary of manager in competing firms

You are attending the yearly shareholder's meeting of PIC firm. A fellow stockholder points out that manager of PIC received $100,000 last year, while the manager of a rival company, CUP Enterprises, earned only $50,000.

  What happened to the quantity of cups o soup consumed

Suppose the price of a Cup O' Soup now rises to $2. Using your diagram from part (a), show the consequences of this change in price. Assume that our student now spends only 30 percent of his income on dining hall meals. Label the new optimum as po..

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