What is the equilibrium price and quantity in this market

Assignment Help Operation Management
Reference no: EM13229808

the widget market is competitive and includes no transaction costs. Five suppliers are willing to sell at the following prices: $30, $29, $20, $16, and $12. Five buyers are willing to buy one widget at the following prices: $10, $12, $20,$24, and $29. What is the equilibrium price and quantity in this market?

Reference no: EM13229808

Questions Cloud

Find new corrected power factor after installing shunt capa : A 2.4KV, single-phase circuit suppllies a load of 250KW at a lagging power factor, and the load current is 160A. If it is necessary to improve the power factor, determine the following: (a)The uncorrected poer factor and reactive load.
What is the probability that rich will go to each store : Three stores in the vicinity sell earplugs: EarsPlus, 10 minutes away; ICantBelieveYouBoughtHeraTrombone, 15 minutes away; and KidNoise, 20 minutes away. According to the gravity model, what is the probability that Rich will go to each store?
Determine total complex power absorbed by wye-connected load : A tree-phase, 60Hz, 5MVA synchronous generator has balanced line-to-line voltages of 8320V at its terminals. if the generator is supplying power to delta-connected, balanced load of 5MVA at a 0.8 lagging power factor
Develop your understanding of the kinds of bizarre problems : Develop your understanding of the kinds of bizarre problems a system administrator will have to handle. The first part depicts an organization in a bad state. Your job is to devise a scheme to fix it.
What is the equilibrium price and quantity in this market : What is the equilibrium price and quantity in this market?
Define enzyme d-amino acids oxidase has a very high turnover : The enzyme D-amino acids oxidase has a very high turnover number because the D-amino acids are potentially toxic. The Km for the enzyme is in the range of 1 to 2 mM for the aromatic amino acids and in the range of 15 to 20 mM for such amino acids ..
What is the probability that rich will go to each store : EarsPlus, 10 minutes away; ICantBelieveYouBoughtHeraTrombone, 15 minutes away; and KidNoise, 20 minutes away. According to the gravity model, what is the probability that Rich will go to each store?
What is the economic justification for the rapid growth : What is the economic justification for the rapid growth of premium package services.
Determine the line current in balanced three-phase load : if a balanced, three-phase, 15MW total load is fed by a 138Kv power line at a 0.85 lagging power factor, determine the following. (a) The line current (b) The value of the capacitor in uf per phase, is a wye-connected capacitor bank is used to cor..

Reviews

Write a Review

Operation Management Questions & Answers

  Question about partnership tax returns

Malcolm Fox and Rhonda Ford are equal partners in MFRF LLP, a small business consulting firm. The partners are not related and are all U.S. citizens.

  Explain how many pins should you buy also have on hand

Explain how many pins should you buy also have on hand for the event. Does the decision change if you exchange the probabilities for 400 also 500. If so, illustrate what is the change.

  Why are so many companies using degree feedback systems

Why are so many companies using 360 degree feedback systems? Illustrate what are benefits also disadvantages of this. Why should managers provide ongoing also frequent feedback to employees about their performance.

  The average time a car is in the system

Automobiles arrive at the drive through window at the downtown Urbana, Illinois post office at the rate of 4 every ten minutes. The average service time is 2.0 minutes.

  Formulate the problem as a linear programming model

Formulate the problem as a linear programming model (i.e. define the variables, and write down the objective function and all constraints in algebraic form).

  Illustrate what you do if you believe that ethical behaviour

Illustrate what do you do if you believe that ethical behaviour requires you to maximize Jay-Mart's profits.

  Model that shows most important steps in selection process

As the HR manager, the CEO has asked you to create a staffing plan to bring in talented job candidates who can help get the company back on a growth trajectory.

  Calculate the costs associated with level production

Henderson Furniture sells reproductions of 18th century furniture. For a particular table, the following information is valid. Month.

  Find the optimal solution to minimizing the total cost

There is no overtime, no subcontract and no idle time. Please find the optimal solution to minimizing the total cost.

  How many drivers can be processed in one hour

How many drivers can be processed in one hour if the clerks and typists work at 80 percent utilization rate?

  Question on value of operations

Leak Inc. forecasts the free cash flows (in millions) shown below. Assume that the ROIC is expected to remain constant in Year 2 and beyond (and do not make any half-year adjustments).

  Discussion on motivational theories

You are a manager of a Consulting firm, with 25 employees under your supervision. Employee Motivation appears to be slipping as well as employee performance.

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