Amount of the surplus at price

Assignment Help Business Economics
Reference no: EM131877029

Suppose the market is defined by

Demand: Q = 138 - 2P

Supply: Q = 6 + 3P

At a price of P = 40, what is the size of the surplus that will exist in the market?

Type in the amount of the surplus at price P = 40.  Once again, just enter in the number, and do not put in any other text or symbols.

Reference no: EM131877029

Questions Cloud

Field in which commercial crops are grown : Suppose that a railroad runs beside a field in which commercial crops are grown. The railroad is powered by a steam locomotive that spews
Solving the minimum wages problem in america : What are some solutions for solving the minimum wages problem in America?
Why elasticity of substitution : Why elasticity of substitution (between c1 and c2) = 0 indicates that c1 and c2 are perfect compliments?
Discuss the concepts of rogerian therapy : Similar to Freud, Carl Rogers developed his theory from his extensive work with his patients. However, unlike Freud, he believed that people are typically.
Amount of the surplus at price : Type in the amount of the surplus at price P = 40. Once again, just enter in the number, and do not put in any other text or symbols.
Prepare a contribution format income statement : Problem - Simple Rate of Return; Payback. Prepare a contribution format income statement showing the net operating income each year from Mystic Invaders
Potential problem with a temporary tax decrease : Discuss the potential problem with a temporary tax decrease designed to increase aggregate demand if people know that it is temporary?
Trying to control for inflation vs unemployment : Do you think the government, using both fiscal policy and monetary policy, faces any trade-offs in trying to control for inflation vs. unemployment.
What will be the total amount 10 years from now : What will be the total amount 10 years from now?

Reviews

Write a Review

Business Economics Questions & Answers

  Would have on the exchange rate

Explain what effect a reduction in the U.S. interest rate would have on the exchange rate?

  In sub game perfect equilibrium-which firms enter industry

Consider the following market game: An incumbent firm, called firm 3, is already in an industry. Two potential entrants, called firms 1 and 2, can each enter the industry by paying the entry cost of 10. First, firm 1 decides whether to enter or not. ..

  Perfect competition model of trade

Assuming a two country, two good, perfect competition model of trade with multiple factors, and mobile labor but specific other factors

  What are our current measures of the money supply

Give detailed answers to the following. What is money? What determines that something is money? What forms have money taken on throughout history? What are our current measures of the money supply?

  Show the effects of the fed contractionary monetary policy

Show the effects of the Fed's contractionary monetary policy by shifting one or both of the curves.

  Book value at the end of the third year

Illustrate what is the book value at the end of the third year.

  Rules based on culture-religious codes-societal constraints

But what about the unwritten or informal rules of doing business there—rules based on culture, religious codes, and societal constraints? Sometimes these laws can be very different from those in one’s home country or in other countries in which one i..

  Achieve economies of scale

Identify and discuss the primary factors that are necessary to achieve economies of scale.

  Model likely change in terms of consumption-interest rates

Why, in a model with no production but two periods does an increase in current taxes (without a concurrent change in government spending) not affect consumption? Explain graphically how such a change effects savings. How would the model likely change..

  Owner of a small machine shop

The owner of a small machine shop has just lost one of his larger customers. The solution to his problem, he says, is to fire three machinists

  Concerned about credit card debt

A consumer watchdog organization is concerned about credit card debt. A survey of 10 young adults with credit card debt of more than $2,000 showed

  Wireless applications-advances-advantages and disadvantages

The adoption of wireless technologies varies from one industry to another, and is often based on the benefits provided versus the challenges, implementation issues, and security issues associated with wireless technologies. Consider the wireless c..

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