Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Suppose that the current price of oil is $60 per barrel and the quantity sold is 90 million barrels per day. Assume that the supply and demand curves for oil are linear. The current estimates of the price elasticity of supply and demand in the U.S. are ? = 1 and e = -.2 respectively. Assume that the supply and demand curves for oil are linear. In other words, supply can be expressed as S(p) = a + bp, and demand as D(p) = e - fp.
a) Derive the intercept and slope of the supply curve, a and bb) Derive the components of the demand curve, e and f
Now assume that the U.S. government has decided to purchase and additional 2 million barrels of oil per day and put it into the strategic petroleum reserve. In other words, this additional oil is pumped into the ground and not circulated in the existing U.S. oil market.
c) Draw (using supply and demand curves) the impact of this new governmentpolicy on the U.S. oil market.d) Calculate the new equilibrium price resulting from the government's new policy.
Suppose that disposable income consumption Andy saving in some country are$200 billion, $150 billion and $50 billion respectively, next assume that disposable income increase by $20 billion, consumption rises by $18 billion and saving goes up by $..
If the government imposes a tax of $15 a month on the market, what price would the buyer of an Internet service pay?__________ What price would the seller of the Internet service receive?____________________
Laura desired to make a multiple regression model based on advertising expenditures and coffee times price index. Based on her selection of all normal values she obtained the following:
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.
Mr. Jones has deposited his life savings of $70,000 in a retirement income plan with a local bank. The bank pays a. 10%, b. 11.25%, per year, compounded annually, on such deposits.
The Xerxes Company is composed of a marketing division and a production division. The marketing division packages and distributes a plastic item made by the production division. The demand curve for he finished product sold by the marketing divisi..
The 2003 Zagat Restaurant Survey provides food, décor, and service ratings for some of the top restaurants across the United States. For 15 top-ranked restaurants located in New York, the average price of a dinner including, one drink and tip, wa..
if the cost basis for a macrs 5-year property is $100000 and the equipment is sold for $20000 after 5 years of beneficial use, what will be the depreciation charges the 1st and 5th years and the book value at the end of the 5th year
The federal government is considering three sites for mineral extraction in the national wildlife preserve. The cash flow ($ million) associated with each site are given below Initial cost Annual cost Annual benefits Annual dis-benefits Site A 50 3 2..
Imagine that the current price of waste disposal is $0.025/lb and the average waste disposal is 2.40 lb/p/d. When the price was previously $0.01/lb, the average waste disposal was 2.52 lb/p/d. Assume that the marginal social cost of waste disposal..
The following table shows nominal GDP and an appropriate price index for a group of selected years. Compute real GDP, and indicate in each calculation whether you are inflating or deflating the nominal GDP data.
Refer to Table For a firm operating in a competitive market, the marginal revenue is $0. $7. $14 $21.
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd