User Account

All Pages

Calculate the equilibrium price and quantity

Assignment Help Macroeconomics
Reference no: EM131095248

The following formulas represent the demand and supply curves for corn:

QD = 1,600 - 125P
QS = 440 + 165P

  1. Calculate the equilibrium price and quantity in this market and illustrate this graphically.
  2. Calculate the price elasticity of demand at the equilibrium. Is this elastic or inelastic?
  3. Calculate the price elasticity of supply at the equilibrium. Is this elastic or inelastic?
  4. Suppose the government sets a price floor of $4.50 in this market. What is the quantity supplied at that price? What is the quantity demanded? Is this a shortage or a surplus? How big is it?
  5. Illustrate this graphically.

Reference no: EM131095248

Questions Cloud

Globalized world of marketing : Finding a billboard or an advertisement banner on roads, railway stations and other public places had been observed for many decades and it is still the most successful mode adopted by most companies throughout the world.
What kind of salesperson is a manufacturer''s agent : If you were a large (over/under $ 1 million) lottery or sweepstakes winner, how would you determine whether you would want the sweepstakes prize today or over ten years if you could earn only 6 percent interest on the investments?
Internet presence improve information problems : How might a company's internet presence improve information problems? Can a company's internet presence worsen information problems? Give an example of a company that has an internet presence.
What would be needed in order for the general public : What would be needed in order for the general public to understand this information and become involved in the policy-making process?
Calculate the equilibrium price and quantity : Calculate the equilibrium price and quantity in this market and illustrate this graphically. Calculate the price elasticity of demand at the equilibrium. Is this elastic or inelastic?
Describe the concerns presented by two of the stakeholders : Describe the concerns presented by two of the stakeholders and discuss your position (i.e., for or against) in the current debate regarding value-driven health policy.
Prepare the journal entries of cash budget : Cash receipts preparation for the months of August and September has been done for the given information. Cash Collected for services rendered Cash Receipts for the months of August and September
Discuss difference between categorical and quantitative data : Discuss the difference between categorical and quantitative data. As a healthcare manager, when making a decision based on data, would you prefer to use categorical or quantitative data? Provide rationale for your response
What is your personal position on the hhs policy for women : What is your personal position on the HHS Policy for Women's Preventative Services Coverage? Does the HHS policy infringe upon religious liberties outlined by the US constitution? Why or Why not? Provide rationale for your position.

Reviews

Write a Review

Macroeconomics Questions & Answers

  Inflation targeting be a good policy

Why might it be difficult for the Fed to formally adopt inflation targeting?  Would inflation targeting be a good policy for the Fed in the present economic environment

  In using the taylor rule

In using the Taylor Rule as a guideline for monetary policy, what are the pros and cons of using forecasted values of inflation and output rather than observed values of these variables?

  Describe the present economic crisis situation in europe

Describe the present economic crisis situation in Europe.  Why has it been so difficult for the Europeans to find a solution to this problem?   Comment on what implications the crisis may have for the rest of the world if Europeans are not able to ag..

  Long-term federal government budget problems

Question:. Explain why there are long-term Federal government budget problems. Explain why the base-line forecast of the CBO is misleading.

  Derive and compare demand curve

Question based on Derive and compare demand curve,  Derive Ambrose's demand function for peanuts. How does it compare with Johnny's demand curve for peanuts?

  Problem based on utility function

Problem based on  Utility Function - Problem,  Answer and explain the following using a diagram which is completely labeled.

  Laffer curve : tax rate and tax revenue

Question based on Laffer Curve : Tax Rate and Tax Revenue,  Do raising tax rates necessarily raise tax revenue? What factors affect how tax revenue changes when tax rates change?

  Problem - income elasticity of demand

Problem - Income Elasticity of Demand,  Interpret the following Income Elasticities of Demand (YED) values for the following and state if the good is normal or inferior; YED= +0.5 and YED= -2.5

  Positive balance of payment

Question Positive Balance of Payment: "Things will look good for the US if we could just get to where we are consistently running a positive Balance of Payments."

  Effect of recession on the investment curve

Comment on the effect of a recession on the investment curve (only) and on the level of savings, investment, and the equilibrium real interest rate in the financial crisis that hits United States first starting in fall 2007.

  Affect of falling domestic investment on trade surplus and

How will a fall in domestic investment affect the trade surplus and net capital outflows in the domestic economy, the trade deficit and capital inflows in the rest of the world.

  Crises in the banking sector and bank run

Banking crises crisis decreases depositors' confidence in the banking system. What would be the effect of a rumor about a banking crisis on checkable deposits in such a country?

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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