Calculate the equilibrium price and quantity in this market

Assignment Help Business Economics

Reference no: EM13861835

The market supply and demand functions for a product traded on a perfectly competitive market are given below:

QD = 40 - P

QS = -5 + 4P

Based on this information, calculate the equilibrium price and quantity in this market.

Reference no: EM13861835

Questions Cloud

How many years do you have until you retire : How old are you now? At what age do you hope to retire? These questions are really about answering: How many years do you have until you retire?

Explain the budget situation of the country : Mention the functions of the central bank

How the ratio of the molar-average velocity to the species : Species B cannot be absorbed in liquid A and the boundary conditions. Show how the ratio of the molar-average velocity to the species velocity of A. click,, varies with the mole fraction of species A.

Calculate the equilibrium price and quantity in this market : The market supply and demand functions for a product traded on a perfectly competitive market are given below: Based on this information, calculate the equilibrium price and quantity in this market.

Trade took place between the two countries : Suppose that the K/L ratio is higher in Germany than in Britain. What would you expect to happen to wages in Germany as trade took place between the two countries? Why?

A solution of a chromium salt x is electrolysed : When a solution of a chromium salt X is electrolysed, chromium metal is deposited on the cathode, according to the following equation. Crlaq) ne- Cr(s) When a current of 'IAA was passed for 40 minutes through a solution of salt X, it was found that 0..

Present value of the net benefits for the use of resources : Suppose the MWTP in periods 1 (now) and 2 (one year from now) is given by P = 8-0.4q. Marginal extraction cost = $2. r = 20%. The available supply is 20 units. Calculate the allocation of outputs across the two periods that maximizes the present valu..

Draw bills in difference map : Suppose that Bill cares only about chai and bagels. Her utility function is U=CB, where C is the number of cups of chai she drinks in a day, and B is the number of bagels she eats in a day. Draw Bills in difference MAP. Set up Bills optimization prob..

User Account

All Pages