Reference no: EM1369827
16) If demand increases while supply decreases for a particular good:
a. its equilibrium price will increase while the quantity of the good produced and sold could increase, decrease, or remain constant.
b. the quantity of the good produced and sold will decrease while its equilibrium price could increase, decrease, or remain constant.
c. the quantity of the good produced and sold will increase while its equilibrium price could increase, decrease or remain constant.
d. its equilibrium price will decrease while the quantity of the good produced and sold could increase, decrease, or remain constant.
17) The quantity of product X supplied can be expected to rise with a fall in:
a. prices of competing products.
b. price of X.
c. energy-saving technical change.
d. input prices.
19) If the production of two goods is complementary a decrease in the price of one will:
a. increase supply of the other.
b. increase the quantity supplied of the other.
c. decrease the price of the other.
d. decrease supply of the other.
25)Demand Analysis. The Crank Yankers DVD (season two) has been a hot seller during recent weeks. An analysis of weekly demand shows:
Q = 3,000 - 90P
where Q is DVD sales and P is price.
A. How many DVDs could be sold at a $20 price?
B. Calculate the point price elasticity of demand at a price of $20.
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Efficient competitive equilibrium
: There is a pure exchange economy with two identical customer , A and B. C ustomer A has 8 units of good 1 and 4 units of good 2. C ustomer B has 4 units of good 1 and 8 units of good 2.
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Determine pure strategy nash equilibria of the game
: Assume that a cake is being divided in following way among two players. Each player writes down a number from zero to one on his piece of paper.
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Determine profit level with the cournot quantity
: Assume the market demand curve in an industry is characterized by P=1-Q, where P is the market price and Q is the total quantity supplied to the market. Assume there are three firms in this industry.
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Discuss the behavior of firms in oligopoly markets
: Critically discuss that there is no satisfying theory that explains the behavior of firms in oligopoly markets. Which theories should I include in the analysis and give some examples relevant to these theories?
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Compute the point price elasticity of demand
: The Crank Yankers DVD season two has been a hot seller during recent weeks. An examine of weekly demand shows:
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Calculate the equilibrium price or output solution
: Local government in a west Coast college town is concerned about recent explosion in apartment rental rates for students and other low income renters.
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Equilibrium level of income and interest rate
: Suppose following equations summarize or represent structure of economy. Determine equations for IS and LM curves.
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Calculate the equilibrium values of private saving
: Suppose that GDP is 5,000. Consumption is C=1,000+.3(Y-T). Investment is I=1500-50r, where r is the real interest rate. Taxes are 1,000 and government expenditures are 1,500.
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Determine equilibrium level of output
: Assume that a company has a budget of $12,000, that the wage rate is $10 per hour, and that the rental rate of capital is $ 100 per hour.
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