Determine the equilibrium price and quantity

Assignment Help Econometrics
Reference no: EM13218554

In a given marker, demand is described by the equation QD=1800-10P and supply is described by QS=200+10P.

A. Determine the equilibrium price and quantity.

B. Determine the surplus or shortage that would exist if the price was set at $60 by the state.

Reference no: EM13218554

Questions Cloud

Determine the impact of the proposed govt policy on business : Suppose you are the manager of a home-building company and the government is considering eliminating the deduct-ability of mortgage interest payments. A Typical consumer's marginal tax rate is 25% and the elasticity of demand for new homes is -1.5..
Calculate change in consumer surplus and producer surplus : A small nation permits free trade in good X. At the good's free-trade price of $8, domestic firms supply 6 million units and imports account for 4 million units. Recently the small country has ereted trade barriers with the result that imports hav..
Find the probability that receiver makes a decoding error : The receiver takes the three received bits and decides which bit was sent by taking the majority vote of the three bits. Find the probability that the receiver makes a decoding error.
Calculate the number of calls : i) Calculate the number of calls/hour/cell and the number of calls/hours/km2 ii) Calculate the number of users/hour/cell and the number of users/hours/channel iii) Find the modulation frequency for this system.
Determine the equilibrium price and quantity : In a given marker, demand is described by the equation QD=1800-10P and supply is described by QS=200+10P. A. Determine the equilibrium price and quantity. B. Determine the surplus or shortage that would exist if the price was set at $60 by the state.
What is the approximate area of the same chip : For a chip area with area 2cm x 2cm in a 180nm logic technology, what is the approximate area of the same chip when ported to a 32nm logic technology.
Calculate the resistors resistance : calculate the resistor's resistance. If the bandwidth were cut to 25 kHz, determine the expected output meter reading.
Calculate ziponias output from 2000 to 2006 : Calculate Ziponia's output from 2000 to 2006, assuming that its growth rate was 6% from 2000 to 2001 and then the growth rate fell by 1% point each year. Plot these point onto your graph from part (a). Is the slope of this graph constant.
Design a third-order butterworth highpass : design a third-order Butterworth highpass filter with fc=100 Hz and high frequency gain of 20 dB using the standard form of the third-order Butterworth polynomial (s+1)(s^2+s+1)

Reviews

Write a Review

Econometrics Questions & Answers

  Design a simple econometric research project

Design a simple econometric research project

  Multiplicative decomposition method

Multiplicative decomposition method

  Market for cigarettes

The Australian government administers two programs that affect the market for cigarettes.

  Solve the forecast model

Solve the forecast model

  What are the marginal abatement cost functions

What are the marginal abatement cost functions for each of the two areas? Calculate the loss in the two areas due to over-control (for the rural area) and under-control (for the urban area).

  Write the t statistic for testing the null hypothesis

Explain why this model violates the assumption of no perfect collinearity.  Write the t statistic for testing the null hypothesis

  What is economics system

What is economics system? What are the types of economics system? Briefly explain each type of economics system by giving examples of nations that are close to each type

  Multiple choice questions related to market concentration

Determine when a competitively produced product generates negative externalities in production, the industry will,

  Calculating number of units produced by firm

Assume a company has the following production function: Q = 100 K.5 L1 . Currently, the company hires 1,000 workers and employs 100 units of capital.

  Question about mobile commerce

M-commerce also known as mobile commerce is being lumped in with several strategic internet plans. Explain some of the industries that are likely to use mobile commerce and how it is working for them.

  Calculating the average days past due and average flow time

Auto Data manufactures custom engineering testing machine. The following 5-orders are currently in the design department:

  Mechanism of an english auction and second price auction

Briefly discuss the difference between mechanism of an oral or English auction and a Vickrey or second price auction.

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