User Account

All Pages

Determine the equilibrium price and quantity

Assignment Help Microeconomics
Reference no: EM133411820

Assignment:

Suppose a market is characterized by the following:

QD=300-3P

QS=-60+3P

  1. Determine the equilibrium price and quantity.
  2. Solve for the equilibrium price and quantity when a per-unit tax of 3 is imposed on buyers.
  3. Now suppose the tax is imposed on sellers instead of buyers. What is the equilibrium price and quantity?
  4. Determine the relative level of tax burden borne by consumers and producers in parts B) and C).

Reference no: EM133411820

Questions Cloud

Statement for strategic leadership plan : Provide a thesis statement for a strategic leadership plan that addresses integration of your chaplain calling, incarnational ministry, pastoral care,
Wisdom literature is popular genre in the world of bible : Wisdom literature is a popular genre in the world of the Bible, What are the thematic parallels? Where do divergences in religious thought and values occur?
What is income elasticity of demand : What is income elasticity of demand? How does income elasticity of demand determine whether a good is normal good or an inferior good? Give concrete examples.
How does your height compare to the mean : How does your height compare to the mean (average) height of the 20 values? Is your height taller, shorter, or the same as the mean of the sample
Determine the equilibrium price and quantity : Determine the equilibrium price and quantity. Solve for the equilibrium price and quantity when a per-unit tax of 3 is imposed on buyers.
Building a project wbs and schedule in ms project : Building a Project WBS and Schedule in MS Project - Create more sub-activities (more details where needed to further breakdown the work package)
Biblical concepts relate to fields of accounting and finance : How does biblical concepts relate to the fields of accounting and finance. This must incorporate a thoughtful analysis( considering assumptions,
Paul understanding of christian life : Banks views "freedom" as a central feature of Paul's understanding of the Christian life
Development of drug-resistant microbial strains : Your thoughts on three ways that society-not physicians or medical staff-can help to reduce the development of drug-resistant microbial strains.

Reviews

Write a Review

Microeconomics Questions & Answers

  Which group should see the largest marginal effect on health

Considering the investment the pure investment and the normal Grossman model, which group should see the largest marginal effect on health?

  Calculate national saving

Consider a small open economy with desired national saving of S = 20 + 200r* and desired investment of I = 30 - 200r*.a. Calculate national saving(S), investment(I), and the current account balance(NX or CA) in equilibrium when the real world interes..

  Determining oligopoly and monoplistic competition

Assume that both magazines are owned by the same publishing company that maximizes the combined profits of the magazines. Will the company make the same choice as in the noncooperative game (i.e., owned by different publishing companies)?

  Does gdp measure the well-being of society

What does disposable income consist of - How did DI change from 2008 and what caused these changes? Does GDP measure the well-being of society? Why or why not?

  Which firm would likely spend higher proportion of revenue

For each of the following pairs of firms, which firm would likely spend a higher proportion of its revenue on advertising? Explain.

  What is marginal product of a factor

1.(a) Demand for factors of production is called labelled as 'derived demand'. Please explain

  Discuss the ideas for the business

A friend convinces you that she has a great idea for a business, and the two of you incorporate.

  Consumption-output-investment-real interest rate

Through the 1990s government purchases of goods declined as portion of overall output, in part because of the end of the cold war. If we ignore trade and treat the U.S. as a closed economy, what would be the predicted long-run result of this shift on..

  Labor demand is elastic or inelastic?

What is the most common way modern labor unions use to raise wages?  This will result in the fewest jobs lost if labor demand is elastic or inelastic?

  Question about absolute and comparative advantage

Determine which country has absolute advantage in production of tanks and explain why is it this country?

  Discuss at least one product and one service

Name and discuss at least one product and one service that exploded with exponential increase in demand shortly after their introduction. What about products.

  Determine the marginal product of sixth worker based on the

you have been hired to manage a small manufacturing facility which has cost and production data given in the table

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