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Original quanity | new quantity . |price. |quanity supplieddemanded demanded 40 12$ 80 45 11$ 75 50 10$ 70 55 9$ 65 60 8$ 60 65 7$ 55 70 6$ 50 75 5$ 45
1. what is the equilibrium price and quanity? explain2.what will occur if the price is instially set a $123.what will occur if the price is originally set at $54.draw a graph that illustrates the information for example
Now suppose that the demand increases by 10 units at each price.fill in the new quanity demanded in table above5.determine the new equilibrium price and quanity6.reproduce the graph tha u drew for question 4 and label oringinaldemand and supply schedules and labal oringinal equilibium priceand quanity.
Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0% Intercept 123034.4703 23311.13897 5.277926165 0.000358709 71094.01589 174974.9248 71094.01589 174974.9248 y 0.238078372 0.017797354 13.37717818 1.04516E-07 0.19842..
Total Rev0 8 16 24 32 40 48 56 1.) Calculate marginal revenue & marginal cost for each quantity 2.) Can you tell whether this firm is in a competitive industry and if the industry is in a long-run equilibrium
How much must you deposit in your retirement account each year for 10 years starting now (i.e., years 0 through 9) if you want to be able to withdraw $50,000 per year forever beginning 30 years from now Assume the account earns interest at 10% per..
The widget industry in Springfield is competitive, with numerous buyers and sellers. Consumers don't differentiate among the various brands of widgets (no product differentiation). The industry demand curve is given by: Qd = 998 - 5Pw + 4 Y - 6Pg.
If the velocity of circulation is growing at one percent a year, the real interest rate is two percent a year, the nominal interest rate is seven percent a year, and the growth rate of real GDP is three percent a year
A telephone distribution company is considering building a new automated switching equipment substation with a useful life of 20 years. The company uses a 14% MARR to assess capital investment projects. Estimated real dollar costs and benefits
a.) Determine the profit maximizing level of output. b.) Compute the profit maximizing price. c.) Calculate the upper and lower limits within which marginal cost may vary without affecting the profit maximizing output or the price.
Four wheel bearings are to be replaced on a company vehicle. The mechanic has selected the four replacement parts from a large supply bin in which 10% of the bearings are defective and will fail within the first 100 miles.
The income tax system in a country requires each citizen to pay 10% of income on earnings up to $40,000, and then pay 20% on any earnings over $40,000. If an individual has an income of $69971, then what is his marginal tax rate, in percentage te..
Hours of operation Marginal cost 1 4 2 8 3 12 4 16 5 20 6 24 7 28 45) Julianne runs a business and needs to decide how many hours to stay open. Table 2.2 illustrates her marginal costs of staying open for each additional hour.
Test the null hypothesis of independence of the two qualitative variables A (political affiliation: A1 = Republican; A2 = Democrat; A3 = Independent) and B (education: B1 = high school; B2 = college; B3 = graduate school)
Given the information below what are the optimal markups for widgets and gadgets Marginal revenue = Price(1 + 1/Price elasticity) since price is positive (always) so we can ignore that part when determining the sign of MR MR is negative if 1+1/elasti..
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