User Account

All Pages

Determine the quantity demanded-quantity supplied

Assignment Help Business Economics
Reference no: EM133083661

Aoslia is a small country that takes the world price of corn as given.

Its domestic supply and demand for corn are given by the following: (D is demand, P is price, S is supply)

D = 45 - 3P

S = 3P - 9

a. Assume initially that Aoslia does not open to trade. What is the autarky equilibrium price and quantity?

b. Suppose Aoslia decides to engage in trade. Determine the quantity demanded, quantity supplied, and import given the world price of $6 per bushel of corn.

Reference no: EM133083661

Questions Cloud

How does the treatment of indigenous peoples : How does the treatment of indigenous peoples by more dominant religions and cultures illustrate the negative side of religions? Give example.
Differences between direct vs indirect finance : Compare and contrast the differences between direct vs indirect finance with graphs and examples for each.
Making a notification-report : Why is it important to work collaboratively with relevant agencies to ensure maximum effectiveness when making a notification/report?
Producing nations outside the organization : The newspaper also noted OPEC's view "that producing nations outside the organization, like Norway and Britain, should do their share and cut production." What
Determine the quantity demanded-quantity supplied : Suppose Aoslia decides to engage in trade. Determine the quantity demanded, quantity supplied, and import given the world price of $6 per bushel of corn.
Salvage value and economic life : Salvage value and economic life were expected to increase by P50,000 and 5 years respectively. Using the sinking fund method with 10% interest
Explain change in the price for a good or service : Is it important to know by how much demand increases or decreases when there is a change in the price for a good or service?
Minimize the total staff required : Using Excel QM to solve this problem: The famous Y. S. Chang Restaurant is open 24 hours a day. Waiters and busboys report for duty at 3 a.m., 7 a.m., 11 a.m.,
Pros and cons of amazon use of algorithmic management : What are the pros and cons of Amazon's use of algorithmic management?

Reviews

Write a Review

Business Economics Questions & Answers

  Create a blog

BUS 311 – Managerial Communications - do some research and use the information in the readings and resources section to develop your Top 5 Business Writing Tips

  Study of how firms decisions about prices and quantities

How is the study of how firms' decisions about prices and quantities depend on the market conditions they face,the field of industrial organization

  Assume that in a private closed economy consumption

Assume that in a private closed economy consumption is $240 billion and investment is $50 billion, both at the $280 billion level of domestic output.

  Case for federal reserve independence includes the idea

The case for the Federal Reserve independence includes the idea that

  Change in the quantity of money

If the Bank of Canada sells $400 million worth of bonds to the public in an open market operation, what is the change in the quantity of money

  Growth rate of efficiency and level of efficiency

What is the difference between growth rate of efficiency and level of efficiency?

  Calculate the price and output for a monopoly

A market has linear market MC (might be supply) and demand curves. No one will buy the good if the price is above $200 and the firm will not produce the good if the price is below $20. Calculate the consumer surplus and producer surplus if this is a ..

  Consumption spending rises

If a household`s income rises from $46,000 to $46,700 and its consumption spending rises from $35,800 to $36,400, then

  What is the present value of the future payment

Suppose that in exactly five years you will recieve a one-time payment equal to $4,000. If the interest rate is 6 percent (compounded annually), approximately how much is this payment worth to you today? In other words, what is the "present value" of..

  Cournot equilibrium price for industry

An industry has two firms, each of which produces output at a constant unit cost of $10 per unit. The demand function for the industry is q(p) = 1,000,000/p. Give the best-response function for each firm. What is the Cournot equilibrium price for thi..

  To what extent was choose and book a failure

Clarify and describe the problems of the NHS Choose and Book System what management, organization and technology factors were responsible for those problems? To what extent was Choose and Book a failure? Explain your answer. What was the economic and..

  Research security best practices and provide a presentation

It was recently reported that security breaches are on the rise within your small- to medium-sized business network.

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