Reference no: EM133128261
Qd = 200 - 20P1 + 20P2 + 3P3 + 2M where Qd is the demand for good 1, P1 is the price of good 1, P2 is the price of good 2, P3 is the price of good 3, and M is income.
Suppose that P2 = 2, P3 = 20, M = 1000
A. Now find equilibrium price and quantity.
B. Suppose the price of good 2 increased, holding everything else constant. Depict in a graph what would happen to the market price and quantity of good 1. I do not want numbers here you are inferring your answer from what you know about how good2 and good 1 are related.
C. Suppose a decrease in income occurred, holding everything else constant. Depict in a graph what would happen to the market price and quantity of good 1. I do not want numbers here you are inferring your answer from what you know about how good 1 and income are related.
D. Suppose an increase in input prices occurred, holding everything else constant. Depict in a graph what would happen to the market price and quantity of good 1. I do not want numbers here you are inferring your answer from what you know about how good 1 and input prices
are related.
E. Suppose, starting with the initial equilibrium in part A there is a simultaneous increase in the price of the input and an increase in income. What will happen to the market price and quantity of good 1? Justify your answer with graphs. Remember, with simultaneous shifts, one
variable's direction is uncertain and the other is not.
How most of our politicians get elected
: Discuss the process of how most of our politicians get elected, their connections to their stakeholders, constituencies and people they are elected to represent
|
What is terrrific contribution rate
: Last year Terrific copying has total revenue of $475,000 while operating at 60% of capacity. What is Terrrific contribution rate
|
Find the market capitalization for ford and general motors
: Rivian is an electric truck startup. recently made the news with its Initial Public Offering (IPO) on the Nasdaq on Nov. 10, 2021.
|
Definitions of the term globalization
: Give 4 definitions of the term GLOBALIZATION with their corresponding author and the website address. Explain each definition.
|
Find equilibrium price and quantity
: Qd = 200 - 20P1 + 20P2 + 3P3 + 2M where Qd is the demand for good 1, P1 is the price of good 1, P2 is the price of good 2, P3 is the price of good 3, and M is i
|
CWEV201 Water Engineering Assignment
: CWEV201 Water Engineering Assignment Help and Solution, Nelson Mandela University - Assessment Writing Service
|
What should be reported as cost of goods sold
: If the company counts its ending inventory and finds merchandise costing $84,000, what should be reported as cost of goods sold for the year
|
Find out the kaldor-hicks efficiency
: Could you give me a simple example where there is a Kaldor-Hicks efficiency?
|
Explain whether the item should be reported to management
: For each of the individual misstatements listed, explain whether the item should be reported to management or is clearly trivial
|