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Question: (a) Consider the demand and supply curves
D = 150 - (½)P, S = 20 + 2P
Find the equilibrium price P∗, and the corresponding quantity Q∗.
(b) Suppose a tax of $2 per unit is imposed on the producer. How will this influence the equilibrium price?
(c) Compute the total revenue obtained by the producer before the tax is imposed (R∗) and after (R^).
What does that say about the effect of raising the demand for the output of just one sector of the economy?
How many pizzas must be sold to break even (i.e., you experience neither a profit nor a loss)? Interpret your result.
INDEX OF ENVIRONMENTAL QUALITY The Department of the Interior of an African country began to record an index of environmental quality to measure progress.
The demand equation for a product is p=0.01q2-1.1q+30 and the supply equation is p=0.01q2+8. Find the equilibrium point (po,qo) and determine the consumer surplus under market equilibrium.
Find the Upper and Lower Darboux Sums given F(x) = 5 - 3x on [0,2] and partition P = {tsub0 = 0, tsub1 = 2/n, tsub2 = 4/n, and tsub3 = 2}
An actor invests some money at 9 %, and $35000 more than twice the amount at 10%. The total annual interest earned from the investment is $29020. How much did he invest at each amount? Use the six-step method.
find an equation of the line passing throughout (-3,4) and parallel to the x-axis.
a researcher predicts that watching a film on institutionalization will change students attitudes about chronically
What is the probability that at least one line stalls at least once in any given week?
Test car A is traveling at a rate of 146 ft/sec . Test car B is traveling at a rate of 93 mi/h. Which car is moving at the faster rate?
suppose a company had the following stock outstanding and retained earnings on december 31 2011.common stock par 7
According to statistics the distribution of ages for licensed drivers has a mean of 44.5 years and a standard deviation of 18.7 years. Assuming the distribution of ages is normally distributed, what percentage of the drivers are the following.
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