Reference no: EM13222247
Office building maintenance plans call for the stripping, waxing, and buffing of ceramic floor tiles. This work is contracted out to maintenance firms, and both technology and labor requirements are very basic.
Supply and demand conditions in this perfectly competitive service market in New York are:
QS = 2P - 20 (Supply)
QD = 80 - 2P (Demand)
A. Algebraically determine the market equilibrium price/output combination.
Where Q is thousands of hours of floor reconditioning per month, and P is the price per hour.
B. Use a graph to confirm your answer.
For the graph, use PRICES: 10, 20,30,40,50,60,70,80,90
and QUANTITIES:5,10,15,20,25,30,35,40,45,50,55,60,65
Make sure to calculate each new QS and QD using the above prices(10,20,30,40,50,60,70,80,90). The solutions will also be a part of your graph.
C. Find the price below which the firm will go out of business.
D. What is the firm's long run supply curve?
|
Explain equation for the formation of the double helix
: derive the rate equation for the formation of the double helix and express the observed rate constant
|
|
Calculate the price of each vegetable in each year
: Suppose that the residents of Vegopia spend all of their income on cauliflower, broccoli, and carrots. In 2008, they buy 100 heads of cauliflower for $200, 50 bunches of broccoli for $100, and 500 carrots for $50. In 2009, they buy 75 heads of cau..
|
|
How do the language differences contribute to the challenges
: In what ways would prejudice and stereotypes make it more difficult for the supervisors in a business to improve relations with employees?How do the language differences contribute to the challenges.
|
|
Find out the molality of the solution
: With water as a solvent, determine the molality of the solution required to produce a change of temperature equal to 2 ºC
|
|
Find the price below which the firm will go out of business
: Office building maintenance plans call for the stripping, waxing, and buffing of ceramic floor tiles. This work is contracted out to maintenance firms, and both technology and labor requirements are very basic. Supply and demand conditions in this..
|
|
Explain a stimulant and decongestant drug
: Many important drugs contain the amine functional group, which makes them basic. Many drugs also contain an amide group, which is effectively neutral. Suggest a way to separate ephedrine, a stimulant and decongestant drug shown below, from phenace..
|
|
Fins amount of barley and alfalfa each farmer can produce
: Jason and Stasis are farmers. Each one owns a 20-acre plot of land. The table below shows amount of barley and alfalfa each farmer can produce on a given acre. Both farmers can choose whether to devote all 20 acre to producing barley, devote all 2..
|
|
Explain what is the concentraton of kmno4 solution
: 5H2C2O4(aq) + 2KMnO4(aq) + 3H2SO4(aq) ---> 10CO2(g) + 2MnSO4(aq) + K2SO4(aq) + 8H2O(l). What is the concentraton of KMnO4 solution if 22.35mL reacts with 0.5170g of oxalic acid.
|
|
Calculate fund managers average
: Calculate each fund manager's average "alpha" (?) (i.e. actual return minus expected return) over the 5-year holding period. Show graphically where these ? statistics would plot on the security market line (SML).
|