User Account

All Pages

Industry demand and supply functions

Assignment Help Business Economics
Reference no: EM132649032

Industry demand and supply functions for one-bedroom condominiums for senior citizens are as follows:

  • Q is the number of one-bedroom condominiums for senior citizens built per year.
  • P is the average price of one-bedroom condominiums in thousands of dollars.
  • R is the average rent for a one-bedroom apartment in dollars; estimated to be $1,500.
  • I is the average annual income in thousands of dollars; estimated to be $75,000.
  • Pop. is population in millions; estimated to be 300 million.
  • i is the average interest rate in percent; estimated to be 12 percent.
  • A is advertising expenditures in thousands of dollars; estimated to be $500,000.
  • W is the average hourly wage rate for skilled labor in dollars; estimated to be $40.

Determine if there is a surplus or shortage at P = $150,000.

Determine if there is a surplus or shortage P = $225,000.

Reference no: EM132649032

Questions Cloud

What is the returns to scale in industry : Here is the first line of data range: Output: 790 Labor-Skill: 3000 Labor Admin: 2100 Raw materials: 400 Energy: 2500
Prepare an income statement for Deloch first year : During the year, she paid $2,620 cash to replace a defective tuner. Prepare an income statement for Deloch's first year of operation
What place thinks would be required to establish alluded : What Place thinks would be required to establish the identity alluded to in 3. What does Place think these conscious mental states are?
Rate of real gdp growth between 2019 and 2020 : Suppose the average unemployment rate during the 12 months of 2020 is 8.7%. What does Okun's Law imply will be the rate of Real GDP growth
Industry demand and supply functions : Industry demand and supply functions for one-bedroom condominiums for senior citizens are as follows:
Find the future value and the interest earned : Problem - You deposit $300 in an account earning 4% compound interest for 3 years. Find the future value and the interest earned
Describes the relationship between real gdp growth : One aspect of the module focused on Okun's Law, which describes the relationship between Real GDP growth and the change in the unemployment rate:
What is the predetermined overhead rate : Problem - A company estimates its manufacturing overhead will be $660,000 for the next year. What is the predetermined overhead rate
Requires school lockdown or safety drills in public school : Determine whether the state you reside in (a) requires school lockdown or safety drills in public school (b) mandates active shooter drills or (c) neither.

Reviews

Write a Review

Business Economics Questions & Answers

  Outward flow of immigrants that decreases its labor force

Examine the impact on a small country following an outward flow of immigrants that decreases its labor force. Assume that land is specific to agriculture and capital is specific to manufacturing, while labor is free to move between the two sectors.

  What is the effect of this policy on output

Origins of the Depression. In tracing the origins of the Great Depression, Berkeley economist Christina Romer argues that the U.S. suffered a large fall in aggregate demand following the 1929 stock market crash. Knowing that the U.S. was on the gold ..

  Long-run implications of adding this benefit to the wages

A pet store is considering adding an employee discount of 25% off anything in the store to the benefits the employees already receive. What are the long-run implications of adding this benefit to the wages that its employees receive and to the type o..

  First mover is dominating market

A first mover is dominating a market, with revenues of $40 million annually. The average total cost of the firm is #02 million, of which $19 million is fixed. How can the first move keep others from entering the market?

  What is the effective tax rate

What is the correctly calculated corporate income tax for the company? What is the effective (average) tax rate?

  Consider the market for north face coats

Consider the market for North Face coats. Suppose average household income increases from $38 thousand to $54 thousand per year. As a result, the demand for North Face coats increases from 430 to 507. Using the midpoint formula, what is the income el..

  Impacts of applying principles to the healthcare industry

You explored the basic economic principles of trade, choice, opportunity costs, and scarcity, along with the law of demand. What are the potential positive

  Effective rate of protection for sneakers

Illustrate what is the effective rate of protection for sneakers.

  What will happen to the bakery if a large retailer like cole

What will happen to the bakery if a large retailer like Coles establishes a new store in a location close by and decides to price bread below cost as an opening

  Qin ua villa 1000 people live on main street that is 10

q.in ua villa 1000 people live on main street that is 10 miles long. every day each of the 1000 people will buy 1 fruit

  Determining the car depreciation

A common complaint is that a new car will depreciate by 25% as soon as the new owner drives it off the lot. This information comes from resale price data

  Bond prices and quantity of bonds sold on the graph

On the graph to the right of the U.S. bond market, show the decreasing desire to buy U.S. government bonds.

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