Reference no: EM1366521
Answer all questions, a through f. On questions c, d, e and f show your math.
Suppose that the demand and supply functions for good X are as follows:
QD = 75 + (.004)*M - 4*P
QS = -43 - (.4)*(PI) + 3*P
a. Is this good a normal good or an inferior good? How do we know?
b. Is the sign correct on the coefficient in front of PI? Explain why or why not?
Now...
Assume that M = 50,000 and PI = 80.
c. What is the equilibrium price and equilibrium quantity?
d. If a price of $40 occurs in the market, rather than the equilibrium price, would we have a surplus or a shortage? Of how many units?
e. If a price of $60 occurs in the market, rather than the equilibrium price, would we have a surplus or a shortage? Of how many units?
f. If the value of M increased from 50,000 to 60,000 and nothing else changed, would the equilibrium price increase or decrease? By how much? Would the equilibrium quantity increase or decrease? By how much?
Classification of cost allocation
: ABC Hospital laundry section cleans laboratory jackets for housekeeping and laboratory departments. The budgeted volume of jackets was 100 for housekeeping & 200 for laboratory.
|
Question about probabilty and randomness
: A salesperson has been losing 25% of potential sales. In a study of 20 random sales contacts from this salesperson, what is the probability of finding 4 or more successful sales?
|
Explain size of new working set system designers
: Suppose a process changes its locality and size of new working set is too large to be stored into available free memory. What are some options system designers could choose from to handle this situation?
|
Who will be affected by the legislation
: Which of the stakeholders who will be affected by the legislation in the situation - Biotech medicines---proteins made by modifying the DNA of bacteria, yeast or mammal cells and infused into sick patients
|
Managerial economics-demand-supply and equilibrium
: Assume that the demand and supply functions for good X are as follows: What is the equilibrium price and equilibrium quantity?
|
Calculating the net investment
: Determine net investment for an extruder that costs $42,000, if shipping expenses are $1,500 and installation is $4,800? Suppose this efficient equipment is replacing an older extruder with a book and market value of zero
|
Timeline of healthcare and change in healthcare
: There are many articles written regarding the unfolding timeline of healthcare and change in healthcare.
|
Characterize a page fault rate using pure demand paging
: Consider system which uses pure demand paging: When a process first start execution, how would you characterize a page fault rate?
|
Forecast for health care in united states
: This is a forecast for health care reform in the United States and also a summary of recent legislations and modifications especially as they relate to the Medicare Part D programs.
|