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Q1. The marketplace for gilders is primarily competitive and the market demand is: P = 315 - 0.6QD. The mutual marginal costs of firms in the gilder industry are: MC = 9 + 0.3Q. Draw the demand also marginal cost curves. Determine also show how much these firms will sell and what they will charge.
Q2. Elucidate data of an economy is given: C=50+.8Y,I=50.Let the output be 600.Is the economy in equilibrium? Discuss what is the equilibrium level of GDP?
This document contains various important questions and their appropriate answers in the subject field of Economics.
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