Suppose the inverse demand for coal is estimated

Assignment Help Business Economics

Reference no: EM13998613

Suppose the inverse demand for coal is estimated to be P = 75 - 0.6Q, whereP is the price of coal and Q is the quantity demanded. The supply of coal is given by P = 0.3Q.

1. Graph inverse demand and inverse supply. Calculate and show graphically the price and quantity of coal in a competitive equilibrium in which producers do not consider the future impacts of their actions (i.e., the marginal user cost is external). Also graph the equilibrium values of:

(i) MWTA by producers

(ii) MC of production

(ii) WTA by producers

(iii) Total variable costs (TVC)

(iv) Total revenue

(v) PS (what kind of rent is this?)

(vi) CS

Reference no: EM13998613

Questions Cloud

The current market rate for rental housing : The current market rate for rental housing in your town is $600 per month. Suppose that college students persuaded the town council to enact a law setting the maximum price for rentals at $400 per month. How would this affect the rental market in you..

Think the behavior of a doctor : In what ways do you think the behavior of a doctor in Great Britain working for a government owned hospital would differ from comparable doctors in a not-for-profit hospital in the US?

Translated using monetary unit : What should you do with the outcomes that are not economic and may not be translated using monetary unit? (The answer can be more than one choice) Quantify the expected future results. Change the viewpoint of the problem.

Calculate and enter the average products of labor : A firm has the following relationship between the number of employees it has (E) and its daily output: Employees (E) output APE MPL VMPE 0 0 1 50 2 60 3 68 4 74 5 78 6 80 In the table above, calculate and enter the average products of labor (APE).

Suppose the inverse demand for coal is estimated : Suppose the inverse demand for coal is estimated to be P = 75 - 0.6Q, whereP is the price of coal and Q is the quantity demanded. The supply of coal is given by P = 0.3Q. Graph inverse demand and inverse supply. Calculate and show graphically the pri..

Precautions applicable to installing replacement mufflers : Kent is retained by Mighty Manufacturing, Inc. to perform welding. He was specially trained in safety precautions applicable to installing replacement mufflers on automobiles including a rule against installing a muffler on any auto that had heavily ..

What is the purchase price before interest : We know a car can be had for 60 monthly payments of $399. The dealer has set us a nominal interest rate of 4.5% compounded daily. What is the purchase price before interest?

Calculate number of unemployed and the unemployment rate : An economy has 100 people divided among the following groups: 25 have full-time jobs, 20 part-time jobs, 5 has two part-time jobs, 10 is looking for jobs, 10 are discourage workers who has given up looking for jobs, 10 run their own businesses, 10 ar..

Relationship between productivity and standard of living : Which of the following best describes the relationship between productivity and standard of living?

User Account

All Pages