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Presume demand and supply are given by Qd = 50 - P and Qs = 0.5P - 10
1. What are the equilibrium quantity and price in this market?
2. Decide the quantity supplied, the quantity demanded and the magnitude of the surplus if a price floor of $48 is imposed in this market.
3. Decide the quantity demanded, the quantity supplied, and the magnitude of the shortage if a price ceiling of $32 is imposed in the market. Also, decide the full economic price paid by customers.
1 costsan electricity company estimates that its variable cost for producing electricity is given by the following ex-
Estimate the demand function
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in class we covered the concepts of producers and consumers surplus.a. with respect to different government policies
$3500 is deposited every year with 6% interest each year. 38 equal deposits are made. How much money can be withdrawn in 20 equal payments,beginning one year after the last deposit?
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