What is equilibrium price and quantity

Assignment Help Business Economics
Reference no: EM13868698

Consider a free market with demand equal to Q= 1000 – P and supply equal to Q = 20P.

What is the equilibrium price and quantity?

Reference no: EM13868698

Questions Cloud

What were reason for decline in import-substituting strategy : What were some of the reasons for the decline in the import-substituting industrialization strategy in favor of a strategy that promotes open trade?
Technology change that would further reduce hospital use : US national health expenditure was $7,026 per person in 2006 and $4,790 in 2000. The Consumer Price Index had a value of 201.6 in 2006 and a value of 172.2 in 2000. Adjusted for inflation, how much was spending in 2000? Why has the share of healthcar..
Emotional and social development of young people : Your assignment is to review one article related to specific areas of educational psychology referenced below. Article Topic: The Physical, Emotional, and Social Development of Young People and the Relationship of these to Learning Readiness and to ..
Mandatory health insurance plan : A mandatory health insurance plan costs $4,000. One worker earns $24,500 in employment income and $500 in investment income. Another worker earns $48,000 in employment income and $2,000 in investment income. Which of the payment systems in Exercise 1..
What is equilibrium price and quantity : Consider a free market with demand equal to Q= 1000 – P and supply equal to Q = 20P. What is the equilibrium price and quantity?
Ways to improve your root cause analysis : On this discussion you will need to review the article below 6 ways to improve your root cause analysis. Once you have read the article, you should select at least one of the six ways highlighted in this publication and discuss whether or not you..
To recruit the ceo from the inside seems to work well : To recruit the CEO from the inside seems to work well for Intel. Do you believe this is a sound policy? Why?
Excluded from state income taxes and federal income taxes : Suppose that your employer offered you $4,000 in cash instead of health insurance coverage. Health insurance is excluded from state income taxes and federal income taxes. How different would this calculation look for a worker who earned $500,000 and ..
Accommodate new payer and consumer expectations : The traditional management style of hospitals has been hierarchical and internally focused. What are three important challenges that face hospitals to accommodate new payer and consumer expectations?

Reviews

Write a Review

Business Economics Questions & Answers

  Calculate the optimal quantity and the new consumer surplus

Let the inverse demand curve for tennis classes is: P = 90 - 1.5Q.  If the equilibrium price is $15, calculate the optimal quantity and the consumer surplus. If price increase to $30, calculate the optimal quantity and the new consumer surplus.

  Elucidate deadweight loss from the tax

The price paid by buyers increases by $2 and the after-tax price received by sellers falls by $3. The government is able to raise $750 per month in revenue from the tax. Elucidate deadweight loss from the tax.

  A basic difference between microeconomics and macroeconomics

If average movie ticket prices rise by about 5 percent and attendance falls by about 2 percent, other things being equal, the elasticity of demand for movie tickets is about:

  What is the short run average cost of producing

What is the short run average cost of producing 20,000 units?

  Duke is particularly highly skilled negotiator

Some people have argued that the government should provide medical care to everyone. Under this system: Duke is a particularly highly skilled negotiator. The law firm that hires Duke is able to collect twice as much revenue per hour of Duke's time th..

  Qtwo firms face a demand equation given by p200000 -6q1q2

q.two firms face a demand equation given by p200000 -6q1q2 where q1 and q2 are the outputs of the two firms. the total

  Given the short-run cost curve-perfectly competitive market

Given the short-run (SR) cost curve in the chart above for a firm in a perfectly competitive market, find the firm’s best output level and total profits when the market price is: a) $18, b) $13 c) $5 d) $3.

  International trade increases prices-employment

If international trade increases prices, employment, and wages among more competitive and efficient producers but has the opposite effects among less competitive and efficient producers, why should anyone listen to opponents of international trade? E..

  What are limits of the study

What are the limits of the study? Write at least one paragraph. There are two deliverables for this Case Problem, the Excel spreadsheet and the written description/explanation. Please submit both of them electronically via the dropbox.

  What is the marginal effect of an increase

The demand curve for product X is given by QDx = 220 ? PX + 3PY + 0.001I where PY is the price of a related good Y, and I is income. The supply curve for good X is given by QSX =10+3PX.  What is the marginal effect of an increase in PY on the equilib..

  Calculate the maintained mark up percentage for a department

Calculate the maintained mark up percentage for a department under the following conditions:

  Explain how would each of these traps impact the production

Explain how would each of these traps impact the production possibilities frontier.

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd