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The supply and demand for a given size of flat screen TVs is given by the following equations. P = 1000 - 1.5Qd, P = 60 + 2.5Qsa. What is equilibrium quantity?b. What is equilibrium price?c. Graph the supply and demand curves below, show equilibrium and any positive intercepts, and calculate producer surplus.d. Now suppose that the state of Colorado determines that the price of these TVs is too low and imposes a minimum price of $700. Is this a price ceiling or a price floor?e. Show the market outcome in your graph from part c. (show QS and QD), and calculate producer surplus with the imposed price.f. With the imposed price of $700, there exists a surplus/shortage (circle one) of ____________ (how many TVs?).21. The supply and demand equations for basic 5-shelf bookcases are given below. P = 110 - 0.5Qd, P = 20 + Qsa. What is equilibrium quantity?b. What is equilibrium price?c. Graph the supply and demand curves, and show equilibrium.d. Now suppose that the government decides to tax producers $15.00 per bookcase that they sell. Calculate the new equilibrium prices and the quantity sold, and draw the new (with tax) equilibrium outcome on the above graph.e. How much of the tax do the consumers pay? How much do the producers pay? (just give $ per unit of the tax, not total).f. What is the deadweight loss of the tax
Discuss the significance and meaning of quantitative easing in the context of the liquidity preference model (increase in the quantity of money supplied). Provide specific examples to support your response.
Now suppose the price of coffee drops to $1. Will Billie be better off? How much coffee and tea will she buy now? What does the diagram now look like?
When figuring the number of people unemployed, is it the laborforce - the number of employed adults What abou adults in the military the nonadult population institutionalized adults and nonmilitary, non institutionalized adults not in the labor fo..
Ying threatens not to work on the project. For Ying's threat to be credible, what is the smallest number of hours that Xavier must contribute to the project? How much time does Xavier contribute? Does Ying work on the project?
1nbsp below are six statements.nbsp indicate whether each one pertains to microeconomics mic or macroeconomics
managerial economics to analyze the reasons for and against the merger, also to assess the performance of the consolidated company since its completion.
Write the equation for the new AE Planned function - What is the value of the new equilibrium level of income?
Dicuss should the government subsidize alternative fuel options given all you have learned about the growth? Give special thought to following two statements;
If prior to the tax, coal account for 1/3 of expenditures on energy and oil accounts for 2/3 of energy expenditures, calculate the changes in the overall price and consumption of energy. What is the elasticity of demand for energy implied by these..
What type of relationship occurs between the change in price and total expenditures from an elastic demand curve?
What was Real GDP for 2009? What does GDP tell us? How did GDP change from 2008? What caused these changes
In the model of a dominant company, assume that the fringe supply curve is given through Q = -1 + 0.2P, where P is market price and Q is output. Demand is given by Q = 11 - P.
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