User Account

All Pages

What is the equilibrium price and quantity

Assignment Help Business Economics
Reference no: EM132153513

Industry supply and demand are given by QD = 1000 - 2P and QS = 3P.

a. What is the equilibrium price and quantity?

b. At a price of $100, will there be a shortage or a surplus, and how large will it be?

c. At a price of $300, will there be a shortage or a surplus, and how large will it be?

Reference no: EM132153513

Questions Cloud

Find the minimum frame size : if switch is used; theoritically, is there any limitation for frame size and why ?
Model of the relationship between study hours : In addition to study environment, which factors do you think should ideally be held constant in a model of the relationship between study hours and final grade?
How strategic flexibility and real options work : Need real life examples of how strategic flexibility and real options work.
What turns data into useful intelligence : Modeling a solution requires skill at identifying a problem. What real-life examples have you seen where the solution solved the wrong problem?
What is the equilibrium price and quantity : Industry supply and demand are given by QD = 1000 - 2P and QS = 3P.
Show that any subset of a countable set is countable : Prove that for any finite alphabet S, S* is countable. Show that any subset of a countable set is countable.
Impact on equilibrium price and quantity : If consumer incomes increase to $30,000, what will be the impact on equilibrium price and quantity?
Design a tm m that compute the following 3-argument function : Informally describe your design. Design the transition table for M. Use the ` notation to show how M computes fM(0,00, 000).
Show how we can avoid this problem by traversing the array : It turns out that we must be careful about updating the index value when we remove elements from an array list, since the size of the list changes inside loop.

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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