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Suppose the demand for a product is given by P = 40 - 4Q. Also the supply is given by P = 10 + Q
1) What is the equilibrium price and quantity of the product?
2) What is the price elasticity of the demand at the equilibrium price?
For the next 3 questions, assume that there is a $10 per unit excise tax levied on the consumers of the product
3) What price will buyers pay after the tax is imposed?
4) What is the deadweight loss created by the tax
5) What is the quantity of the good that will be sold after the tax is imposed.
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As electronic medical records become standard, we may see individuals carrying their health information in wallets or purses so the information is immediately available when needed.
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Soaring Eagles Corp. has total current assetsof $11,916,000, current liabilities of $5,380,000 and a quick ratio of 0.77. What is its level of inventory?
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