Reference no: EM13999978
a) A market maker faces the following demand and supply for widgets. Eleven buyers are willing to buy at the following prices: $15, $14, $13, $12, $11, $10, $9, $8, $7, $6, $5. Eleven sellers are also willing to sell at the same prices. What is the equilibrium price in the market without the market maker?
b) A small town in West Texas has one gas station. If the price of oil increases, the price of gas that the station charges will most likely? Explain your answer.
c) If a firm in a perfectly competitive industry is experiencing higher than normal returns, in the long-run what would you expect to happen?
d) What would happen to a firm in a perfectly competitive industry experiencing higher than normal returns in the long-run? Explain your answer.
e) ?In the market for used cars we have 10 sellers, willing to sell at the prices of $1000, $2000, $3000, $4000, $5000, $6000, $7000, $8000, $9000, $10000. What could the market price be in order to induce five sellers to offer their cars for sale?
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Define qualitative and quantitative research designs
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Calculate the mass flow rate for the water spray tank
: Calculate the mass flow rate for water spray tank shown for the following given information: h=0.8 m, hose inside diameter : D=0.015 m, hose length: l =1.9 m, hose friction factor: f=0.11 and hose inlet loss coefficient: Kin=0.8.
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What rate of return compounded semi annually
: An old 30 year life 1000$ bond matures in 20 years and pays semi-annual interest of 40$. what rate of return compounded semi annually does the bond yield if you pay 800$ for it and hold it until maturity assuming the analysis is made on the first day..
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Exports and imports each affect domestic production
: Why do economists include only final goods and services in measuring GDP for a particular year? Why don't they include the value of used goods, i.e. cars, furniture, etc., bought and sold? Define net exports. Explain how US exports and imports each a..
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What is the equilibrium price in market without market maker
: A market maker faces the following demand and supply for widgets. Eleven buyers are willing to buy at the following prices: $15, $14, $13, $12, $11, $10, $9, $8, $7, $6, $5. Eleven sellers are also willing to sell at the same prices. What is the equi..
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Assess the organization''s internal environment
: Assess the structure of the organization and the influence this has on its performance
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How does the application of the dollar value lifo method
: What are the advantages of using the dollar-value LIFO method as opposed to the traditional LIFO method?
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Other goods and services and clean air and water
: Graph a hypothetical PPF for a wealthy and developing country. Each country on your graph should have the same degree of concavity, with the two outputs of goods and services labeled "Other Goods and Services" on the X-axis and "Clean Air and Water" ..
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By how much will the cable stretch
: A cable stretches by an amount d when it supports a crate of mass M. The cable is then cut into three equal pieces. If the same crate is supported by any one of these pieces, by how much will the cable stretch?
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