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1. Suppose demand is still described by P=5.10-0.80Q and supply is described by P=1.90+0.20Q. If there are no price controls, what would be the equilibrium price?(Answers must be within 0.10 of the actual value to be counted as correct. Do not include dollar signs.)
2. Suppose demand is still described by P=5.10-0.80Q and supply is described by P=1.90+0.20Q. If there is a price floor of 2.94, what would be the quantity traded?(Answers must be within 0.10 of the actual value to be counted as correct.)
3. Suppose demand is still described by P=5.10-0.80Q and supply is described by P=1.90+0.20Q. If there is a price floor of 2.94, what would be the consumer surplus in the market? (Answers must be within 0.20 of the actual value to be counted as correct. Do not include dollar signs.)
q. 1. does easy access to distribution channels at best buy office depot as well as the direct- to- consumers on the
Game Theory Suppose there are only two car companies, Ford & Chevrolet. Ford believes that Chevrolet will match any price it sets, but Chevrolet too is interested in maximizing profit. Use the following price and profit data to answer the followin..
Price ceiling is the law that sets a maximum price below the equilibrium market price, but a price floor is the law that sets a maximum price above the market equilibrium price.
A newspaper has a monopoly on the local news market in a town. The market demand is given by P=1.70-Q/20,000, making the marginal revenue MR=1.70-Q/10,000. The marginal cost is constant at equal to 0.80. The fixed cost is 2,000. So, the total cost is..
Solve for equilibrium real output and also solve for the equilibrium interest rate.
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Intra-industry trade may be associated with a smoother adjustment process than inter-industry trade because
q. remington inc. purchases a machine that costs 700000 and has an estimated useful life of 10 years a macrs property
Viennese artist Gustav Klimt's Portrait of Adele Bloch- Bauer was sold in New York for $135 million. Illustrate using supply and demand curve.
Provide a general explanation of how business may maximize profit within each market type.
if Bob bids $ 5, Alice bids $ 6 and Bob n passes, Alice gets $ 20 and pays $ 6 to auctioneer and Bob pays auctioneer $ 5. Both have $ 100 to bid. What is optimal strategy.
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