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Use the following general linear demand relation: Qd = 680 - 9P + 0.006M - 4PR where M is income and PR is the price of a related good, R. If M = $15,000 and PR = $20 and the supply function is Qs= 30 + 3P, equilibrium price and quantity are, respectively,A) P = $55 and Q = 195. P= $6 and Q = 38. P = $12 and Q = 200. P= $50 and Q = 170. P = $40 and Q = 250.
State the term- - GDP is a flow Lastly, note that GDP is a flow variable and not a stock variable. By a flow variable we mean a variable which is measured in something per uni
Calculating interest rates on a yearly basis If maturity is different from one year, interest rate is generally recalculated to a corresponding one year rate. For instance con
Consider an economy that having only of those who bake bread and those who make its ingredients. Assume that this economy's production is as follows: 1 million loaves of bread
explain and illustrate how the Lm curve is derived.
Suppose that a public park is visited by people living in five concentric zones around the park. Each zone has a population of 5000, and the total travel cost for a visit to the pa
let Y denote the number of "heads" that occur when two coins tossed. a) Derive the probability distribution of Y b) Derive the cumulative probability distribution of Y c)
You need to choose between two replacement compressor options. One costs $6400 and is 70% efficient. The other costs $9800 and is 85% efficient. Both have an average life of 8 year
Below is a simple/familiar (I hope) worksheet for the "Dice Game". Answer the following questions given the data for the each Work Center's scheduled production:
Why do some countries have a high real per capita income? High standard of living within the industrialized nations consider to be largely because of the high productivity of
Explain about the nominal Gross domestic product It isn't very common to use CPI in construction of real GDP. The reason is that CPI measures the price evolution of consumer go
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