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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.
On the day his son was born, a father decided to establish a fund for his son's college education. The father wants the son to be able to withdraw $4000 from the fund on his 18th b
Explain how changes in the quality of health care will influence the demand for care.
what is gdp
The inhabitants of Fantasia live for two periods, 0 and 1. They consume a nonrenewable resource called Fantasium in each period. Fantasium has to be extracted from the ground and t
illustrate and discuss the implications of various market structures (competitive and non-competitive)for price determination.
graph the central equation of the solow model. argue that a steady state exists and that the economy will converge to this point from any initial starting capital stock
A government subsidy to the producers of a product: A. reduces product supply. B. increases product demand C. increases product supply. D. reduces product demand.
Good X is produced in a competitive market using input A. Explain what would happen to the supply of good X in each of the following situations. The price of input A decreases.
Show the market for cigarettes paying particular attention to the price elasticity of demand and supply. What would happen to the total expenditure on cigarettes if there was a tax
if we impose any rule and regulation on clasical model like not expoit polutionso what is effect on factor of clasical model
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