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Find quantity supplied and quantity demanded:
Suppose there are 300 used cars, with 3 quality levels: bad, medium, and good. A seller knows the quality of his car but a buyer does not. The only thing buyers know is that 100 of all used cars are bad, 100 medium, and 100 good. The values of each type of car to a seller and a buyer are:
a) Let P denote the price of a used car. Find quantity supplied (Q ) and quantity demanded (Qd) of cars if P ≥ 3000. b) Find Qs and Qd if 2000 ≤ P < 3000. c) With quantity (Q) on the horizontal axis and price (P) on the vertical, draw the supply curve for cars. Then draw the demand curve assuming that there is an infinite number of buyers. Label the curves and key points in your graph clearly. d) In equilibrium, what is the price and quantity of cars? What kind(s) of cars are traded?
What is the development gap? The development gap refers to the divergence between standards of living in the developed and developing world. As like Source World Bank:
Illustrate liberalise or open up trade in market for promoting development? Liberalise or open up trade implies that: • Abandoning fixed exchange rates and elimination of re
Equation (1) gives a hypothetical demand curve for hybrid vehicles in the United States during the year 2000, where Q is the quantity demanded and P is the price. Equation (2) giv
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What is Foreign Debt Management? Debt management considers as to the arrangements made to: • Protected the suitable amount of borrowing to deliver growth • Ignore excess
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Hoe to reduce above mentioned issue.
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