Please solve a) and b)thanks. 6. Find the equilibrium solution for each of the following models:(a) Qd = QsQd = 3 - p2Q; = 6P - 4(b) Qd = QsQd = 8 - p2Q, = p2 - 2

Here, two different models of demand and supply are given and the equilibrium in both the model can…

Answered: 6. Find the equilibrium solution for…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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As the cost of energy falls relative to labor in Figure 2-8, and the isocost curve shifts from HJ to FG, firms have an incentive to switch to technology in order to their costs. 4 Tonnes of coal 10 9 8 S 3 2 1 N G Cost-E50 Cost-E40 B F M Cost-E80 H 1 2 3 4 5 6 7 8 9 10 Number of workers
Let f(t) be the balance in a savings account at the end of t years and suppose y = f(t) satisfies the differential equation y' = 0.05y - 12,500. (a)Suppose that after one year the balance is $230,000. Is the balance increasing or decreasing at that time? At what rate is it increasing or decreasing at that time? (b)Write the differential equation in the form y' = k(y - M). (c)Describe the differential equation in words. %3D %3D (a) The balance is decreasing at a rate of $ - 1000 per year. (b) y' = .05(y - 230000) (c) Choose the correct answer below. A. The rate of change of the savings account balance is proportional to the balance at the end of t years and is always increasing. B. The rate of change of the savings account balance is proportional to the difference between the balance at the end of t years and $250,000. C. The rate of change of the savings account balance is proportional to the balance at the end of t years and is always decreasing. D. The differential equation gives the…
Q.3 - An economist has estimated demand of D = 1000 − P and Supply of S = 400 + 10R for onions, where R is the number of days of rainfall. (a) Plot the demand and supply curves. (b) Show the equilibrium quantity and the equilibrium price on the graph. (c) Use Algebra to determine the equilibrium price and quantity (d) Use a new graph of demand and supply curves to show the effect of an increase in rainfall
Why is it important to use Cash Flows in Economic Analysis?
I think the question b should be $500,000 NOT $5,000,000
Question 2 (a)
A newly appointed Minister of Finance is to effectively stimulate the economy within 3 months. He then asks his group of advisors about it and they come up with 3 projects as follows: A. A money transfers of 3,000 THB per month for 3 months to unemployed people; B. Provide attractive co-payment (30% paid by government and 70% paid by travelers) travel packages for tourists to travel within the country for the period of 3 months; C. Build bridges, roads and small dams for a total of 1,000 projects with an emphasis on hiring local people and these projects are to be completed within a 3-months period. The Minister of Finance then contacts the Budget Bureau for the money to do these projects. The Budget Bureau tells him that there is enough money to do only 1 project. The Minister does not sure which project to choose so he turns to you for advice. His questions to you are 1. Which one of the 3 projects should he implements? Explain 2. Why the other 2 projects are not to be implemented?…

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6. Find the equilibrium solution for each of the following models: (a) Qd = Qs Qd = 3 - p2 Qs = 6P - 4 (b) Qd = Qs Qa = 8 - p2 Q; = p2 - 2 %3| %3D %3D