Consider the rental market for apartments depicted below. Suppose excess supply at P3 is 39 units. What is P3 ?

Q: What are the benefits of considering the economic decisions?

A: Economic decisions are those decisions in which people will choose what to do with limited…

Q: I need help in solving this question because I'm not sure it's right?

A: The United State federal government passed the American Recovery and Reinvestment Act in 2009 was to…

Q: c. How much total consumer surplus will each of them receive at a price of $32?

A: Last parts C and d are answered below:

Q: The answers you provided are incorrect and incomplete.

A: A perfectly competitive firm is a price taker, which means it takes the price set by the market…

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A: Equation of a budget line is given by: Income = Px*X + Py*Y Where Px is the price of Good X and X is…

Q: can i have an explanation for each answer

A: Total Cost: Total Cost is computed through the formula that is, Total Cost = Fixed Cost + Variable…

Q: How can we simplify the decision-making process?

A: A business cannot take the decision making process lightly as the entire business relies and acts on…

Q: Are options b through e correct or incorrect?

A: A price ceiling is the commanded most extreme amount a dealer is permitted to charge for a product.…

Q: Could you please give me full detailed answer?

A: A pizza company runs its business in a franchisee mode and has decided to conduct a $1 promotion for…

Q: How do I solve the following problem?

A: We will use profit maximisation techniques to solve this question.

Q: What is the solution to question 6? I really need help with that one.

A: The amount of gas the buyers would be willing to purchase would drop if it turned out that 50% of…

Q: Not all of the questions were answered I was wondering if the rest could be answered for me.

A: International trade is defined as all the economic transactions in between the Teo countries is…

Q: Judging types O Miss deadlines Take a long time to make decisions Are judgmental people Come through…

A: "Judging type" is a term often used in personality typing systems like the Myers-Briggs Type…

Q: Could you solve question D as well

A: The term "LM" stands for the Liquidity-Money Supply framework, an economic model that depicts the…

Q: Rational decision-making will likely generate a better "economic" outcome vs. emotional…

A: In economics, there is a basic assumption that consumers are rational in their decision making. This…

Q: There are 15 dozen eggs in a case. The case costs $ 22.56. What doe one egg cost?

A: A dozen consists of 12 units, so we first calculate total number of eggs 15 dozens=15×12=180

Q: Hi, there. I need a clarification of question number 1, which choice is the best answer?

A: The supply curve will shift to the left whenever there is an increase in the cost of production.

Q: Something that is perceived as a luxury rather than a need is something that brings pleasure.…

A: Luxury things are something contrary to need(necessity) products or need costs, which are the…

Q: I need help for these questions l.

A: Based on this model, households earn income when firms purchase factors of production in the market…

Q: A pharmaceutical corporation has developed a unique new drug, making the company a monopoly. Demand…

A: For a monopoly, profit maximization occurs at the point where MR equals MC