he demand and supply curves for a produ are given by respectively, where p is the price and q is the quantity of the product. (a) Find the equilibrium price and quantity. P= 60 q=2700-30p and q = 40p - 1500, 9900

Q: If the price elasticity of demand for a product is equal to 1.5, then a decrease in price of 4…

A: Given: Elasticity = 1.5 Decrease in price = 4%

Q: You buy 2000 shares of XYZ for $50 with 55% margin. Three months later the price is $60. What is the…

A: Investment buying power refers to the amount of money that an investor has available to purchase…

Q: rease in the short run ease in the short run

A: Cash balance refers to the part of income that people want to hold as cash in hand.

Q: Consider the hypothetical country of Pelee. Suppose that national income in Pelee is $30 billion,…

A: In the given question we are given with,national income(Y)= $30 billiontax(t)= $10 billion,…

Q: 7. According to McCluskey, how are changing consumer preferences affecting demand for breakfast…

A: Market demand for a commodity can change as a result of a change in consumers income, their tastes…

Q: When the two countries did not specialize, the total production of jeans was 23 million pairs per…

A: Comparative cost advantage: - it is a principle of international trade given by David Ricardo which…

Q: If nominal GDP is $7,600 billion and the GDP deflator is 121, then real GDP is: O $9,196 billion O…

A: Real GDP measures the market value of goods and services using constant sets of prices.

Q: 12 Question See page 444 Demand for alcohol has been present for much of human history, but supply…

A: Step: 1(Part 1)In the long run, the price of wine will be $150 per bottle. This is because the price…

Q: In 2019 Zanadu had a total population of 550 pcople. Out of that 550 pcople; 110 We 120 wcrc not in…

A: Total population = 550 Population under age of 16 = 110 Population not in the labor force = 120…

Q: 6. Tom has a weekly allowance of $24, all of which he spends on pizza and movie rentals. Pizza costs…

A: Utility is the measurement of satisfaction or joy or happiness u get while consuming the goods and…

Q: c) What does your answer to (b) suggest about the price elasticity of demand for eggs? The price…

A: Price elasticity of demand  It is a gauge of how price-sensitive the quantity demanded is. For…

Q: 7. According to the graph below, the equilibrium price in the market before the tax * is imposed is…

A: Market equilibrium: At the market equilibrium we have demand equals to supply. Or at market…

Q: For a certain company, the cost function for producing a items is C(x) = 40 + 150 and the revenue…

A: Profit is the money you have left after paying for business expenses. In business usage, it is…

Q: Answer b thru d

A: (b) Profit maximising output for a monopoly is where MR=MC; In this case it is at 3 cars; Now we…

Q: Show your calculations, show the area of each surplus and DWL on the graph. d) Assume now, that the…

A: Price floor is imposed by government in which it sets the price of a good above the equilibrium…

Q: Dollars MR₁ MR 0 O Multiple Choice O Q O O Quantity Refer to the diagram for a non-collusive…

A: The oligopoly markets have the firms that have a small number of suppliers This market has entry and…

Q: If consumption is $5 billion when disposable income is 0, and if the marginal propensity to consume…

A: When individuals work, they receive payment in exchange for labour. This payment is then used by…

Q: Suppose Italy and Portugal produce only cloth and wine. Assume that each country uses only labor to…

A: Comparative advantage refers to the situation where one party can produces the goods and services at…

Q: In the economy of Ukzten in 2010, consumption was $3,000, exports were $400, GDP was $5,000, imports…

A: Government spending refers to money spent by the public sector on the acquisition of goods and…

Q: I did upload one question at a time but I kept getting a regetted and had no choice. Thank you for…

A: When making daily decisions, both people and small businesses can more accurately assess market…

Q: Assume the following demand curve: Q = 50,400 1,200(P). Variable costs are estimated to be $25.06.…

A: Total revenue and variable costs: Total revenue is the total value of the commodities produced and…

Q: Producer surplus is the difference between the amount that suppliers in the market are willing to…

A: Producer surplus is the surplus earned by the producers.

Q: Page 1 of 1 Answer each of the following questions and don't forget to indicate the sign (positive…

A: Economic profit is the money left over after all direct and indirect expenses have been paid.…

Q: Which of the following is considered investment by economists? O I purchased a $10,000 Treasury bond…

A: Investment in economics is the purchase of capital goods or goods that stimulate production of other…

Q: A distributor of fasteners is opening a new plant and considering whether to use a mechanized…

A: The point of indifference, also known as the breakeven point, is the level of production or sales at…

Q: Question 2 - The total potential market for a spiral-bound notebook is D = 20,000, and willingness-…

A: Price-response function: it can be explained as identifying that if the producer lowers the price of…

Q: age 65 he can make a guaranteed annual withdrawal of $40,000 forever without touching the corpus,…

A: Present worth is the amount of cash that should be put resources into request to accomplish a…

Q: In 1950, Nicaragua and Brazil had roughly the same size economies. Now, Brazil's economy is almost…

A: A developed economy has better resources in production process. Better technology and skill set…

Q: e first row of the following table. echanism timization Short Run Quantity Price (Subscriptions)…

A: Note: (i) Profit is maximized at intersection of MR & MC bends. (ii) Profit = Output * (Price -…

Q: If the CPI increases from 135 in 2006 to 154 in 2007, the rate of inflation between 2006 and 2007…

A: Consumer price index measures the change in cost of market basket of goods and services a typical…

Q: Pls answer fast Dont take time

A: Here is your required answer please give me helpful rating. Thank you!Explanation:Solution:-  Demand…

Q: Labor required Capital required (person-hours) 200 Method (machine-hours) Т-1 100 Т-2 150 150 Т-3…

A:

Q: a farmer in Georgia begins to grow peaches. He uses $1.000.000 in savings to purchase land. he rents…

A: Both Economic profit and Accounting ptofit solved below,

Q: Year CPI 2010 189 2011 211 Consider the data in the table above of the consumer price index for 2010…

A: CPI is measured using fixed basket of goods.

Q: Consider the three figures below, depicting possible cost functions for a firm. The horizontal axis…

A: This can be defined as a cost that shows the type of cost that an individual, business, or any other…

Q: im not sure if it is C

A: Price elasticity of demand is the change in quantity demanded divided by proportionate change in…

Q: 13. According to the graph below, the equilibrium price in the market before the tax is imposed is ⠀

A: The equilibrium is established where the demand and supply are equal. The imposition of tax leads to…

Q: -llows: U(Q,Qa) = Q.*Qu onald has an income (I) of $120 and the price of carrots (Pe) and donuts…

A: ANSWER A and B part

Q: specializes in labor market work. If they still need to each eat 3 meals per day (for a total of 6…

A: Comparative Advantage refers to the ability of an individual or a country to produce a particular…

Q: 1. The Nash bargaining solution between the employer and the worker satisfies the fol- lowing…

A:

Q: (Figure: Determining Surplus and Loss) In the graph, consumer surplus is price of $5. P 16 12 8 5 2…

A: One way to measure the advantages that people have over rival markets is through consumer surplus.…

Q: Use the following consumer data for housing, energy, and food purchased in the year(s) 2017, 2018,…

A: Consumer price index is an index to measure change in cost of basket of goods and services bought by…

Q: Year CPI 2010 189 2011 211 Consider the data in the table above of the consumer price index for 2010…

A: Base year is the year whose quantity is used in the market basket of goods and services used to…

Q: Based on the 200 countries 200 years video, in 1810, on the southwest corner of the screen: All…

A: To explain the changes in the global health and their economic growth and development since 1810, a…

Q: Question1 Imagine you work for a firm that only utilizes labor and capital as inputs and has a CE…

A: Production function : q =  f(L , K ) = [αLρ+ βKρ]γρ  α=β = 0.5 , γ = 1 , ρ = 0.5 Putting in values…

Q: 1-Use the graph to answer the questions. Typical Computer Firm Price or Cost (dollars per computer)…

A: A firm maximizes profit at the point where the additional revenue equals additional cost. At this…

Q: 1. You borrowed $100,000, agreeing to pay the balance in 10 equal annual installments at 8% annual…

A: