Suppose the world supply curve is p = 20+ 0.02Q, and the demand curve of other countries of the world is p= 80 -0.02QD. The excess or residual supply function is OA. S'(p)= -3,900 + 100p. OB. S' (p) -5,000 + 100p. OC. s' (p) -5,500 + 100p. OD. S(p)= -6,000 + 100p. The excess or residual supply at a price of $60 is OA. 3,000 O B. 1,000 O C. 2,000 O D. 500

Suppose the world supply curve is p = 20+ 0.02Q, and the demand curve of other countries of the world is p= 80 -0.02QD. The excess or residual supply function is OA. S'(p)= -3,900 + 100p. OB. S' (p) -5,000 + 100p. OC. s' (p) -5,500 + 100p. OD. S(p)= -6,000 + 100p. The excess or residual supply at a price of $60 is OA. 3,000 O B. 1,000 O C. 2,000 O D. 500

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Suppose the world supply curve is p = 20 +0.02Q, and the demand curve of other countries of the world is p= 80 -0.02Qp. The excess or residual supply function is
OA. s' (p) = -3,900 + 100p.
B. s' (p)=
-5,000 + 100p.
OC. s' (p) = -5,500 + 100p.
D. s' (p)= -6,000 + 100p.
The excess or residual supply at a price of $60 is
A. 3,000
O B. 1,000
O C. 2,000
O D. 500

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