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MACROECONOMICS FOR TODAY

MACROECONOMICS FOR TODAY

10th Edition

ISBN:9781337613057

Author:Tucker

Publisher:Tucker

Chapter3: Market Demand And Supply

Section: Chapter Questions

Problem 16SQ

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Question

7

The market for a certain good is expressed
as;
Qs = x0 – ax1Pt + x2Xt + Ult
Qd = B0 – B1P + U2t
Qs = Qd = Qt 4
-
Where Qs and Qdare quantity supply and
demand respectively. Derive the reduced
form equation of Qt.

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The demand equation for school lunches is x=100-10pwhere x is the number of lunches purchases and p is the price in dollars. Which of the following represents E(p)? A) p/10-p b) -p/10-p c) p/20-p d) -p/100-10p e) p2/100-10p
I need help determining this one
NOTE: ANSWER ONLY 83 TO 85.

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