Use the following table to answer the question below for an economy that has a government and trades with other countries. Allnumbers are in billions.Level of OutputConsumption InvestmentGovernment Net ExportsPurchases$240$244$4$6$2$260$260$4$6$2$280$276$4$6$2$300$292$4$6$2$320$308$4$6$2$340$324$4$6$2$360$340$4$6$2$380$356$4$6$2$400$372$4$6$2The equilibrium level of GDP (output) will be:O a) $360b)$320c) $260d) $280

solution : correct answer is option b $320 explanation for the equilibrium GDP following equation…

Answered: Use the following table to answer the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Assume Country X has an electricity market with supply and demand being given below: Qp = -Pp + 200 Qs = -3Ps + 300 Part C- horizontally-integrated market If the government decides to reform the electricity market so that there are a number of power plant firms as well as a number of electricity distribution firms. The electricity market will now be controlled by a regulator using an auction system. A sample of the bids is given by the table below: Electricity Producers Electricity Distribution Asking price / KWh quantity/KWh Asking price / KWh quantity/KWh 0.74 25 0.56 30 0.32 20 0.34 60 0.46 35 2$ 0.55 25 0.53 25 0.64 25 0.64 30 2$ 0.43 40 By studying the bids, 1· Find the range of the equilibrium market price 2. Find the equilibrium market quantity 3. Find the total welfare
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