Pearson eText Economics -- Instant Access (Pearson+)
Pearson eText Economics -- Instant Access (Pearson+)
13th Edition
ISBN: 9780136879459
Author: Michael Parkin
Publisher: PEARSON+
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Chapter 1, Problem 3SPA

Explain how the following news headlines concern self-interest and the social interest.

  1. a. Starbucks Expands in China
  2. b. McDonald’s Moves into Online Ordering
  3. c. Food Must Be Labeled with Nutrition Data
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Considering the following supply and demand equations: Qs=3P-1 Qd=-2P+9 dPdt=0.5(Qd-Qs) Find the expressions: P(t), Qs(t) and Qd(t). When P(0)=1, is the system stable or unstable? If the constant for the change of excess of demand changes to 0.6, this is: dPdt=0.6(Qd-Qs) do P(t), Qs(t) and Qd(t) remain the same when P(0)=1?
Consider the following supply and demand schedule of wooden tables.a. Draw the corresponding graphs for supply and demand. b. Using the data, obtain the corresponding supply and demand functions. c. Find the market-clearing price and quantity. Price (Thousands USD)     Supply     Demand2                                           96          1104                                           196        1906                                            296       270 8                                            396        35010                                          496         43012                                           596        51014                                           696        59016                                           796        67018                                            896       75020                                            996       830
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