Economics (Book Only)
12th Edition
ISBN: 9781285738321
Author: Roger A. Arnold
Publisher: Cengage Learning
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Chapter 5.3, Problem 2ST
To determine
The
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The quantity demanded of Fitbit devices is 8,025 units when the price is $260. At a
unit price of $200, demand increases to 10,000 units. The manufacturer will not market any
of the device at a price of $100 or less. However for each $50 increase in price above $100,
the manufacturer will market an additional 1,000 units. Assume that both the supply equation
and the demand equation are linear.
a) Find the supply equation.
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Consider the demand for shrimp shown in Figure 2. Suppose the current demand for shrimp is D (in black), the current price of a pound of shrimp is $10, and the current quantity demand for shrimp is 200K. Which of the following correctly describes a decrease in the demand for shrimp, assuming the price of a pound of shrimp remains at $10?
A) The demand curve for shrimp shifts right from D (black) to D' (blue), and the quantity demand for shrimp decreases from 200K pounds to 150K pounds.
B) The demand curve for shrimp shifts left from D (black) to D'' (red), and the quantity demand for shrimp decreases from 200K pounds to 150K pounds.
C) The demand curve for shrimp shifts right from D (black) to D' (blue), and the quantity demand for shrimp increases from 200K pounds to 270K pounds.
D) The demand curve for shrimp shifts left from D (black) to D'' (red), and the quantity demand for shrimp increases from 200K…
Suppose products A and B have demand and supply equations that are related to each other. If
q Subscript Upper AqA
and
q Subscript Upper BqB
are the quantities produced and sold of A and B, respectively, and
p Subscript Upper ApA
and
p Subscript Upper BpB
are their respective prices, the table below shows the demand equations and the supply equations. Eliminate
q Subscript Upper AqA
and
q Subscript Upper BqB
to get the equilibrium prices.
demand equations
supply equations
q Subscript Upper AqA
equals=33minus−p Subscript Upper ApAplus+p Subscript Upper BpB
q Subscript Upper AqA
equals=minus−77plus+66p Subscript Upper ApAminus−22p Subscript Upper BpB
q Subscript Upper BqB
equals=2222plus+p Subscript Upper ApAminus−p Subscript Upper BpB
q Subscript Upper BqB
equals=minus−33minus−22p Subscript Upper ApAplus+66p Subscript Upper BpB
Question content area bottom
Part 1
The prices are
p Subscript Upper ApAequals=$
enter your response…
Chapter 5 Solutions
Economics (Book Only)
Ch. 5.1 - Prob. 1STCh. 5.1 - Prob. 2STCh. 5.2 - Prob. 1STCh. 5.2 - Prob. 2STCh. 5.3 - Prob. 1STCh. 5.3 - Prob. 2STCh. 5.4 - Prob. 1STCh. 5.4 - Prob. 2STCh. 5.5 - Prob. 1STCh. 5.5 - Prob. 2ST
Ch. 5.6 - Prob. 1STCh. 5.6 - Prob. 2STCh. 5.7 - Prob. 1STCh. 5.7 - Prob. 2STCh. 5.8 - Prob. 1STCh. 5.8 - Prob. 2STCh. 5.9 - Prob. 1STCh. 5.9 - Prob. 2STCh. 5.10 - Prob. 1STCh. 5.10 - Prob. 2STCh. 5.11 - Prob. 1STCh. 5.11 - Prob. 2STCh. 5.12 - Prob. 1STCh. 5.12 - Prob. 2STCh. 5.13 - Prob. 1STCh. 5.13 - Prob. 2STCh. 5 - Prob. 1VQPCh. 5 - Prob. 2VQPCh. 5 - Prob. 3VQPCh. 5 - Prob. 4VQPCh. 5 - Prob. 1QPCh. 5 - Prob. 2QPCh. 5 - Prob. 3QPCh. 5 - Prob. 4QPCh. 5 - Prob. 5QPCh. 5 - Prob. 6QPCh. 5 - Prob. 7QPCh. 5 - Prob. 8QPCh. 5 - Prob. 9QPCh. 5 - Prob. 10QPCh. 5 - Prob. 11QPCh. 5 - Prob. 12QPCh. 5 - Prob. 13QPCh. 5 - Prob. 14QPCh. 5 - Samantha is flying from San Diego, California to...Ch. 5 - Prob. 16QPCh. 5 - Prob. 17QPCh. 5 - Prob. 1WNGCh. 5 - Prob. 2WNGCh. 5 - Prob. 3WNGCh. 5 - Prob. 4WNGCh. 5 - Prob. 5WNGCh. 5 - Prob. 6WNGCh. 5 - Prob. 7WNGCh. 5 - Prob. 8WNG
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