part 4 5 6........... (Part 2)Price (dollars in monthly rent)$900$800$700$600$500$400$300$200$1000Price$400$500$600$700$800DoD₁E₁12,00015,00017,00019,00020,000E₁Excess demandor shortagefrom price ceilingSo10 11 12 13 14 15 16 17 18 19 20 21 22 23 24Quantity (thousands of rental units)Price ceilingset hereOriginal OriginalNewQuantity Quantity QuantitySupplied Demanded Demanded18,00015,00013,00011,00010,00023,00019,00017,00015,00014,000Questions below are based on the figure above: Questions below are based on the figure above:1) What is the original equilibrium price and quantity?2) Effect of greater income or change in tastes shifts the demand curve for rental housing to theright? What does this imply?3) With change in demand what is the new equilibrium price and equilibrium quantity?4) Equilibrium at E1 is with or without the government intervention?5) Govt. imposes a price ceiling to prevent the price from rising. Look in the graph and tell whatis the price imposed by ceiling?6) Since the price is not permitted to rise due to ceiling, the quantity supplied remains at whatpoint?7) How much is the excess demand or shortage resulting from ceiling?8) Is the price ceiling shown in the graph above 'binding' or 'non-binding'? Please explain why?

A price ceiling refers to a restriction imposed by the government on the maximum price that can be…

4) Equilibrium at E1 is with or without the government intervention? 5) Govt. imposes a price ceiling to prevent the price from rising. Look in the graph and tell what is the price imposed by ceiling? 6) Since the price is not permitted to rise due to ceiling, the quantity supplied remains at what point?

4) Equilibrium at E1 is with or without the government intervention? 5) Govt. imposes a price ceiling to prevent the price from rising. Look in the graph and tell what is the price imposed by ceiling? 6) Since the price is not permitted to rise due to ceiling, the quantity supplied remains at what point?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Prepare an excel sheet for undergiven answers:please prepare excel sheet ....5. Cost of Inventory Sold: Cost of jeans sold: 16 * $19 = $304Cost of sweaters sold: 2 * $9 = $18Cost of purses sold: 2 * $27 = $54Cost of suits sold: 2 * $67 = $134Total Cost of Inventory Sold = $304 + $18 + $54 + S134 = S510 6. Gross Margin: Gross Margin = Total Gross Sales - Total Cost of Inventory Sold Gross Margin = $1,418 - $510 = $908 7. Direct Expenses for the Month: Advertising: $200Salaries: $500Rent expenses: S200Total Direct Expenses for the Month = $200 + $500 + 5200 = S900 Direct Expenses for the Day (assuming a 31-day month) = Total Direct Expenses for the Month / 31 Direct Expenses for the Day = $900 / 31 = $29.03 8. Indirect Expenses for the Month: Water: $75Electricity: $89Insurance: $60Total Indirect Expenses for the Month = $75 + 589 + 560 = 5224 Indirect Expenses for the Day (assuming a 31-day month) = Total Indirect Expenses for the Month / 31 Indirect Expenses for the Day = $224 / 31 =…
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A clothing merchant purchases a shipment of clothes for $38,000.00 with discounts of 11% and 5%. He sells it to a customer at a price which includes 22% profit on selling price and overhead expenses of 23% on selling price. a. How much did it cost him to purchase the container of clothes? b. What was the selling price of the container of clothes? c. Calculate the break-even selling price.
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Neema owns a rental property. Her tenant, Elena, had a job change and moved out of town. She had paid $1,200 rent per month, January through October of 2022. Per the lease, Elena paid an early lease cancellation penalty of $1,000. Neema was unable to rent the property to a new tenant until January 2023, when Kaiser moved in and began paying $1,200 per month. How much total rental income does Neema report for 2022? $12,000 $13,000 $13,200 $14,400 Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
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