Assume that demand and supply are a simple line. If at the different prices, quantity of demand and price is shows as under, then determine the demand and supply equation. Demand (D) Supply (S) Price (P) 2 40 50 5 20 60
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- Demand function: Qdt = 160 − 0.8PtSupply function: Qst = -20 + 0.4Pt−1and when P0 = 160a) A good should be designed in accordance with demand and supply,The equilibrium price is 160. Find the time path of the equilibrium price of this good.b) Comment on the use of this time path. Draw the passage of the time path.Question 4. Item prices and the amounts used for 1990 and 2020 are below. Use 1990 as the base. Item Price (1990 ) Quantity (1990) Price (2020) Quantity (2020) Aluminum (cents per pound) 0.30 1000 0.80 2000 Natural gas (1,000 cu. ft.) 0.20 5000 1.40 8000 Petroleum (barrel) 3.20 2000 4.20 4000 Determine Fisher’s ideal index for price. [1]Calculate the market basket prices for each period. See attached.
- A buyer for the exclusive Britique Shop purchased 100 cashmere pullover sweaters at $31each and priced them at $90 retail. Also planned is a purchase of 72 chunky knit wool sweaters to retail at $120each. Departmental goal markup is 67.5%. How much can be paid for each chunky wool sweater?The table below is extracted from Goodland Republic Bureau of Statistics records for 2016 -2017. Use the information to answer the questions that follow. Goodland Economy 2017 and 2018 Item Price 2017 Price 2018 Production Price per unit Production Price per unit Rice (000tons) 50000 1.5 55000 2 Wheat (000 tons) 100000 2 98000 2.5 Tractor mid size( units ) 50000 23000 45000 24500 Cotton (000 tons) 120000 100 110000 120 Used Cars (00) 5000 5000 6000 7000 Manufacture Garments (000 tons) 150000 50 145000 70 Eggs (000 trays) 2000 2.5 2300 3.5 Coca cola (000litres) 6000 0.8 6500 1.2 Pepsi cola (000 litres) 700 1.1 850 1.5 Beef (000 tons) 5000 6.5 4800 8.5 Second hand clothes (000 tons) 500 15 450 25 Alcoholic Beverages (000 litres) 500 3.25 600 3.75 Milk (000) 7000 2.3 7500 2.5 Examine the status of the economic welfare in Goodland Republic in 2018 based on your GDP deflator, nominal GDP and Real GDP. Also, explain the reasons why it is necessary to…1-23 Golden Age Retirement Planners specializes in providing financial advice for people planning for a comfortable retirement. The company offers seminars on the important topic of retirement planning. For a typical seminar, the room rental at a hotel is $1,000, and the cost of advertising and other incidentals is about $10,000 per seminar. The cost of the materials and special gifts for each attendee is $60 per person attending the seminar. The company charges $250 per person to attend the seminar, as this seems to be competitive with other companies in the same business. a.How many people must attend each seminar for Golden Age to break even? b.If 75 people were to attend, has the company made a profit or loss? (show your work and highlight the answer).
- At a price $13, there is a _of ___ units of goods.a. Estimate the demand equation for the product. Month Price Amount January 18 50 February 16 55 March 14 60 April 12 65 May 10 70 June 8 75 b. Estimate the supply equation that the product presents. Month Price Amount January 10 70 February 11 90 March 12 110 April 13 130 May 14 150 June 15 170 c. If that buyer and seller of the above data come together in a market, will it be possible for the breakeven point to be obtained? Use the graphical and mathematical process to find the solutionA seller can sells 3 diamond rings at a price of $12000 each . If he sells 4, his MR will be $10500. Calculate the price at which he can sell 4 rings.
- Calculate the price per unit if quantity sold is 34 units and the revenue generated out of it is $15009- Prices of the inputs in Vietnam were less compared to China. Companies started moving out of China, and they established large-scale production centers in Vietnam. The factor that is discussed here in this example is related to _____. a. Weather conditions b. State of Technology c. Government Policy d. Low cost of factors of production1-18 Katherine D’Ann is planning to finance her college education by selling programs at the football games for State University. There is a fixed cost of $400 for printing these programs, and the variable cost is $3. There is also a $1,000 fee that is paid to the university for the right to sell these programs. If Katherine was able to sell programs for $5 each, how many would she have to sell in order to break even?