Explain Equilibrium of the Market and how price is determined?

Q: Opose that the price of a movie ticket changes 20 % and quantity demanded changes 49 %, th the given…

A: Introduction Demand elasticity significantly alters the idea of demand. Demand can be divided into…

Q: a Q5.39 Homework. Answered Suppose that the demand for shoes is elastic, but the supply is…

A: # Demand for shoes is elastic whereas the supply is inelastic # Both the demand and the supply for…

Q: Imagine that the table shows the quantity demanded of UGG boots at five different prices in 2021 and…

A: After analysing the provided table, it can be deduced that the demand curve for UGG boots has…

Q: Consider an increase in government spending. Assume that the economy is initially operating at the…

A: Aggregate demand is the total demand for goods and services in an economy at the given price level.…

Q: Toma and Kana can produce either books or shoes. If they spent all of their time producing one of…

A: To find the comparative advantage we have to find the opportunity good of producing books and shoe's…

Q: The PPFs below shows how many airplanes and pizzas Country A and Country B can produce with a…

A: Comparative advantage means that a country has an advantage in producing a good relative to the…

Q: Given Q = 10L0.75 K0.5, w = 5, r = 4 and cost constraint = 60, find the values of L and K using the…

A: The production function exhibits the relationship between the inputs and the output.  Inputs are the…

Q: Home Announcements ages Assignments Grades People Files Modules IU eTexts (Unizin Engage) Syllabus…

A: Here, in the given table, quantity demanded decreases and quantity supplied increases, with the…

Q: The price of paint increased by 18 %. As a result the quantity of paint produced increases by 27 %.…

A: Give Increase in price = 18 % Change in supply of paint = 27 %

Q: Based on the utility maximizing rule, Is Angel maximizing their utility? OYes ONO ONot enough…

A: Utility maximisation level is the point where slope of Indifference curve is equal to the slope of…

Q: If total GDP for this economy is $17.04 trillion for the year shown in the table below, what was the…

A: Exporting alludes to the selling of goods and services from the nation of origin to a foreign…

Q: A young man has decided to go into a business at age 40. He wishes to accumulate P200,000 at that…

A: Given,  Future value FV = P 200,000 Growth rate g = 10%Interest rate r = 9.6%

Q: Consider the market for minivans. For each of the following events, identify which of the…

A: Demand curve The demand curve displays the amounts of a specific commodity or service that…

Q: If the price of an apple is $.50, the marginal utility per dollar spent for the fifth apple Number…

A: Answer: Marginal utility per dollar: marginal utility per dollar is calculated by dividing the…

Q: What is the difference between the short-run and long-run production periods? Why is it relevant to…

A: The maximum number of finished goods that can be produced with the given production factors, at a…

Q: Write short notes on  Mercantilism Absolute Cost advantage theory Leontief Paradox  Contract…

A: DISCLAIMER  “Since you have asked multiple question, we will solve the first 3 subparts for you. If…

Q: discuss the scope and importance of monetary economics to the feild of economics

A: Economic theory is concerned with the production, distribution, and consumption of goods and…

Q: Given the following demand and supply equations: Demand Qd= 100 - 2P Supply QS = 10 + P…

A: Given information: Qd = 100 - 2P -----------> Demand equation Qs = 10 + P --------------->…

Q: Question 14 options: Most of the WTO's current trading policies are from 1986 – 1994 negotiations,…

A: International Trade is the buy and offer of labor and products by organizations in various nations.…

Q: Which of the following would cause both the equilibrium price and equilibrium quantity of barley…

A: Here, it is given that barley is an inferior good, which implies that its demand will be inversely…

Q: Review the graph at right for a monopoly market (enter all of your responses as whole numbers) How…

A: The part of the total surplus of the competitive market which lost in monopoly pricing is called…

Q: Using the table below, calculate real GDP (in billions of dollars) in 2006. Round your answer to the…

A: Economic health is measured by real GDP rather than nominal GDP since real GDP is unaffected by…

Q: This graph shows an increase in aggregate supply in a hypothetical economy where the currency is the…

A:

Q: The Foreign Exchange Market The Jamaican dollar experienced a rapid depreciation in the exchange…

A: The government of Jamaica should look at both pros and cons of shifting from floating exchange rate…

Q: Identify which limitation of GDP is relevant to each example. a. The U.S. Department of Commerce…

A: Disclaimer- “Since you have asked multiple questions, we will solve the first three questions for…

Q: With the recent war between Russia and Ukraine, the production and thus exports of wheat have…

A: At Equilibrium Price,  quantity demanded and supplied are equal to each other. Change in demand…

Q: Which of the following does NOT describe the comparative advantage? Select one: a. Economic agents…

A: Comparative advantage arises when an individual can produce a good at a lower opportunity cost in…

Q: Suppose your total benefits of renting x DVD's next month is: -²2² +14x+50 The cost of renting a DVD…

A: Total net benefit is the difference between total benefit and total cost.

Q: The RBI has toned down its expectation of the stress that banks may face as a result of the Covid…

A: Economic activity: It refers to the process that helps in the economic growth of the economy. The…

Q: A man deposit ₱1,00,000,000 for one year which pay an annual interest of 6%. The income is taxable…

A: Given,  Amount of Deposit : P1,00,000,000 Interest rate : 6% Withholding tax : 20%

Q: [22] According to the Areeda-Turner rule, pricing below predatory pricing. A. B. C. D. total revenue…

A: We know that Predatory Pricing is a strategy in which the prices are deliberately reduced on…

Q: 5. Convert the following cash flow pattern to a uniform series of end-of-year costs over a seven…

A: Present worth (PV) is the ongoing worth of a future amount of cash or stream of income given a…

Q: If the coffee company Starbucks raises the prices it charges its customers, and Starbucks says they…

A: Elasticity of demand refers to how quickly the amount of a good is demanded in response to changes…

Q: A consumer has preferences over bundles of two goods with indifference curves defined by x2 = for k…

A: Given:  x12 x2 = k MRS = MUx1MUx2 = 2x1 x2x12= 2 x2x1

Q: Assignment (1) Compatibility Mode. Saved to this PC ✓ esign Layout References Mailings Review View…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: 2. Another monopolist graph is shown (right), use the graph to answer 2a - 2c. a. In order to…

A: The monopoly market refers to the market where only single firm exists in the market. There is no…

Q: Given Q = 5L² + 8K² - 2LK, w = 1, r = 1, find the values of L and K which will minimize total input…

A: Total cost alludes to the total expense caused in arriving at a specific degree of output; on the…

Q: The price of a gallon of gas moves up and down often. What this means is that, most of the time, the…

A: Answer: The price of gasoline is very volatile in nature. The supply and demand for gasoline change…

Q: The following table pertains to an economy in which the typical consumer's basket consists of 15…

A: A basket of goods represents the spending by consumers and helps on tracking changes in the prices…

Q: Refer to Figure 8-2. Producer surplus without the tax is Ⓒa. $10, and producer surplus with the tax…

A: Equilibrium in the market occurs at the intersection of demand and supply curves.

Q: Find the numerical value of the factor (A/G,12.7%,20)

A: (A/G,12.7%,20) is known as uniform gradient uniform series.  General expression of this series is…

Q: How much should I invest today and expect a reimbursement every other month with a rate of 8.0%…

A: The present value of an annuity will be computation the current value of periodic payments in future…

Q: A company finds that there is a linear relationship between the amount of money that it spends on…

A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: The figure above shows that for the 10,000th ticket, marginal benefit equals, and consumer surplus…

A: Here we are given the demand schedule which represents different combinations of price and quantity…

Q: The following graph shows an aggregate demand (AD) curve and a short-run aggregate supply (SRAS)…

A: Given,  An Aggregate Demand curve (AD) and Short Run aggregate supply (SRAS) curveThe economy is…

Q: The table below shows the production possibilities in Mistania between 2014 and 2015. Using the…

A: “Production Possibility Curve is a curve which shows various combination of two goods that can be…

Q: Why is the marginal benefit curve downward sloping and why is the marginal cost curve upward…

A: When talking about marginal cost and marginal benefit, it can be said that marginal cost is the cost…

Q: The following graph shows the aggregate demand curve in a hypothetical economy. Assume that the…

A: Given,  The Aggregate Demand curve in a hypothetical economyThe money supply in the economy remains…

Q: Suppose a market is in equilibrium, a rightward shift in the supply curve will NOT yield a) an…

A: Equilibrium is the point where both demand curve and supply curve intersect each other. The price at…

Q: October 2020 on Sandy Island, 20,000 were employed, , 1,000 were unemployed, and 3,000 were not in…

A: Unemployment is a situation where people do not have jobs and are searching for the new one.