I FINALLY DID IT! I TURNED LEAD INTO GOLD! NOW I CAN USE CHEAP DUE TO FLUXUATIONS IN LEAD AND MAKE TONS SUPPLY AND DEMAND, THE PRICE OF GOLD PLUMMETED TO 75¢ A POUND, WHILE LEAD SOARS TO$6,500 AN OUNCE. OF VALUABLE GOLD.
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- Suppose the current exchange rate is 115 yen perdollar. We currently have a demand for 50 units of ourproduct when the unit price is 800 yen. The cost ofproducing and shipping the product to Japan is $6, and the current elasticity of demand is 22.5. Find the opti-mal price to charge for the product (in yen) for each of the following exchange rates: 60 yen/$, 80 yen/$, 100yen/$, 120 yen/$, 140 yen/$, and 160 yen/$. Assumethe demand function is linear.Hula Products has reintroduced the hula hoop to the world and faces a growing demand for its product in two distinct markets: the United States and Europe. Demand in these markets is: PU = 20 - .1QU and PE = 10 - .05QE., where all quantities are expressed in thousands of units (i.e. QU = 50 means 50 thousand units). Hula can produce hoops at no cost. The maximum Hula can produce is 80 thousand hoops. How many should be sent to Europe (QE)? Enter as a value (answer should be between zero and 80).Suggest plausible factors which could have an impact on the demand and supply of oil in the near term.o Argue whetheron balance these effects are expected to push oilprices up, down, or keep them stable.o Include diagrams as appropriate.
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- During the night, the electricity sector has a marginal cost of $1/MWh (megawatt-hour) forthe first 100 MWh produced (from wind turbines), and $20/MWh for each additional unit (from gasgenerators). During the day, they have a marginal cost of $1/MWh (megawatt-hour) for the first 50MWh produced (from solar panels), and $20/MWh for each additional unit (from gas generators).Nighttime and daytime demand are given by QnightD = 50 −P and QdayD = 200 −P , respectively.What are the market quantity and price during the day, and the market quantity and price at night?This is a model of the wholesale market for electricity, which you can think of as being competitive,but there is no resale between night and day.Ma3. 15) The US. has run down the nation's SPB, Strategic Petroleum Reserve, to levels not seen it since March 1984! At1.0million bbls per day, what was the impact on the global oil price if there was no countermeasure employed by OPEC+? Knowing that Russian oil production has declined and is expected to be1.1million bbls per day less than prewar levels AND the 1.0 million bbls per day that are coming off the market due to the end of the SPB release-let's say in March 2023. What do you expect to happen to the price of oil?a. Explain the main reasons that caused a fall of the oil price started in 2015. b. Is the elasticity of demand and supply for oil in the short-run elastic or inelastic? Explain why? please make sure the answer is correct 100% and to answer in your words.
- Systems applicationSolve and analyze the following problems. Make sure all the steps are properly justified. Correctly use mathematical notation or terminology. Interpret the solution in the context of the problem.Suppose the supply and demand equations for printed shirts for a graduating class are given byp = 0.7q + 3p = -1.7q +15where p is the price in dollars and q is the quantity in hundreds.Determine supply and demand if the shirts cost $ 9.00. Analyze and discuss the stability of the shirt market at this price level. Prepare the graph of the two equations in the same coordinate system and identify the equilibrium point, the supply curve, and the demand curve.Suppose the U.S. economy began to grow more rapidly than other counties in the world. What would be the likely impact on U.S. financial markets as part of the global economy?Price differences in “similar” products in different countries often exist. What canexplain those differences?