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- find the optimal demands U= 15x^0.4 y^0.6 Px =1000 py=6400 m=80000In the supply equation; [Qdx=Px+1600], if Qdx=5688, then the price of the product is. Select one: a. 9100800.00 b. 4088.00 c. -4088.00 d. 7288.00Titanium is an alternative for the supply of Platinum.In the market of Platinum, consider the effect of an increase in electricity prices if electricity is a major input in the production of Titianium. Using the list of options of possible impacts, select what is happening in the following markets. Select the impact if any on:i.Supplyii.Priceiii.Quanityiv.Demand
- If demand and supply of Chinese coal areQd = 60 − 0.5P Qs = −2 + 2P Then, Calculate the dead weight loss of the subsidy, if the subsidy cost is 47.6Recognize the majorfactors considered inderiving a final listor quoted price fromthe approximateprice level.Given the following information Qd = 240 - 5P Qs = P Where Qd is the quantity demanded, Qs is the quality supplied and P is the price. Seller's reservation price
- No written by hand solution Version:0.9 StartHTML:0000000105 EndHTML:0000006359 StartFragment:0000000141 EndFragment:0000006319 The demand and the supply of timber for construction in Australia are given by QD =100 – 20P QS = 5P We assume the market is perfectly competitive. 2.1. Compute the equilibrium price PCE and quantity QCE. 2.2. Plot on a graph: the demand curve, the supply curve, and the equilibrium price and quantity. 2.3: Calculate the price elasticity of demand and price elasticity of supply at the equilibrium price and quantity. 2.4. Calculate the producer surplus and consumer surplus in the equilibrium and illustrate them in a graph. 2.5. Suppose there are many construction companies collapsed (and left the market), use a demand and supply graph to explain how the collapse affects the equilibrium price and quantity. 2.6. Consider the setup in 2.1-2.4, and suppose there is a strike of loggers, which change the supply to QS = 4P. Calculate the new…The Government had implemented minimum wage of RM1,200.00 in 57 cities and towns effective 1 January 2020. a) Describe how the new wage will benefit employees in the urban areasIf demand and supply of Chinese coal areQd = 60 − 0.5PQs = −2 + 2P then, Calculate the gains to the consumer from the subsidy if the subsidy cost is 47.6
- The demand and supply functions are given as follows: Qd = 100-8P Qs = -35+10P If the government sets the price as 6.5 dollars what will be the economic condition?Along with many other producers, you own a small oil well. The market is very competitive. Themarginal extraction cost is $10 per barrel. The interest rate is 5%. The annual demand for oil isQ = 90,000 – 2,000P where Q is in barrels per year and P is in dollars per barrel.Use your knowledge about Hotelling’s Rule to answer the following questions: Oil is trading for $25/bbl on Jan 1st, 1999. What do you expect the path of oil pricesand extraction quantities to be from 1999-2010 (assuming no shocks to the market)?A day later, on Jan 2nd, 1999, the Wall Street Journal opens with a story that there is now amore reliable reserves estimate. Total reserves are estimated at 760,000 barrels.Along with many other producers, you own a small oil well. The market is very competitive. Themarginal extraction cost is $10 per barrel. The interest rate is 5%. The annual demand for oil isQ = 90,000 – 2,000P where Q is in barrels per year and P is in dollars per barrel.Use your knowledge about Hotelling’s Rule to answer the following questions: Oil is trading for $25/bbl on Jan 1st, 1999. What do you expect the path of oil pricesand extraction quantities to be from 1999-2010 (assuming no shocks to the market)?A day later, on Jan 2nd, 1999, the Wall Street Journal opens with a story that there is now amore reliable reserves estimate. Total reserves are estimated at 760,000 barrels. b. What is the oil price directly after this news becomes public? When will the worldrun out of oil, assuming no more oil is discovered? [Hint: use a spreadsheet.]You have a couple million dollars to spend on Dec 31st, 1999. You decide to quickly buy out allsmall oil producers. By Jan 1st, 2000, you are…