Suppose you are given the following information:  Q s = 100 + 3P Q d = 400 – 2P  where Qs is the quantity supplied, Qd is the quantity demanded and P is price. 1. Now suppose that a tax is placed on buyers so that Q d = 400 – (2P + T) where T is taxes. If T = 15, solve for the new equilibrium price and quantity. (Note: You are solving for the equilibrium price for sellers and buyers)

Q: What happens to the consumer surplus that is lost upon imposition of a price ceiling?

A: Consumer Surplus:- The disparity among the buyers' willingness to pay as per their taste and choices...

Q: If the bargaining power of the workers increases due to the unions becoming stronger: A) The wage s...

A: The most important part of production is labor. The price that is being paid to labor for contributi...

Q: What is the economic problem? a. less profit Ob. liquidity Oc. Scarcity O d. unlimited resources

A: Economics aims to allocate the resources in such a manner so that the most efficient outcome is achi...

Q: Ceteris paribus, in a closed economy, if consumers become more pessimistic. O autonomous consumption...

A: In a closed economy, if the consumer becomes more pessimistic about the future, he will reduce the l...

Q: Kabir’s Ceramics spent 3000 Taka on a new kiln last year, in the belief that it would cut energy usa...

A: Production means conversion of raw material into finished goods. It means the final goods are produc...

Q: A manufacturer desires to set aside a certain sum of money to cover the yearly operating  expenses o...

A: Sum= 1200 + 500 ( P/A, 6%, 10 ) + 600 ( P/A, 6%, 10 )         = 1200 + 500 ( 7.360 ) + 600 ( 7.360 )...

Q: Labor (workers) Output (frijoles) Total cost (dollars) 0 0 1,000 5 1000 3,000 10 3000 5,0...

A: ATC(average total cost) is found by dividing the TC(total cost) by Q(quantity).

Q: 7. According to the mercantilists: A) Only one nation can gain from trade, and it is at the expense ...

A: Trade is defined as the exchange of commodities and services across the boundary of the country.  In...

Q: Consider an election contested by two candidates L & R; when L spends $x million on advertising and ...

A: Given information 2 candidates are in election L and R L pends X million on advertising campaign R s...

Q: d. double declining balance method depreciation charge: Php book value: Php e. sum of the year's dig...

A: Solution:-  a.Straight line method Depreciation charge : Php 6650 Book Value: Php 3350   b.Sinking f...

Q: Suppose that as the price of Y falls from $3.00 to $2.80, the quantity of Y demanded increases from ...

A: Price elasticity of demand is a measurement of the change in the consumption of a product in relatio...

Q: The Prime Minister claims that funding the increase in NHS and social care spending by national insu...

A: We show the Màrket bàlance can be defined as a market situation in which the availability of goods a...

Q: Say the price of a cowboy hat is $100 . Willie can produce a cowboy hat at a marginal cost of $130, ...

A: Producer surplus is the total amount that a producer gains from producing and selling goods and serv...

Q: The market for cookies is represented by the following supply and demand conditions: QD =1,000 – 200...

A: Demand : Qd=1000-200P Supply: Qs=400P-200 Equilibrium price and quantity Qd=Qs 1000-200P=400P-200 60...

Q: Raising the federal funds rate the aggregate demand curve so that equilibrium real GDP and the price...

A: In an economy, federal funds rate is the interest rate that is charged by one financial authority to...

Q: You are a manager of an advertising company. The company is running short of funds, so you decide to...

A: It's tough to say whether cutting costs or growing income is more vital for all businesses. There ar...

Q: 3. Calculate the steady state level of investment in an economy with a savings rate of 15%, populati...

A: Let total output be Y, savings rate be s, population growth be n. Yt=KtαLt1-αYtLt=KtαLt1-αLt⇒yt=ktα,...

Q: Nature of Insurance Insurance is a means to minimize the seriousness of a risk to an individual. A r...

A: Insurance Insurance is a contract in which a person or business gets financial protection or payment...

Q: he following table shows the outputs and prices of three products A, B and C by a small economy in 2...

A: The given information: product A A B B C C year Price Quantity Price Quantity Price Quantity ...

Q: 1. Bertrand's original analysis predicted a perfectly competitive price and output if there were mor...

A: Trigger Strategy for an indefinite period is defined as the strategy in which if a player is coopera...

Q: QUESTION: Can you decide whether to invest after these analyses? If not, what to do next?

A: If money is invested in money market  then to calculate the return on $190000 ( as this is the highe...

Q: 3. Assume a country produces bag and potato only and follows "law of increasing opportunity cost". I...

A: According to the "law of increasing opportunity cost", as the production of one good is increasing, ...

Q: Figure 10.1 shows demand and costs for a monopolistic competitor. When a new firm enters the market,...

A: Monopolistic competition is a type of imperfect competition such that there are many producers compe...

Q: When the Fed raises the federal funds rate, the US dollar and net exports O a. appreciates; decrease...

A: Federal funds rate is the interest charged on the borrowing and lending transaction between banks th...

Q: In Ethics. The act of killing the priest inside the church during the mass is heavier act of killing...

A: It is already a serious crime to murder a priest. It would be much more serious if it is done within...

Q: Give five examples of goods and services that people consume on a daily basis as a result of globali...

A: Globalization The word "globalization" refers to how commerce and technology have made the globe a m...

Q: 1.1 Economics concerns itself with: 1. A systematic understanding of patterns of production, consump...

A: "Since you have asked multiple questions, we will solve first question for you .. If you want any sp...

Q: 0.997738 Coefficient Intercept Interest Rate -1.61538 14.88462 1. Are there factors other than inter...

A: Regression analysis is a powerful statistical method that allows you to examine the relationship bet...

Q: Economists like markets because, generally speaking...   Question 2 options:   production is organi...

A: A market economy is an economic system in which the decisions regarding allocation, production and d...

Q: Ms. Roberts decided to invest some money in an insurance company with an interest rate of 9% annuall...

A: We use the rule of 72 here. Rule of 72: Years to double the principal = 72/Interest Rate 

Q: 1. Is adherence to a good practice and ethical principles in business activity a factor in the effec...

A: When business people manufacture a product, cost  takes place for that product and process of busine...

Q: what action (besides stopping buying apple juice) might Reiko take if the price of apple juice rises...

A: Given Demand schedule at various prices

Q: 100+3P   and    Qd = 400 - 2P where Qs is Quantity supplied and  Qd is quantity demanded and P is p...

A: Supply and demand are equivalent in case of Equilibrium stage, and Qd=Qs. In given case:

Q: Suppose the table below presents the demand schedule of the sole medicine manufacturer in the countr...

A:

Q: Suppose that investment depends on both output and the interest rate and there is an increase in con...

A: Consumer confidence:- Consumer confidence can be explained as an indicator of the economy. It gauges...

Q: Branches of Economics History of Economic Thoughts

A: Branches of Economics Branches of economics are the micro and macro economics, it is the analysis of...

Q: Thomas has the following utility function over milkshakes (m) and smoothies (S): U (m, s) =m+3s Toda...

A: Two goods Perfect substitutes when only one of them is consumed depending on price ratio and margina...

Q: Which of the following statements is false? 9) a. A profit maximizing firm still sets output such ...

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

Q: Are there any circumstances under which society could exist without law?

A: ANSWER   A Society rarely survives without some formed code of conduct. Thus it cannot exist without...

Q: HANDOUT 3 OPPORTUNITY COST: Examples A. Wanda paid $150 for a fully refundable plane ticket to San F...

A: Opportunity cost is defined as the forgone benefit that would have been possible from an option not ...

Q: 5

A: Utility is the measure of satisfaction that a consumer derives from the consumption of a good or a n...

Q: To usher in a new era of transformative change for a more sustainable, equitable, and greener world,...

A: Sustainable development goals - Sustainable development goals are the specific goals to achieve glob...

Q: 4. Demonstrate your understanding of the PPC. Use the table below to graph the PPC and make the nece...

A: Given   A B C D E Ice cream 0 1 2 3 4 Chocolate 30 29 25 15 0

Q: Team, please create an amortization schedule which shows different dollar amounts you borrow at diff...

A: Introduction Amortization table for 25 years loan has  shown on different interest rate and differen...

Q: Will giving children/students money help improve their interest in Economics and increase their over...

A: When talking about the study of economics and finance, it can be said that a student learns a concep...

Q: 1) Average prices received and corresponding total production for the five leadıng grain crops in Ka...

A: The Fisher Price Index, also known as the Fisher's Ideal Price Index, is a consumer price index (CPI...

Q: 5. The demand function for good X is InQ-a+bin P, +cln M +e where Px is the price of good X and M is...

A: The own price elasticity of demand is the percentage change in the quantity demanded of a good or se...

Q: If monetary policy sets R equal to 0, what is the value of consumption spending C? Answer: 11.1

A:

Q: What will happen to Vladimir Putin after the war with Ukraine? What kind of consequences will he and...

A: Throughout 2021 and 2022, Russian military development on the boundary of Ukraine has raised pressur...

Q: The marginal propensity to save is defined as the 1-MPC, where MPC is marginal propensity to consume...

A: In the formula of the 1-MPC it is the out of the all money earned, it is how much the consumption is...