Table 2: Market Data Market Quantity Quantity Prices Supplied Demanded (P) ( Qs) ( Qd) $5.00 4 13 $7.00 7 11 $9.00 10 6. $11.00 13 7 $13.00 16 5 Refer to Table 2 for the market of a normal good. At the market price (P) of $13.00, there is a of unit(s), respectively. surplus; 11 surplus; 16
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- This is a difficult question. Take your time to match the term to its definition or description. Complement Inferior Good Normal Good Substitute A. E1<0 B. EXY<0 C. E1>0 D. EXY>0Find the equilibrium price and quantity for two complementary goods slacks and jackets using elimination method. a) Qd=410-5Ps-2Pj Qs=-60+3Ps b) Qd=295-Ps-3Pj Qs=-120+2PjThe graph shows the budget line for a consumer who only buys cookies and magazines. If the consumer's income is $20, what is the price of a Magazine? Cookies (number per week) 24 20 a 16 8 4 O 2 4 6 8 10 12 Magazines (number per week) Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.Answer completely.You will get up vote for sure.
- The demand curve for commodity X is represented by Qx=160000-1000Px. Construct the demand schedule assuming initial price to be $100 and consequent increase by $10 upto $150.(a)Diagrammatically show and explain how oil prices dropped as concerns over fuel demand in the near term in COVID-19 pandemic hit Europe and the United States. (b)Diagrammatically show and explain what happened to the oil market if the price remained unchanged despite the concerns over the fuel demand. (c)You sell two different goods: printers and toner cartridges. The price elasticity of demand for the printers is -3.4, and you earn a revenue of RM15,000 per month from the good. You earn a revenue of RM5,000 per month from the toner cartridges. The cross price elasticity of demand for both of the goods is -2.5. If you decide to decrease the price of the printers by 5%, calculate your new total revenues for…Exhibit 6-7 Marginal utility for sandwiches and sodas Quantity Sandwiches Sodas 1 10 5 2 8 4 3 6 3 4 3 1 5 −1 0 Refer to Exhibit 6-7. Diminishing marginal utility for sandwiches sets in after the ____ sandwich. a. second b. fourth c. first
- a) What is the value of the slope of the demand curve? A: (5.5, 38.5) B: (11, 33) C: (33, 11) D: (38.5, 5.5) Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.17. The general demand function for good A is Qd = 754 − 2PA − 0.05M + 6PB +10ℑ+ 3PE + 2N where Qd = quantity demanded of good A each month, PA = price of good A, M = average household income, PB = price of related good B, ℑ = a consumer taste index ranging in value from 0 to 10 (the highest rating), PE = price consumers expect to pay next month for good A, and N = number of buyers in the market for good A. a. Interpret the slope parameter for income. Is good A normal or inferior? Explain. b. Are goods A and B substitutes or complements? Explain. Interpret the slope parameter for the price of good B. c. Are the algebraic signs on the slope parameters forℑ, PE, and N correct? Explain.A consumer has $300 to spend on good X and Y. The market price of these two goods are Px=$50 and Py=$100. a. Mathematically and graphically present the budget line. b. Describe graphically what would happen to the budget line if the consumer is given a $50 gift certificate for good X and Px=$25? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
- Co. XYZ manufactures a productand sells it for $8 per unit. Her fixedcosts are $5,000 and her variablecost per unit is given by the equationCalculate the equilibrium quantity qalgebraically. 2.444 (X)-2200 A. (q-800) B. q=900 C. (q 650) D. None of the above In the previous problem (27), calculate the amount ofequilibrium Total Income. A. 4,500 B.$3,000 C. $7,200 D. $9,000 In the above problem (27), calculate thebreak-even Total Cost amount. A. 4,500 B. $3,000 C. $9,200 D. 7,200 In the previous problem (27)determine the profit when q-1800.modes of A. $4,500 B. 5,000 C.$6,000 D. 7,000 In the previous problem (27), determine the gain when q-450. A. $2,500 B. -$2,500 C.$6,000 D. -$4,500 In the aboveproblem (27), find the required output (q), to make a profit of$10,000. A. 3,000 B. 4,000 C. 2,500D. 2,700Q1 new technology introduced which reduces cost pf producing of hybrid cars graph pre market equilibrium aand post market equilibrium. Q 2 importance of elasticity in decision makingfor consumers and producers, explain your concept byplotting separate graphsDEPENDENT VARIABLE Qc R- SQUARE P- VALUE ON F 64 0.8093 0.0001 INDEPENDENTVARIABLE PARAMETER ESTIMATE STANDARD ERROR T-RATIO P-VALUE INTERCEPT 8.20 4.01 2.04 0.0461 PC -3.54 1.64 -2.16 0.0357 M 0.64287 0.19 3.38 0.0014 PA 0.7854 0.38 2.07 0.0439 9. Calculate the price elasticity, cross-price elasticity, and income elasticity of demand for cement. Explain these figures. Q = f( P, M, PR) where Qc = demand for cement/month (in yards) Pc = the price of cement per yard, M = country’s tax revenues per capita, and PR = the price of asphalt per yard.