The demand function for fountain pens last week is given as Qd=14-2P. If two fountain pens are sold at $4.00 each at the end of this week: Formulate the supply function. Find the equilibrium price. Find the equilibrium quantity.

Q: You own a printing firm. Two of your senior managers provide you with advice. The first manager stat...

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A: Total cost is the sum of variable cost and fixed cost.

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A: since you have asked multiple questions and according to policy we can solve only 1 ques and for the...

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A: Please find the answer below.

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A:

Q: Ontario is removing vehicle license renewal fees (article below). How does this affect the cost of o...

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Q: In a supply-driven economy, which of the following statements are correct? Select all correct statem...

A: To find : Correct statement regarding supply driven economy 

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Q: The Slutsky matrix below belongs to a consumer with a regular utility function of three goods, with ...

A: As we know that Slutsky matrix is symmetric matrix. Therefore, By solving the metrics we can find ou...

Q: The market for drones is perfectly competitive. Assume for simplicity that fractions of everything, ...

A: TC=712+q2Now,AC=TCqAC=712q+q

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A: In the given graph, it is given that the autarky price is P1 and world price is PW.

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Q: i = 8% 0 – 1-2- 3- 4-5-6 $5500 $7100 F $9500

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Q: Frank agrees to lend his friend Sammy $1000 for one year so that Sammy can buy a new computer. Suppo...

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Q: A man deposits P 1,000 at the end of each month for 3 years at a nominal rate of 12% compounded mont...

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Q: Given demand function Q= 50 - 0.4P, what is the pnce elasticity of demand at price P = 257 O 025 O 0...

A: Q = 50-0.4P Put P = 25 => Q = 50 - 0.4 * (25) => Q = 50 - 10 => Q = 40 At a price of 25, th...

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A: Given is the graph of the production firm's isoquant. The isoquant is a downward sloping curve in th...