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- Price per bushel Quantity Demanded (bushels) Quantity Supplied (bushels) US$2 40,000 0 4 36,000 4,000 6 30,000 8,000 8 24,000 16,000 10 20,000 20,000 12 18,000 28,000 14 12,000 36,000 16 6,000 40,000 How many bushels will be sold if the market price is US$6 per bushel? If the market price is US$6 per bushel, what must happen to restore equilibrium in the market? At what price will suppliers be able to sell 36,000 bushels of wheat? Suppose the market price is US$14 per bushel. Is there a shortage or a surplus in the market? What is the quantity of the shortage or surplus? How many bushels will be sold if the market price is US$14 per bushel? If the market price is US$14 per bushel, what must happen to restore equilibrium in the market?a) Describe, in general, the flow of the decision-making process in economic engineering. b) Calculate the equilibrium price and quantity corresponding to a scenario with a demand curve represented by Cd = 1600 - 30Pb and a supply curve represented by Co = 1400 + 70Pb. c) Calculate the new quantities supplied and demanded for the scenario of letter 'b', assuming a 10% increase in the equilibrium price found above.Identify the NonPrice determinants of demand in the dentistry field business (per factor) In the average income of consumers,size of the market, price and availability of related goods,preferences or taste,special influences and expectations about future economic conditions
- Demand and supply for television use (pay per view) by choice is described by the following demand and supply functions (v represents price per item) Demand = 198 - 2v Supply = -2 + 2v The world market price for TV use is € 30. Price per item. a) decision is now made to impose a 30% duty on the world market price of imports (foreign streaming services), but the government has now found that traditional duty can be collected through credit card companies transactions (no VAT). i) What will be the price, imports, demand and domestic supply. ii) What will be the macroeconomic loss due to duty compared to free trade without VAT?Recognize the majorfactors considered inderiving a final listor quoted price fromthe approximateprice level.at is the intermdiate demond of the agricultural,manufacutring,and energy sector
- The concert promoters of a heavy metal band, WeR2Loud, know that there are two types of concert - goers: die - hard fans and casual fans. For a particular WeR2Loud concert, there are 1.000 die - hard fans who will pay $150 for a ticket and 500 casual fans who will pay $50 for a ticket. There are 1,500 seats available at the concert venue. Suppose the cost of putting on the concert is $50,000, which includes the cost of the band, lighting, security, etc. Refer to Scenario 15-6. How much additional profit can the concert promoters earn by charging each customer their willingness to pay relative to charging a flat price of $150 per ticket? Group of answer choices $25,000 $50,000 $ 75,000 $100,000V1 why is becoming suppliers for foreign firms a good stragey when evntering a foreign marketSamsung sells its 16in monitors to Apple for £85 per screen. Its estimated cost is £49 andApple is willing to pay up to £99. The value creation (VC) and consumer surplus (CS) in thiscase are equal to:a. VC=£50 , CS=£14.b. Impossible to say.c. VC=£36 , CS=£14.d. VC=£99 , CS=£36
