Macroeconomics: Principles and Policy (MindTap Course List)

13th Edition

ISBN: 9781305280601

Author: William J. Baumol, Alan S. Blinder

Publisher: Cengage Learning

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Chapter 4, Problem 4TY

The following table summarizes information about the market for principles of economics textbooks:

Chapter 4, Problem 4TY, The following table summarizes information about the market for principles of economics textbooks:

What is the market equilibrium price and quantity of textbooks?
To quell outrage over tuition increases, the college places a $55 limit on the price of textbooks. How many textbooks will be sold now?
While the price limit is still in effect, automated publishing increases the efficiency of textbook production. Show graphically the likely effect of this innovation on the market price and quantity.

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Chapter 4, Problem 3TY

Chapter 4, Problem 5TY

Chapter 4 Solutions

Macroeconomics: Principles and Policy (MindTap Course List)

Ch. 4 - Prob. 1TY Ch. 4 - Prob. 2TY Ch. 4 - Prob. 3TY Ch. 4 - The following table summarizes information about...Ch. 4 - Prob. 5TY Ch. 4 - Prob. 6TY Ch. 4 - Prob. 7TY Ch. 4 - Prob. 8TY Ch. 4 - Prob. 1DQ Ch. 4 - Prob. 2DQ

Ch. 4 - Prob. 3DQ Ch. 4 - Prob. 4DQ Ch. 4 - Prob. 5DQ Ch. 4 - Prob. 6DQ Ch. 4 - Prob. 7DQ

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The following table summarizes information about the market for principles of economics textbooks: Price Quantity Demanded per Year Quantity Supplied per Year $45 4,300 300 55 2,300 700 65 1,300 1,300 75 800 2,100 85 650 3,100 What is the market equilibrium price and quantity of textbooks? To quell outrage over tuition increases, the college places a $55 limit on the price of textbooks. How many textbooks will be sold now? While the price limit is still in effect, automated publishing increases the efficiency of textbook production. Show graphically the likely effect of this innovation on the market price and quantity.

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