Homework Answers
Surplus of 160 units means excess of supply over demand by 160 units.
As we can see that at price $1.60, demand is 130 units and supply is 290 units.
Surplus = Supply - Demand
Surplus = 290 - 130
Surplus = 160.
So, the correct answer is an option (a).
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product in a particular nation.
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Multiple Choice
shortage of 160 units, which it will meet with 160 units of
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$1.60.
surplus of 160 units, which it will export.
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Suppose you have the information shown in the table below about the quantity of a good...
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Price Supply $1.60- 1.00 50 Demand 0 130 200 290 Quantity Refer to the diagram. The equilibrium price and quantity in this market will be
Price If actual production and consumption occur at N 3 A) deadweight loss equals area f. B) producer surplus equals area e. C) consumer surplus equals area a+b. D) producer surplus equals area eb. 13) Use the figure below to answer the following question Supply Demand 290 130 200 Quantity If the price in this market was set at $1.00 by the government price or then the number of the taking place would be 13) A) 160.) 130. 290. D)...
To answer the next question, use the following graph showing the
domestic demand and supply curves for a specific standardized
product in a particular nation.
If the world price for this product is $0.50, this nation will
experience a domestic
Multiple Choice
shortage of 160 units, which it will meet with 160 units of
imports.
shortage of 160 units, which will increase the domestic price to
$1.60.
surplus of 160 units, which it will export.
surplus of 160 units, which...
Question 1. (i) The demand and supply functions for a good are given by D = 50 - 0.5P and S = 20 +0.25P (Where P is price) (a) Calculate quantity demanded when price is Rs 10 (b) Calculate quantity supplied when price is Rs 20 (c) Calculate the equilibrium prices and quantities (d) Calculate the shortage/ surplus if government imposes a regulatory price of Rs 60. (e)If the demand curve shifts to D' = 100 - 0.5P, compute the...
Suppose you have the information shown in the table below about the quantity of a good that is supplied and demanded at various prices. Price (S) Quantity demanded Quantity supplied 50 40 30 20 10 20 40 60 80 180 140 100 60 20 a. Draw the demand and supply curves from the data provided. Instructions: Round your answers to the nearest whole number and include a negative sign if appropriate. b. The equilibrium price is $. and the equilibrium...
Indicate whether each one pertains to microeconomics (MIC) or macroeconomics (MAC). (a) "Mexican's GDP had a growth rate of 5 percent in the final quarter of the year 2019." (b) “The profits of Amazon rose 20 percent during the past quarter." (c) "Rains from El Paso again hit the California region causing severe flooding in farms. The prices for citrus and produce are expected to rise sharply." (d) "The unemployment rate in France hit its lowest level in the last...
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Figure 13-9 The figure below depicts average total cost functions for a firm that produces automobiles. Average Total Cost (5) ATCD ATCA ATCE Quantity of Automobiles per day Refer to Figure 13-9. Which of the curves is most likely to characterize the short-run average total cost curve of the smallest factory? a. ATCA b.ATCB ос. Атес d. ATCD Figure 13-9 The figure below depicts average total cost functions for a firm that produces automobiles. Average 1 Total Cost (5) Quantity...
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