Homework Answers
We know market supply is the horizontal summation of individual supply curve
Qa=-2+4=2 and Qb=0.5P=0.5(4)=2
Thus total supply is Qa+Qb=2+2=4thousand
At price=13, Qa=11 and Qb=6.5
thus total supply is 11+6.5=17.5thousand units
Add Answer to:
Suppose Firm A has a supply curve of and Firm B has a supply curve of...
Suppose a firm has the ability to produce soap, toothpaste, or both. If the firm produces...
Suppose a firm has the ability to produce soap, toothpaste, or both. If the firm produces qs units of soap and no toothpaste, then the total cost of production will be $21 thousand. If instead the firm produces y units of toothpaste and no soap, then the total cost of production will be $13 thousand. However, if the firm produces both 95 units of soap and qr units of toothpaste, then the firm's total cost of production will be 591...
Assume the tax multiplier is estimated to be 17 and the aggregate supply curve has its...
Assume the tax multiplier is estimated to be 17 and the aggregate supply curve has its usual upward slope. Suppose the government lowers taxes by $121 million Aggregate demand will by million (Enter your response rounded to one decimal place)
Suppose that the demand curve for wheat is QP = 400 - 20p and the supply...
Suppose that the demand curve for wheat is QP = 400 - 20p and the supply curve is QS = 20p. The government provides producers with a specific subsidy of s = $2 per unit. How do the equilibrium price and quantity change? The equilibrium price by $ and the equilibrium quantity responses using real numbers rounded to two decimal places.) by $ units. (Enter numeric
Suppose the market for widgets can be described by the following equations: Demand: P = 20...
Suppose the market for widgets can be described by the following equations: Demand: P = 20 - 1.000 Supply: P = 1.000 -6, where P is the price in dollars per unit and Q is the quantity in thousands of units. What is the equilibrium price and quantity? The equilibrium quantity is thousand units and the equilibrium price is $(Enter your responses rounded to two decimal places.) Suppose the government imposes a tax of $1 per unit to reduce widget...
Suppose you are given the following information about a particular industry: Market demand Market supply QD...
Suppose you are given the following information about a particular industry: Market demand Market supply QD = 14400 - 100P QS = 1500P C(a)=673 + 20 MC(q) = 200 Firm total cost function Firm marginal cost function. Assume that all firms are identical and that the market is characterized by perfect competition. Find the equilibrium price, the equilibrium quantity, the output supplied by the firm, and the profit of each firm. The equilibrium price is $ 9. (Enter your response...
Suppose Jim has a demand curve of: and Sam has a demand curve of: oS 6...
Suppose Jim has a demand curve of: and Sam has a demand curve of: oS 6 0.5p. How much is the total demand at a price of $9.00? 1.5 unit(s) (round your answer to two decimal places) How much is total demand at a price of $7.50? units (round your answer to two decimal places).
Consider the market for gasoline Suppose the market demand and supply curves are as given below....
Consider the market for gasoline Suppose the market demand and supply curves are as given below. In each case, quantity refers to millions of ihres of gasoline per month price is the price perire in Demand: P-300 - 160 Supply P 12040 Compute the equilibrium price and quantity The equilibrium quantity is 60 million tres(Enter your response rounded to one decimal place) The equilibrium price is cents per tre (Enter your response rounded to the nearest cent)
Suppose that the aggregate expenditure curve for an economy can be expressed algebraically as AE =...
Suppose that the aggregate expenditure curve for an economy can be expressed algebraically as AE = 3,000 – 2,000r, where AE is aggregate expenditures and r is the real interest rate expressed as a decimal. If the level of potential output in this economy is 2,825, what is the long-run real interest rate? Instructions: Enter your response as a percent rounded to one decimal place. The long-run real interest rate: ____ %
Questions 5-15 The demand and supply schedules for chewing gum are as follows: Supply: Q =...
Questions 5-15 The demand and supply schedules for chewing gum are as follows: Supply: Q = 3P - 30 Demand: Q = -2P+220 Where P is the price of gum, and Q is the quantity, in millions of packs. 5. What is the equilibrium price of gum? (Please enter a whole number, with no decimal point). 6. How many packs of gum will be bought and sold in equilibrium? (Answer in millions, so if the answer is 9,000,000 packs, write...
2. Suppose a large corporation produces airplanes in a perfectly competitive industry. The data in the...
2. Suppose a large corporation produces airplanes in a perfectly competitive industry. The data in the following table give information about the cost of producing a particular type of airplane (in thousands), where quantity is q, total cost is C, and marginal cost is MC Airplanes sell for $96 thousand, OVO AWNOA 719 844 994 Suppose this firm has the capacity to produce up to 11 airplanes of this particular type If the company manager's goal is to maximize revenue,...
Suppose a firm has the ability to produce soap, toothpaste, or both. If the firm produces qs units of soap and no toothpaste, then the total cost of production will be $21 thousand. If instead the firm produces y units of toothpaste and no soap, then the total cost of production will be $13 thousand. However, if the firm produces both 95 units of soap and qr units of toothpaste, then the firm's total cost of production will be 591...
Assume the tax multiplier is estimated to be 17 and the aggregate supply curve has its usual upward slope. Suppose the government lowers taxes by $121 million Aggregate demand will by million (Enter your response rounded to one decimal place)
Suppose that the demand curve for wheat is QP = 400 - 20p and the supply curve is QS = 20p. The government provides producers with a specific subsidy of s = $2 per unit. How do the equilibrium price and quantity change? The equilibrium price by $ and the equilibrium quantity responses using real numbers rounded to two decimal places.) by $ units. (Enter numeric
Suppose the market for widgets can be described by the following equations: Demand: P = 20 - 1.000 Supply: P = 1.000 -6, where P is the price in dollars per unit and Q is the quantity in thousands of units. What is the equilibrium price and quantity? The equilibrium quantity is thousand units and the equilibrium price is $(Enter your responses rounded to two decimal places.) Suppose the government imposes a tax of $1 per unit to reduce widget...
Suppose you are given the following information about a particular industry: Market demand Market supply QD = 14400 - 100P QS = 1500P C(a)=673 + 20 MC(q) = 200 Firm total cost function Firm marginal cost function. Assume that all firms are identical and that the market is characterized by perfect competition. Find the equilibrium price, the equilibrium quantity, the output supplied by the firm, and the profit of each firm. The equilibrium price is $ 9. (Enter your response...
Suppose Jim has a demand curve of: and Sam has a demand curve of: oS 6 0.5p. How much is the total demand at a price of $9.00? 1.5 unit(s) (round your answer to two decimal places) How much is total demand at a price of $7.50? units (round your answer to two decimal places).
Consider the market for gasoline Suppose the market demand and supply curves are as given below. In each case, quantity refers to millions of ihres of gasoline per month price is the price perire in Demand: P-300 - 160 Supply P 12040 Compute the equilibrium price and quantity The equilibrium quantity is 60 million tres(Enter your response rounded to one decimal place) The equilibrium price is cents per tre (Enter your response rounded to the nearest cent)
Questions 5-15 The demand and supply schedules for chewing gum are as follows: Supply: Q = 3P - 30 Demand: Q = -2P+220 Where P is the price of gum, and Q is the quantity, in millions of packs. 5. What is the equilibrium price of gum? (Please enter a whole number, with no decimal point). 6. How many packs of gum will be bought and sold in equilibrium? (Answer in millions, so if the answer is 9,000,000 packs, write...
2. Suppose a large corporation produces airplanes in a perfectly competitive industry. The data in the following table give information about the cost of producing a particular type of airplane (in thousands), where quantity is q, total cost is C, and marginal cost is MC Airplanes sell for $96 thousand, OVO AWNOA 719 844 994 Suppose this firm has the capacity to produce up to 11 airplanes of this particular type If the company manager's goal is to maximize revenue,...
Most questions answered within 3 hours.
-
In a titration experiment, 29.9 mL of 0.797 M HCOOH neutralizes
20.6 mL of Ba(OH)2. What...
asked 4 minutes ago -
A
roller coaster cart of mass 312 kg travels around a horizontal
curve of radius 41.3...
asked 17 minutes ago -
M1=7/Hr ==> M2=6/Hr ==> M3=9/Hr ==> M4=8/Hr ==>
Demand = 10/Hr
The diagram shows the hourly...
asked 3 minutes ago -
Ten young adults living in California rated the taste of a newly
developed sushi pizza topped...
asked 7 minutes ago -
(Cash Flow Statement) Consider the following potential events
that might have taken place at Global Conglomerate...
asked 9 minutes ago -
What kinds of transitions form the basis for AA and AE?
Can the detector differentiate wavelengths...
asked 16 minutes ago -
Twenty percent of all telephones of a certain type are submitted
for service while under warranty....
asked 17 minutes ago -
If I have a function in python, say show(B), how would I code it
so that...
asked 18 minutes ago -
Size properly the power supply that you need to purchase if you
have the following equipment....
asked 19 minutes ago -
Is voter turnout in Texas a problem? If so how can this issue be
addressed to...
asked 25 minutes ago -
Assume we have these two classes. Note that they are in
separate packages. If the code...
asked 37 minutes ago -
In 250 words, Which theory made the most sense to you in
explaining crimes in a...
asked 36 minutes ago