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| Question 11 2.6 pts Suppose the demand curve for a product is given...
12. Suppose the demand curve for a product is P = 12 – 0.5Q. Which of...
12. Suppose the demand curve for a product is P = 12 – 0.5Q. Which of the following is accurate? a. The maximum willingness to pay for the 10th unit is $7. b. If the price is $8, the quantity demanded is 4 units. c. The maximum willingness to pay for the 8th unit is $10 . d. If the price is $6, the quantity demanded is 10 units. e. None of the above. Please show detail.
Suppose the demand curve for a product is P=12-.5Q. Which of the following is accurate? 12....
Suppose the demand curve for a product is P=12-.5Q. Which of
the following is accurate?
12. Suppose the demand curve for a product is P 12-0.50. Which of the following is accurate? a. The maximum willingness to pay for the 10th unit is $7. b. If the price is $8, the quantity demanded is 4 units. c. The maximum willingness to pay for the 8th unit is $10. d. If the price is $6, the quantity demanded is 10 units....
please answer D Question 10 2.6 pts Suppose the demand and supply curves for a particular...
please answer
D Question 10 2.6 pts Suppose the demand and supply curves for a particular product are given below. D P160- 2Q s: P-40+ q What is the equilibrium price, P, and equilibrium quantity, Q? None of the other options. P = 47.66; Q-5667. P=90; Q = 50. P 60; Q 50. P80:Q-40
Please answer D Question 8 2.6 pts Consider the demand curve below. If the price of...
Please answer
D Question 8 2.6 pts Consider the demand curve below. If the price of the good were to decrease, holding other determining factors constant, we would expect a movement along the demand curve, downward and to the right a movement along the demand curve, upward and to the left a leftward shift in the demand curve a rightward shift in the demand curve. a rotation of the demand curve around the original price, quantity point on it.
The following figure illustrates a standard market-demand curve and market-supply curve, with price per unit measured...
The following figure illustrates a standard market-demand curve and market-supply curve, with price per unit measured on the vertical axis and quantity measured on the horizontal axis. Price Demand Supply 0 1 2 3 4 5 6 7 8 9 10 Quantity Figure Description: Quantity demanded and quantity supplied is measured on the horizontal axis and price per unit is measured on the vertical axis. One downward sloping demand curve is provided and is labeled Demand. One upward sloping supply...
12. Suppose that the market demand for yo-yos is given by Q-6,000-200P. If the market price...
12. Suppose that the market demand for yo-yos is given by Q-6,000-200P. If the market price of yo-yos is $5 per unit, market consumer surplus is A. $125,000. B. $62,500. C. $25,000. D. None of the above. 13. Market consumer surplus is due to the fact that A. Different con sumers are willing to pay different prices for the same product. B. All consumers pay the same price for the product. C. The supply curve is upward sloping. D. All...
Question 9 5 pts Scenario The equation of a demand curve for computers is D 200-2P...
Question 9 5 pts Scenario The equation of a demand curve for computers is D 200-2P where represents the quantity of computers demanded, and P represents the price of computers The equation of the supply curve for computers is QS-60+3P where S represents the quantity of computers supplied,, and P represents the price of computers. What is the consumer surplus in the market at the equilibrium price and quantity? $2,340 $2,536 $1,536 $2,304
please help. show coordinates for demand curve as well 2. Individual demand and consumer surplus Consider...
please help. show coordinates for demand curve as well
2. Individual demand and consumer surplus Consider the market for yachts. The market price of each yacht is $140,000, and each buyer demands no more than one yacht. Suppose that Raphael is the only consumer in the yacht market. His willingness to pay for a yacht is $245,000. Based on Raphael's willingness to pay, the following graph shows his demand curve for yachts. Shade the area representing Raphael's consumer surplus using...
The demand equation for a certain product is given by p = f(q) = 25/3q2 +2...
The demand equation for a certain product is given by p = f(q) = 25/3q2 +2 where p is the unit price in dollars and q is the quantity demanded each year, measured in thousands of units. It is expected that the demand will be 2000 units for the year, with a maximum error of 10%. What is the maximum error in the predicted price?
0.4 pts Question 11 Suppose firms decide to increase the wages they pay to workers. Which...
0.4 pts Question 11 Suppose firms decide to increase the wages they pay to workers. Which of the following are correct? Select all of the correct choices The quantity demanded of the goods sold by the firms is likely to increase. The supply curve will shift to the right The prices of the goods sold by the firms are likely to increase. As price increases there is an upward movement along the demand curve
Suppose the demand curve for a product is P=12-.5Q. Which of
the following is accurate?
12. Suppose the demand curve for a product is P 12-0.50. Which of the following is accurate? a. The maximum willingness to pay for the 10th unit is $7. b. If the price is $8, the quantity demanded is 4 units. c. The maximum willingness to pay for the 8th unit is $10. d. If the price is $6, the quantity demanded is 10 units....
please answer
D Question 10 2.6 pts Suppose the demand and supply curves for a particular product are given below. D P160- 2Q s: P-40+ q What is the equilibrium price, P, and equilibrium quantity, Q? None of the other options. P = 47.66; Q-5667. P=90; Q = 50. P 60; Q 50. P80:Q-40
Please answer
D Question 8 2.6 pts Consider the demand curve below. If the price of the good were to decrease, holding other determining factors constant, we would expect a movement along the demand curve, downward and to the right a movement along the demand curve, upward and to the left a leftward shift in the demand curve a rightward shift in the demand curve. a rotation of the demand curve around the original price, quantity point on it.
The following figure illustrates a standard market-demand curve and market-supply curve, with price per unit measured on the vertical axis and quantity measured on the horizontal axis. Price Demand Supply 0 1 2 3 4 5 6 7 8 9 10 Quantity Figure Description: Quantity demanded and quantity supplied is measured on the horizontal axis and price per unit is measured on the vertical axis. One downward sloping demand curve is provided and is labeled Demand. One upward sloping supply...
12. Suppose that the market demand for yo-yos is given by Q-6,000-200P. If the market price of yo-yos is $5 per unit, market consumer surplus is A. $125,000. B. $62,500. C. $25,000. D. None of the above. 13. Market consumer surplus is due to the fact that A. Different con sumers are willing to pay different prices for the same product. B. All consumers pay the same price for the product. C. The supply curve is upward sloping. D. All...
Question 9 5 pts Scenario The equation of a demand curve for computers is D 200-2P where represents the quantity of computers demanded, and P represents the price of computers The equation of the supply curve for computers is QS-60+3P where S represents the quantity of computers supplied,, and P represents the price of computers. What is the consumer surplus in the market at the equilibrium price and quantity? $2,340 $2,536 $1,536 $2,304
please help. show coordinates for demand curve as well
2. Individual demand and consumer surplus Consider the market for yachts. The market price of each yacht is $140,000, and each buyer demands no more than one yacht. Suppose that Raphael is the only consumer in the yacht market. His willingness to pay for a yacht is $245,000. Based on Raphael's willingness to pay, the following graph shows his demand curve for yachts. Shade the area representing Raphael's consumer surplus using...
0.4 pts Question 11 Suppose firms decide to increase the wages they pay to workers. Which of the following are correct? Select all of the correct choices The quantity demanded of the goods sold by the firms is likely to increase. The supply curve will shift to the right The prices of the goods sold by the firms are likely to increase. As price increases there is an upward movement along the demand curve
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