Answers
Answer 1 : Equilibrium price and Quantity
Q d = Q s
3+5P= 63-15P
60= 20P
P=$3
Q= 3+5P= 3+5(3)= 18 units
Answer 2: P= -5+3Q s
P= 50-2Q d
Q s =( P+5)/3
Q d = (50-P)/2
Q d = Q s
(50-P)/2 = ( P+5)/3
150-3P= 2P+10
140= 5P
P= $28
Q= 11units
Answer Using elasticity:
1. Elasticity of demand ( E d)= % change in quantity demanded/% change in the price
E d = -0.2
-0.2= % Change in quantity demanded/10%
- 2% =%change in quantity demanded
Therefore when the price has been increased by 10% then the quantity demanded has been decreased by 2%.
Answer 2: E s = 0.4
% change in price = 5%
E s = %Change in Quantity supplied/ %change in. Price
0.4*5%= % change in quantity supplied
2% =% change in quantity supplied
Therefore when price has been decreased by 5% then the quantity supplied has been decreased by 2% there is it correct relationship between quantity supplied and change in price.
.Similar Solved Questions
1 answer
Juichlorobutane bp 117-119°C CH=CH-CH2 -CH=CH2 + 2 Br2 - CH ---CH-CH2-CH-CH, Br Br Br Br 1.4-pentadiene...
Juichlorobutane bp 117-119°C CH=CH-CH2 -CH=CH2 + 2 Br2 - CH ---CH-CH2-CH-CH, Br Br Br Br 1.4-pentadiene 1.2.4.5-tetrabromopentane bp 26.0°C mp 85-86°C Usually the halogen is dissolved in some inert solvent such as tri- or tetrachloro- methane, and then this solution is added dropwise to ...
1 answer
Question 17 Kidder Corporation's balance sheet shows an historical book value for long-term debt (bonds, at...
Question 17 Kidder Corporation's balance sheet shows an historical book value for long-term debt (bonds, at par) of $23,500,000. The bonds have an 6.4% coupon rate, payable semiannually, and a par value of $1,000. They mature exactly 10 years from today. The yield to maturity is 9.95%, so the bo...
1 answer
1. 2 pts. Jake enjoys walking with his friends every Saturday. The following table contains information...
1. 2 pts. Jake enjoys walking with his friends every Saturday. The following table contains information on Jake's utility from the walking with his friends. Fill in the blank cells to calculation the total utility and marginal utility and draw a total utility and marginal utility curves. Margina...
1 answer
Match the transaction to the effect of the accounting equation. Complete the table below. Transaction Equation's...
Match the transaction to the effect of the accounting equation. Complete the table below. Transaction Equation's effect (a) A1 = L1 Purchased inventory on credit (b) A1 = OET Owner deposits cash to business bank account using personal funds (c) AT = AT Purchased office supplies paying cash (d) A...
1 answer
Starting from the constant-acceleration kinematic equations, write a formula that gives vf in terms of t,...
Starting from the constant-acceleration kinematic equations, write a formula that gives vf in terms of t, Xi, Xf, and a ubmit Answer Incorrect. Tries 3/8 Previous Tries...
6 answers
Explain It- Explain how knowing that 5 divided by 8 = 0.625 helps you write the decimal for 4 5/8
Explain It- Explain how knowing that 5 divided by 8 = 0.625 helps you write the decimal for 4 5/8....
1 answer
2) (10 pts) Find the four fourth roots of z = 5 +11
2) (10 pts) Find the four fourth roots of z = 5 +11...
1 answer
7. (-/4 Points] DETAILS LARLINALG8 7.2.019.SBS. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Show that the...
7. (-/4 Points] DETAILS LARLINALG8 7.2.019.SBS. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Show that the matrix is not diagonalizable 0 :) STEP 1: Use the fact that the matrix is triangular to write down the eigenvalues. (Enter your answers from smallest to largest.) A1, A2) STEP 2: Find the eigenve...
1 answer
Pearl Products Limited of Shenzhen, China, manufactures and distributes toys throughout South East Asia. Three cubic...
Pearl Products Limited of Shenzhen, China, manufactures and distributes toys throughout South East Asia. Three cubic centimeters (cc) of solvent H300 are required to manufacture each unit of Supermix, one of the company’s products. The company now is planning raw materials needs for the third ...
1 answer
Why is DNA replication essential for a cell?
Why is DNA replication essential for a cell?...
1 answer
Please answer question 2. thanks (E) Resources are being used at a more rapid rate than...
Please answer question 2. thanks (E) Resources are being used at a more rapid rate than they were in the past. Using positive economics and normative economies to evaluate the effect of increasing tax rate in a U.S. 2....
1 answer
Spot price 50 Strike price 50 Effective annual risk-free rate 1% Continuous Dividend Yield 0 Time...
Spot price 50 Strike price 50 Effective annual risk-free rate 1% Continuous Dividend Yield 0 Time to maturity 1 year European Call Option Premium 5.2 u 1.2 d 0.8 (a) Suppose you observe a call price of $5.50. How can you arbitrage? A. Long call, long stock...
1 answer
N1 Which of the following is the polar form of -2? mg: 3 out of Select...
n1 Which of the following is the polar form of -2? mg: 3 out of Select one: o 2cisa 2cis 22 o 4cis o 2cis Check Let z = -1 -i. In the polar form of z", which of the following is the value for the argument? Select one: a. O O c. O d. ? o e. S Check un 3 Let z = 1-i and w = 1 - 2i. What is the rea...
1 answer
Henderson International Limited is evaluating a project in Erewhon the project will create the following cash...
Henderson International Limited is evaluating a project in Erewhon the project will create the following cash flows year zero cash flow negative $588,000 a year one 218,000 ear to 161003 226,000 year for 205 Thousand Oaks fast food worker and ear one in are expressed in dollars in an attempt to impr...
1 answer
This for dental hygiene Question 1 The type of shock that arises from a sudden change...
this for dental hygiene Question 1 The type of shock that arises from a sudden change in body position is psychogenic postural. anaphylactic metabolic. respiratory. Question 2 The diabetic patient may exhibit if they don't eat before their appointment. hyperglycemia hypoglycemia insulin sh...