Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Macroeconomics Expert

Problem:

Using the following schedule, describe the equilibrium price and quantity. Illustrate the condition at the price of $10. What will take place? Illustrate out the situation at a price of $2. What will take place?

Price

Quantity demanded

Quantity supplied

$1

500

100

$2

400

120

$3

350

150

$4

320

200

$5

300

300

$6

275

410

$7

260

500

$8

230

650

$9

200

800

$10

150

975

problem 1: Assume the government obliged the minimum price of $7 in schedule of problem 1. What would take place? Demonstrate.

problem 2: In problem 1, point out what the price would have to be to represent the effective price ceiling. Indicate the surplus or shortages that result. Demonstrate a price floor and give an illustration of the price floor.

problem 3: Assess the following statement: "The demand for U.S. oranges has risen because the quality of U.S. oranges demanded in the Japan has increased."

Macroeconomics, Economics

  • Category:- Macroeconomics
  • Reference No.:- M910636

Have any Question? 


Related Questions in Macroeconomics

Why are database management systems dbmss but really just

Why are database management systems (DBMSs, but really just asking about database technology) important in the business community? Can you provide an example of database technology in the business world?

How does the money supply affect inflation and nominal

How does the Money supply affect inflation and Nominal interest rates? Explain.What is purchasing - power parity and how does it explain nominal exchange rates?

In the short run when us firms moved thrit it and data

In the short run when US firms moved thrit IT and data functions to India India's aggregate supply? When the money wage rate rose India's aggregate supply? When the price level in India increased Indias aggregate supply?

Managerial economics and globalizationapplications and best

Managerial Economics and Globalization "Applications and Best Practices"  Please respond to the following: Propose two (2) applications of the knowledge that you have learned in this course to your current or a future po ...

Question 1suppose you are given the following information

Question 1: Suppose you are given the following information about an industry: Q D = 8000 - 100p; Q S SR = 20 + 700p; c(q) = 20 + q 2 /20. where q and c (q) stand for a firm's quantity supplied and cost function; Q SR S ...

A assume a country is in a fixed exchange rate regime such

a. Assume a country is in a fixed exchange rate regime such as China. Explain what factors might cause individuals to expect that a country will revalue its currency. Explain the various actions that policy makers can ch ...

Suppose ralph and ed have the only store that sells toilet

Suppose Ralph and Ed have the only store that sells toilet bowls in northern Maine. Their nearest competitor is 211 miles away, and these two men have a reputation for producing high-quality toilet bowls. Graphically ill ...

Nettie can produce either 8 cupcakes or 4 hamburgers becky

Nettie can produce either 8 cupcakes or 4 hamburgers. Becky can produce either 4 cupcakes or 8 hamburgers. Suppose that Nettie and Becky each specialize in the production of the good for which they have a comparative adv ...

Please answer the following questions1 the economy cannot

Please answer the following questions: 1) The Economy cannot be considered fully employed unless the measured unemployment rate is below 1%. Agree or disagree and explain your answer in a paragraph. 2A) Why would you exp ...

Need the answer in 150 wordswhat is currency overshooting

Need the answer in 150 words. What is currency overshooting? Using an example of a permanent decrease in money supply, explain with the help of graphs, how the money market and forex market respond to the change in the s ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen