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

The moroccan monetary authority is using a heavily managed

The Moroccan monetary authority is using a heavily managed float to keep the dirham at $0.12 per dirham. Under current foreign exchange market conditions, nonofficial supply and demand would clear at $0.15 per dirham. Us ...

Explain the implications of marginal cost pricing and

Explain the implications of marginal cost pricing and average cost pricing. Why are these important results in a purely competitive industry? Explain.

Discussionthe harrod-domar model set out to answer a fairly

Discussion The Harrod-Domar model set out to answer a fairly simple question, with enormous ramifications. The question was, "When is an economy capable of steady growth at a consistent rate?". Pick two of discussions fr ...

Economic essaylate papers will get a penalty of 2pts per

ECONOMIC ESSAY Late papers will get a penalty of 2pts per day During the last part of the course, we have read two chapters from the book titled: Why nations fail. On Chapter 2 - Theories that don't work- the authors pre ...

Monetarists disapprove of how the federal reserve conducts

Monetarists disapprove of how the Federal Reserve conducts monetary policy. What is it about the Fed's policy process that bothers them? Discuss their criticisms.

The following labor demand and supply curves for cashiers

The following labor demand and supply curves for cashiers in retail stores. Labor demand curve: E =13 - 1/20 W Labor supply curve:   E =-1 + 1/20 W a) Show in a table the number of cashier demanded and supply for each wa ...

Imagine that you have decided to open a small ice cream

Imagine that you have decided to open a small ice cream stand on campus called " Ice-Campusades' . You are very excited because you love ice cream (delicious!) and this is a fun way for you to apply your business and eco ...

The simple interest for buying a passenger transit rail is

The simple interest for buying a passenger transit rail is shown as the product of the principle amount (P), time (in years), and annual rate (R). The City of Phoenix plans to buy five additional mass transit cars for $1 ...

Economicsintroduction250wordsprovide an overview of the

Economics Introduction(250)words Provide an overview of the chosen economy of a country Production output performance analysis(500)words -real gdp , real gdp growth rate, real gdp per capita -define and explain how each ...

Suppose the economy was at equilibrium before the start of

Suppose the economy was at equilibrium before the start of the recession. Show this using the IS-LM, Keynesian cross, AD-SRAS-LRAS and money market spaces.

  • 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