(Answered) Manny moe and jack have the following demand curves for

Economics

Manny, Moe and Jack have the following demand curves for pears:

QManny = 100 - 2P = 70 - 2P + 10 Ppear + .25 YManny where P Pear = 2 and YManny = 40.

QMoe = 300 - 4P = 80 - 4P + 35 Ppear + .75 YMoe where P Pear = 2 and YMoe = 200.

QJack = 210 - 5P = 60 - 5P + 15 Ppear + .5 YJack where P Pear = 2 and YJack = 240 .

a. Find the market demand curve for pears if these three guys are the only individuals in the market.

b. Suppose we wish to create perfectly equalitarian society where each guy has an income of 160. Let's tax Jack 80 dollars and Moe 40 dollars. Then let's use those tax revenues to raise Manny's income by 120 dollars. What happens to market demand?

View complete question

Business Economics, Economics

Category:- Business Economics
Reference No.:- M93125452
Price:- $10

Verified Expert

Priced at $20 Now at $10, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Business Economics

1 a firms marginal rate of technical substitution atm p lm

1) A firm's marginal rate of technical substitution at M P L/M P = 3, and the ratio of prices of labor and capital ,w/r, is 4. a) Is the firm minimizing its cost? Why or Why not? b) What can it do to improve its situatio ...

1 under what circumstances is it advantageous for a company

1. Under what circumstances is it advantageous for a company competing in foreign markets to concentrate its value chain activities in a select few locations? Under what circumstances is it advantageous for a company com ...

What are some challenges in delivering health services in

What are some challenges in delivering health services in the peripheral areas?

Why are ideas of modernization cohn 107 and progress so

Why are ideas of "modernization" (cohn, 107) and "progress" so important to the post-World War II

An assembly plant receives its voltage regulator from two

An assembly plant receives its voltage regulator from two different suppliers: 75 percent comes from Hayes Voltage Co. and 25 percent comes from Roming Voltage Co. The percentage of voltage regulators from Hayes that per ...

Cnsider simple linear regressionyi beta0 beta1xi

Consider simple linear regression yi = β0 + β1xi + εi. (1) Let zi = a+ bxi and yi = γ0 + γ1zi + δi . (2) Show that the predicted values of the least-square estimators in (1) and (2) are identical for all xi and zi

According to the same national collegiate athletic

According to the same National Collegiate Athletic Association data, the means and standard deviations of eligibility and retention rates (based on a 1,000-point scale) for the 2013-2014 academic year are presented, alon ...

A student raises her hand in class and states i can legally

A student raises her hand in class and states, "I can legally copy any DVD I get from Netflix because Netflix purchased the DVD and the copyright only applies to the company who purchased the product." Explain whether th ...

What are the assumptions of linear regression analysis and

What are the assumptions of linear regression analysis and, How do we interpret the regression coefficients ,can u give a real life example of how linear regression is used in statistical research

A sample of 189 randomly selected students found that the

A sample of 189 randomly selected students found that the proportion of students planning to travel home for Thanksgiving is 0.66. What is the Standard Deviation of the sampling distribution?

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

Recent Questions

Ask Business Economics Expert