1) Dry cleaning of clothing produces air pollutants. Therefore, in the market for dry cleaning services, the equilibrium price: A) is too low to be optimal, and equilibrium quantity is too high. B) is optimal, but there is an excess supply. C) and output are too high to be optimal. D) is too high to be optimal, and equilibrium quantity is too low. E) and output are too low to be optimal.

An increase in technology with a simultaneous decrease in the number of buyers will cause the equilibrium price to fall and equilibrium quantity to be indeterminate. True False

I) The demand for petroleum is given by QD=85 − 0.4? where Q Dis the quantity demanded in thousands of barrels per day and P is the price per barrel in dollars. The supply of petroleum is given by QS=55+0.6?. Calculate the equilibrium price and quantity in this market.   II) In the context of the problem in part (i), calculate the demand and supply for petroleum if the market price is $15 per barrel. What problem exists in the economy?

Above is the demand schedule for tickets to a Carnegie Hall performance of the Grateful Dead. Carnegie Hall seats 1,800 people.   What is the equilibrium price and quantity for a concert of the Grateful Dead at Carnegie Hall?   If tickets were sold for $18, what would happen (be specific)?

Which of the following statements is correct? Multiple Choice   If supply decreases and demand decreases, equilibrium price is indeterminate.   If supply decreases and demand decreases, equilibrium price will rise.   If supply decreases and demand decreases, equilibrium price will fall.   If supply decreases and demand decreases, equilibrium quantity will rise.

not use ai please

At a price of $100 per office chair, 120 office chairs are demanded by consumers, but at a price of $110 per office chair, only 90 office chairs are demanded. The supplier is willing to supply x office chairs for a price, in dollars, of p(x) = 0.175x + 63.75. (a) What is the market equilibrium quantity of office chairs? office chairs (b) What is the market equilibrium price in dollars? $

A city passes a law that automobile prices may not increase. The auto market is currently in equilibrium. What will happen in that market if costs of producing autos increase? Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer. a More than the allocatively efficient amount will be produced. b Less than the allocatively efficient amount will be produced. c The allocatively efficient amount will be produced but there will be a shortage. d The allocatively efficient amount will be produced but there will be a surplus.

The demand curve for rooms at a hotel in Oakland is given by PD = 250 - 1.5*QD. The supply curve of rooms for the same hotel in Oakland is given by Ps = 45 + Qs. The equilibrium quantity is rooms and the equilibrium price is $.

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