7. Let (inverse) demand be Pb = 105 - 1 Qb and (inverse) supply be Pv = 16 + 3 Qv. How much consumer surplus does the last consumer to purchase (at Q*) receive? Answer: your answer Submit Price ($) $350 $300 $250 $200 $150 $100 $50 $0. -O 0 20 20 Demand Quantity 40 Supply 60 Quantity Eqm 80 100 120

A manufacturer of hospital supplies has a uniform annual demand for 180,000 boxes of bandages. It costs $20 to store one box of bandages for one year and $500 to set up the plant for production. How many times a year should the company produce boxes of bandages in order to minimize the total storage and setup costs? The company should produce boxes of bandages time(s) a year. you ge.. Next R. RAZER

Describe how the elasticity of demand behaves in the long run?

Hg

Define market supply in one sentence.

How does the nature of input impact the elasticity of supply of a good.  I need a brief explanation. Please don't write big essay

Explain briefly what is a supply curve.