QUESTION 10 Assume that Japan is the main supplier of cars to the US. Japanese supply is given by Qs = 40p. American demand is given by Qd = 8000-10p. What is the price in this market. O 80 O 100 160 200

50. What Adam Smith was claiming about the supply process can be translated into moden language as (2점) 01) The supply curve is upward-sloping O2) The supply curve is vertical 03) The supply curve is downward-sloping 04) The supply curve is horizontal

only typed answer Q1   Assume that the demand curve D(p) given below is the market demand for widgets:   Q=D(p)=1291−14pQ=D(p)=1291-14p, p > 0   Let the market supply of widgets be given by:   Q=S(p)=−5+10pQ=S(p)=-5+10p, p > 0   where p is the price and Q is the quantity. The functions D(p) and S(p) give the number of widgets demanded and supplied at a given price.   What is the equilibrium price?   Please round your answer to the nearest hundredth.   What is the equilibrium quantity?   Please round your answer to the nearest integer.   What is the total revenue at equilibrium?   Please round your answer to the nearest integer.

The discovery of a large new reserve of crude oil will shift the gasoline, leading to a equilibrium price. O supply; lower O supply; higher O demand; higher demand; lower curve for

2. Suppose the demand equation for computers by Teetan Ltd for the year 2017 is given by Qd= 1200-P and the supply equation is given by Qs= 120+3P. Find equilibrium price and analyse what would be the excess demand or supply if price changes to Rs 400 and Rs 120.

Pace of Good X (dollars) C D D A S₁ D₂ D₁ ·01 Quantity of Good X In the diagram above, which of the following would most likely change equilibrium from point A to point D? O A(n) decrease in the price of good X O A(n) increase in population O A(n) decrease in the price of a complementary good A(n) decrease in the price of a substitute good O A(n) increase in the price of an input

Refer to the figure below. Which of the statements below is entirely correct? ,S2 Price per pizza a 0 S1 Qu thousands of pizzas per month O Over time, supply rotates from S₁ to S₂, that is, it becomes more elastic. O Over time, supply rotates from S₂ to S₁, that is, it becomes more elastic. O Over time, supply rotates from S₁ to S₂. that is, it becomes more inelastic. O Over time, supply rotates from S₂ to S₁, that is, it becomes more inelastic.

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QUESTION 2 28 24 20 16 12 8 4 0 P b) 10 c) 12 d) 16 e) 20 0 4 8 02. Quantity supplied at price = $10 is O a) 8 12 16 20 S1 D1 24 Q

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