Microeconomics (9th Edition) (Pearson Series in Economics)
9th Edition
ISBN: 9780134184241
Author: Robert Pindyck, Daniel Rubinfeld
Publisher: PEARSON
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Chapter 1, Problem 6RQ
To determine
Calculation of real
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Imagine you are a bank manager. Currently, your bank holds $8 million in deposits at a 4% interest rate. However, you need to increase the total deposits to $10 million. The interest rate elasticity of savings is 40.
What interest rate should you offer to depositors to obtain the required amount, all other things being equal?
Find the level of income when the quantity is given as $930 and the price is given as $460
Given the following information:
QD= 240-5P
QS= P
Where QD is the quantity demanded, QS is the quantity supplied and p is the price. Calculate buyer’s reservation price _____________.
Given the following information:
QD= 240-5P
Qs= P
Where QD is the quantity demanded, QS is the quantity supplied and p is the price. Calculate seller’s reservation price ______________.
Chapter 1 Solutions
Microeconomics (9th Edition) (Pearson Series in Economics)
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