This topic contains a solution. Click here to go to the answer

Author Question: Consider a market characterized by the following demand and supply conditions: QD= 220 - p and QS= ... (Read 85 times)

haydenjmcm

  • Full Member
  • ***
  • Posts: 161

Question 1

Consider a market characterized by the following demand and supply conditions: QD = 220 - p and QS = 40 + 2p. The equilibrium quantity and price would then be
◦ Q = 220, p = 40.
◦ Q = 21, p = 49.
◦ Q = 160, p = 60.
◦ Q = 72, p = 63.
◦ Q = 60, p = 160.

Question 2

Consider a market characterized by the following demand and supply conditions: QD = 220 - p and QS = 40 + 2p. If the prevailing price on the market is $40, then
◦ the market is clearing.
◦ the market experiences a surplus of 220 units.
◦ the market experiences a shortage of 220 units.
◦ the market experiences a surplus of 60 units.
◦ the market experiences a shortage of 60 units.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by haydenjmcm on Oct 12, 2022

dude123

  • Full Member
  • ***
  • Posts: 171
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 35% of students answer this correctly




haydenjmcm

  • Member
  • Posts: 161
Reply 2 on: Oct 12, 2022
Great answer, keep it coming :)


dantucker

  • Member
  • Posts: 346
Reply 3 on: Yesterday
Gracias!

 

Did you know?

All adults should have their cholesterol levels checked once every 5 years. During 2009–2010, 69.4% of Americans age 20 and older reported having their cholesterol checked within the last five years.

Did you know?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

Did you know?

Immunoglobulin injections may give short-term protection against, or reduce severity of certain diseases. They help people who have an inherited problem making their own antibodies, or those who are having certain types of cancer treatments.

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

Did you know?

Sperm cells are so tiny that 400 to 500 million (400,000,000–500,000,000) of them fit onto 1 tsp.

For a complete list of videos, visit our video library