Answer the question based on the following supply and demand schedules in units per week for a product.Price Quanity Demanded Qu
1 answer:
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Answer:
a) Qs = 50 + 20p - 7ps
= 50 + 20p - 7×(2)
= 50 + 20p - 14
= 36 + 20p
At equilibrium, =
So, 150 - 10p + 5 = 36 + 20p
So, 20p + 10p = 30p
= 150 - 36 + 5
= 114 + 5
So, p = (114/30) + (5/30)
= 3.8 + 0.17
Thus, = 3.8 + 0.17
Q = 36 + 20p
= 36 + 20(3.8 + 0.17)
= 36 + 76 + 3.4
= 112 + 3.4
Thus, = 112 + 3.4
b) = 3.8 + 0.17
= 3.8 + 0.17×(5)
= 3.8 + .85
= 4.65
= 112 + 3.4
= 112 + 3.4(5)
= 112 + 17
= 129
c) Qd = 150 - 10p + 5pb = 150 - 10(2.5) + 5(5) = 150 - 25 + 25 = 150
Qs = 36 + 20p = 36 + 20(2.5) = 36 + 50 = 86
Thus, there is excess demand as >
d) New = 180 - 10p + 5
= 180 - 10p + 5×(5)
= 180 - 10p + 25
= 205 - 10p
Now, new =
gives,
205 - 10p = 36 + 20p
So, 20p + 10p = 205 - 36
So, 30p = 169
So, p = 169÷30
So, = 5.63
Q = 205 - 10p = 205 - 10×(5.63) = 205 - 56.3 = 148.7
So, = 148.7
Answer:
704076 $
Explanation:
Exact statement of the question is:
<em>May 3, 2007, Leven Corp. negotiated a short-term loan of $685,000. The loan is due October 1, 2007, and carries a 6.86% interest rate. Use ordinary interest to calculate the interest. What is the total amount Leven would pay on the maturity date? (Round your answer to 2 decimal places. Omit the "$" sign in your response.)</em>
Solution:
Fro 3rd May to October 1st. 2017 there are 151 days
But 365 days = 1 year
==> 151 days = 151× 1/365 =0.414 years
But we use 1 year as one term
==> 1year = 1T
==> T = 0.414
R= 6.86
P= 685000
A=?
We use formula for the term:
A= P
Where A= ammount at the end of term
P= Loan amount
R= Rate of interest
T= No. of terms
Putting values in this formula;
==> A= 685000×
==> A= 685000 × 1.02784938489=704076 $