1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Alina [70]
3 years ago
11

The demand for apples in the U.S. is Qus = 800 - 20P, and Foreign Demand for apples is Qf = 1200 - 40P, where quantity demanded

is measured in millions of bushels and price is in dollars per bushel. The world demand for apples is therefore
1. Q = 400 - 20P when P is $20 or less.

2. Q = 2000 - 60P when P is $30 or less.

3. Q = 2000 - 220P when P is $30 or less.

4. Q = 400 + 20P for all prices..

The world supply of apples is Qs = 200 + 30P. Therefore, the world equilibrium price for apples is $___ per bushel and the equilibrium quantity of apples is ___ million bushels.

At the equilibrium price, ___ million bushels will be sold in the U.S., and ___ million bushels will be sold in foreign markets
Business
1 answer:
MA_775_DIABLO [31]3 years ago
5 0

Answer:

Option (2) is correct.

$20; 800

400;400

Explanation:

Given that,

Demand for apples in the U.S. : Qus = 800 - 20P

Foreign Demand for apples: Qf = 1200 - 40P

World Demand for apples, Qwd

= Demand for apples in the U.S. + Foreign Demand for apples

= Qus + Qf

= 800 - 20P + 1200 - 40P

= 2,000 - 60P

Equilibrium price for apples is at a point where the world supply is equal to the world demand for apples:

Qwd = Qws

2,000 - 60P = 200 + 30P

1,800 = 90P

P = 20 ⇒ world equilibrium price for apples

Therefore,

world supply of apples is Qs = 200 + 30P

                                                = 200 + 30(20)

                                                = 200 + 600

                                                = 800

At equilibrium Pw = $20

Demand for apples in the U.S. : Qus = 800 - 20P

                                                            = 800 - 20(20)

                                                            = 800 - 400

                                                            = 400

You might be interested in
The paying of a fee to use another firm�s name, resources, and operating systems is called __________.
s344n2d4d5 [400]
Franchising is the practice of paying a company to use its name, resources and operation systems.
7 0
3 years ago
Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. During Jun
Leya [2.2K]

Answer:

The accounting equation holds as follows:

Asset = Liabilities + Equity = $80,000

Explanation:

Note: See the attached excel file for the analysis of the Effect of June Transactions on the Accounting Equation

From the last balances in the attached excel file, we have:

Assets = Cash + Receivable + Equipment = $41,000 + $8,000 + $31,000 = $80,000

Liabilities = Payable = $0

Equity = M. Chen, Capital - M. Chen, Withdrawals + Revenue - Expenses = $75,000 - $1,000 + $10,500 - $4,500 = $80,000

Liabilities + Equity = $0 + $80,000 = $80,000

Therefore, the accounting equation holds as follows:

Asset = Liabilities + Equity = $80,000

Download xlsx
4 0
2 years ago
Which of the following describes the goal that should be pursued when setting transfer prices? Minimize opportunity costs. Maxim
nata0808 [166]

Answer:

Establish incentives for autonomous division managers to make decisions that are in the overall organization's best interests (i.e., goal congruence).

4 0
3 years ago
Read 2 more answers
You are planning to place an ad in a local newspaper. The size of the ad is 5 inches long by 4 columns wide. The newspaper's rat
Darya [45]
If you are planning to place an ad in a local newspaper with a size of 5 inches long by 4 columns wide and the newspaper's rate per column inch is $18, the ad will cost $360.

Solution: <span>5 inches x 4 columns = 20
               20 column inch x $18 = $360</span>
8 0
3 years ago
Suppose that the vast majority of 3/4 ton pick-up trucks in America are produced by companies A, B, C, and D and that they all s
andrew-mc [135]

Answer:

b. A very large increase in sales. A very rapid and similar response by the other large firms in the industry.

Explanation:

As for the information there is no clear agreement to sell the goods at the same price, like that of other industries.

Further since all the companies follow the same price, there is no such differentiation.

In case one of the companies, in our case company A if decreases the price then it will abruptly that is in no clear sequence will increase its sales, and the after effects will also include the decrease in prices by other remaining industries that is B, C and D.

4 0
3 years ago
Other questions:
  • Acme Corporation (Scenario) Acme Corporation's management feels that employees could be more motivated by their jobs. The jobs w
    14·1 answer
  • A Romer economy starts off with an initial stock of ideas equal to 100. The total population in the economy is 60, two of the wo
    14·1 answer
  • Find the value of a stock that is expected to pay a dividend next year of 2.20 assuming you are required return is 12 percent.
    10·1 answer
  • JDW Corporation reported the following for 20X1: net sales $2,929,500; cost of goods sold $1,786,995; selling and administrative
    10·1 answer
  • Which of the following best illustrates the spirit of stewardship? Lobbying government officials to increase the drilling for of
    12·2 answers
  • What are tax credits?
    6·1 answer
  • Some people are in favor of reducing Federal taxes to increase consumer spending others are against it. Two person are selected
    7·1 answer
  • Waterloo, Ltd. manufactures a component used in aircraft navigation systems. Demand has been strong and the executive staff at W
    7·1 answer
  • Rebotar Inc, makes basketballs. Their fixed costs are $3450 Variable costs are $12 per basketball, If the basketball is priced a
    14·1 answer
  • (Present value) What is the present value of the following future amounts? a. $800 to be received 10 years from now discounted b
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!