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lorasvet [3.4K]
3 years ago
13

The town of snowville is concerned that its rental property market is overpriced. the demand for rental housing is p = 48 - 2q,

while the supply of rental housing is p = 12 + q. if the town imposes a price ceiling of 16 dollars, and the quantity demand will be ___ while quantity supply will be ___.
Business
1 answer:
goblinko [34]3 years ago
6 0
For this case what you should do is to clear q in both equations with a price of p = 16 $
 We have then:
 For the demand
 p = 48 - 2q
 q = (48 - p) / 2
 q = (48 - 16) / 2
 q = 16
 For the supply:
 p = 12 + q
 q = p-12
 q = 16-12
 q = 4
 Answer:
 if the town imposes a price ceiling of 16 dollars, and the quantity demand will be 16 while quantity supply will be 4.
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<u>Giselle should purchase points</u> to lower the interest rate of the mortage, this will make the cuota decrease.

Explanation:

163000 x20% = 32,600

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current mortgage cuota:

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C \times \frac{1-(1+0.0625/12)^{-30*12} }{0.0625/12} = 130,040\\

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800.68/ 2,986 = 0.2681 = 26.81%

this cuota exeeds the desired amount Giselle wants.

her couta can be as much as 2,986 x 25% = 746.5

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A nondiscriminating monopolist:
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Therefore, it is clear that a monopolist will not produce when the demand for a good is inelastic.

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