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Zinaida [17]
3 years ago
15

Suppose the current price of a good is $160. At this price, the quantity supplied is 130 units, and the quantity demanded is 55

units. For every $1 decrease in price, the quantity supplied decreases by 5 units and the quantity demanded increases by 10 units.
At the current price, the quantity demanded is (greater or less) than the quantity supplied. This means that the market is currently experiencing a (shortage or surplus) . In order to adjust, the market price will (increase or decrease) until the quantity demanded and quantity supplied are equal. The result is an equilibrium quantity of $_____ and an equilibrium price of $_____?
Business
1 answer:
mixer [17]3 years ago
7 0

Answer:

80, 85

Explanation:

At current price,

Quantity Demanded is less than Quantity supplied

As Qd = 55, Qs = 130

• so market is currently experiencing a surplus, as Qs > Qd

•so to adjust, market price will decrease,

so that Quantity Demanded rise & Quantity supplied falls, till Qd = Qs

• eqm Q = 105

• eqm P = $ 155

As if P falls by 1, then P = 159

Qd = 55+10 = 65

Qs = 130-5 = 125

If P = 158, Qd = 75, Qs = 120

If P = 156, Qd = 95, Qs = 110

P = 155, Qd = 105, Qs = 105

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3 0
3 years ago
Read 2 more answers
True or False: If Kevin's Fire Engines were a competitive firm instead and $160,000 were the market price for an engine, decreas
Feliz [49]

Answer:

False

Explanation:

Kevin should not rise the level of production from 5 to 6 as the impact of the price dominates this situation

Also the market is not depend on the Kevin fire engines because of the competitive market

Plus the supply and demand relation is inverse and not depend on the change in price level in a competitive market

If the price is decreased from $160,000 to $120,000 so the quantity of the production would not be impacted

In addition to this, the total revenue could be impacted when there is a reduction in the price that produced more sale due to this there is a slightly change in upward and downward

Also the change would never be in the similar production as compare to the change in price

Therefore the given statement is false

8 0
3 years ago
Suppose the economy is operating at an output of $4,000 billion. Assume furthermore that potential output is $5,000 billion and
motikmotik

Answer:

The correct answer is $250 billion.

Explanation:

An economy is operating at an output level of $4,000 billion.  

The potential output level is $5,000 billion.  

The marginal propensity to consume is 0.75.  

The recessionary gap is

= $5,000 billion - $4,000 billion

= $1,000 billion

ΔY = \frac{1}{1-MPC}\times \Delta G

$1,000 = \frac{1}{1-0.75}\times \Delta G

$1,000 = \frac{1}{0.25}\times \Delta G

$1,000 = 4 \times \Delta G

ΔG = \frac{1,000}{4}

The change in income required to correct this recessionary gap is $250 billion.

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3 years ago
Rank the steps of the (sandwich) ELISA procedure from first step to last step. Do not overlap any steps.
Anvisha [2.4K]

Answer and Explanation:

The ELISA refers to the enzyme-linked immunosorbent assay (ELISA) It is used to determine the existence of an antigen in a sample with the help of antibiotics

The ELISA procedure in sequence form is shown below:

1. The capture antibody is added and then clean it

2. Now adding the blocking buffer and then clean it

3. Now add the samples with controls, Hatch it and clean it

4. Add horseradish peroxidase (HRP) conjugated with the antibody, Hatch it and clean it

5. Add Thymidine monophosphate (TMP)

6. And finally, the last step is to record the results

8 0
3 years ago
The district director of 5 mortgage origination offices staffed by bank associates who cold call potential customers in an attem
Artist 52 [7]

Answer:

Revenue Centre

Explanation:

Revenue Centre is that division or department of the firm which generate or create revenue through sale of the goods and the services. The district director who is managing the 5 mortgage origination offices that is staffed by the bank associates. So, most likely responsible for a revenue centre of the business. And who works for revenue centre is only responsible or accountable for the revenue only.

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3 years ago
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