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3 years ago

A. what will be the quantity demanded at $150 per game console? quantity demanded: game consoles

Business

1 answer:

lys-0071 [83]3 years ago

5 0

Answer:

The answer is 13500$.

Explanation:

a) at P = 150$, Qd = 80.

b) at P = 150, Qs = 20.

c) produce surplus = 1/2 x 20 x (150 -100)

= 500$.

d) at equilibrium, P = 250 $

= 1/2 x 60 x (550 -100)

= 13500$.

You might be interested in

The cob Douglas production function is given by Q(K,L)=AK^1.4*L^1.6

Alexeev081 [22]

Part a) The Cob Douglas production function is given as:

$Q(K,L)=AK^{1.4} L^ {1.6 } .$

To show that this function is homogeneous with degree 3, we introduce be a parameter, t.

$Q(tK,tL)=A(tK)^{1.4} (tL)^ {1.6 } .$

Using properties of exponents, we on tinder:

$Q(tK,tL)=At^{1.4}K^{1.4} t^ {1.6 }L^ {1.6 } .$

This implies that:

$Q(tK,tL)=t^{1.4} \times t^ {1.6 }(AK^{1.4} L^ {1.6 } )$

$Q(tK,tL)=t^{1.4 + 1.6}(AK^{1.4} L^ {1.6 } )$

Simplify the exponent of t to get;

$Q(tK,tL)=t^{3}(AK^{1.4} L^ {1.6 } )$

Hence the function is homogeneous with degree, 3

Part b) To verify Euler's Theorem, we must show that:

$K\frac{\partial Q}{\partial \: K}+L\frac{\partial Q}{\partial \: L}=3AK^{1.4}L^{1.6}$

Verifying from the left:

$K\frac{\partial Q}{\partial \: K}+L\frac{\partial Q}{\partial \: L} =K(1.4AK^{0.4} L^{1.6}) + L(1.6AK^{1.4} L^{0.6})$

$K\frac{\partial Q}{\partial \: K}+L\frac{\partial Q}{\partial \: L} =1.4(AK^{1.4} L^{1.6}) + 1.6(AK^{1.4} L^{1.6})$

$K\frac{\partial Q}{\partial \: K}+L\frac{\partial Q}{\partial \: L} =(1.4 + 1.6)(AK^{1.4} L^{1.6})$

$K\frac{\partial Q}{\partial \: K}+L\frac{\partial Q}{\partial \: L} =3(AK^{1.4} L^{1.6})$

Q•E•D

8 0

3 years ago

A cell phone provider charges felicia $50 per month for her plan plus $0.05 per min of long distance calls.if felicia wants to k

Sunny_sXe [5.5K]

$0.05m + $50>55

0.05 per minute plus $50 per month for the plan less than $55

7 0

3 years ago

Joe sells the house he has lived in for 10 years to the Smith family for $300,000. He receives $50,000 more than his original pu

jasenka [17]

Answer:

$15,000

Explanation:

Joe has sold the house he has been living in for 10 years to the Smiths family

He sold the house at $300,000

Joe receives $50,000 more than the original price bargained 10 years ago

He pays the real estate agent a commission of 5%

= 5/100

= 0.05

Therefore the increase in gross domestic product can be calculated as follows

= $300,000×0.05

= $15,000

Hence, the transaction will increase the gross domestic product by $15,000

5 0

3 years ago

If each extra worker produces four additional units of output, how do the total product of labor, average product of labor, a

Ne4ueva [31]

So the thing here is that n workers produce n units of output, and so the total product of labor equals the number of workers: q = L

$MP_{L}$ will differ by labor because the extra workers creates one more units of output, $MP_{L}$ = ∆q/∆L= 1

$AP_{L}$ will differ by how much labour was put into it:divide both sides of the production function, $AP_{L}$ = q/L= 1

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Hope this helps, now you know the answer and how to do it. HAVE A BLESSED AND WONDERFUL DAY! As well as a great rest of Black History Month! :-)

- Cutiepatutie ☺❀❤

4 0

3 years ago

If a company paid $38,000 of its accounts payable in cash, what was the effect on the accounting equation? Multiple Choice Asset

Tom [10]

Answer:

Assets increase by $75,000 and liabilities increase by $75,000.

Explanation:

6 0

2 years ago