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Goryan [66]
3 years ago
10

The widget market is competitive and includes no transaction costs. Five suppliers are willing to sell one widget at the followi

ng prices: $20, $12, $8, $4, and $2 (one seller at each price). Five buyers are willing to buy one widget at the following prices: $8, $12, $20, $32, and $44 (one buyer at each price).
For each price shown in the following table, use the given information to enter the quantity demanded and quantity supplied.
Price Quantity Demanded Quantity Supplied
($ per widget) (widgets) (widgets)
$2
$4
$8
$12
$20
$32
$44
In this market, the equilibrium price will beper widget, and the equilibrium quantity will be (0 or 5 or 2 or 1 or 3 or 4) widgets.
Business
1 answer:
kobusy [5.1K]3 years ago
6 0

Answer:

Price            Quantity Demanded            Quantity Supplied

$2                        5                                            1

$4                        5                                            2

$8                        5                                            3

<u>$12                       4                                            4</u>

$20                      3                                            5

$32                      2                                            5

$44                      1                                             5

the equilibrium price is $12 with 4 units demanded and supplied

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Janice would like to send her parents on a cruise for their 25th wedding anniversary. She has priced the cruise at $15,000 and s
pochemuha

Answer:

Annual deposit= $2,456.96

Explanation:

Giving the following information:

The number of years= 5 years

Final value= $15,000

Interest rate= 10%

We need to calculate the annual deposit to reach the objective. We will use the following formula:

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

A= (15,000*0.1) / [(1.10^5)-1]

A= $2,456.96

3 0
3 years ago
In their business​ partnership, George has an ownership interest of 56​% and Ben has an ownership interest of 44​%. In the curre
SVETLANKA909090 [29]

Answer:

(D) ​George, Capital will increase by $6,700 and​ Ben, Capital will increase by $3,100.

Explanation:

Transaction for the event

Dr.   Equipment (Asset)      9800

Cr.   George (Capital A/c)   6700

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So.

George, Capital will increase by $6,700 and​ Ben, Capital will increase by $3,100 on the basis of their contribution in the purchase of equipment. So option D is true based on this event.

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Steven consumes only two goods, both of which are normal goods. He is currently maximizing his utility in consumption of both go
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Answer:

The answer is: remain the same

Explanation:

The marginal utility of a good or service is how much better we feel when consuming an extra unit of that good or service. For example if we are very thirsty, the marginal utility of consuming a can of Coke is very large, but once our thirst is quenched, an extra can of Coke will not provide use with that much satisfaction as before.

If the price of a substitute good increases, the marginal utility of the good whose price didn't change, will remain the same.

Let's go back to the Coke example. An extra can of Coke will give me 5 more satisfaction units (I'm assuming I can measure satisfaction) and an extra slice of pizza will give me 7 more units of satisfaction. If the price of Coke increases from 50 cents to $1, its marginal utility will decrease. I will buy more pizza because the satisfaction I get from drinking Coke is now smaller.

4 0
3 years ago
Which category of GDP does each of the following items count in? Enter one of the following letters to correspond to consumption
elena-14-01-66 [18.8K]

Explanation:

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<em>This is a expense of the U.S government. </em>

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<em>This is a expense of the U.S government. </em>

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<em>This is private investment of the bakery. </em>

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<em>This is private investment because if his office looks better maybe this will attract more clients. </em>

-A family rents a beach house for a week's vacation __C__.

<em>This is household’s consumption. </em>

-A retiree in Chicago receives a Social Security check from the U.S. Treasury__G___  

<em>This is an expense of the U.S government</em>.

-A factory in the U.S. produces chemicals and sells them to a firm in Canada __NX___ .

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