SHORT ANSWER PROBLEMS 1. Consider the following demand and supply functions: Qd = 1‚600 – 125P Qs = 440 + 165P (a) Calculate the equilibrium price and quantity that will prevail under a completely free market. (b) Calculate the price elasticity of supply and demand at the equilibrium values. 2. Suppose the demand curve for a product is given by Q = 10 – 2P + Ps ‚ where P is the price of the product and Ps is the price of substitute good. The price of the substitute good is $2
Premium Supply and demand Consumer theory Price elasticity of demand
TUTORIAL1 WITH INFORMATION TO SOLUTIONS 1. For most products‚ higher prices result in a decreased demand‚ whereas lower prices result in an increased demand. Let d = annual demand for a product in units p = price per unit Assume that firm accepts the following price-demand relationship as being realistic: d = 800 – 10p where p must be between $ 20 and $70. a. How many units can the firm sell at the $ 20 per-unit price? At the $ 70 per-unit price?
Premium Costs Variable cost
Notes: Environmental Decision-Making – Exploring Complexity and Context – Ronnie Harding‚ Carolyn MHendriks‚ Mehreen Faruqi – The Federation Press – 2009 Chapters 1‚ 3‚ 7‚ 8 Page 237 Fig 9.2 Chapter 1 – Environmental Decision-making in a complex world * Layers of complexity associated with contemporary environmental dilemmas- contemporary Environmental Decision-Making (EDM) * Issues under consideration are complex & involve a host of moral & economic factors * EDM not only encompasses
Premium Sustainability
A Brief Tutorial on Drawing Lewis Dot Structures (YouTube references at the end) Procedure for Neutral Molecules (CO2) 1. Decide how many valence (outer shell) electrons are posessed by each atom in the molecule. 2. If there is more than one atom type in the molecule‚ put the most metallic or least electronegative atom in the center. Recall that electronegativity decreases as atom moves further away from fluorine on the periodic chart. Arrangement of atoms in CO2: 3. Arrange
Premium Electron Atom Electric charge
University of Newcastle ECON1001 – Microeconomics for Business Decisions TUTORIAL REVISION EXERCISES Set 1 Working independently‚ you should prepare written answers to hand in for the questions marked with #. Answers should by Typed. Answers to the submitted weekly set of revision questions should not exceed 300 words in total. (This excludes diagrams and tables.) Answers must be submitted to the tutor at the beginning of the tutorial. Answers to the other questions should also be attempted with notes
Premium Economics Microeconomics
Muscle Contraction Tutorial/Review 1. Hydrolysis is the decomposition of a substance by the insertion of water molecules between certain of its bonds. The third phosphate is removed by hydrolysis and free energy is released. ADPneedds to have another phosphate molecule in order to become ATP and this happens through hydrolysis. This ATP can be used in the muscle contraction and relaxation. 2. When one flexes his/her arm‚ the muscle on top is the bicep. The origin of the bicep is at the tubercule
Premium Muscle
HTML Goodies http://www.htmlgoodies.com/tutorials/getting_started/article.php/3863271/How-To-Build-a-Website-HTML-CSS-and-HTML-Editors.htm Contains tips‚ guides‚ references and tutorials for new and experienced website developers W3Schools.Com http://www.w3schools.com/ Web developer information with tutorials and references for topics such as HTML‚ CSS‚ and JavaScript Lifehacker http://lifehacker.com/5790955/how-to-make-a-web-site-the-complete-guide A step by step guide to making a website
Premium Web design Website World Wide Web
@AIRBUS A320 AIRCRAFT CHARACTERISTICS AIRPORT AND MAINTENANCE PLANNING AC The content of this document is the property of Airbus. It is supplied in confidence and commercial security on its contents must be maintained. It must not be used for any purpose other than that for which it is supplied‚ nor may information contained in it be disclosed to unauthorized persons. It must not be reproduced in whole or in part without permission in writing from the owners of the copyright. Requests for
Premium 1967 1970
Computational Modelling and Simulation of Aircraft and the Environment Computational Modelling and Simulation of Aircraft and the Environment: Platform Kinematics and Synthetic Environment Volume 1 D.J. Diston © 2009 John Wiley & Sons‚ Ltd. ISBN: 978-0-470-01840-8 Computational Modelling and Simulation of Aircraft and the Environment Volume 1: Platform Kinematics and Synthetic Environment Dominic J. Diston University of Manchester‚ UK A John Wiley and Sons‚ Ltd.‚ Publication This
Premium Computer simulation Model
HIPAA Tutorial University of Phoenix Health Care Communication Strategies HCS 320 March 27‚ 2013 HIPAA Tutorial The tutorials on HIPAA‚ Health Insurance Portability and Accountability Act‚ is a reminder that there is constant need for improvement on the part of health care individuals. There is a need among health care workers to know the rules and guidelines to stay within the laws set forth by the federal government. What did you learn from the HIPAA tutorial? There is a lot of
Premium Health care Health care provider