Question: Consider following demand and supply function for a market: D: P=200-5Q; S; P=20+4Q. The market equilibrium quantity is O Q-40 O Q-30 O Q-20 O

Consider following demand and supply function for a market: D: P=200-5Q; S; P=20+4Q. The market equilibrium quantity is O Q-40 O Q-30 O Q-20 O Q-9 D Question 9 Consider the market for wheat, which currently is in equilibrium. A new farming technology makes production cheaper. This will lead to O An increase in equilibrium price and quantity O A decrease in equilibrium price and an increase in equilibrium quantity O An increase in equilibrium price and a decrease in equilibrium quantity O A decrease in equilibrium price and quantity

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

Consider following demand and supply function for a market: D: P=200-5Q; S: P=20+4Q. The market equilibrium quantity is O Q=40 O Q=30 O Q=20 OQ-9 D Question 9 Consider the market for wheat, which...

BUSM Consider a household whose utility is determined by its consumption in periods 0 and 1. Let c0 and c1 denote the consumption in periods 0 and 1, respectively. The utility of this household can...

Question one : consumer choice a. Dave has a budget of $180 a week to spend on food. He likes meat (x) which costs $10 a unit, and potatoes (y) which cost $4 a unit. Calculate and illustrate his...

Explain the following questions.This question is complete IS-LM Model (Based on Mankiw Ch. 12 #3). Use the information about the following economy to build the IS-LM model. a. The consumption...

This are the assino. the question is complete. 2. Suppose a country has a money demand function: (M/P)d = kY, where k is a constant parameter Let's assume that the Money Supply grows by 10%/year and...

need answers 2. Suppose a country has a money demand function: (M/P)d = kY, where k is a constant parameter Let's assume that the Money Supply grows by 10%/year and Real Income grows by 3%/year. a)...

(3) You and a classmate are assigned a project on which you will receive one combined grade. You each want to receive a good grade, but you also want to avoid hard work. In particular, here is the...

econimcs 36574 (3) Appalled by the answer to the previous questions, you set your scientists to work again. They concoct another breakthrough technology that raises medical expenditures without...

Abbas ltd. is a manufacturing company involved in manufacturing plastic products. It has received orders from a foreign company to manufacture plastic bags and disposable cups and which the company...

Can you explain the concept of gap management?

When Apple Computer Companyintroduced the iPhone - - a combination phone, MP 3 player, and Internet access device - - in 2 0 0 7 , it was priced at $ 4 9 9 , considerably higher than either the iPod...

Nationwide Auto Parts uses a periodic review inventory control system for one of its stock items. The review interval is 9 weeks, and the lead time for receiving the materials ordered from its...

5. It is the needs of the individual that are important.

6. It is what the person has previously done for the group that is the deciding factor.

3. It is the commitment you show that is the deciding factor.