Question: Microeconomics Question Please assess if I did this problem correctly and explain if I didn't. The demand and supply schedules for sunscreen at a small

Microeconomics Question

Please assess if I did this problem correctly and explain if I didn't.

The demand and supply schedules for sunscreen at a small beach are shown below. Market for Sunscreen Quantity of Quantity of Price Sunscreen Sunscreen (dollars per Demanded Supplied bottle) (bottles) (bottles) $40 1,200 4,800 35 2,200 4,000 30 3,200 3,200 25 4,200 20 5,200 1,500 5 6,200 000 Instructions: Enter your answers as a whole number. a. If the price is $35 per bottle, how many bottles of sunscreen are demanded and supplied in equilibrium? 0d: bottles 05 = bottles In this case, there would be pressure on the price. 13. What is the equilibrium price and quantity in the market for sunscreen? P= $ 0 = bottles

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!

A heat exchanger used to heat a glycol solution with a hot oil is known to exhibit first-order-plus-time-delay behavior, G 1 (s) = T?(s)/Q?(s), where r is the outlet temperature deviation and Q? is...

Microeconomics question... Please help me solve these questions. And make it an original work. 1) ECON10004: INTRODUCTORY MICROECONOMICS ASSIGNMENT 1: SEMESTER 1, 2018 Due: Monday, April 16, 14:00 ....

Please look over my work with the questions on the homework sheet, they are all labeled. The first few pages are my work, last few pages are the questions Gianna Gajdos Homework 1 This graph...

MGMT-6082 Domestic and International Sourcing Mid Term Case Smart Phone Corporation (25%) Individual Submission (60%) Students are to submit their individual preparation on the Mid Term Case 72 hours...

entrepreneurial management please dont answer the same as two experts already answer and i already know what they answered as i already posted the same question twice. only instruction: CASE 6 THE...

1-2 pages of five supply chain lessons learned from the Boeing case. Each lesson can be in a short paragraph. Managing New Product Development and Supply Chain Risks: The Boeing 787 Case The 787...

Please help me answer the questions below. This is Microeconomics subject , below is a case study. Case study: BACIOO How to Study for Chapter ? Case Studies Using Demand and Supply Analysis This...

N Py @ ezto.mheducation.com Wk 2 - Apply: Market Dynamics and Efficiency [due ... 1 points Saved The demand and supply schedules for sunscreen at a small beach are shown below. Market for Sunscreen...

..Please help solve the following micro-economic questions.. Not copied from other tutors or sources. Please answer the below questions 1. Question 1. (Show all calculations] Zack owns a vineyard...

Case Analysis read the two cases below words :500 The topic of this paper is Operations Management and Value creation: Lessons from cases. Summarize both cases (Roche and Atlantic Animal Hosptial)...

Final Project Assignment SCM 301 Fall 2015 Overview of the Case Analysis We have discussed many concepts in SCM 301 related to planning, sourcing, making and delivering products and services. The...

What are main mechanisms in mobile network for attaining location?

Given the following data for E-Z Company, compute cost of goods manufactured: Direct materials used Beginning work in process Direct labor $130,000 $10,000 210,000 Ending work in process 20,000...

x ( t ) = xi + vit + 1 2 at 2 x ( t ) = xi + vit + 1 2 at 2 , v ( t ) = vi + atv ( t ) = vi + at , where the symbols are defined as follows: x ( t ) x ( t ) is the position of the particle at time...

Calvin Industries produces high-end flutes for professional musicians across the globe. Actual fixed manufacturing overhead for the year was $1,250,000, while the budgeted fixed manufacturing...

A summary of the time tickets for the current month follows: Job No. Amount Job No. Amount 100...............$ 3,500.........Indirect.........$ 9,100...

Boxer Manufacturing produces luxury dog houses. Each dog house requires 4.0 hours of machine time for its elaborate trim and finishing. For the current year, Boxer calculated its predetermined fixed...

GenX Furnishings Company manufactures designer furniture. GenX Furnishings uses a job order cost system. Balances on June 1 from the materials ledger are as follows:...

The Consumer Reports National Research Center conducted a telephone survey of 2000 adults to learn about the major economic concerns for the future (Consumer Reports, January 2009). The survey...

Question 28 One of the class readings talks about airlines ordering larger jets with more rows of seats. How does that help the airlines? Group of answer choices Larger number of seats deliver...

Subjective norms, i.e. the norms of the target group

The temporal rule: The closer temporal proximity we have to an event or action, the more probable it is that the distortion of information is less than if the event or action happened longer ago.

The relevance of the information to the interpreter