Question: quantity supply qs = 4p quantity demand qd = 400-p The equilibrium price is $ jQuery22401464928207816203_1615779696692 and the equilibrium quanitity is ?? If price floor

quantity supply qs = 4p

quantity demand qd = 400-p

The equilibrium price is $jQuery22401464928207816203_1615779696692 and the equilibrium quanitity is ??

If price floor is 60, the price floor is ?? and the market price will be $??

The quantity supplied will be ?? and quantity demand will be ?? Therefore, a price floor of $60 will result in ??

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!

Q:

The question is reposted below for your reference ABC is a small open economy in the world market for watches. The market for watches in ABC is given as follows: (Domestic) Supply: QS= 500 + 4P...

Q:

3 . Straight - line demand and supply curves can be represented by algebraic equations. Supply: Qs = 2 P - 6 0 Demand: Qd = 3 0 0 - P a ) Given the following algebraic expressions for supply and...

Q:

3 . Straight - line demand and supply curves can be represented by algebraic equations. Supply: Qs = 2 P - 6 0 Demand: Qd = 3 0 0 - P a ) Given the following algebraic expressions for supply and...

Q:

1. The price of a cheeseburger increases from 26 to 30. As a result, the owner of a burger shop increases the quantity supplied from 210 to 410. The price elasticity of supply is [Answer] . 2....

Q:

Consider the market for coffee beans in Nova Scotia. If p is the price of coffee beans and Q is the quantity of coffee beans, suppose that the demand and supply curves for coffee bears are given...

Q:

4Suppose that the monthly supply and demand for widgets could be approximated as follows: Supply: Qs = 4128 + 144P Demand: Qd= 15488- 176P where P is the unit price in dollars, and Q is the quantity...

Q:

Consider a market for wheat. Suppose the supply and demand curves are linear, namely Supply: Qs = 120 + 240P Demand: Qd = 300 - 120P a ) (5%) What is the equilibrium price and quantity? b ) (5%) What...

Q:

The demand and supply functions of a good in the market are given as follows: Qd = 100 - 3p Qs =2p-20 Where, Qd is quantity demand, Qs is quantity supply and 'p' is price. a) Derive the equilibrium...

Q:

The following is a list of housing costs in five different countries along with their CPI. What is the real cost of year 1 housing using year 2 as the base year for the above 5 countries? (5 points)...

Q:

A market is described by the following supply and demand equations: Supply: Q s = 3P - 30 Demand: Q d = 100 - 2P Answer the following questions: Draw the graph and determine equilibrium price and...

Q:

If a person dies without leaving a valid will, how is the distribution of property regulated?

Q:

Which of the following is incorrect about dislocation of lunate: A Dislocated lunate appears triangular instead of rectangular on A.P. x-ray Dislocation is most easily recognised on lateral view...

Q:

How often should you run the Order Point Report ( ROP ) ? Hourly Daily Weekly Quarterly Once a Year

Q:

An air-standard cycle is executed in a closed system with 0.004 kg of air and consists of the following three processes: 1-2 Isentropic compression from 100 kPa and 27C to 1 MPa 2-3 P = constant heat...

Q:

Give an acceptable IUPAC name for each of the following Alkanes: (a) CH2 CH3 CH3CH2CHCHCHCH2CHCH3 CH3 CH3 CH3 (b) (CH3CH2)2CHCH2CH (CH3)2 (c) CH3 CH3CH2CHCH2CHCH2CHCH (CH3)2 CH2CH3 CH2CH (CH3)2

Q:

A bucket of mass m and volume V is attached to a light cart, completely covering its top surface. The cart is given a quick push along a straight, horizontal, smooth road. It is raining, so as the...

Q:

A solid uniform 45.0-kg ball of diameter 32.0 cm is supported against a vertical frictionless wall using a thin 30.0-cm wire of negligible mass, as shown in Fig. 5.47. (a) Make a free-body diagram...

Q:

A car initially traveling eastward turns north by traveling in a circular path at uniform speed as in Figure P6.10. The length of the arc ABC is 235 m, and the car completes the turn in 36.0 s. (a)...

Q:

Write a program to wish happy birthday to a student. Firstly, take today month and day as an input and secondly take birthday as an input in the form of month and day. If the input day and month...

Q:

1. To provide an understanding of how emotions are regulated by the development of relationships between actors in a communication situation.

Q:

Positive effect on trusting others, and also improvements in the final results.

Q:

1. Discuss the following statements: a) Local links generate collective behaviours. b) An unfamiliar system will be described as chaotic by the ignorant. c) When we see that something is happening,...