Assume that a country has a domestic demand curve defined as Qd = 100 - 2P and a domestic supply curve defined as Qs = -20 + 3P. What is the autarchy equilibrium price and quantity?

What will be an ideal response?

100 - 2P = -20 + 3P => P = 120/5 = 24 and Q = 52

Economics

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Which of the following will likely increase the demand for downtown parking in a large city?

A) Improved bus service to the downtown area B) Lower downtown parking fees C) More downtown parking lots D) More freeways leading to the downtown area E) Much higher gasoline prices

Economics

If marginal costs for a firm are constant would the average total cost curve still have be u-shaped? Explain

What will be an ideal response?

Economics