Solved: Draw the demand and supply curves what is unusual about, Microeconomics

+44 141 628 6080
[email protected]

Draw the demand and supply curves what is unusual about

Suppose that the price of basketball tickets at your college is determined by market forces. Currently, the demand and supply schedules are as follows:

Price($) Quantity Demanded Quantity Supplied

4 10,000 8,000

8 8,000 8,000

12 6,000 8,000

16 4,000 8,000

20 2,000 8,000

>20 0 8,000

Draw the demand and supply curves. What is unusual about this supply curve? Why might this be true? What are the equilibrium price and quantity of tickets?

View Complete Question

Solution Preview :

Prepared by a verified Expert

Microeconomics: Draw the demand and supply curves what is unusual about

Reference No:- TGS0658457

Now Priced at $10 (50% Discount)

Recommended (95%)

Rated (4.7/5)

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Microeconomics

Q : Briefly describe the

Briefly describe the dilemma. Briefly describe the dilemma.

Q : The ph at the half-neutralization point enter only numbers

The pH at the half-neutralization point. Enter only numbers in your answer. (Do not include units.) (d) The pH at the equivalence point.

Q : Calculate the ph at the points in the titration of 4000 ml

Calculate the pH at the points in the titration of 40.00 mL of 0.425 M NH3 for the reaction below. NH3(aq) + HNO3 ? NH4+(aq) + NO3?(aq) For NH3, Kb = 1.8x10-5. Enter your answer with 2 decimal places. Enter scientific notation as 1.23E4

Q : A monopolist knows that in order to expand the quantity of

A monopolist knows that in order to expand the quantity of output it produces from 8 to 9 units that it must lower the price of its output from $2 to $1. Calculate the quantity effect and the price effect

Q : Draw the demand and supply curves what is unusual about

Draw the demand and supply curves. What is unusual about this supply curve? Why might this be true? What are the equilibrium price and quantity of tickets?

Q : What type of externality positive or negative is present in

What type of externality (positive or negative) is present in each of the following examples? Is the marginal social benefit of the activity greater than or equal to the marginal benefit to the individual?

Q : Use standard enthalpies of formation to determine horxn for

Use standard enthalpies of formation to determine Horxn for: 3NO2(g) + H2O(l) ? 2HNO3(aq) + NO(g) Enter in kJ. -133.5 Find the change in internal energy for this reaction.

Q : A lottery claims its grand prize is 10 million payable over

A lottery claims its grand prize is $10 million, payable over 20 years at $500,000 per year. If the first payment is made immediately, what is this grand prize really worth? Use a discount rate of 6%.

Q : How many moles of naoh must be added to 0550 l of 0191 moll

How many moles of NaOH must be added to 0.550 L of 0.191 mol/L HC3H5O2(aq) to obtain a solution with pH=4.7? Assume the temperature is 25oC. (For HC3H5O2, pKa=4.89 at 25oC).

1951939

Questions
Asked

3,689

Active Tutors

1441235

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Solution Preview :

Prepared by a verified Expert

Microeconomics: Draw the demand and supply curves what is unusual about

Reference No:- TGS0658457

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

Q : Briefly describe the

Q : The ph at the half-neutralization point enter only numbers

Q : Calculate the ph at the points in the titration of 4000 ml

Q : A monopolist knows that in order to expand the quantity of

Q : Draw the demand and supply curves what is unusual about

Q : What type of externality positive or negative is present in

Q : Use standard enthalpies of formation to determine horxn for

Q : A lottery claims its grand prize is 10 million payable over

Q : How many moles of naoh must be added to 0550 l of 0191 moll

Symptoms of post-severe stress disorder

Discuss patient presents with painful genital ulcers

Problem related to bypassing the screening protocol

Client with a history of chronic kidney disease is admitted

Did the cst handle this incident correctly

Patient presents with acute renal colic pain

Nurse is providing a tour of the labor and birth unit

Solution Preview :

Prepared by a verified Expert

Microeconomics: Draw the demand and supply curves what is unusual about

Reference No:- TGS0658457

Recent Questions Asked Microeconomics

Q : Briefly describe the

Q : The ph at the half-neutralization point enter only numbers

Q : Calculate the ph at the points in the titration of 4000 ml

Q : A monopolist knows that in order to expand the quantity of

Q : Draw the demand and supply curves what is unusual about

Q : What type of externality positive or negative is present in

Q : Use standard enthalpies of formation to determine horxn for

Q : A lottery claims its grand prize is 10 million payable over

Q : How many moles of naoh must be added to 0550 l of 0191 moll

Asked Questions