EBK MICROECONOMICS
EBK MICROECONOMICS
5th Edition
ISBN: 9781118883228
Author: David
Publisher: YUZU
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SOLVE STEP BY STEP DONT USE CHATGPT In a market, a supply and demand table is presented for a product. Assume that your relationship is linear Price in dollars (P) 300 350 400 450 Quantity (Q) Weekly Offered (O) 1000 2000 3000 4000 Quantity (Q) Weekly Respondent (D) 3000 2500 2000 1000 Find the linear supply and demand functions for this product Find the market equilibrium point
Yverrry is earning $200,000 per year as medical sales representafive. Due to the covid pandemic, she decided to open a small restaurantin the City where she lives. She invested $200,000 of his savings that has been eaming $5,000 interest per year. Since there was vacant space in the area where she lives, she decided to use this lot to put up his restaurant. The lot has been earning $10,000.00 annually as it is beingrented as a parking space for the executives in the nearby Firm. She hired one (1) clerk and 3 helpers who will help him in the restaurant. Water and electricity bills for the year reached $50,000.00. Yverry will be paying the clerk $3,000.00 while the 3 helpers $2,500.00 each monthly. Affer a year of operation, Yverry was able to earn a sales revenue of $800,000.00 Required: Compute for the Yverry's accounting and economic profit.
A manufacturer produces bolts of a fabric with a fixed width. The quantityqof this fabric(measured in yards) that is sold is a function of the selling pricep(in dollars per yard), sowe can writeq=f(p). Then the total revenue earned with selling pricepisR(p)=pf(p).

Chapter 7 Solutions

EBK MICROECONOMICS

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