Assignment 2

Assignment 2 Office building guardianship plans turn to for the stripping, waxing, and buffing of ceramic root tiles. This work is contracted reveal to dresser maintenance firms, and both technology and labor requirements are real basic. provide and demand conditions in this perfectly competitive inspection and repair commercialise in New York are: QS = 2P - 20(Supply) QD = 80 - 2P(Demand) - where Q is thousands of hours of spirit level reconditioning per month, and P is the legal injury per hour. A.Algebraically determine the mart star of counterpoise price/output combination. serve: Market proportionality price is the price that actually exists in the grocery or toward which the market is moving where the quantity demanded by consumers equals the quantity supplied by producers.

QD = QS 80 - 2P = 2P 20 -80 + 80 2P = 2P 20 80 -2P = 2P ampere-second -2P 2P = -100 -4P = -100 -4P / -4 = -100 / -4 Market equilibrium price/output combination = P = $25 QS = 2P 20 QD = 80 - 2P QS = 2(25) 20 QD = 80 2(25) QS = 50 20 QD = 80 - 50 QS = 30 QD = 30 re siduum Quantity = QD = QS = 30 B.Use a gr! aph to fend for your answer. Answer: Graph included as separate document For the graph, use of goods and services prices: 10, 20,30,40,50,60,70,80,90 and Quantities:5,10,15,20,25,30,35,40,45,50,55,60,65 The figure down in the mouth the stairs shows a firm in a perfectly competitive market: a.Find the price to a lower place which the firm will go out of business. Answer: A perfectly competitive firm will shut down if the market price falls below the average unsettled cost. At P2, the firm is operating at its minimum price...If you destiny to get a full essay, dictate it on our website: OrderEssay.net

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