Economics Questions from Feb 16,2025

Browse the Economics Q&A Archive for Feb 16,2025, featuring a collection of homework questions and answers from this day. Find detailed solutions to enhance your understanding.

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Many people would like to own a new car, but new cars are not always a good investment. A new car is estimated to lose 15 to \( 20 \% \) of its original value during the first year after buying it. Imagine that you bought a new car for \( \$ 36,000 \). What is a reasonable estimate for what the car would be worth after one year? Show your calculation for this part. Now write 1-2 sentences that clearly explain how you made your estimation. The writing rubric will be used in grading this question. Also circle the correct answer. Suppose demand is given by the equation \( Q=42-4 P \), and supply is given by the equation \( Q=3 P-4 \). What is the equilibrium quantity in this market? If your answer is a fraction, round to two decimal places. Question 19 8 pts Suppose demand is given by \( P=24-Q \) and supply is given by \( P=3+(0.5) Q \). The government imposes a price ceiling of \( \$ 8 \) in this market. At the original equilibrium (before implementing the price ceiling), what was the value of economic surplus? \( \square \) After the price celiing is implemented, what is the value of consumer surplus? (Just type the number; do not include a dollar sizn.) \( \square \) After the price celling is implemented, what is the size of the deadweight loss? (Just type the number; do not include a dollar sign.) \( \square \) After the price celing is implemented, what is the size of the shortage in the market? (Just type the number; do not include any text or units.) \( \square \) NittanyLand can produce either 99 footballs or 11 basketballs per day. What is NittanyLand's opportunity cost of producing one basketball? your answer is a fraction, round to two decimal places. Your answer will be in number of footballs. \begin{tabular}{l} NittanyLand can produce either 92 footballs or 34 basketballs per day. What is NittanyLand's opportunity cost of producing one football? \\ your answer is a fraction, round to two decimal places. Your answer will be in number of basketballs. \\ \hline 1\end{tabular} Calculate the producer surplus (in dollars) at the unit price \( \bar{p}=18 \) for the supply equation \( p=10+2 q \). (Round your answer to the nearest cent.) dollars An online college estimates that \( q \) students (demand) will attend when the tuition is \( p=12200-0.5 q \) dollars per student. The same number of students will be enrolled (supply) when tuition is \( p=11000+2 q \) dollars per student. a. Find the equilibrium tuition price \( \bar{p} \). b. Find the consumer surplus at that equilibrium tuition price. c. Find the producer surplus at that equilibrium tuition price. d. Find the total gain at that equilibrium price. dollars dollars Calculate the producer surplus (in dollars) at the unit price \( \bar{p}=20 \) for the supply equation \( p=8+3 q^{\frac{1}{2}} \). (Round your answer to the nearest cent.) Calculate the consumer surplus (in dollars) at the unit price \( \bar{p}=90 \) for the demand equation \( p=670 e^{-4 q} \). (Round your answer to the nearest cent.) Es una cuenta de activo que disminuye cuando a la empresa le liquidan un documento a su favor Seleccione una: a. Acreedores Diversos b. Clientes d. Documentos por pagar d. Documentos por cobrar
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