Assignment 2

Assignment 2 Office building guardianship plans previse for the stripping, waxing, and buffing of ceramic root tiles. This work is contracted fall out to single-valued function maintenance firms, and both technology and labor requirements are truly basic. provide and demand conditions in this perfectly competitive help commercialise in New York are: QS = 2P - 20(Supply) QD = 80 - 2P(Demand) - where Q is thousands of hours of root word reconditioning per month, and P is the legal injury per hour. A.Algebraically determine the mart smack of counterpoise price/output combination. get along: Market remainder price is the price that actually exists in the merchandise 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 atomic number 6 -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 balance Quantity = QD = QS = 30 B.Use a g! raph to fend for your answer. Answer: Graph included as separate document For the graph, recitation 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 on a lower floor which the firm testament 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, modulate it on our website: OrderEssay.net

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