Economics Answers

How do offer curves define the equilibrium-relative commodity price at which trade takes place? 

What do offer curves show? How are they derived? What is their shape? What explains their shape? 

How is the equilibrium-relative commodity price with trade determined with demand and supply curves? 

How can the supply curve of exports and the demand curve of imports of a commodity be derived from the total demand and supply curves of a commodity in the two nations?

Market research has revealed the following information about the market for chocolate

bars: The demand schedule can be represented by the equation QD = 1,600 – 300P, where

QD is the quantity demanded and P is the price. The supply schedule can be represented by

the equation QS = 1,400 + 700P, where QS is the quantity supplied. Calculate the equilibrium

price and quantity in the market for chocolate bars.

1. which of the following options is positive Economics based upon?

a. ethics

b. value judgement

c. public opinion

d. facts

Who has written the Economic of Welfare?

Hotel rooms in Smalltown go for $100, and

1,000 rooms are rented on a typical day.

a. To raise revenue, the mayor decides to charge

hotels a tax of $10 per rented room. After

the tax is imposed, the going rate for hotel

rooms rises to $108, and the number of rooms

rented falls to 900. Calculate the amount of

revenue this tax raises for Smalltown and the

deadweight loss of the tax. (Hint: The area of

a triangle is 1⁄2 3 base 3 height.)

b. The mayor now doubles the tax to $20. The

price rises to $116, and the number of rooms

rented falls to 800. Calculate tax revenue

and deadweight loss with this larger tax. Do

they double, more than double, or less than

double? Explain.

If the price of a printer rise from $20 to $80 while all other influence on buying plans are unchanged the quantity of printers demanded_

Discuss the economic significance of land