The domestic demand and supply for sugar are Qd = 40,000 ? 200P and QSD = 10,000 + 300P. The foreign supply is QSF = 20,000 + 100P. What is the domestic market price of sugar?
A. 18.3
B. 15.0
C. 12.3
D. 16.7
Answer: D
You might also like to view...
All else equal, when oil prices increase, oil exploration processes like horizontal drilling become more advantageous for oil companies, and this will ________ proven reserves of oil and ________ the number of years it will take to deplete the stock
of oil. A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
An individual has an absolute advantage in producing pizzas if that individual:
A. can produce more pizzas in a given amount of time than anyone else. B. has a lower opportunity cost of producing pizzas than anyone else. C. has a higher opportunity cost of producing pizzas than anyone else. D. charges the lowest price for pizzas.
A firm pays Pam $40 per hour to assemble personal computers. Each day, Pam can assemble 4 computers if she works 1 hour, 7 computers if she works 2 hours, 9 computers if she works 3 hours, and 10 computers if she works 4 hours. Pam cannot work more than 4 hours day. Each computer consists of a motherboard, a hard drive, a case, a monitor, a keyboard, and a mouse. The total cost of these parts is $600 per computer. What is the marginal cost of producing the computers that Pam can assemble during her 2nd hour of work?
A. $4,200 B. $4,280 C. $1,800 D. $1,840
Which of the following causes of unemployment is not associated with a wage rate above the market equilibrium level?
a. efficiency wages
b. job search
c. minimum-wage laws
d. unions