refer to John\'s demand curve drawn here: Write the equation for John\'s demand
ID: 1215307 • Letter: R
Question
refer to John's demand curve drawn here: Write the equation for John's demand curve with P as the dependent variable: P Write the equation for John's demand curve with Q as the dependent variable: When the price equals S 5.00 John will demand quantity John will demand a quantity of 4 when the Price What is the elasticity of demand for John At what price will John leave the market (demand Q = 0)? Here b information on production far a firm. Use this to answer The list on the right shows how much corn each man adds to the output of com a farm can produce using various different amounts of labour and one acre of land. This firm can sdl the corn for $ 30 per bushel. They pay $ 10 for the one acre of land. The wage is $ 60 per worker. If this firm hires 3 workers, it will have a TOTAL PRODUCT If this firm hires 3 workers, it will have TOTAL REVENUE How many workers should they hire to maximize profits? If this firm docs hire the number of workers you answered for question (I), If all the workers have the same level of skill, why does the 2nd worker have a LARGER marginal product than the 1st worker ? John buys more shoes than Al; this means John's demand will be: (A) more than Al's (B) less elastic than Al's (C) equally classic to Al's (D)therein way to say unless you have more information If Sam's' income RISES, his expenditures on INFERIOR goods willExplanation / Answer
Q1.
Ans
P = 10 -0.5Q
10 = intercept
-0.5= slope of line.
Q2
Ans:
Q = 20-P
Q3)
Q = 20 - 5
= 15
Q4)
4 = 20 - P
P = 16
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