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III. Given: Demand Equation P 7000-ZQ Supply Equation P=0.01Q +20 + 1000 Solve the equilibrium price and quantity. (algebra) IV. Given: Y=C+I+G C= 200
III. Given: Demand Equation P 7000-ZQ Supply Equation P=0.01Q +20 + 1000 Solve the equilibrium price and quantity. (algebra) IV. Given: Y=C+I+G C= 200 +0.25 (Y-T) 1=15+0.25Y-1000i G=250 T=200 Md=Ms Md=2Y-8000i Ms=1600 Identify the endogenous variables. Solve for the equilibrium levels of the endogenous variables (ordinary algebra). Answers are in figures. V. Given Y=C+I+G C= a + bx 1=c+gx=8B (1-Investment, R-interest rate) Note Cis Consumption, c is a parameter Restrictions: a>00 0,0
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Intermediate Microeconomics
Authors: Hal R. Varian
9th edition
978-0393123975, 393123979, 393123960, 978-0393919677, 393919676, 978-0393123968
