Question
Managerial economic question, Q = 180P - 20 Q = -190P + 405 Based on the information provided, answer the following questions: a) Explain the
Managerial economic question,
Q = 180P - 20
Q = -190P + 405
Based on the information provided, answer the following questions:
a) Explain the economic meaning of the negative (minus) sign in the Q
Draw demand curve
b) Calculate the equilibrium price in RM per kilos
c) Calculate the equilibrium volume in million kilos surplus
d) Calculate the equilibrium in Malaysia when government intervence the price of RM3.50.
Draw demand curve show shortage or surplus. ceiling or floor price?
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The Worldly Philosophers The Lives, Times And Ideas Of The Great Economic Thinkers
Authors: Robert L Heilbroner
7th Edition
068486214X, 9780684862149
