Assignment 2

Assignment 2 Office building guardianship plans rallying cry for the stripping, waxing, and buffing of ceramic root tiles. This work is contracted out to stead maintenance firms, and both technology and labor requirements are genuinely basic. provide and demand conditions in this perfectly competitive dish commercialise in New York are: QS = 2P - 20(Supply) QD = 80 - 2P(Demand) - where Q is thousands of hours of shock reconditioning per month, and P is the legal injury per hour. A.Algebraically determine the mart spirit of counterpoise price/output combination. fare: Market symmetry price is the price that actually exists in the commercialize or toward which the market is moving where the quantity demanded by consumers equals the quantity supplied by producers. QD = QS 80 - 2P = 2P 20 -80 + 80 2P = 2P 20 80 -2P = 2P blow -2P 2P = -100 -4P = -100 -4P / -4 = -100 / -4 Market equilibrium price/output combination = P = $25 QS = 2P 20 QD = 80 - 2P QS = 2(25) 20 QD = 80 2(25) QS = 50 20 QD = 80 - 50 QS = 30 QD = 30 counterbalance Quantity = QD = QS = 30 B.Use a graph to fend for your answer. Answer: Graph included as separate document For the graph, vocation prices: 10, 20,30,40,50,60,70,80,90 and Quantities:5,10,15,20,25,30,35,40,45,50,55,60,65 The figure down in the mouth the stairs shows a firm in a perfectly competitive market: a.Find the pric! e below which the firm testament go out of business. Answer: A perfectly competitive firm will shut down if the market price falls below the average unsettled cost. At P2, the firm is operating at its minimum price...If you destiny to get a full essay, assemble it on our website: OrderEssay.net

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