--%>
Assignment Help - homework help

Describe the equilibrium price and equilibrium quantity

Assume the total demand for wheat and the net supply of wheat per month in the Kansas City grain market are as:

16_Table for wheat.png

Describe the equilibrium price? Explain the equilibrium quantity?  Fill in the surplus-shortage column and employ it to depict why your answers are correct.

E

Expert

Verified

Pe = $4.00; Qe = 75,000.  Equilibrium takes place where there is neither a shortage nor surplus of wheat. At the instantly lower price of $3.70, there is a shortage of 7,000 bushels. At the instantly higher price of $4.30, there is a surplus of 7,000 bushels. 

   Related Questions in Finance Basics

  • Q : How long do business cycles remain

    Normal 0 false false

  • Q : Three examples of mutually exclusive

    Provide three examples of mutually exclusive projects. Mutually exclusive projects are projects which compete against each other for our selection. If firm were considering the purchase of new computer, requiring only one computer, then the pro

    		•
  • Q : Shares Assignment Mina Patel has seen

    Assignment Mina Patel has seen attractive advertisements for Dixons Retail plc and its UK-based brands. She is also aware of the intense competition between retailers of electronic and electrical goods, at a time of global economic uncertainty. Mina has recently inherited several thousand pound

    		•
  • Q : Sizes of the MPC and MPS Normal 0 false

    Normal 0 false false

    		•
  • Q : Present value influenced by change in

    Normal 0 false false

  • Q : Primary requirement for JIT inventory

    Describe the primary requirements for a successful JIT inventory control system? For a JIT system to be successful the supplier has to be willing and capable to deliver materials immediately and the quality of delivered materials has to be high.

    		•
  • Q : Explain State-Mandated Local Program

    State-Mandated Local Program: The state compensations to local governments for the cost of activities needed by legislative and executive acts. This reimbursement necessity was established, Statutes of 1972 (SB 90) and further approved by the adoption

    		•
  • Q : Describe why measure projects risk as

    Describe why we measure a project's risk as the change in the CV.We measure a project's risk since the change in the coefficient of variation since this focuses on the change in the riskiness of the firm's existing portfolio.

    		•
  • Q : How societys interests can affect

    Normal 0 false false

    		•
  • Q : Define Trigger Trigger : An event which

    Trigger: An event which causes an action or actions. The triggers can be active (like pressing the update key to validate input to a database) or passive (like a tickler file to repeat of an activity). For illustration, budget "trigger" mechanisms hav

    		•