Q1. Supply and demand for good are given as follows:
p = 1000 - 1.5Qd P= 60 + 2.5QS
Illustrate what is equilibrium quantity? Illustrate what is equilibrium cost?
Q2. If 1 additional server increases the number of meals sold by 4 per day and each meal sells for $10, each additional food server will be paid?
Q3. Inflation is not possible under the gold standard. Is this statement true, false, or uncertain? Explicate your answer.
Q4. One way insurance companies reduce adverse selection problems is by offering group medical coverage to large firms and requiring all employees to participate in the coverage. Explicate Explain how this reduces adverse section?