Answer:
(a)
The equilibrium price is $75 per club
The equilibrium quantity is 75000 clubs
(b)
A charge a price of $50 per club. This would result in a surplus of 25000 clubs
Explanation:
Given
--- The demand function
--- The supply function
Solving (a): The equilibrium price and quantity
To do this, we equate both functions
This gives:
Collect like terms
Make P the subject
---The equilibrium price
Substitute 75 for P in
---- The equilibrium quantity
Solving (c): When the price is changed to $50
This means that: 
The quantity demanded will be:
Subtract the equilibrium quantity from to get the shortage/surplus
<em>Since the change is positive, then there is a surplus.</em>
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Answer:
This is a correct equation for Brand X tire demand.
Explanation:
We can be sure that this is an accurate equation for demand by cheking if the slope is negative as the demand decrease when the price increase
Q= 800 - 5P
dQ/dP = -5
the slope is negative the quantity decreases as price increases so this is a demand equation.
Part A:
The number of outcomes that each of them will have to choose anyone at random is calculated below.
n = 3 x 3 = 9
This is because, Al will have 3 choices and similarly, Bill will also have three choices. These outcomes are as written below.
S = (1,1), (1,2), (1,3), (2, 1), (2,2), (2, 3), (3, 1), (3, 2), and (3,3)
Part B: To make the same choice, there will only be three outcomes. These are:
S = (1, 1), (2, 2) and (3, 3)
Part C: If neither of them will vote for 2, there will only be four outcomes. This is because each of them will only have two choices. These are:
S = (1, 1), (1, 3), (3, 1), and (3,3)
Answer: a cash deposit into
banking system on the money supply<span>
</span><span>
<span>The
money multiplier refers to the ratio of deposits to the reserves in a certain
banking system. The money multiplier formula is caused by a cash deposit in a
bank on the money supply.</span></span>
Answer: Radial Autos should pursue Backward Integration.
Explanation: Backward integration is the process in which a company purchases or internally produces segments of its own supply chain. Simply put, it is when a company acquires and controls certain inputs that could be utilized in the process of manufacturing its products or services.
This is a competitive strategy, because it lowers the cost of production and this will reflect in the price of the final product.
This is the strategy that Radial Autos should pursue in order to lower cost and reduce risk in interruption of the supply component, because in adopting this strategy, they will have total control over the inputs they use in production.
