Question

Samsung will produce 750 cell phones per month if the price is $60. If the price is $80 they will

produce 2250 cell phones.

Non iPhone customers will demand 250 cell phones per month when the price is $140. At $110 they

will demand 1,000 phones per month.

Find the Equilibrium Quantity and Equilibrium Price.

Answer #1

Assuming linear relationship between quantity and price.

Z-Tech mistakenly produced 10,000 defective cell phones. The
phones cost $60 each to produce. A salvage company will buy the
defective phones as they are for $30 each. It would cost Z-Tech $80
per phone to rework the phones. If the phones are reworked, Z-Tech
could sell them for $125 each. Compute the incremental net profit
from reworking the phones. (Omit the "$" sign in your
response.)
Incremental net profit
$

Consider a market for cell phones. The demand and supply are
defined by P = 400 -10 q, and P = 100 + 2q
Suppose now that the government requires each seller to pay a 60
tax for each cell phone. Compute the change in consumer surplus,
change in producer surplus, the tax revenue, and the deadweight
loss in the new equilibrium.
Suppose now that the government does not tax the seller, but
instead the buyer to pay a $60...

Now consider the demand curve for smart phones. Suppose
consumers begin expecting that the price of smart phone will
increase significantly in the upcoming months. What would happen to
the demand curve for smart phones today?
What happens to the supply curve for a product if the cost of
inputs required to produce that product increases? (Example:
Suppose political unrest in the middle east causes the price of oil
to increase. Oil is used to produce plastic, which in turn...

Call-Si Corp. currently has two products, high priced cell
phones and apps for its cell phones. Call-Si Corp. has decided to
sell a new line of low-priced cell phones. Sales revenues for the
new line of cell phones are estimated at $2,000 a year and variable
costs are $1,200 a year. The project is expected to last 10 years.
Also, non-variable costs are $600 per year. The company has spent
$100 in a research and a development study that determined...

Call-Si Corp. currently has two products, high priced cell
phones and apps for its cell phones. Call-Si Corp. has decided to
sell a new line of low-priced cell phones. Sales revenues for the
new line of cell phones are estimated at $2,000 a year and variable
costs are $1,200 a year. The project is expected to last 10 years.
Also, non-variable costs are $600 per year. The company has spent
$100 in a research and a development study that determined...

The demand equation for a certain cell phone is given by
? = −.001?2 + 250
where p is the price of per phone (in dollars) and q is the
number of phones that can be sold at this price. The supply
function is given by
? = 0.0006?2 + 0.02? + 100
dollars per camera.
Find the equilibrium price and use it calculate the producers and
at the equilibrium price level.
?? = ?̅?̅ − ∫ ?(?)??

Q3) Assume that the manufacturing of cellular phones is a
perfectly competitive industry. The market demand for cellular
phones is described by a linear demand function:
QD=(6000-50P)/9. There are 50 manufacturers of cellular
phones. Each manufacturer has the same production costs. These are
described by long-run total cost functions of TC(q) = 100
+ q2 + 10q.
1) Show that a firm in this industry maximizes profit by
producing q = (P-10)/2
2)Derive the industry supply curve and show that...

2. A market for agriculture produce can be described by two
linear equations. Demand is given by P = 170− (1/6)Q, and supply is
given by P = 50+(1/3)Q, where Q is the quantity and P is the
price.
a) Graph the functions and find the equilibrium price and
quantity.
b) Now the government implements a supporting price of $140.
Calculate the surplus (excess supply), the consumer surplus and
producer surplus.
c) Suppose the government instead chose to maintain a...

Microeconomics question: Copayment is $20, market equillibrium
is 5 million visits per month at $80 per visit.Under a copayment
plan, the quantity of visits demanded by consumers is
___ million visits per month. Doctors are willing
to supply this number of office visits at a price of
$___ per visit. Therefore the government will pay
$___ per visit under the copayment scheme.
Quantity of vists per month
(in millions)
Dollars per visit
0
0
1
20
2
40
3
60...

question 3 The following table describes the market for
waffles.
Price
Quantity Demanded
Quantity Supplied
$1
110
20
$2
90
60
$3
70
100
$4
50
140
Use the information in the table to find the equilibrium price
and quantity in this market For price please enter your answer as a
numerical response rounded to the nearest cent (ie. 5.00 or $5.50
not 5 or "Five dollars"). For quantity please
enter your answer as a whole number (ie. 60 not...

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