Saved The table below depicts the relationship between the price level and aggregate demand and aggregate supply. Aggregate Demand and Aggregate Supply Short-Run Long-Run Aggregate Price Level Demand (in Aggregate Aggregate millions) Supply (in Supply (in millions) millions) 90 $500 $50 $200 95 400 100 200 100 300 150 200 105 200 200 200 110 100 250 200 What is the market equilibrium? Multiple Choice a price level of 100 and real GDP of $200 million a price level of 90 and real GDP of $500 million a price level of 200 and real GDP of $105 million a price level of 105 and real GDP of $200 million MacBook Pro

Nominal income refers to an income value that is not adjusted for inflation. Real income adjusts the nominal value for the rate of inflation. Real income per capita is considered a good measure of the buying power of an individual in a particular area because it adjusts for both the number of people in the area and the relative inflation of the area. According to Forbes magazine, the state with the highest annual real income per capita in 2020 is Connecticut with a real per capita income of $68,533. Suppose that the annual real income of individuals in Connecticut follows a normal distribution with a mean of $68,533 and standard deviation of $23,480.   (a) What is the probability that an individual in Connecticut has an annual real income of $54,000 or more? (Round your answer to four decimal places.) (b)  What is the probability that an individual in Connecticut has an annual real income of $29,000 or less? (Round your answer to four decimal places.)   (c)  What is the probability…

The following table shows worldwide sales of a certain type of cell phone and their average selling prices in 2013 and 2017. Year  2013 2017 Selling Price ($) 335 225 Sales (millions) 1,010 2,110   1. Use your demand equation to predict sales to the nearest million phones if the price is raised to $385.   2. Fill in the blank. For every $1 increase in price, sales of this type of cell phone decrease by _____________ million units.

Paula Shoemaker produces a weekly stock market report for an exclusive readership. She normally sells 3,000 reports per week, and 70% of the time her sales range from 2,900 to 3,100. The report costs Paula $15 to produce, but Paula is able to sell reports for $350 each. Of course, any reports not sold by the end of the week have no value. How many reports should Paula produce each week? use inventory model for this study