EBK INTERMEDIATE MICROECONOMICS AND ITS
12th Edition
ISBN: 9781305176386
Author: Snyder
Publisher: YUZU
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Chapter 14.3, Problem 1MQ
To determine
Relative price of
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How would the price equation apply to the purchase price of (a) gasoline, (b) an airline ticket, and (c) a checking account?
Suppose the demand for a certain item is given by D(p) = - 2p? - 4p + 500, where p represents the price of the item in dollars.
a. Find the rate of change of demand with respect to price
b. Find and interpret the rate of change of demand when the price is $8.
a. The rate of change of demand with respect to price is- (Simplify your answer.)
b. Choose the correct answer below and fill in any answer boxes in your choice.
O A. When the price is $8, demand is increasing at a rate of about items for each increase in price of $8.
O B. When the price is $8, demand is decreasing at a rate of about items for each increase in price of $8.
OC. When the price is $8, demand is decreasing at a rate of about items for each increase in price of $1.
O D. When the price is $8, demand is increasing at a rate of about items for each increase in price of $1.
Determine the effect of each of the following events on either the demand or supply of new houses, and thus their price . Indicate (i)whether demand for, or supply of , new houses will increase or decrease , and (ii) the effect of the change upon the price of houses. (Assume all other factors remain the same.)
a) The average incomes of Canadians rises after a period of stagnation.
b) Mortgage rates rises.
c) The cost of building materials rises.
d) The country experiences an increase in birth rate.
e) New restrictions an urban sprawl are introduced by government.
Chapter 14 Solutions
EBK INTERMEDIATE MICROECONOMICS AND ITS
Ch. 14.3 - Prob. 1MQCh. 14.3 - Prob. 2MQCh. 14.4 - Prob. 1MQCh. 14.4 - Prob. 1TTACh. 14.4 - Prob. 2TTACh. 14.5 - Prob. 1TTACh. 14.5 - Prob. 2TTACh. 14.5 - Prob. 1MQCh. 14.6 - Prob. 1TTACh. 14.6 - Prob. 2TTA
Ch. 14.6 - Prob. 1MQCh. 14.6 - Prob. 2MQCh. 14.6 - Prob. 1.1TTACh. 14.6 - Prob. 2.1TTACh. 14 - Prob. 1RQCh. 14 - Prob. 2RQCh. 14 - Prob. 3RQCh. 14 - Prob. 4RQCh. 14 - Prob. 5RQCh. 14 - Prob. 6RQCh. 14 - Prob. 7RQCh. 14 - Prob. 8RQCh. 14 - Prob. 9RQCh. 14 - Prob. 10RQCh. 14 - Prob. 14.1PCh. 14 - Prob. 14.2PCh. 14 - Prob. 14.3PCh. 14 - Prob. 14.4PCh. 14 - Prob. 14.5PCh. 14 - Prob. 14.6PCh. 14 - Prob. 14.7PCh. 14 - Prob. 14.8PCh. 14 - Prob. 14.9PCh. 14 - Prob. 14.10P
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