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Suppose that the price of basketball tickets at your

Principles of Microeconomics | 7th Edition | ISBN: 9781285165905 | Authors: N Gregory Mankiw ISBN: 9781285165905 94

Solution for problem 11 Chapter 4

Principles of Microeconomics | 7th Edition

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Principles of Microeconomics | 7th Edition | ISBN: 9781285165905 | Authors: N Gregory Mankiw

Principles of Microeconomics | 7th Edition

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Problem 11

Suppose that the price of basketball tickets at your college is determined by market forces. Currently, the demand and supply schedules are as follows: Price Quantity Demanded Quantity Supplied $4 10,000 tickets 8,000 tickets 8 8,000 8,000 12 6,000 8,000 16 4,000 8,000 20 2,000 8,000 a. Draw the demand and supply curves. What is unusual about this supply curve? Why might this be true?b.What are the equilibrium price and quantity of tickets?c.Your college plans to increase total enrollment next year by 5,000 students. The additional students will have the following demand schedule: Price Quantity Demanded $4 4,000 tickets 8 3,000 12 2,000 16 1,000 20 0 Now add the old demand schedule and the demand schedule for the new students to calculate the new demand schedule for the entire college. What will be the new equilibrium price and quantity?

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VERSION 1 TEST 1 : PORTFOLIO MANAGEMENT NOM : PRENOM : 40 multiple choice questions with only one good answer for three propositions. A right answer is valued 1 points, a wrong answer counts for 0 point and no answer gives 0 point. REPONDRE SUR CETTE FEUILLE (ENTOURER LAREPONSE) Question 1 The risk tolerance of an investor is ascertained through: A) a survey questionnaire. B) portfolio risk analysis. C) investor's return objective. A) Investment advisers normally use psychometric questionnaires to determine an investor's willingness to assume risk. Question 2 In a rapidly rising market, a stock with a beta of 0.5 is expected, relative to the market performance, to: Performance Direction A. Outperform

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Chapter 4, Problem 11 is Solved
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Textbook: Principles of Microeconomics
Edition: 7
Author: N Gregory Mankiw
ISBN: 9781285165905

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Suppose that the price of basketball tickets at your