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Explain the term ‘opportunity cost’.

What is econometrics

**24. **The demand curve and supply curve for one-year discount

bonds with a face value of $1,000 are represented by the

following equations:

*Bd *: Price = -0.8 * Quantity + 1100

*Bs *: Price = Quantity + 680

**a. **What is the expected equilibrium price and quantity

of bonds in this market?

**b. **Given your answer to part (a), what is the expected

interest rate in this market?

A firm's production function is described by the following equation 𝑸=𝟏𝟎,𝟎𝟎𝟎𝑳−𝟑𝑳 𝟐 where L stands for the labor units. (20 points).

a) Draw a graph for this equation. Use the quantity produced on the y-axis and the labor units on the x-axis.

b) What is the maximum production level?

c) How many units of labor are needed at that point?

The mathematical functions of ** supply** and

The **Supply** function is: **Qs = 2100 + 344P;**

The **Demand** function is: **Qd = 3660 – 324P**;

The **Equilibrium Price** is **P**.

a) Determine the **Equilibrium Price**, **P**.

b) Mathematically determine the equilibrium **Supply** and **Demand volume** for broilers in this market. Show all calculations.

how to do opportunity cost

Explain causes of monopoly

Find equilibrium price and quantity if;

P:8+1/3Qs

P:44-1/5Qd