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The demand curve can be graphed using the expression Q = 100 - P and the supply curve can be graphed using the expression Q = 40 + 2P. Find the equilibrium price and quantity in this market.

The equilibrium price and quantity within a market for a good can be found at the intersection of the supply and demand curves. Therefore, we need to use a mathematical method to find the P and Q by equat...

TK
Answered by Tamara K. Economics tutor
2119 Views

Buyers in the market for iPhones learn that the price of the Samsung Galaxy has increased. Explain how this would shift demand in the market for iPhones.

iPhones and Samsung phones can be considered close substitutes, i.e. if the price of one increases, consumers may wish to switch to the cheaper alternative. This means the demand for the substitute will r...

TK
Answered by Tamara K. Economics tutor
2573 Views

Explain why the reactivity of the elements in group 1 increases as we go down the periodic table?

The reactivity of group 1 metals increases as we go down the periodic table because as we go down the group the electrons are further away from the nulceus as the number of shells increase and therefore t...

SK
Answered by SUNIYA K. Chemistry tutor
18573 Views

How should I write a letter in Spanish?

As with writing a letter in English, it is important to adopt the correct register and tone for the person you are writing to.

To open your letter, use one of the following options, picking the bes...

CS
Answered by Catherine S. Spanish tutor
6980 Views

Explain how Hitler rose to power.

Hitler rose to power for a variety of reasons. Firstly, he was a charismatic leader and a great orator. He appealed to the German people following WW1. However, his rise to power was only enabled by event...

AN
Answered by Andrew N. History tutor
2054 Views

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