Real GDP demanded Price level Real GDP supplied
100 300 450
200 250 400
300 200 300
400 150 200
500 100 100

a. use the above data to graph aggregate demand aggregate supply curves. What is the equilibrium price level and the equilibrium level of real output in this hypothetical economy? Is the equilibrium real output also necessarily the full- employment real output?

b. If the price level in this economy is 150, will quantity demand equal, exceed, or fall short
of quantity supplied? By what amount? If the price level is 250, will quantity demand equal, exceed, or fall short of quantity supplied? By what amount?

c.. Suppose that buyers desire to purchase $200 billion of extra real output at each price level. Sketch in the new aggregate demand curve as AD1. What is the new equilibrium price level and level of real output?

3. a)
See the attached file. The equilibrium price level is 200 and the equilibrium ...

Solution Summary

This solution shows how to graph the Aggregate Demand and Aggregate Supply curves from AD and AS schedules. It also shows how to interpret the graph and determine the new equilibrium of the economy after an increase in AD.

I do not understand how to conduct these equations I Excel so that I can show a graph of each. Choose a second-order/third-order (e.g., x2/x3) and a third-order/second-order (e.g., x3/x2) rational function. Provide a graph for the second-order rational function (e.g., x2), choosing x values in the range from -10 through +10.

In some state Medicaid programs, the coinsurance rate for prescription drugs is 0 (recipients have no out-of-pocket expenses for prescription drugs). Assume the inverse demand for the number of prescriptions filled per month without insurance is P=45-5Q. Graph the demand curve with and without insurance.
Over the past 15 y

1. Give an example of a linear function and show at least one method of graphing it. By looking at the graph of a line, how can you tell if its slope is negative? What kind of line has a slope of zero and why?
2. Give an example of quadratic function and show at least one method of graphing it

Cost Data
Consider the following cost functions:
TC = 20 + 4Q
TC = 20 + 2Q + 0.5Q2
TC = 20 + 4Q - 0.1Q2
Using Excel, calculate all cost curves using a range of quantity from 0 to 15.
Total cost
Total fixed Cost
Total variable cost
Average total cost
Average fixed cost
Average variable cost
Marginal cost

Solve the following system of linear inequalities by graphing.
3x+4y is less than or equal to 12
x+3y is less than or equal to 6
x is greater than or equal to 0
y is greater than or equal to 0