19. Evaluate the effect of the following on the AD curve, AS curve, equilibrium price level and equilibrium output in the U.S.
(a) The U.S. imposes tariffs on foreign goods to promote domestic industry. In retaliation, foreign countries impose tariffs on U.S. goods.

(b) Congress decides to decrease personal income taxes, and to compensate for the lost revenue they decrease business subsidies.

(c) A technology boom improves technology across industries, improving their productivity.

(d) U.S. oil companies discover new large oil reserves in the U.S. The international price of oil falls
(e) Consumers expect a recession

Supply.........Demand......Quantity..........Price
(use left, right, or NC for No Change for supply and demand) (use up , down, or indeterminate for quantity and price)

Here are the reasons for the shifts in supply and demand. Note that once you know the changes in the curve, equilibrium price and quantity is taken from the intersection of the new supply or demand curves. Because the supply curve slopes upward and the demand curve slopes downward, their shifts affect the ...

Solution Summary

shifts in supply and demand and effects on AD + AS Curves

Graphically, competitive market supply is measured by the
vertical difference of competitor demandcurves.
vertical sum of competitor demandcurves.
horizontal difference of competitor MC curves
horizontal sum of competitor MC curves.

I need to find the orthogonal trajectories of the family of curves, y = 1/(x+c) where k is an arbitrary constant.
So far, I had figured on c = (1/y) - x
m1 = -1/(x^2 + (1/y) - x)
m2 = x^2 + (1/y) - x
I don't know how to figure beyond that. Probably because those were calculated wrong. Please show me how it's done. Tha

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

Suppose the demandand supply curves for eggs for the United States are given by the following equations:
Qd= 100 - 20P
Qs= 10 + 40P
Where Qd = millions of dozens of eggs Americans would like to buy each year; Qs = millions of dozen of eggs U.S. fa

How many curves does t have and what are they related to about the t-distribution?
Is there a restriction on the sample size when s can be used instead of sigma in the statement below?
The standard deviations s1 and s2 can be used when Ó1 and Ó2 are unknown and you believe that the underlying distribution is normal. Th

10. The consumer's utility function is U=4 square root of X1 + X2. This means that the MRS at the bundle (x1, x2) is 2/square root of X1. Show that the individual's indifference curves have the diminishing MRS property.

The file with the problem is attached.
Graph the AFC, ATC, AVC, and MC curves for the given fixed and variable costs.
Explain the relationship between the MC curve and the two average cost curves.