Microeconomics

Give a brief overview of how education attainment and elementary and s

Give a brief overview of how education attainment and elementary and secondary education spending has changed in the United States since 1940 . What will be an ideal response?   ANSWER The percentage of U.S. adults with a high school diploma has changed dramatically since 1940 . In 1940, 24.1 percent of adults had a […]

Read full post

Date: September 9th, 2020

Suppose the market for a good is expressed as follows: Inverse demand

Suppose the market for a good is expressed as follows: Inverse demand: P = 200 – 2Q Inverse supply: P = 2Q What is the equilibrium if the government imposes a supply quota of 75 units? What is the equilibrium if the government imposes a supply quota of 25 units?   ANSWER The market equilibrium […]

Read full post

Date: September 9th, 2020