Homework-economics
chapter 8:
8-1 Widget Market
The widget market is competitive and includes no transaction costs. Five suppliers are willing to sell one widget at the following prices: $30, $29, $20, $16, and $12. Five buyers are willing to buy one widget at the fol- lowing prices: $10, $12, $20, $24, and $29. What is the equilibrium price and quantity in a competitive market?
8-3 Hand Sanitizer
Due to the H1N1 flu outbreak, the demand for hand sanitizer has tripled. Should Johnson & Johnson increase production of their Purell hand sanitizer? Should it invest in doubling production capacity?
Note:
1-you should use the book to answer all these questions (you should not use any additional sources) , I will give you the link of the book.
2-you should not cheating from internet or other sources.
3-Academic writing
