Principles of Microeconomics Instructor: Sandhya Patlolla 1. The below table gives the demand and supply schedules for cat food. a) The equilibrium price will be _______________ b) The equilibrium quantity will be___________________ c) If the price is $3.00 per pound of cat food‚ will there be a shortage‚ a surplus? _________________ d) How much is the shortage or surplus equal to _____________________ e) Will the price stay at $3.00 for the long time? Why? f) If the price
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The Concept of Equilibrium and the Equilibrium Constant + What is equilibrium? A state of balance It can be static (like tug o war) It can be dynamic‚ like cars moving across a bridge‚ and like most of the reactions we will be studying + Chemical Equilibrium Occurs when opposing reactions are proceeding at equal rates Rate at which products form is equal to the rate at which reactants disappear Have the illusion that the reaction has stopped +At equilibrium‚ the concentrations
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bDATES PERFORMED: JANUARY 8‚ 2013 CHEMICAL EQUILIBRIUM D.M. TAN1 AND P.B. ALEGRO2 1DEPARTMENT OF MINING‚ METALLURGICAL‚ AND MATERIALS ENGINEERING‚ COLLEGE OF ENGINEERING 2 INSTITUTE OF CHEMISTRY‚ COLLEGE OF SCIENCE UNIVERSITY OF THE PHILIPPINES‚ DILIMAN QUEZON CITY‚ PHILIPPINES RECEIVED JANUARY 15‚ 2013 RESULTS AND DISCUSSION A. Iron- Silver Equilibrium The first part of the experimentation focuses in the iron-silver system. Silver nitrate (AgNO3) was added to ferrous
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Experiment 1: Study of Solubility Equilibrium Data Treatment and Analysis Section 1: Solubility Product Constant Temperature (˚C) | Volume of NaOH used (mL) | | | | Titration 1 | Titration 2 | Average | 28 | 12.7 | 12.8 | 12.75 | 9 | 10.5 | 10.5 | 10.5 | 19 | 11.3 | 11.2 | 11.25 | 40 | 16.2 | 16.2 | 16.2 | 50 | 22.8 | 22.9 | 22.85 | Table 1: The volume of NaOH used in the titration at various temperatures. No. of moles of KHC4H4O6 = 1.45 g ÷ 188.177g/mol = 7.71 x 10-3mol
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Long Run Equilibrium (A) Firm and Industry: A competitive market is made up of a large number of firms with complete freedom of entry. Such firms together are called competitive industry. An industry can be defined as a group of firms producing homogeneous products with freedom of entry and exit and which earn only normal profits. Hence the concept of an industry is applicable only under competitive conditions. There is no fixed size of an industry though the analytical stability of an industry
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ceiling create shortage. How to overcome it? According to the book “Economic Theory in the Malaysian Context”‚ the definition of price ceiling is a legally established maximum price a seller can charge. It means that the price is lower than the equilibrium market price and it cannot go above the ceiling price. The reason that government imposes ceiling price on item such as beef‚ flour‚ sugar and many more is because to ensure that consumers are able to buy these goods at a reasonable price thus prevent
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TITLE Vapour Liquid Equilibrium OBJECTIVE To find the Vapour-Liquid Equilibrium (VLE) relationship for binary mixture and to plot the equilibrium curve. INTRODUCTION The term equilibrium is referred to as when a system is in a static condition and there is absolutely no changes that occur as time goes by. Vapour-liquid equilibrium is a condition where a liquid and its vapor are in equilibrium with each other‚ a condition or state where the rate of evaporation is equal to the rate of condensation
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chemical equilibrium is already achieved. A reaction is said to be at equilibrium when the following conditions exist. 1. 2. 3. Several factors such as temperature‚ concentration and pressure affects the rate of reaction which can cause an effect in the chemical equilibrium. A general rule is used to predict the direction in which an equilibrium reaction will move which is called the Le Chatelier’s Principle. It states that if an external stress is applied to a system at equilibrium‚ the system
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Dakota Gravitt The Great Gatsby (2013) Movie Analysis “The Great Gatsby” movie‚ made in 2013 featuring Tobey Maguire‚ Leonardo DiCaprio‚ and Carey Mulligan‚ is a film based on a book by the same name written by F. Scott Fitzgerald. The film is about Nick Carraway (Tobey Maguire)‚ a bond salesman living in the 1920s‚ before the market crash‚ who moves near the shores of New York City over the summer and encounters his mysterious neighbor‚ Jay Gatsby (Leonardo DiCaprio). His rich neighbor would
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Analytical and Equilibrium Molrity Analytical Molarity is the total number of a solute‚ regardless of its chemical state‚ in one liter of solution • describes how a solution is prepared(recipe) 98.0 g H2SO4 dissolved in water diluted to 1.0 L. 1.0 M H2SO4 Equilibrium Molarity or species molarity is the molar concentration of a particular specie in the solution. • requires a careful analysis on how solutes behave when it is dissolved in solvents 1.0 M H2SO4 (AM) 0.0 M H2SO4
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