Question

(b) Given the following demand & supply functions for a product,

qd=4p^2-25p+300 , qs=3p^2-200

Determine the market equilibrium price & quantities?

Answer #2

answered by: anonymous

1. The market demand and supply was given as follow: Qd = 10 –
2P Qs = -5 + 3P
a) Compute for the Price equilibrium
b) Compute for the Quantity equilibrium
c) Plot/graph the following equation.
2. Given the equation, find the equilibrium price and quantity
of the following market and plot the equation. 13P – Qs = 27 Qd +
4P – 24 = 0

Consider the following supply and demand functions
qD = 12-3p
qS = -3 + 2p
a) Plot the supply and demand functions.
b) What are the equilibrium price and quantity?
c) At the equilibrium price and quantity, what is the price
elasticity of demand?
d) Interpret the price elasticity of demand. How much will
quantity change if the price increases by 1%?
e) Suppose I were to calculate an income elasticity of e = 0.5
What does this imply about...

The demand for a product is Qd=320-8p-2px and supply is
Qs=20+4p, where Q is the quantity for the product, in thousands of
units, P is the price of the product, and Px is the price of the
another good X
1) When Px =$30, what is the equilibrium price and quantity sold
for the product?
2) At the equilibrium price and quantity, what is the price
elasticity of demand for the product?

1. The demand for a slice of pizza in NYC is: Qd = 10
- 4P
The supply of a slice of pizza in NYC is: Qs = 3 +
3P
Refer to above information. If P = $2, is there a surplus or
shortage? What is the size of the surplus or shortage? (6
pts)
2. Consider the demand curve QD = 6 – 3P and the
supply curve QS = P + 5. What is the price elasticity...

1. Suppose the demand for village defense in Temeria is
Qd=300-2P, and the supply is Qs=4P.
a. Graph the supply and demand curves. (3 points)
b. Solve for the equilibrium price and quantity. Show this point
on your graph from part (a). (5 points)
c. How much consumer surplus is created in this market? How much
producer surplus? (4 points)
d. Suppose the King of Temeria puts a tax of 10 orens per unit
on village defense. Write an equation...

The demand and supply functions of a given competitive market
are provided as follows: Qd = 100 – 2P Qs = 70 + 3P You are
required to; (a) Find the equilibrium price and quantity sold. 7
marks (b) Assuming that the government of Ghana has imposed GH¢2.00
per unit tax on the good in the market. What will be the new
equilibrium price and quantity in the market? 11 marks

Use the following market demand and supply equations to answer
questions a and b:
1.Qd=200-4P and Qs=P+100
2.ATC=0.05*(Q-100)^2
a.)Assume this market is a competitive market calculate the
market's profit maximizing price, quantity, and profit. What will
happen to profit in the long-run? b.)Assume this market is a
monopolistically market calculate the market's profit maximizing
price, quantity, and profit. What will happen to profit in the
long-run?

The demand and supply of movie tickets are given by
QD = 30 – 3P and
QS = 4P – 19, where P is the
price per ticket and Q is in thousands of tickets. If the
government places a $1 tax on each ticket, the prices that
consumers pay with and without the tax are _____ and _____,
respectively.
Answer Choices Include:
$4.30; $3.80
$7.57; $7
$8; $7
$7.50; $6.80

Market Balance
A) The generalized offer function of a product is Qs =
20 + 3p - 4Pi + 5 F
Simplify the offer function in Pi = 20 and F = 60
If the simplified function of the demand of the
product is Qd = 300 - 3p; determine the price and the equilibrium
quantity of the product, using the function of the offer obtained
in part A.

Assume a demand function is given by Qd=40-2P+4Ps-2Pc+5Y and a
supply function is given by Qs=16+4P-6Pi, where Ps, Pc, and Pi are
the price of a substitute, complement, and input to production
respectively. How does a $1 increase in the price of a substitute
change the equilibrium price and the equilibrium quantity?

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