1/ The data regarding the demand market of in tons (X) and the price of the kilo of flour presetas (Y) in the decade of the 90 were: Q: 112 104 96 88 80 72 64 56 48 40 32 P: 1 2 3 4 5 6 7 8 9 10 11 a/ from the table above find out the function of demand Q=aP+B (using the Linear regression line using the method of least square). What is the meaning of slope (a) and intercept (b) b/ if the price is 6.5. estimating the four price based on linear regression. c/ assume that the supply function as follow Qs= -6+4P. Solve algebraically to find equillibrium point. d/ from the question c. if the price of market is 2. What happen with the market (surplus or deficit, In the future, the price decrease or increase) el calculating consumer surplus (CS) & producer surplus (PS) f/ from the questiom c. if the income of buyer increased it would lead to the demand change 5 unit at each price. Asume that the product is the inferior good. Find the new equilibrium point. g/ what is the new equilibrium if the government charge tax 0.5 per unit (the gov levies a tax on the seller). How much tax does the government collect? Who pay more tax, specifically by how much?
1/ The data regarding the demand market of in tons (X) and the price of the kilo of flour presetas (Y) in the decade of the 90 were: Q: 112 104 96 88 80 72 64 56 48 40 32 P: 1 2 3 4 5 6 7 8 9 10 11 a/ from the table above find out the function of demand Q=aP+B (using the Linear regression line using the method of least square). What is the meaning of slope (a) and intercept (b) b/ if the price is 6.5. estimating the four price based on linear regression. c/ assume that the supply function as follow Qs= -6+4P. Solve algebraically to find equillibrium point. d/ from the question c. if the price of market is 2. What happen with the market (surplus or deficit, In the future, the price decrease or increase) el calculating consumer surplus (CS) & producer surplus (PS) f/ from the questiom c. if the income of buyer increased it would lead to the demand change 5 unit at each price. Asume that the product is the inferior good. Find the new equilibrium point. g/ what is the new equilibrium if the government charge tax 0.5 per unit (the gov levies a tax on the seller). How much tax does the government collect? Who pay more tax, specifically by how much?
Chapter1: Making Economics Decisions
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Transcribed Image Text:1/ The data regarding the demand market of in tons (X) and the price of the kilo of flour presetas (Y) in
the decade of the 90 were:
Q: 112 104
96
88
80
72
64
56
48 40
32
P: 1
2 3 4 5 6 7 8 9
10 11
a/ from the table above find out the function of demand Q=aP+B (using the Linear regression line
using the method of least square). What is the meaning of slope (a) and intercept (b)
b/ if the price is 6.5. estimating the four price based on linear regression.
c/ assume that the supply function as follow Qs= -6+4P. Solve algebraically to find equillibrium point.
d/ from the question c. if the price of market is 2. What happen with the market (surplus or deficit, In
the future, the price decrease or increase)
e/ calculating consumer surplus (CS) & producer surplus (PS)
f/ from the questiom c. if the income of buyer increased it would lead to the demand change 5 unit at
each price. Asume that the product is the inferior good. Find the new equilibrium point.
g/ what is the new equilibrium if the government charge tax 0.5 per unit (the gov levies a tax on the
seller). How much tax does the government collect? Who pay more tax, specifically by how much?
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