ANSWER 1-3 ONLY P1. Plot and graph the data on the supply curve.Quantity Demanded (in kgs)100908070605040PPPrice (Php)50.0060.004. Plot and graph the data on the supply curve.70.0080.0090.00100.00110.002. Analyze the data and describe the supply curve.3. Compute the elasticity of demand and supply with an implication based on the estimated results.SFigure 1: Price and Quantity Supplied of TilapiaLegend: P-Price, S-Supply, Qd - Quantity DemandedDDQuantity Supplied (in kgs)405060708090100Figure 2: Price and Quantity Demanded of TilapiaLegend: P-Price, D - Demand, Qd - Quantity Demanded5. Analyze the data and describe the curve.6. Using the data from the demand and supply, determine the equilibrium point of the demand andsupply curves.SFigure 3: Equilibrium PriceQdQdQd7. How much is the price in the equilibrium point?8. Suppose the price of rice is P85.00. Is the quantity demanded will be lower or higher than at theequilibrium price of P80.00 per kilo? Is the quantity supplied be lower or higher? Is there a shortage or asurplus in the market? If so, how much?

The demand curve shows the quantities of a commodity that buyers will be willing and able to…

100 90 80 70 60 50 40 1. Plot and graph the data on the supply curve. P 50.00 60.00 70.00 80.00 90.00 100.00 110.00 S Figure 1: Price and Quantity Supplied of Tilapia Legend: P-Price, S-Supply, Qd- Quantity Demanded 4. Plot and graph the data on the supply curve. 40 50 60 70 80 90 100 2. Analyze the data and describe the supply curve. 3. Compute the elasticity of demand and supply with an implication based on the estimated results. Qd

100 90 80 70 60 50 40 1. Plot and graph the data on the supply curve. P 50.00 60.00 70.00 80.00 90.00 100.00 110.00 S Figure 1: Price and Quantity Supplied of Tilapia Legend: P-Price, S-Supply, Qd- Quantity Demanded 4. Plot and graph the data on the supply curve. 40 50 60 70 80 90 100 2. Analyze the data and describe the supply curve. 3. Compute the elasticity of demand and supply with an implication based on the estimated results. Qd

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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