NOTE: ANSWER ONLY 83 TO 85. ACTIVITY IProblem Solving and Graphing. Refer to the schedule of the demand for tomatoes to answer the questionsthat follow. Use and attach a graphing paper for your answers, solutions, and graphs.Price per kiloQuantity Demanded154803040045320602407516081. Based on the information given, derive the demand equation for tomatoes in the form Qa = a - bP.82. Assume that consumers expect the price of tomatoes to be lower next month because of oversupply:hence, the demand for onions now falls. At each of the prices on the original demand schedule, thequantity demanded is now 80 kilos lower than it was previously. Create a new demand schedulerepresenting the lower demand for tomatoes and derive a new demand equation from the newdemand schedule.83. Graph the original and new demand curve and explain the change in demand for tomatoes causedby price expectations.84. Now assume that due to rising incomes, tomato buyers in Pangasinan have increased theirpurchases, thus demand increases. At each of the prices on the original demand schedule, thequantity demanded is 120 kilos higher now than it was before. Create a new demand schedule andderive a demand equation from the new demand schedule85. Graph the original and new demand curve and explain the change in demand for tomatoes broughtby increased income.

Demand equation genral form is Q = a-bP where negative sign is just shows the negatives relationship…

83. Graph the original and new demand curve and explain the change in demand for tomatoes caused by price expectations. 84. Now assume that due to rising incomes, tomato buyers in Pangasinan have increased their purchases, thus demand increases. At each of the prices on the original demand schedule, the quantity demanded is 120 kilos higher now than it was before. Create a new demand schedule and derive a demand equation from the new demand schedule 85. Graph the original and new demand curve and explain the change in demand for tomatoes brought by increased income.

83. Graph the original and new demand curve and explain the change in demand for tomatoes caused by price expectations. 84. Now assume that due to rising incomes, tomato buyers in Pangasinan have increased their purchases, thus demand increases. At each of the prices on the original demand schedule, the quantity demanded is 120 kilos higher now than it was before. Create a new demand schedule and derive a demand equation from the new demand schedule 85. Graph the original and new demand curve and explain the change in demand for tomatoes brought by increased income.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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