a. Given that the demand (D) and supply (S) curve for television as D = 100 - 5P, S= 28 + 3P where P is the price of television. Compute the quantity of computers bought and sold at equilibrium b. Based on the information in Q(a), calculate the new equilibrium price and quantity if suppliers must pay a tax of RM6 per unit. c. Consider the market for house in 2010 and 2011, the equilibrium price of house remained constant, but the equilibrium quantity of house increased. Conclude if there is any changes of the supply and demand of house between 2010 and 2011. Sketch the graph for this situation
a. Given that the demand (D) and supply (S) curve for television as D = 100 - 5P, S= 28 + 3P where P is the price of television. Compute the quantity of computers bought and sold at equilibrium b. Based on the information in Q(a), calculate the new equilibrium price and quantity if suppliers must pay a tax of RM6 per unit. c. Consider the market for house in 2010 and 2011, the equilibrium price of house remained constant, but the equilibrium quantity of house increased. Conclude if there is any changes of the supply and demand of house between 2010 and 2011. Sketch the graph for this situation
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter4: Markets In Action
Section: Chapter Questions
Problem 1SQP
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![a. Given that the demand (D) and supply (S) curve for television as
D = 100 - 5P, S = 28 + 3P
where P is the price of television. Compute the quantity of computers bought and sold
at equilibrium
b. Based on the information in Q(a), calculate the new equilibrium price and quantity
if suppliers must pay a tax of RM6 per unit.
c. Consider the market for house in 2010 and 2011, the equilibrium price of house
remained constant, but the equilibrium quantity of house increased. Conclude if there
is any changes of the supply and demand of house between 2010 and 2011. Sketch the
graph for this situation](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4f81579e-c137-4a98-9f1c-50ec29bf2384%2Fec08a7c7-f48f-43ad-a88c-4a7008dbe127%2Fn2u6bhn_processed.png&w=3840&q=75)
Transcribed Image Text:a. Given that the demand (D) and supply (S) curve for television as
D = 100 - 5P, S = 28 + 3P
where P is the price of television. Compute the quantity of computers bought and sold
at equilibrium
b. Based on the information in Q(a), calculate the new equilibrium price and quantity
if suppliers must pay a tax of RM6 per unit.
c. Consider the market for house in 2010 and 2011, the equilibrium price of house
remained constant, but the equilibrium quantity of house increased. Conclude if there
is any changes of the supply and demand of house between 2010 and 2011. Sketch the
graph for this situation
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