) If Q4 = 100 - SP and Q = 10+ P, what are the equilibrium values of price and quantity?) If demand increases by 12 and price remains the same as in (a), will there be a surplus or%3Dshortage? How much?If demand increases by 12, what will be the new equilibrium price and quantity?Orpression for Od?

Qd = Qs 100-5p = 10+p 6p = 90 p = 15 Qd = Qs = 25 New demand = 37 Since demand is greater than…

Answered: If Q4 = 100 - 5P and Q = 10 + P, what…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The demand and supply functions for three (03) goods are given as follows: Dx = 100-3Px+Py+3Pz Dy = 80+Px-2Py-Pz Dz = 120+3Px-Py-4Pz Sx = -10+Px Sy = -20+3Py Sz = -30+2Pz The equilibrium prices and quantities of all three goods are? The government decides to: a) Impose a 25% Tax on X? b) Impose a 5 Rs /unit Tax on Y? c) Give a 10% subsidy on good z? Analyze the impact of each of these policies separately on equilibrium prices and quantities? Analyze the impact of each of these policies separately on equilibrium prices and quantities? Provide theoretical justification (using diagrams) of all results obtained?
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< Suppose that the quantity supplied S and quantity demanded D of T-shirts at a concert are given by the following functions where p is the price. S(p)=-210+70p D(p) 1150-100p Answer parts (a) through (c). (a) Find the equilibrium price for the T-shirts at this concert. The equilibrium price is $ (Round to the nearest dollar as needed.) What is the equilibrium quantity? The equilibrium quantity is T-shirts. (Type a whole number.) (b) Determine the prices for which quantity demanded is greater than quantity supplied. For the price $ supplied. p $ the quantity demanded is greater than quantity (c) What will eventually happen to the price of the T-shirts if the quantity demanded is greater than the quantity supplied? OA. The price will increase. OB. The price will decrease.
Assume that the market demand for a product is represented by the equation P=50- and its market supply by the equation P = 10 + 2Qs where Qd and are quantity demanded and quantity supplied, respectively, and P is the market price. Determine the equilibrium market price and quantity of the product. Clearly show your steps and calculations .

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