please sir solve question 7 □If you have demand function@d_when.20-2P₁ +3P₂ +4Ps + 2yP₁: price of good (1), and 12 and for the price of other goodsand y incomA- Find reduce form when P₂ = 1 and P₂ = 3 Y = 100B- Find The slope demand function2- If you have supply functionLЗатир, бориA- Find reduce supply function when Pn = 30B. Find the slope of supplyfunctionfromand find Equilibrium14. If the price of P23 increase from 3 tolo from eq (1)find the New Equilibrium- find The Cross price elasticity of demand eninterpretate the resulton pa Equilibrium, and7 from Dand 2 Calculate Consumer and producerSurplus18- If U =1 = C² C²y find demand function on Crando,and when Px = 2 and Py = 3 and I = 2and I = 200 findthe Equilibrium.@_when from @ find theExpenditure.quantitiesthat minimize

Producer surplus is the difference between the price at which producers are willing to supply a good…

Answered: If you have demand function Do=…

If you have demand function Do= 20-2Pi+зрати Pa+2/ 2Y when P₁ : price of good (1), and 12 and for the price of other goods and y incom

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

please sir solve question 7

□
If you have demand function
@d_
when.
20-2P₁ +3P₂ +4Ps + 2y
P₁: price of good (1), and 12 and for the price of other goods
and y incom
A- Find reduce form when P₂ = 1 and P₂ = 3 Y = 100
B- Find The slope demand function
2- If you have supply function
L
Затир, бори
A- Find reduce supply function when Pn = 30
B. Find the slope of supply
function
from
and find Equilibrium
14. If the price of P23 increase from 3 tolo from eq (1)
find the New Equilibrium
- find The Cross price elasticity of demand en
interpretate the result
on pa Equilibrium, and
7 from Dand 2 Calculate Consumer and producer
Surplus
18- If U =
1 = C² C²y find demand function on Crando,
and when Px = 2 and Py = 3 and I = 2
and I = 200 find
the Equilibrium.
@_when from @ find the
Expenditure.
quantities
that minimize

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Step 1: Define Consumer and producer surplus

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