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- QUESTION 12 Assume that the price of cheese has decreased and the price of garlic bread (a substitute good) has decreased at the same time. How this will affect the market for pizzas? O a. Quantity of pizza would fall, and the effect on price would be ambiguous. O b. Price of pizza would rise, and the effect on quantity would be ambiguous. O. Quantity of pizza would rise, and the effect on price would be ambiguous. O d. Price of pizza would fall, and the effect on quantity would be ambiguous. QUESTION 13 Samuel owns a laundromat business in Queens, New York. He recently purchased 2 new washing machines and 2 new dryers. This will cause O a. the demand for laundromat services to increase. O b. the supply of laundromat services to decrease. O c. the demand for laundromat services to decrease. O d. the supply of laundromat services to increase. QUESTION 16 A likely example of complementary goods for most people would be O a. golf club and baseball bat. O b. tea and coffee. O c. CPA…Demand and supply equations are given below Calculate the equilibrium price and the equilibrium quantities. Qs = -20 + 4P Qd = 150 - 6P O A. 17 and 48 O B. 10 and 130 O C. 4 and 150 O D. 2 and 170186. Subject :- Economic
- 7PART I: For all questions in this section reference the graph and table below. 20 Q 0 5 10 ته نن من -15- C. -10- LO 5- 0 a. What is the demand function? b. What does this function tell you? Give an example of quantity demanded. d. How is quantity demanded different from demand? 5 e. What is the inverse demand function? P 20 10 0What is the market equilibrium price and what is the market equilibrium quanity and why?
- 5 IX 3 330 Price 8 7 6 2 1 0 110 220 440 550 660 Quantity per month 770 DS 880 (935, 0.5 990 Tools 1 22 O 52 e Suppose that in December the demand of mandarin oranges increases by 275 while the supply increases by 110. a) Draw the new curves D2 and S2 in graph above. Plot only the endpoints of the curve above and position those points on the edges of the graphing area.ADVANCED ANALYSIS Assume that demand for a commodity is represented by the equation P = 80 – 2Qd. Supply is represented by the equation P = -20 + 2Qs, where Qgand Qg are quantity demanded and quantity supplied, respectively, and Pis price. Instructions: Round your answer for price to 2 decimal places and enter your answer for quantity as a whole number. Using the equilibrium condition Qs = Qd, solve the equations to determine equilibrium price and equilibrium quantity. Equilibrium price = $ Equilibrium quantity = unitsPlease solve ASAP
- ADVANCED ANALYSIS Assume that demand for a commodity is represented by the equation P=80−2Qd.P=80−2Qd. Supply is represented by the equation P=−20+2Qs,P=−20+2Qs, where Qd and Qs are quantity demanded and quantity supplied, respectively, and P is price.Instructions: Round your answer for price to 2 decimal places and enter your answer for quantity as a whole number. Using the equilibrium condition Qs = Qd, solve the equations to determine equilibrium price and equilibrium quantity.What will happen to the equilibrium price and quantity of music compact discs if musicians accept lower royalties, compact disc players become cheaper, more firms start producing music compact discs, and music lovers experience an increase in income? Select one: O a. Equilibrium price would increase, but the impact on equilibrium quantity would be ambiguous. O b. Equilibrium price increases and equilibrium quantity decreases O c. Equilibrium price would decrease, but the impact on equilibrium quantity would be ambiguous. O d. Equilibrium quantity would increase, but the impact on equilibrium price would be ambiguous. O e. Equilibrium quantity would decrease, but the impact on equilibrium price would be ambiguous. Nexage IMG_7969.jpeg JPEDDone 4 LO 5 6 Question 3 **** Question 4 Question 5 199 + © ** D.J ECO-205 As...) O'Neill copy Question 4 What would happen to equilibrium price and equilibrium quantity of khaki pants if...the price of the cloth used to make khaki pants falls? A B S Price Slide 5 of 6 Eq 0₁ Ea. Q₂ D Quantity 5 Price Price Eg с 5 P₂ Eq P₁ D₂ Q₂ Quantity Q₁ 0₂ Quantity Describe the impact on equilibrium price and equilibrium quantity... what happened, and why? (Type your answer here.) The equilibrium price will go down due to the price decline of cloth. Companies have the ability to make different products at lower prices, making the equilibrium quantity decrease because fewer khaki pants are being made. A Drag this circle and place around the letter below for your answer. Price t%₂ P₁ P₂ 0₂ Notes Ơ : Q₁ 5 Quantity Comments :
