Refer to the diagram to the right.QThe MarketThe equation for market demand is given by:100-Q = 950 – 10p.90-The equation for market supply is given by:80-Q = - 400 + 20p.70-60-For the numerical questions that follow, answer them using the equations above. Do not rely onthe graph.50-4540-p = 35.00At the market equilibrium price of $45, the residual demand for a given firm is: 0 units. (Enteryour response as an integer.)30-20-At a market price of $35.00, the residual demand for this same firm is: 70 units. (Enter your10-response as an integer.)5000-100 200 300 400 500 600 700 800 900 1000dDof this firm's residual demand curve is:-7. (Enter your response rounded toQuantity (per week)The slope,dPone decimal place.)DECstvE 20g: 00:38:40NextPIIFBF4FSF3&@$234568{[RTYPQWESDGHJKLA>CVNMcommandoptioncommand.. .-V-N

a) Qd=950-10pQs=-400+20pNow,Equilibrium is achieved…

Refer to the diagram to the right. The Market The equation for market demand is given by: Q = 950 - 10p. 90 The equation for market supply is given by: 80- Q= -400 + 20p. 70- 60- For the numerical questions that follow, answer them using the equations above. Do not rely on the graph. 50-45 40 At the market equilibrium price of $45, the residual demand for a given firm is: 0 units. (Enter your response as an integer.) p = 35.00 30- 20 At a market price of $35.00, the residual demand for this same firm is: 70 units. (Enter your 10- response as an integer.) :500 0+ O 100 200 300 400 500 600 700 800 900 1000 dD of this firm's residual demand curve is:-7. (Enter your response rounded to Quantity (per week) The slope, dP one decimal place.)

Refer to the diagram to the right. The Market The equation for market demand is given by: Q = 950 - 10p. 90 The equation for market supply is given by: 80- Q= -400 + 20p. 70- 60- For the numerical questions that follow, answer them using the equations above. Do not rely on the graph. 50-45 40 At the market equilibrium price of $45, the residual demand for a given firm is: 0 units. (Enter your response as an integer.) p = 35.00 30- 20 At a market price of $35.00, the residual demand for this same firm is: 70 units. (Enter your 10- response as an integer.) :500 0+ O 100 200 300 400 500 600 700 800 900 1000 dD of this firm's residual demand curve is:-7. (Enter your response rounded to Quantity (per week) The slope, dP one decimal place.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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