Do not use chatgpt. Seller 3's quantitysuppliedPrice Seller 1's quantitysuppliedSeller 2's quantitysupplied$1001$2102$333$45$57235How much is supplied in this market at a price of $2 and at a price of $5?Choose 1 answer:BO units when the price is $2; 3 units when the price is $52 units when the price is $2; 5 units when the price is $52 units when the price is $2; 8 units when the price is $53 units when the price is $2; 15 units when the price is $53 units when the price is $2; 7 units when the price is $5

When market price is $2, Quantity supplied by seller 1 = 1Quantity supplied by seller 2 = 0Quantity…

Answered: Seller 3's quantity supplied Price…

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter4: Demand, Supply, And Markets

Section: Chapter Questions

Problem 3.4P

See similar textbooks

Similar questions

The Unique Gifts catalog lists a "super loud and vibrating alarm clock." Their records indicate the following information on the relation of monthly supply and demand quantities to the price of the clock. Demand Supply Price 167 132 $32 137 172 $56 Use this information to find the following. (b) the demand equation p (c) the supply equation p (d) the equilibrium quantity and price
3. You are advising a friend who sells paintings on the sidewalk. What price should she put on all the paintings given the following information: Price $100 Quantity demanded 1 Price $80 Quantity demanded 2 Price $60 Quantity demanded 3 Price $40 Quantity demanded 4 And the fixed cost for her business is $50, while it costs her $40 to paint each additional painting, how many paintings should she sell if she sells each painting for the same price and what will that price be? Please show your work.
Price ($/cup) 4 3.5 3 2.5 2 1.5 1 0.5 0 0 10 20 Original Supply A decrease in the price of coffee beans. New Demand Original Demand 30 40 50 60 70 80 90 Quantity (cups/hour) New Supply The figure above refers to the market for coffee. What might cause a shift from the original demand curve to the new demand curve? Check all that apply. An increase in the price of tea (a substitute for coffee). A decrease in income if coffee is an inferior good. An expectation that coffee prices will fall in the future. A decrease in the price of cream (a complement to coffee)
B. Calculate for the demand and supply equation
not use ai please
Answer all 4 part please
The equilibrium price is the * O price at which the market clears average price consumers are willing to pay. O price at which all consumers are satisfied. O price at which quantity supplied is maximized. O price at which all potential suppliers will sell. Consider the market for arugula, a normal good. Which of the following changes would result in an increase in both the equilibrium price and the equilibrium quantity of arugula? * O A decrease in consumer income An increase in the price of salad dressing, a complement A decrease in the price of radicchio, a substitute An increase in the price of water irrigation for arugula farms An increase in population
consider the world market for a particular quality of coffee beans the following table shows the demand and supply schedule for this market
am i correct? any changes or suggestions to be made?
In this market there will be an excess supply of 1000 gardenburgers at a price of 2. If the price per garden burger is $6 there is a
QUESTION 1 Price per litre ($) Quantity Demanded in 000 Quantity Supplied in 000 litres (per Month) litres (per month) 11 . 0 27 10 2 25 9 4 23 8 6 20 7 8 17 6 10 15 5 12 12 4 14 10 3 16 7 2 18 5 1 3 3 1. Construct the demand and supply curves for gasoline to show the market equilibrium for gasoline.
21 Refer to the table below. If the price of radios is $55, there would be an Quantity Quantity Demanded of Supplied of Radios Radios Price $75 77 70 OROGORO 65 60 55 50 45 40 400 450 500 550 600 650 700 750 900 850 800 750 700 excess demand; 500 excess demand: 100 excess supply: 100 excess supply: 600 excess demand; 700 650 600 550 of radios in this market.

SEE MORE QUESTIONS

Recommended textbooks for you

ECON MICRO

Economics

ISBN:

9781337000536

Author:

William A. McEachern

Publisher:

Cengage Learning

ECON MICRO

Economics

ISBN:

9781337000536

Author:

William A. McEachern

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS