ФЫ В А ПРОЯ В А П Р О Л ДЗАПРОЛДЖЭ ФЫВАПРО ВАПРОЛДЗАПРОЛДЖЭЯЧСМИТНЧСМИТЬБНСМИТЬБЮSOLVE STEP BY STEP IN DIGITAL FORMATPrice (P)2030405060QD Qo160 80 Deficit = 80Defict =40140 100120 120100 14080 160ЯЧСМИТНЧСМИТЬБНСМИТЬБюMarket situationBalance (Equilibrium)Surplus =40Surplus=80Price pressureTo the rise4 To the risestableDownDowna) Fill in the two columns of the tableb) Graph supply and demandc) Calculate the supply equationd) Calculate the demand equatione) Calculate the equilibrium pricef) Calculate the equilibrium quantity supplied and demandedЙЦУКЕНГШУКЕНГШЩЗКЕНГШЩЗХЪ ЙЦУКЕНГШУКЕНГШЩ ЗКЕНГШ щзхъ

Demand and supply are the two market forces that determine the price and output level where…

SOLVE STEP BY STEP IN DIGITAL FORMAT Price (P) 20 30 40 50 60 QD Qo 160 80 Deficit = 80 140 100 De fiet =40 Balance (Equilibrium) Surplus = 40 Surplus =80 120 120 100 140 80 160 Market situation Price pressure To the rise To the rise 4 stable Down Down a) Fill in the two columns of the table b) Graph supply and demand c) Calculate the supply equation d) Calculate the demand equation e) Calculate the equilibrium price f) Calculate the equilibrium quantity supplied and demanded

SOLVE STEP BY STEP IN DIGITAL FORMAT Price (P) 20 30 40 50 60 QD Qo 160 80 Deficit = 80 140 100 De fiet =40 Balance (Equilibrium) Surplus = 40 Surplus =80 120 120 100 140 80 160 Market situation Price pressure To the rise To the rise 4 stable Down Down a) Fill in the two columns of the table b) Graph supply and demand c) Calculate the supply equation d) Calculate the demand equation e) Calculate the equilibrium price f) Calculate the equilibrium quantity supplied and demanded

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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ФЫ В А ПРОЯ В А П Р О Л ДЗАПРОЛДЖЭ ФЫВАПРО ВАПРОЛДЗАПРОЛДЖЭ
ЯЧСМИТНЧСМИТЬБНСМИТЬБЮ
SOLVE STEP BY STEP IN DIGITAL FORMAT
Price (P)
20
30
40
50
60
QD Qo
160 80 Deficit = 80
Defict =40
140 100
120 120
100 140
80 160
ЯЧСМИТНЧСМИТЬБНСМИТЬБю
Market situation
Balance (Equilibrium)
Surplus =40
Surplus=80
Price pressure
To the rise
4 To the rise
stable
Down
Down
a) Fill in the two columns of the table
b) Graph supply and demand
c) Calculate the supply equation
d) Calculate the demand equation
e) Calculate the equilibrium price
f) Calculate the equilibrium quantity supplied and demanded
ЙЦУКЕНГШУКЕНГШЩЗКЕНГШЩЗХЪ ЙЦУКЕНГШУКЕНГШЩ ЗКЕНГШ щзхъ

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Demand Assignment Turn in hard copy at the beginning of class on Tuesday (02/06). It will be easier to draw the graphs by hand as opposed to electronically but be sure they are legible and to scale. Use the following demand schedule for a market for oranges to answer the following questions. Price ($/1b) Quantity Demanded (1000 lbs) 50 40 30 20 10 0 0 1 2 3 4 5 1. Plot the demand curve. 2. Suppose average incomes in this market increase. Illustrate how this will impact the oranges market. Label the 'new' curve. 3. New scenario. Suppose the price of apples decreases. In a new chart, illustrate how this will impact the oranges market. 4. Provide another specific example of a factor that would increase the demand for oranges. 5. Provide another specific example of a factor that would decrease the demand for oranges.
Using the examples below, select the correct reposnse to each example Examples Quantity Demanded Price of steel increases, effect on Ford Ford raises the price on Expeditions, effect on consumers Price of Chevy's increase, effect on Ford Price of SUV's increases Ford, effect on Ford Gas drastically increases in price, effect on Ford F-150's. Demand 0 0 0 0 Supply 000 0 Quantity Supplied 0
QUESTION 7 The demand for rubber erasers consists of two components. The first component is the demand for rubber erasers by art students. This demand is given by QA = 19,500 - 325P. The second component is the demand for rubber erasers by all others. This demand is given by Qo = 32,000 - 2,000P. (a) What is the total quantity demanded of rubber erasers if the price of an eraser is: (i) $10 (ii) $15 (iii) $20 (iv) $30 (v) $70 (b) Assume that the supply of rubber erasers is given by Qs = 14,000+ 175P. (i) Find the equilibrium price and the equilibrium quantity. (ii) Calculate the total consumer surplus. [Hint: It may be easier if you calculate the consumer surplus for art students and the consumer surplus for all others separately, and then add them up.] (c) Assume that the supply of rubber erasers is given by Qs = 8,390 + 180P. Find the equilibrium price and the equilibrium quantity. 10 (DC) EN510
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