A market research team has come up with the demand and supply schedules for laptops in a country. In the tablebelow use these data to analyze the situation in the market for laptops in that country.Market Price (P)Market Demand (MD)Market Supply (MS)3516114302290253062203939154720105710Based on your understanding of the research paper provided, answer following questions:a) Explain how we reach the equilibrium, and draw a diagram showing the demand curve for laptops_and the supplycurve of laptops.b) What are the equilibrium price and quantity? And the market surplus and shortage at each price level. (7 Marks)(7 Marks)

Answered: Image /qna-images/answer/57f9ec89-c1fd-4029-aeaa-9d67c38fdde0.jpg

Taptops table ow use these data to analyze the situation in the market for laptops in that country. Market Price (P) Market Demand (MD) Market Supply (MS) 35 16 114 30 22 90 25 30 62 20 39 39 15 20 10 47 10 57 ed on your understanding of the research paper provided, answer following questions: a) Explain how we reach the equilibrium, and draw a diagram showing the demand curve for laptops and the supply curve of laptops. b) What are the equilibrium price and quantity? And the market surplus and shortage at each price level. (7 Marks) (7 Marks)

Taptops table ow use these data to analyze the situation in the market for laptops in that country. Market Price (P) Market Demand (MD) Market Supply (MS) 35 16 114 30 22 90 25 30 62 20 39 39 15 20 10 47 10 57 ed on your understanding of the research paper provided, answer following questions: a) Explain how we reach the equilibrium, and draw a diagram showing the demand curve for laptops and the supply curve of laptops. b) What are the equilibrium price and quantity? And the market surplus and shortage at each price level. (7 Marks) (7 Marks)

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter1A: Appendix: Working With Graphs

Section: Chapter Questions

Problem 1E

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Microeconomics
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I am stuck on this problem, I don't know where to start. Could you give a step by step on how to figure this problem out. Thank you. There is an increase in demand of 100 units at each price and a decrease in supply of 100 units at each price. In the graph below, draw the new demand and supply lines. Instructions: Use the graphing tools, 'D2', 'S2', to plot the new demand and supply lines on the figure and then use the grid lines to determine the new equilibrium price and quantity.
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Question 2 Plot the demand curve from the demand schedule information provided. Price Quantity Demand (Qd) 1 9 2 6 3 4 4 3 5 2 (a) What can you explain from the graph? (b) Can you identify any determinants? (c) What happens if price changes? (d) What else do you think will happen? (e) What happens if other determinants change? Requestion solution for subsection ( d ) and (e)
The table below is extracted from Goodland Republic Bureau of Statistics records for 2016 -2017. Use the information to answer the questions that follow. Goodland Economy 2013 and 2018 I tem Price 2017 (Base year) Price 2018 Price per Price per Unit ($) | Production 55,000 98,000 45,000 2,450.00 110,000 6.000 7,000.00 Unit ($) Production 50,000 100,000 50,000 23,000.00 120,000 5,000 Rice ( tons) Wheat (tons) Tractors mid-size (units) Cotton (tons) Used cars Manufacture garments ( tons) Eggs (Trays) Соса Cola (litres) Pepsi Cola (litres) Beef (tons) Second hand cloths (tons) Alcoholic Beverages (litres) Milk (litres) 1.50 2.00 2.00 2.50 100.00 120.00 5,000.00 50.00 150,000 2,000 6,000 700 145,000 2,300 6,500 70.00 2.50 3.50 0.80 1.20 1.50 1.10 850 5,000 500 500 4,800 450 600 6.50 8.50 15.00 25.00 3.25 3.75 7,000 2.30 7,500 2.50 Examine the status of the economic welfare in Goodland Republic in 2018 based on your GDP deflator, nominal GDP and Real GDP. Also, explain the reasons why it is…
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Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand curve. Note: You will not be graded on any changes made to this graph. PRICE (Dollars per scooter) 325 300 275 250 225 200 175 150 125 100 75 50 25 0 09 18 27 A + 36 45 54 63 72 81 QUANTITY (Scooters) B Demand 90 90 99 108 117 Total Revenue ?
answer #1 only :))