Refer to the diagram to the right.The 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 on the graph.50-45At the market equilibrium price of $45, the residual demand for a given firm is:40-p = 35.00units. (Enter your response as an integer.)30-20At a market price of $35.00, the residual demand for this same firm is: units(Enter your response as an integer.)10-500dDó 100 200 300 400 500 600 700 800 900 1000Quantity (per week)The slope, n of this firm's residual demand curve is:. (Enter your responserounded to one decimal place.)tvMacBook Air80FBF9F10F2F3F4FS2#$&3456.789{WERYPDGHK>сcommandoption.. ..B>

Answer a At equilibrium Qd=Qs 950-10p=-400+20p -30p=-1350 P=45 Putting value of p=45 in Qd or Qs…

The equation for market demand is given by: Q = 950 - 10p. %3D The equation for market supply is given by: Q = - 400 + 20p. For the numerical questions that follow, answer them using the equations above. Do not rely on the graph. At the market equilibrium price of $45, the residual demand for a given firm is: units. (Enter your response as an integer.) At a market price of $35.00, the residual demand for this same firm is:units. (Enter your response as an integer.) dD The slope, . of this firm's residual demand curve is: (Enter your response dP rounded to one decimal place.)

The equation for market demand is given by: Q = 950 - 10p. %3D The equation for market supply is given by: Q = - 400 + 20p. For the numerical questions that follow, answer them using the equations above. Do not rely on the graph. At the market equilibrium price of $45, the residual demand for a given firm is: units. (Enter your response as an integer.) At a market price of $35.00, the residual demand for this same firm is:units. (Enter your response as an integer.) dD The slope, . of this firm's residual demand curve is: (Enter your response dP rounded to 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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