The monthly demand and supply for bicycles are given by Qd =900 – 100P and Qs = 50P(Q=400) where price is in dollars per unit and quantity is in thousands of units. Please draw the graph!!! I will upvote your answer if you will draw a graph in a clear way. Step 1. Calculate the P intercept, Calculate the Q intercept, Connect the two points on the graph. Štep 2. Calculate equilibrium Q and P Step 3. Draw a graph and label the axes (include in the label the measurement units to avoid errors).
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- Consider a market for solar energy panels as shown in the given graph. Due to a major breakthrough in terms of technological advancement in its manufacturing, the cost of production has gone down drastically. This causes the manufacturers of solar energy panels to shift their supply curve. Show the impact of this technological advancement on the supply curve of solar energy panels. Using the Line drawing tool, draw the new supply curve of solar energy panels. Carefully follow the instructions above and only draw the required object. What happens to the equilibrium price and quantity demanded after the supply curve of solar energy panels shifts? O A. Both price and quantity demanded increase. O B. Both price and quantity demanded decrease. O C. Price increases and quantity demanded decreases. O D. Price decreases and quantity demanded increases. Click the graph choose a tool in the palette and follow the instructions to create your graph Price of solar panels Graph Quantity of solar…On April 1, the price of gas at Bob's Corner Station was $4.95 per gallon. On May 1, the price was $5.45 per gallon. On June 1, it was back down to $4.95 per gallon. Between April 1 and May 1, Bob's price increased by or Between May 1 and June 1, Bob's price decreased by or Suppose that at a gas station across the street, prices are always 20% higher than Bob's. In absolute dollar terms, the difference between Bob's prices and the prices across the street is when gas costs $5.45 than when gas costs $4.95. Some economists blame high commodity prices (including the price of gas) on interest rates being too low. Suppose the Fed raises the target for the federal funds rate from 2% to 2.75%. This change of percentage points means that the Fed raised its target by approximatelyThe supply and demand for a computer in a store are given for two prices: for a price of $800, the demand quanity is 50 and the supply quanity 230: for a price of $50, the demand quanity is 150 and the supply quantity 150. Let a represent the quanity A. Write an equation representing the demand function B. Write an equation representing the supply function C. Find the equlibrium quantity and price
- The following table shows worldwide sales of a certain type of cell phone and their average selling prices in 2012 and 2013. Year 2012 2013 Selling Price ($) Sales (millions) 928 1,144 375 335 (a) Use the data to obtain a linear demand function for this type of cell phone. (Let p be the price, and let q be the demand). q(p): -5.4p + 3185 X Use your demand equation to predict sales if the price is lowered to $255. 1808 x million phones (b) Fill in the blank. For every $1 increase in price, sales of this type of cell phone decrease by 5.4 million units.The demand for butter is given by 120-4pd and the supply is 2ps-30, where pd and ps are, respectively the price paid by demanders and the price received by suppliers. a: Draw the demand and supply functions. b: Find the equilibrium quantity and price, and show them on the graph. c: Suppose a drought strikes that shifts the supply functions to 2ps-60. The demand remains the same. Draw the new supply function, and find the new equilibrium price and quantity.Suppose the supply of a good is given by the equation Q = −6+2P and the demand for the good is given by the equation QD = 14 - 2P, where quantity (Q) is measured in millions of units and price (P) is measured in dollars per unit. The equilibrium quantity in this market is 4 million PRICE (Dollars per unit) the following graph, plot the demand curve using the blue line (circle symbol) and plot the supply curve using the orange line (square symbol). Then place the black point (plus symbol) at the equilibrium price and quantity. Dashed drop lines will automatically extend to both axes. 10 9 8 7 2 1 0 0 1 2 3 4 5 6 7 QUANTITY (Millions of units) 8 units and the equilibrium price is 9 10 Demand Supply $5. Equilibrium
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