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The supply curve S(x) and the demand curve D(x) for choclates are giv √4x+16 4 ; D(x) = 8-x for 0≤x≤8 x: Quantity in units, S and D price per unit a) Sketch the graphs of the two functions in the given grid below and mark both axes and the two functions correctly. Calculate the coordinates of the market equilibrium point and mark it in the graph. 이이이이 이 S(x) = b) What is the revenue of the producer in the equilibrium? Assume that the producers decide to sell the product for a price of 2 per unit without changing the supply curve. What is the corresponding demand and supply for this price? e) Mark the gap between supply and demand for price 1.2 per unit in the graph? Explain what the producers have to do.

The supply curve S(x) and the demand curve D(x) for choclates are giv √4x+16 4 ; D(x) = 8-x for 0≤x≤8 x: Quantity in units, S and D price per unit a) Sketch the graphs of the two functions in the given grid below and mark both axes and the two functions correctly. Calculate the coordinates of the market equilibrium point and mark it in the graph. 이이이이 이 S(x) = b) What is the revenue of the producer in the equilibrium? Assume that the producers decide to sell the product for a price of 2 per unit without changing the supply curve. What is the corresponding demand and supply for this price? e) Mark the gap between supply and demand for price 1.2 per unit in the graph? Explain what the producers have to do.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Please answer all except A and B)

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Mahboob

The supply curve S(x) and the demand curve D(x) for choclates are given by: V4x + 16 S(x) : ; D(x) = 8 – x for 0<x S8 %3D 4. X: Quantity in units, S and D price per unit a) Sketch the graphs of the two functions in the given grid below and mark both axes and the two functions correctly. Calculate the coordinates of the market equilibrium point and mark it in the graph. c) What is the revenue of the producer in the equilibrium? d) Assume that the producers decide to sell the product for a price of 2 per unit without changing the supply curve. What is the corresponding demand and supply for this price? e) Mark the gap between supply and demand for price 1.2 per unit in the graph? Explain what the producers have to do.
Transcribed Image Text:The supply curve S(x) and the demand curve D(x) for choclates are given by: V4x + 16 S(x) : ; D(x) = 8 – x for 0<x S8 %3D 4. X: Quantity in units, S and D price per unit a) Sketch the graphs of the two functions in the given grid below and mark both axes and the two functions correctly. Calculate the coordinates of the market equilibrium point and mark it in the graph. c) What is the revenue of the producer in the equilibrium? d) Assume that the producers decide to sell the product for a price of 2 per unit without changing the supply curve. What is the corresponding demand and supply for this price? e) Mark the gap between supply and demand for price 1.2 per unit in the graph? Explain what the producers have to do.
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