To determine the market equilibrium numerically, after a shift of the D curve, we must: Calculate a new Qd (Qd1), then equate Qd1=Qs0 Calculate a new Qd (Qd1), then equate Qd0=Qs0 Calculate a new Qd (Qd1), then equate Qd1=Qd2 none of these
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To determine the
Calculate a new Qd (Qd1), then equate Qd1=Qs0
Calculate a new Qd (Qd1), then equate Qd0=Qs0
Calculate a new Qd (Qd1), then equate Qd1=Qd2
none of these
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- 10:55 Sun 8 Aug 30% Screenshot_20210808-073803_Office.jpg a) Choose X, and X, to max the utility fxn, UX,X)=chX;+(l-a)hX, st: M = P, X, + P¿X ; a) Consider a price decrease for good 1 from P toP" . Write down the Demand functions for good 1 when prices are P, and when prices drop from R toP" b) Obtain the SE and IE associated with the price changeSuppose the demand function for product X is estimated by the equation: QDX= -2PX + 0,5PY - 0,2PZ + 1,2I. In there:QDX is the quantity demanded of product XPX is the price of product XPY is the price of product YPZ is the price of product ZI is the average income of consumersa/ Please make an argument to determine the relationship between two products X and Y, X and Z.b/ Please make an argument to determine whether product X is an ordinary good or a low-end goodA TV channel has estimated the demand for its service to be givenby the following function: Q=9.83p-1.2A2.5Y1.6P0-1.4whereQ = monthly sales in unitsP = price of the service in $A = promotional expenditure in $’000Y = average income of the market in $’000P0 = price of ‘home movies’ in $ The current price of the TV channel is $60, promotional expenditure is$120,000, average income is $28,000, and the price of ‘homemovies’ is$45.Indicate whether the following statements are true or false, givingyour reasons and making the necessary corrections h. Current sales are over a million units a month. i. The demand curve for the channel is given by:Q=9.83p-1.2j. The channel’s sales are more affected by the price of ‘home movies’ than by the price of its own service.k. If the channel increases its price this will reduce its profit.
- 1.5 Your firm, Content Friend, is similar to Happy Labourer, a Ghanaian firm that designs and manufactures artifacts and souvenirs. Your research analyst has estimated the demand function for your kente souvenirs is Qd = 33 - 4P If you set the price of a plush kente souvenir at $5, how many will consumers buy? If you increase the price of a plush kente souvenir by $1, how will this change the quantity that your customers buy?5. 24.A large Coca-Cola vendor recently hired some economic analysts to assess the effect of a price increase in its 16-ounce bottles from $1.00 to $2.00. The analysts determined that, on average, the vendor's customers spend about $15.00 on soda (Coke and all other brands) each week, and the average price for other 16- ounce soda bottles is $1.00. The analysts also utilized some focus groups to determine the preferences of the vendor's customers. They used this analysis to build the following graph: Bottles of Budget line with price of $1.00 Other Soda Budget line with price of $2.00 Bottles of Coke Suppose Xo = 9 and X1 = 7. Should the vendor expect to sell 7, more than 7, or less than 7 bottles of Coke after raising the price to $2.00 if Coke is a normal good?Given the following demand function for beef (kg), P = 200 – 5Q i) By how much would the price have to fall for consumers to be willing to buy 1 more kg of beef per day? ii) If the price decreases by N$0.9, by how much will the demand changed?
- Suppose the market demand curve for pizza can be expressed as QD = 100 - 2P + 3Pb, where QD is the quantity of pizza demanded, P is the price of a pizza, and Pb is the price of a burrito. What is the slope of this demand function, and what information does the slope provide?..On the following graph, plot Tim’s demand for pizza slices using the green points (triangle symbol). Next, plot Alyssa’s demand for pizza slices using the purple points (diamond symbol). Finally, plot the market demand for pizza slices using the blue points (circle symbol). Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.The question has three parts 1. Graph( attached as an image) 2. graph (attached as an image) 3.According to the midpoint method, the price elasticity of demand between points A and B is approximately.............................(0/0.6/1.67/75.02). Suppose the price of bikes is currently $200 per bike, shown as point A on the initial graph. Because the demand between points A and B is......................( elastic/inelastic/unit elastic), a $25-per-bike decrease in price will lead to............................(a decrease/an increase/no change) in total revenue per day. In general, in order for a price increase to cause a decrease in total revenue, demand must be......................( elastic/inelastic/unit elastic).
- Please answer ASAP will upvote, thanks!Hw.18.Q3. D= f (PX) is a general form of demand function, does not explain the nature andmagnitude of the relationship between dependent and independent variable? How will youexplain bivariate and multivariate demand functions with reference to price, income, price ofrelated goods (substitute goods) in specific linear and non-linear form of demand function?