The following relations describe monthly demand and supply for a computer support ser- vice catering to...
The following relations describe monthly demand and supply for a computer support ser-
vice catering to small businesses.
QD = 3,000 - 10P QS = -1,000 + 10P
where Q is the number of businesses that need services and P is the monthly fee, in dollars.
-
At what average monthly fee would demand equal zero?
-
At what average monthly fee would supply equal zero?
-
Plot the supply and demand curves.
-
What is the equilibrium price/output level?
-
Suppose demand increases and leads to a new demand curve:
QD = 3,500 - 10P
What is the effect on supply? What are the new equilibrium P and Q?
-
Suppose new suppliers enter the market due to the increase in demand so the new supply
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The following relations describe monthly demand and supply for a
computer support ser-
vice catering to...
. NEED ANSWER ASAP / ANSWER NEVER USED BEFORE, COMPLETELY NEW ANSWER PLEASE COPY AND PASTE...
.
NEED ANSWER ASAP / ANSWER NEVER USED BEFORE, COMPLETELY
NEW ANSWER PLEASE
COPY AND PASTE Answer no picture attachment
please.
NEEDS TO BE AN ORIGINAL SOURCE ANSWER
NEVER USED BEFORE
I APPRECIATE THE HELP
4. The following relations describe monthly demand and supply for a computer support service catering to small businesses. Qp = 3,000 - 10P Qs = -1,000+ 10P where Q is the number of businesses that need services and P is the monthly fee, in dollars....
6. Demand, Supply, consumer surplus and Market Equilibrium. The following relations describe monthly demand and supply...
6. Demand, Supply, consumer surplus and Market Equilibrium. The following relations describe monthly demand and supply conditions in the metropolitan area for recyclable aluminum QD = 317,500 - 10,000P (Demand) Qs = -2,500 + 10,000P (Supply) where Q is quantity measured in pounds of scrap aluminum and P is price in dollars. Complete the following table: A Calculate the market equilibrium price and output? B. What is the inverse demand curve P = f(QD)? C. Compute the consumer surplus at...
The supply and demand for 9-volt batteries are given by QD = 230 – 10P and...
The supply and demand for 9-volt batteries are given by QD = 230 – 10P and QS = 30P – 10, where P is the price per four-pack and Q measures the number of four-packs. a. What are the levels of consumer and producer surplus at the equilibrium price? b. Suppose that a hurricane causes widespread blackouts, shifting the demand curve for 9-volt batteries outward, with the new demand curve equal to QD = 690 – 10P. If the government...
1.) The following relations describe monthly demand and supply for a wheat where P is the...
1.) The following relations describe monthly demand and supply
for a wheat
where P is the price (in cents) per pound and Q is the quantity
(in millions) of pounds.
Suppose government passes a regulation which makes it illegal
for buyers to buy at a price lower than 60 cents per pound.
a.) Calculate the value of consumer surplus post-regulation.
Compare it with pre-regulation consumer surplus.
b.) Calculate the value of producer surplus post-regulation.
Compare it with pre-regulation producer surplus....
Consider a market for wheat. Suppose the supply and demand curves are linear, namely Supply: Qs...
Consider a market for wheat. Suppose the supply and demand curves are linear, namely Supply: Qs = 120 + 240P Demand: Qd = 300 - 120P a) (5%) What is the equilibrium price and quantity? b) (5%) What is the price elasticity of demand at the equilibrium? What is the price elasticity of supply at the equilibrium? For part c and d below, suppose that a drought changed the supply curve and the new equilibrium price is $1.00 per bushel....
2. Symbolic analysis of supply and demand: The following demand and supply functions provide a relatively...
2. Symbolic analysis of supply and demand: The following demand and supply functions provide a relatively general description of a market: Qs = D + eP where P is the price, Y is a variable denoting income, and Qd and Qs are the quantity demanded and the quantity supplied. The constants A, b, c, D, and e have values greater than zero. (a) Identify the parameters, endogenous variables, and exogenous variables in the above system of equations. (b) Derive expressions...
The following formulas represent the demand and supply curves for corn: QD = 1,600 – 125...
The following formulas represent the demand and supply curves for corn: QD = 1,600 – 125 * P QS = 440 + 165 * P Calculate the equilibrium price and quantity in this market and illustrate this graphically. Suppose corn becomes less popular so the market demand curve is now given by QD = 1,020 – 125 * P. Calculate the new equilibrium price and quantity and illustrate the movement from the old equilibrium to the new one graphically.
Supply and Demand
Consider the following hypothetical market for CDs. Suppose that the demand curve for CDs is given by QD=200-10P and suppose that the supply curve for CDs is give by QS=20P-100. a) Sketch the supply curve and the demand curve.b) What are the equilibrium price and quantity of CDs?c) Calculate the amount consumers paid (in total) for CDs
he demand and supply for a particular commodity are given by the following two equations: Demand:...
he demand and supply for a particular commodity are given by the following two equations: Demand: P = 10 – 0.2Qd and Supply: P = 2 + 0.2Qs Where Qd and Qs are quantity demanded and quantity supplied, respectively, and P is price. Using the equilibrium condition Qs = Qd, determine equilibrium price and equilibrium quantity. Equilibrium price = $ Equilibrium quantity = units Graph the two equations to substantiate your answer. Instructions: 1. Use the line tools Qd and Qs...
Consider the market for oranges. The supply curve is QS=-20 +10P The demand curve is Qd...
Consider the market for oranges. The supply curve is QS=-20 +10P The demand curve is Qd =100-10P Find the Equilibrium price. Find the equilibrium quantity Draw a rough sketch of your curves and depict the equilibrium What will be the outcome if the government fixes the price at $5.00 what will be the outcome? Calculate the consumers’ and producers’ surplus at the equilibrium price.
.
NEED ANSWER ASAP / ANSWER NEVER USED BEFORE, COMPLETELY
NEW ANSWER PLEASE
COPY AND PASTE Answer no picture attachment
please.
NEEDS TO BE AN ORIGINAL SOURCE ANSWER
NEVER USED BEFORE
I APPRECIATE THE HELP
4. The following relations describe monthly demand and supply for a computer support service catering to small businesses. Qp = 3,000 - 10P Qs = -1,000+ 10P where Q is the number of businesses that need services and P is the monthly fee, in dollars....
6. Demand, Supply, consumer surplus and Market Equilibrium. The following relations describe monthly demand and supply conditions in the metropolitan area for recyclable aluminum QD = 317,500 - 10,000P (Demand) Qs = -2,500 + 10,000P (Supply) where Q is quantity measured in pounds of scrap aluminum and P is price in dollars. Complete the following table: A Calculate the market equilibrium price and output? B. What is the inverse demand curve P = f(QD)? C. Compute the consumer surplus at...
1.) The following relations describe monthly demand and supply
for a wheat
where P is the price (in cents) per pound and Q is the quantity
(in millions) of pounds.
Suppose government passes a regulation which makes it illegal
for buyers to buy at a price lower than 60 cents per pound.
a.) Calculate the value of consumer surplus post-regulation.
Compare it with pre-regulation consumer surplus.
b.) Calculate the value of producer surplus post-regulation.
Compare it with pre-regulation producer surplus....
2. Symbolic analysis of supply and demand: The following demand and supply functions provide a relatively general description of a market: Qs = D + eP where P is the price, Y is a variable denoting income, and Qd and Qs are the quantity demanded and the quantity supplied. The constants A, b, c, D, and e have values greater than zero. (a) Identify the parameters, endogenous variables, and exogenous variables in the above system of equations. (b) Derive expressions...
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