Question

question 2 please need help

produced in P,- 100 and P, - 107 How many DVD players are produced if P, -100 and P,- 307 Suppose P. - 10. Determine the supply function and Inverse supply function. Draw the supply curve. What if the price of the good is $100, how much is the producer surplus? Question 2 Suppose the demand for DVD players (good X) is given by 01 - 1200 - P.+ P-8p. + tom Are goods Y and Z substitutes or complements of good X? Is good X an inferior or a normal good? What is the quantity demanded of good X, if research shows that P-500, P,- 400, P-10, M = 10,000? Determine the demand function and the inverse demand function for good X. Draw the demand curve. 1 the price level is $3440, what is the consumer surplus? Question 3 Assume the quantity demanded of T-shirts is determined as follows

Answer 1

Qx - 1200 - thx + 1 ly - 8 pz + 1 m. TO Y is substitute of X X - - 8 0 2 is compliment q X. (3) dox - to am >0 x is Normal Good (4) Crimen, - Py = 500 Py = 400 Pz - 10 M = 10,000 Qx = 1200-** 500 + 2x400 - 8 X10 + 1.xl.com - 1200-250 + 100 -80 +1 000 1970 O

(5) Date : Camlinſonge Demand function is defined as relationship the between the quantity demanded of a good cwith its own price assuming suere other factors affecting demand to be constant Other factors are Income and prices of Other goods such as substitute and compliments. fence to derine demand function, nue assume Pu, Pz and m to be constent so me let Py = 400 Pz = 10 m = 10000 Demand function is, px - 1200-1 P+x400 - 8X10 +[X10000 - 1200-4Rx +100 - 80 + 1000 Qu - 2220 - JP Demand function - I Be = 2220 - Qx

i - Py = 4440 - 2Qx) Inverse demand function

Camlin Page Date 44-40 учы 220 guary

(7) when , Pq 2 8440 , then, Qx = 2220 x 34чо - 22 20 — 1720 — SOO

t consumers surplus 3440 price Soo 2220 Quantity consumer surpley - Area of Shaded A - 1x base x Height L x 500 x 1000 3250000