You can sel 140 pet chias per week if they are marked at $1 each, but...
You can sell 60 pet chias per week if they are marked as $1 each, but only 50 per week if they are marked $2 per chia. Your chia supplier is prepared to sell you 10 chias per week if they are marked $1 per chia, and 20 per week if they are marked $2 per chia. At what price should the chias be marked so that there is neither surplus nor a shortage of chias?
An electronics store sold 29 TI-89 calculators in one week when they were priced at $140 each. The next week they were priced at $150 and 22 were sold. The store's supplier will sell the store 20 TI-89 calculators per week when they are priced at $140 and 28 per week when they are priced at $150. Find the associated linear supply and demand functions. Then determine the equilibrium price. Type out all work. 2. An electronics store sold 29...
please help 2. Problem solving (4 questions, 5 point each) 1. The demand and supply schedules for potato chips are in the table. Price (cents per bag) 50 60 70 Quantity Quantity demanded supplied (millions of bags a week) 160 130 150 140 140 130 160 120 110 180 150 80 90 170 100 a. draw a graph of the potato chip market and mark in the equilibrium price and quantity b. If the price is 60€ a bag, is...
Question 2.(20 points): A furniture store in North Carolina is selling a new model of couch. It can sell 210 couches per month if the price is $240, but it can only sell 130 couches per month if the price is $260. The suppliers of this store can provide 100 couches per month if the price is $240, but they can increase their supply by 100 couches per month more if the price is at $260. (a) Find two linear...
please answer the question c-f Q2 The demand and supply schedules for potato chips are in the table. 50 70 80 a) Draw a graph of the potato chip market and mark in the equilibrium price and quantity. Quantity Quantity Price demanded supplied b) If the price is 60¢ a bag, is there a shortage or a (cents per bag) (millions of bags a week) surplus, and how does the price adjust? 160 130 c) A new dip increases the...
Price (cents per gallon) 90 100 110 120 130 140 150 Quantity Demanded (thousand gallons per week 80 70 60 50 40 30 20 Quantity Supplied (thousand gallons per week 20 30 40 50 60 70 80 A market research team has come up with the demand and supply schedules for gasoline in Motorville in the table above. Use these data to analyze the situation in the market for gas in Motorville a) Draw a figure showing the demand curve...
The following graph shows the supply curve for a group of students looking to sel used graphing calculators. Each student has only one used calculator to sell. Each rectangular segment under the supply curve represents the cost,' or minimum acceptable price for one student. Assume that anyone who has a cost just equal to the market price is willing to sell his or her used calculator Beth Andrew I . PRICE (Dolars per used calculator) . Teresa Lorenzo QUANTITY (Used...
The table below displays information pertaining to the market for milk: TABLE 1 Cartons Per Day Price (dollars per carton) Quantity Demanded 1.00 200 1.25 175 1.50 150 1.75 125 2.00 100 Quantity Supplied 110 130 150 170 190 In this space, please illustrate the market for milk, with both the supply curve and demand curve graphed on the same graph, making sure you label each component and put the correct variables on the x and y-axis. b. If the...
Week 7 Worksheet 1) Imagine that you work for a firm that sells good x in a perfectly competitively market You know that you are one of 100 firms in this market and that they all have the same short run individual supply function: q10 Px 0.5 PL +K You also know that there is only one type of consumer, that there are 100,000 of them in the market, and that they have individual demand functions: 1 -0.5 P +0.05...
Suppose that you sell puppies. In the last 40 weeks, you have seen an average of 2 customers ask for puppies per week. Suppose that you can only carry 4 puppies in stock. When you run out of puppies, at the beginning of the next week you order 2 plus the number you sold the previous week. Make an appropriate assumption and determine a reasonable range of : 1. Average resupply order size 2. Probabilities that demand exceeds supply. 3....