(b) $30; demand
We can see in the table that at this price i.e., at $10, quantity demanded = 700 units, quantity supplied = 400 units
Excess demand = 700 - 400 = 300 units
The supply and demand schedules for the umbrella market are given below. At a price of...
1. The following table shows the supply and demand schedules in a market. Quantity Demanded 800 Quantity Supplied 0 100 Price $2 $10 $12 $14 $16 500 400 300 200 100 0 300 400 500 600 800 (1 point) Graph the demand and supply curves. (0.5 points) What is the equilibrium price in this market? (0.5 points) What is the equilibrium quantity in this market?
10. The table shows the demand and supply schedules for running shoes. What is the market equilibrium? If the price is $70 a pair, describe the situation in the market. Explain how market equilibrium is restored. If a rise in income increases the demand for running shoes by 100 pairs a day at each price, explain how the market adjusts to its new equilibrium. Quantity (dollarsdemanded upplied Price per pair) 70 90 Quantity (pairs per day) 1,000 900 800 700...
Consider the market for rental housing in Yourtown. The demand and supply schedules for rental housing are given in the table. Quantity Demanded (thousands of units) 40 50 60 70 80 90 100 Quantity Supplied (thousands of units) 80 Price (S per month) 1100 1000 900 800 700 600 500 73 70 67 65 60 a. In a free market for rental housing, what is the equilibrium price and quantity? b. Now suppose the government in Yourtown decides to impose...
3. Consider the following hypothetical supply and demand schedules for the newest smartphone at USF. Supply Schedule Demand Schedule Price Quantity Price Quantity 700 10,000 700 1,000 650 8,000 650 2,000 600 6,000 600 3 000 550 4,000 550 4,000 500 2,000 500 5,000 a. What is the equilibrium price and quantity? Briefly explain using the table. b. At a price of 500, is there a shortage or a surplus of smartphones? What is the size of the shortage/surplus? Briefly...
Given the table below, what is the equilibrium price? Price Quantity Demanded Quantity Supplied $ 105 400 1000 $ 100 450 950 $ 95 500 900 $ 90 550 850 $ 85 600 800 $ 80 650 750 $ 75 700 700 $ 70 750 650 © $ 70 $75 O $ 90 0 $ 85 $ 80
The following table shows the supply and demand schedules for computers in Sweden and Norway. Price Sweden Price Norway (Dollars) Quantity Supplied Quantity Demanded (Dollars) Quantity Supplied Quantity Demanded 0 0 1,200 0 1,800 5 200 1,000 5 1,600 10 400 800 10 1,400 15 600 600 15 0 1,200 20 800 400 20 200 1,000 25 1,000 200 25 400 800 30 1,200 0 30 600 600 35 1,400 35 800 400 40 1,600 40 1,000 200 45 1,800...
#1. The following table illustrates the demand and supply schedules for calculators in Sweden and Norway (measured in dollars). Price $0 O 1,200 5 10 400 15 Sweden Norway Quantity Supplied Quantity Demanded Quantity Supplied Quantity Demanded 1,800 200 1,000 1,600 800 1,400 600 6000 1,200 800 200 1,000 1,000 200 400 800 1,200 600 L 600 1,400 - 800 400 1,600 1,000 200 1,800 1,200 20 400 25 30 35 40 45 We were unable to transcribe this image
This table indicates the US domestic demand and supply schedules for commercial jet airplanes. Suppose that the world price of a commercial jet airplane is $100 million. Price (millions) Quantity of Jets Demanded Quantity of Jets Supplied $120 100 1000 110 150 900 100 200 800 90 250 700 80 300 600 70 350 500 60 400 400 50 450 300 40 500 200 Without trade, how many commercial jet airplanes does the US produce, and at what price are...
Suppose we have the following market supply and demand schedules for bicycles: 1.1. Plot the supply curve and the demand curve for bicycles. 1.2. What is the equilibrium price of bicycles? 1.3. What is the equilibrium quantity of bicycles? 1.4. If the price of bicycles were $100. Is there a surplus or a shortage? How many units of surplus or shortage are there? Will this cause the price to rise or fall? 1.5. Ifthepriceofbicycleswere$400, is there a surplus or a...
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10、The table shows the demand and supply schedules for running shoes, what is the market equilibrium? If the price is $70 a pair, describe the situation in the market. Explain how market equilibrium is restored. If a rise in income increases the demand for running shoes by 100 pairs a day at each price, explain how the market adjusts to its new equilibrium. Quantity (dollarsdemanded upplied Price per pair) 70 Quantity (pairs per day) 1000 400 500...