ZuoTi.Pro
Question

The market demand and supply function for pizza in Oldtown were: QD = 12,500 – 900P...

  1. The market demand and supply function for pizza in Oldtown were:
    QD = 12,500 – 900P
    QS = -2000 + 1100P    Determine algebraically the equilibrium price and quantity.
business   economics   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

The page numbers are mentioned at the top of each page.

0 0
Add a comment
Know the answer?
Add Answer to:
The market demand and supply function for pizza in Oldtown were: QD = 12,500 – 900P...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • The market for iced tea is characterized by the following supply and demand functions: Supply: Qs=50+8p Demand: QD=120...

    The market for iced tea is characterized by the following supply and demand functions: Supply: Qs=50+8p Demand: QD=120−6p , where Qs stands for quantity supplied (number of bottles), QD stands for quantity demanded (number of bottles), and p stands for price (per bottle). Suppose that the current price per bottle in the market for iced tea is $6. A) At the price of $6 per bottle in the market for iced tea, sellers would want to sell     bottles. B) At the...

  • Suppose the market demand and supply curves are represented by the following equations: Qd = 100...

    Suppose the market demand and supply curves are represented by the following equations: Qd = 100 – 0.25P Qs = 40 + 0.25P PART A I already did: a.   Determine the equilibrium price and quantity. (Show your calculations) [2 marks] Price can be calculated QD=QS 100- 0.25P = 40+ 0.25P Rewritten as: 60 = 0.5 Price= 120 Quantity can be calculated: QD = 100 – 0.25 (120) = 70 B) illustrate these curves on a graph, labelling these curves, intercepts...

  • Managerial economics

    If the market demand and supply functions for pizza in Sahiwal wereQd = 10,000 – 1,000PQs = -2,000 + 1,000P(A)   Determine the algebraically equilibrium price and quantity of Pizza and (B)    Plot the market demand and supply curves and label equilibrium point E and draw demand curve faced by Pizza Hutt in Sahiwal on the assumption that the market is perfectly competitive.Show also the marginal revenue curve on the same figure.      

  • C) Suppose that the demand and supply for pizza on a college campus is given by Demand: Qd 20,000...

    c) Suppose that the demand and supply for pizza on a college campus is given by Demand: Qd 20,000 1,000P Supply: Qs 2,000P - 10,000 Where Qd is demand, Qs is supply and P is the price per pizza in dollars. Please put your numerical answers to each part of this question in the table below. Write your explanation in your exam book. I book. a) Solve for the equilibrium price and quantity, consumer and producer surplus, and DWL. Explain...

  • The demand and supply curves for the market are given by: Demand: Qd = 16000 –...

    The demand and supply curves for the market are given by: Demand: Qd = 16000 – 24P Supply: Qs = 2000 + 32P A maximum price of $200 is proposed. (ii) Calculate the reservation price for the seller (to the nearest whole number)

  • 1. The market for a product is defined by the following demand and supply curves:                             &nbs

    1. The market for a product is defined by the following demand and supply curves:                                    Qd=20-7p                                    Qs=-4+5P where Qd and Qs are the quantities demanded and supplied, and P is the price of the product in £s. (i) Draw (accurately) a diagram to depict the market for this product and determine the equilibrium price and quantity. (ii) Solve for the equilibrium market price and quantity mathematically (remember that, in equilibrium, Qd=Qs).

  • The market demand function for corn is Qd = 21 - 7P The market supply function...

    The market demand function for corn is Qd = 21 - 7P The market supply function is QS = 5P - 6 both quantities measured in billions of bushels per year. Instructions: Round all quantities to the nearest whole number and prices to 2 decimal places. a. What is consumer surplus at the competitive market equilibrium? $. b. What is producer surplus at the competitive market equilibrium? $. c. What is aggregate surplus at this equilibrium?

  • The market for rice in a country has the following demand and supply functions: Demand function:                     ...

    The market for rice in a country has the following demand and supply functions: Demand function:                      P = 6 – 0.5QD Supply function:         P = 2 + 0.5QS Where QD is the quantity demanded, QS is the quantity supplied and P is the unit price of rice. Determine the equilibrium price, quantity, consumer surplus and producer surplus in the rice market. Illustrate your answers with a suitable rice market diagram. (8 marks) To help the rice farmers, the government has...

  • A market is described by the following supply and demand curves: Qs = 3P Qd =...

    A market is described by the following supply and demand curves: Qs = 3P Qd = 400-P The equilibrium price is S and the equilibrium quantity is Suppose the government imposes a price ceiling of $80. This price ceiling is , and the market price will be supplied will be . and the quantity demanded will be . Therefore, a price calling of $60 will result in the quantity the quantity Suppose the government imposes a price floor of $80....

  • The market for pizza has the following demand and supply schedules:

    The market for pizza has the following demand and supply schedules:  a. Graph the demand and supply curves. What are the equilibrium price and quantity b. Ifthe actual price in this market were above the equilibrium price, what would c. If the actual price in this market were below the equilibrium price, what would in this market? drive the market toward the equilibrium? drive the market toward the equilibrium?

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT