Question

Demand: P = 50 - 4Q Supply: P = 2 + 2Q what is the equilibrium...

Demand: P = 50 - 4Q Supply: P = 2 + 2Q

what is the equilibrium price and quantity

0 0
Add a comment Improve this question Transcribed image text
Know the answer?
Add Answer to:
Demand: P = 50 - 4Q Supply: P = 2 + 2Q what is the equilibrium...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

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
  • 1. Demand curve: P = $100 – 2Q Supply curve: P = $10 + 4Q If...

    1. Demand curve: P = $100 – 2Q Supply curve: P = $10 + 4Q If a tax of $30 per unit is imposed in this market, the dollar price paid by buyers will be: (show the math) a. 10    b. 20    c. 40    d. 60    e. 80

  • the demand is P = 185 – 2Q & supply is P = 25 + 2Q....

    the demand is P = 185 – 2Q & supply is P = 25 + 2Q. Equilibrium price = $105                      Equilibrium Quantity = 40 To enable more citizens to buy more gasoline, the Government decides to give gasoline producers a subsidy of $12 per unit. What price will consumer’s pay and how much gasoline will they buy? How much will the Government spend on the subsidy?  What will be the change in producer surplus?

  • Demand curve: P = 30 – Q Supply curve: P = 2Q Calculate the equilibrium quantity...

    Demand curve: P = 30 – Q Supply curve: P = 2Q Calculate the equilibrium quantity and price.

  • 2. Suppose the demand and supply of a good are given as P = 80 -...

    2. Suppose the demand and supply of a good are given as P = 80 - 2Q and P=20 + 4Q (a) Calculate the equilibrium price and quantity, algebraically. (b) Suppose a per unit tax of $12.00 is levied on sellers, show graphically the effect of this per unit tax on the equilibrium price and quantity if any in the market.

  • Q5 (6 pts). Given the following linear supply and demand in standard form Supply:-2P + 4Q...

    Q5 (6 pts). Given the following linear supply and demand in standard form Supply:-2P + 4Q =-12 Demand: 5P +200 150 Find the inverse linear demand and supply [Price as a function of Quantity Q f(P)], the equilibrium price [P*] and quantity [Q1. Graph the demand, supply and the equilibrium point (P* and Q) in the supply-demand diagram Choose the correct answer (Showing the appropriate steps) a) Supply: P 20 6, Demand: P40 30, P 14,Q4 b) Supply: P-4-3, D...

  • Consider a market where demand is equal to D = P= 30 - 2Q, and supply...

    Consider a market where demand is equal to D = P= 30 - 2Q, and supply is equal to S= P=5+ .05Q,... D = demand, S = supply, P = price, and Q = quantity. Calculate the following values for this market: Equilibrium price Equilibrium quantity Consumer surplus Producer surplus

  • The supply and demand equations for the production of phone cases are given below. The variables...

    The supply and demand equations for the production of phone cases are given below. The variables p and q represent price (in dollars) and quantity, respectively. Determine the quantity of phone cases when the market is in equilibrium. The supply and demand equations for the production of phone cases are given below. The variables p and q represent price (in dollars) and quantity, respectively. Determine the quantity of phone cases when the market is in equilibrium. Supply: p = −2q...

  • In a market demand and supply equations are: The demand curve is given as: P =...

    In a market demand and supply equations are: The demand curve is given as: P = 50 - 3Q The supply curve is given as: P = 10 + 2Q Assuming a perfectly competitive market: 1) What is the equilibrium price and quantity?

  • Demand curve: P = 30 – Q Supply curve: P = 2Q a) Calculate the equilibrium...

    Demand curve: P = 30 – Q Supply curve: P = 2Q a) Calculate the equilibrium quantity and price. b) Draw the curves. c) Suppose that the government set the price at 25 dollars. Calculate the shortage or surplus that is created on the market. W4 exercise Use the demand and supply functions from ‘W3 exercise’ and calculate the consumer surplus and the producer surplus. W5 exercise Suppose that the demand schedule for electric bicycles is as follows: a) Use...

  • Find the market equilibrium point for the following demand and supply functions. Demand:     p = −2q...

    Find the market equilibrium point for the following demand and supply functions. Demand:     p = −2q + 290 Supply:     p = 8q + 2 (q, p) = Demand:     2p = −q + 88 Supply: 3p − q = 72 (q, p) = Demand:     p = −5q + 220 Supply:     p = 16q + 10

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