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1. The demand and supply equations of a good are given by 4P = -Qd + 240, 5P Qs + 30. Detemine the equilibrium price and quantity. (p = 30, q = 120) %3D 2. The demand and supply functions of a good are given by P = -Qd + 125, 2P = 3Qs + 30. Determine the equilibrium price and quantity. Determine ako the effect on the market equilibrium if the govemment decides to impose a fixed tax of GHC5 on each good Who pays the tax? (p = 81, q = 44, then p = 83, q = 42) 3. If fixed costs are 18, variable costs per unit are 4, and the demand function is P = 24 - 2Q. Obtain an expression for t in terms of Q and hence sketch a graph of 7 against Q. a) For what values of Q does the fim break even? (q = 1 or 9) b) What is the ma ximum profi? (n = 32 at q = 5) 4. Given the supply and de mand functions

1. The demand and supply equations of a good are given by 4P = -Qd + 240, 5P Qs + 30. Detemine the equilibrium price and quantity. (p = 30, q = 120) %3D 2. The demand and supply functions of a good are given by P = -Qd + 125, 2P = 3Qs + 30. Determine the equilibrium price and quantity. Determine ako the effect on the market equilibrium if the govemment decides to impose a fixed tax of GHC5 on each good Who pays the tax? (p = 81, q = 44, then p = 83, q = 42) 3. If fixed costs are 18, variable costs per unit are 4, and the demand function is P = 24 - 2Q. Obtain an expression for t in terms of Q and hence sketch a graph of 7 against Q. a) For what values of Q does the fim break even? (q = 1 or 9) b) What is the ma ximum profi? (n = 32 at q = 5) 4. Given the supply and de mand functions

College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter6: Linear Systems
Section6.CR: Chapter Review
Problem 70E: A company manufactures two fertilizers, x and y. Each 50-pound bag of fertilizer requires three...
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1. The demand and supply equations of a good are given by 4P = -Qd + 240, 5P = Qs + 30. Detemine the equilibrium price and quantity. (p = 30, q = 120) -Qd + 125, 2P = 2. The demand and supply functions of a good are given by P = 3Qs + 30. Determine the equilibrium price and quantity. Determine ako the effect on the market equilibrium if the govemment decides to impose a fixed tax of GHC5 on each good Who pays the tax? (p = 81, q = 44, then p = 83, q = 42) 3. If fixed costs are 18, variable costs per unit are 4, and the demand function is P = 24 - 2Q. Obtain an expression for n in terms of Q and hence sketch a graph of n against Q. a) For what values of Q does the fim break even? (q = 1 or 9) b) What is the ma ximum profit? (n = 32 at q = 5) 4. Given the supply and demand functions P = Q? + 12Q, + 32, P = -Q - 4Qa + 200, %3D Calculate the equilibrium price and quantity. (p = 140, q = 6)
Transcribed Image Text:1. The demand and supply equations of a good are given by 4P = -Qd + 240, 5P = Qs + 30. Detemine the equilibrium price and quantity. (p = 30, q = 120) -Qd + 125, 2P = 2. The demand and supply functions of a good are given by P = 3Qs + 30. Determine the equilibrium price and quantity. Determine ako the effect on the market equilibrium if the govemment decides to impose a fixed tax of GHC5 on each good Who pays the tax? (p = 81, q = 44, then p = 83, q = 42) 3. If fixed costs are 18, variable costs per unit are 4, and the demand function is P = 24 - 2Q. Obtain an expression for n in terms of Q and hence sketch a graph of n against Q. a) For what values of Q does the fim break even? (q = 1 or 9) b) What is the ma ximum profit? (n = 32 at q = 5) 4. Given the supply and demand functions P = Q? + 12Q, + 32, P = -Q - 4Qa + 200, %3D Calculate the equilibrium price and quantity. (p = 140, q = 6)
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