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- only typed answer Q1 Assume that the demand curve D(p) given below is the market demand for widgets: Q=D(p)=1291−14pQ=D(p)=1291-14p, p > 0 Let the market supply of widgets be given by: Q=S(p)=−5+10pQ=S(p)=-5+10p, p > 0 where p is the price and Q is the quantity. The functions D(p) and S(p) give the number of widgets demanded and supplied at a given price. What is the equilibrium price? Please round your answer to the nearest hundredth. What is the equilibrium quantity? Please round your answer to the nearest integer. What is the total revenue at equilibrium? Please round your answer to the nearest integer.Alvin’s demand for bottled water is given by QdA = 8−0.5P. Betty’s demand function is QdB = 6 − P. Calculate Alvin and Betty’s marginal and total willingness to pay for four bottles of water and illustrate graphically. Compute the aggregate demand for bottled water, assuming Alvin and Betty are the only consumers. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.what would be the average price paid by demander B?
- Consider the perfectly competitive market for gasoline. The aggregate demand forgasoline is D (p) = 100 - p. What is the choke price or the or the highest price possible in the given demand function?Assume quantities need not be integers. Demand in a competitive market is Qd(P)=120 – (4/10)*P. If 20 units are transacted, what is the lowest marginal benefit (i.e., MWTP) at which an item is purchased? Round to two decimal places and do not enter a currency symbol. If your answer is $1.125, enter 1.13.You normally take the bus to school and it costs you $2 roundtrip. Let's say the bus line was eliminated and now you have to drive to school at a roundtrip cost of $8. Your demand for trips (Q) to school as a function of the roundtrip cost of a trip (P) is: D: Q = 20 - 2P What would you be willing to pay for the reintroduction of the bus line?
- The aggregate demand for the mushroom pasta for each day is given by q = 200 - 4p, where p is the price of the pasta. If the price is $20, then the market revenue isAt the market price in part a, the net gain to consumers when 10,000 units are purch ased is $__________. d) At the market price in part a, the net gain to producers when they supply 10,000 units is $__________.Economics Suppose that the market demand and supply curves for doughnuts (good X) are given by QD = 50 – 40P + 0.03I + 10PY and QS = -150 + 60P – 10W, where P is price of X, I is the average consumer income, PY is the price of cinnamon pretzels (good Y), and W is the wage for workers producing good X. I = $5,000 Py = $5, W = $10 What is the cross-price elasticity of demand at the market equilibrium? What can you say about the relation between doughnuts and cinnamon pretzels?
- The manager of a bicycle shop has found that, at a price (in Rands) of p(x) = 150 –x/4 per bicycle, x bicycles will be sold . Answer the following:• Find an expression for the total revenue from the sale of x bicycles. (Hint: Revenue = Demand *Price. )• Find the expression for the quantity to be sold q if the demand function demand is given byp = -10q + 3200• What is the number of bicycles x, sold if the price is R40Min. PxX+PyY s.to U*=104=XY (d, e, f from your school number) a-) Obtain Hicksian demand functions. b-) Create the expenditure function. c-) Using Shepard's lemma, show that you are able to reach the demands you got in part a.he cost of ingredients for a turkey sandwich at The Pit Room is $5, and the daily demand function for this sandwich is d(p) =1200 - 100p. What price should the seller charge to maximize its daily total contribution? Round your final answer to two decimal places.
