Annual demand and supply for a Company is given by: QD = 19500– 100P , and Qs=-5000 + 100P 1. Find the equilibrium price and quantity? 2. If price are $100, 110, 130, 180 calculate the value of surplus or shortage in supply at each given price level
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- Market research has revealed the following information about the market for lamps: The demand schedule can be represented by the equation QD = 24 - 3P, where OD is the quantity demanded and P is the price. The supply schedule can be represented by the equation Os-4 + 2P, where Qs is the quantity supplied. (Show all your work). a) Sketch the demand and supply curves, carefully labeling your intercepts. b)Calculate the equilibrium price (P*) and quantity (Q*) in the market for lamps. c) If the market price was artificially set at P-$6, what kind of imbalance would this create in the market (surplus or shortage)? Of exactly how much? d) If the market price was artificially set at P-$2, what kind of imbalance would this create in the market (surplus or shortage)? Of exactly how much?Respond to the question with a concise and accurate answer, along with a clear explanation and step-by-step solution, or risk receiving a downvote. Suppose demand and supply are given by Qd = 50 - P and Qs = 1.0P - 20. a. What are the equilibrium quantity and price in this market? Equilibrium quantity: 15 Equilibrium price: $ b. Determine the quantity demanded, the quantity supplied, and the magnitude of the surplus if a price floor of $42 is imposed in this market. Quantity demanded: Quantity supplied: Surplus: c. Determine the quantity demanded, the quantity supplied, and the magnitude of the shortage if a price ceiling of $28 is imposed in the market. Also, determine the full economic price paid by consumers. Quantity demanded: Quantity supplied: Shortage: Full economic price: $Annual demand and supply for a Company is given by: QD = 19500 – 100P , and Qs=-5000 + 100P %3D 1.Find the equilibrium price and quantity? 2. If price are $100, 110, 130, 180 calculate the value of surplus or shortage in supply at each given price level
- Suppose demand and supply are given by Qd = 60 - P and Qs = 1.0P - 10.a. What are the equilibrium quantity and price in this market?Equilibrium quantity: Equilibrium price: $ b. Determine the quantity demanded, the quantity supplied, and the magnitude of the surplus if a price floor of $50 is imposed in this market.Quantity demanded: Quantity supplied: Surplus: c. Determine the quantity demanded, the quantity supplied, and the magnitude of the shortage if a price ceiling of $30 is imposed in the market. Also, determine the full economic price paid by consumers.Quantity demanded: Quantity supplied: Shortage: Full economic price: $Fatima shop demand and supply function of a particular goods is given as: Qs=2P, Qd=140-5p 1. find equilibrum price 2. find equibrum quantity 3. Assume price has value from 5, 10, 15, 20, 25 show graphically the marketequibrum pointA certain product has supply and demand functions given by p=40q+400 and p=5400-60q respectively. (a) If the price p is $1200, how many units q are supplied and how many are demanded? (b) What price gives market equilibrium, and how many units are demanded and supplied at this price? (A) When the price p is $1200, there are ____ units supplied and ____ units demanded. (Simplify your answer) (B) The market equilibrium price is $___ and ___ units are supplied and demanded. (Simplofy your answer)
- Suppose demand and supply are given by Qd = 40 − P and Qs = 1.0P − 10. Determine the quantity demanded, the quantity supplied, and the magnitude of the shortage if a price ceiling of $22 is imposed in the market. Also, determine the full economic price paid by consumers.Quantity demanded: Quantity supplied: Shortage: Full economic price:Consider the market for accountants' services. Using standard notions of demand and supply, for each of the following scenarios, identify whether it could be illustrated by shift of the demand or supply curve (left or right?) and explain how the equilibrium price and quantity would change if the following things happen, ceteris paribus; a. in reaction to corporate financial scandals in the USA, the UK government forces all companies to impose stricter financial and accounting controls. b. The UK Chartered Accountants decides to limit the number of accountants entering the market by making the Board exam particularly difficult. c. More students at university graduate with accounting degrees because they believe that accounting earn higher salaries than anyone else.Use the demand and supply (D&S) model to demonstrate the change in the market conditions from Q3 2020 to Q3 2021 for the new car market and used car market in the US. Use two separate D&S diagrams corresponding to the two markets, and carefully label the curves and clearly indicate all equilibrium prices and quantities. For your price points, use values based on actual data where possible. Use hypothetical values (rough guesses) relying on intuition for quantities. What do you think the price elasticity of demand (PED) might look like for new or used cars in Q3 2021 compared to Q2 2020? In your answer, discuss a key determinant of PED.
- Consumers’ and Producers’ Surplus Find the consumers’ surplus at a price level of = $15 for the price demand equation p = D(x) = (7500 - 30x)/(300-x). Graph the price demand equation and the price level equation p = $15. What region represents the consumers’ surplus? Please explain each step in the solving process to help understand. Thank you. 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.Suppose demand and supply are given by Qd = 60 − P and Qs = 1.0P − 20.a. What are the equilibrium quantity and price in this market?Equilibrium quantity: Equilibrium price: $ b. Determine the quantity demanded, the quantity supplied, and the magnitude of the surplus if a price floor of $50 is imposed in this market.Quantity demanded: Quantity supplied: Surplus: c. Determine the quantity demanded, the quantity supplied, and the magnitude of the shortage if a price ceiling of $32 is imposed in the market. Also, determine the full economic price paid by consumers.Quantity demanded: Quantity supplied: Shortage: Full economic price:The following relations describe monthly demand and supply for a computer support service to small businesses: Qd=3000-10P Qs=-1000+10P whrer Q is the number of businesses that need services and P is the monthly fee, in dollars. a. at what average monthly fee would demand equal zero? b. at what average monthly fee would supply equal zero? c. plot the supply and demand curves. d. what is the equilibrium price/output level? e. Suppose demand increases and leads to a new demand curve: Qd = 3500 - 10P f. Suppose new suppliers enter the market due to the increase in demand so the new suply curve is Q=-500+10P. What are the new equilibrium price and equilibrium quantity? g. Show changes on the graph.