Consider the graph below. What is the slope of the supply curve? 8 7 Price ($) 5W32 L 1 A 0246 8 10 12 14 16 Quantity Multiple Choice O 1/2 B 2
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- Find the equilibrium price and quantity for the following markets : Qs = - 45 + 8P Qd = 125 – 2PDemand and supply in a market are described by the equations: Qd = 66 - 3P Qs = -4 + 2P Calculate the equilibriumQ46 China is the largest wheat producer in the world. Covid-19 has played havoc with the global wheat market. Suppose the price elasticity of demand for Chinese wheat flour is 0.20. If the price of Chinese wheat flour falls by 10 percent, we expect the the quantity demanded of Chinese wheat flour will increase by: Multiple Choice 20 percent and total expenditures on Chinese wheat flour will fall. more than the price of Chinese wheat bread. 20 percent and total expenditures on Chinese wheat flour will rise. 2 percent and total expenditures on Chinese wheat flour will rise. 2 percent and total expenditures on Chinese wheat flour bread will fall.
- Market equlibrium price for strawberries is 5 dollar per kg if demand increase why would not 5 dollar per kg be the equilibrium price anymore draw a diagramSubstitute the value of a in the first demand equation, to get308(-2)/102+b=15⇒-616/102+b=14⇒b=2044/102 Why in the solution above the 15 change to a 14 and when I calculate it using the 14 I only get 1022/51?Determine the equilibrium price and the quantity of goods traded if the market function of cooking oil is known Qd = 20,000-5P ; Qs = -5000 + 20 P. and also draw the curve!
- The city of Cedar Rapids has a large number of video poker arcades. The demand by patrons for the games (in thousands per week) is Qd = 180 - 4P and the supply is Qs = 2P - 30 where P is the price in cents charged to play a game. What is the equilibrium number (quantity) of games played? What is the equilibrium price? Draw a diagram depicting the equilibrium in this market.What is the conditional demand for input 1? Use cost function c(w1;w2; y) = w11/2w21/2y2Amy has sold 50 eggs for $12 and 70 are sold for $14. What is the conclusion in this price range:
- 1.5 Your firm, Content Friend, is similar to Happy Labourer, a Ghanaian firm that designs and manufactures artifacts and souvenirs. Your research analyst has estimated the demand function for your kente souvenirs is Qd = 33 - 4P If you set the price of a plush kente souvenir at $5, how many will consumers buy? If you increase the price of a plush kente souvenir by $1, how will this change the quantity that your customers buy?Refer to the graph shown. If this graph represents a competitive market, the equilibrium price and quantity will be: Multiple Choice $13.50 and 325, respectively. $7 and 325, respectively. $10 and 500, respectively. $7 and 750, respectively.An economist has estimated that the demand function for cars is approximately D = −400P + 4I where I is the mean household income. The Supply of cars is estimated to be S = 2p (a) What is the equilibrium price of cars (it will be a function of I)?(b) How does the equilibrium price of cars change when I changes?
