Figure 2-1 price 20 18 16 14 12 10 6. 10 20 30 40 s0 60 70 80 quaxtity Referring to Figure 2-1, what is the market equilibrium price? (number only, no $)
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- Given the following information Price of burger(Pb)=P50 Price of spaghetti (Ps)= P75 MU of burger(MUb)=180 utils MU of spaghetti(MUs)= 225 utils Required: A. Compute for the consumers equilibrium B. What is the decision of the consumers ? Will he buy burger or spaghetti ? Justify your answr.Qd= 65 – 10P Qs= -35 + 15P How do you interpret market equilibrium: (i) if P= Rs.6? (ii) if P=2? Show on the Demand-Supply diagram in (a), the graphical interpretation of your answer of (b).Assume that Demand is given as Qd = 40-0.5P, if P= 0, 2, 4, 6i. Draw the demand scheduleii. What is the maximum quantity consumers being likely to buy?iii. Sketch the above equation.iv. If the market determined price is 10, determine the size of consumer surplus
- In the supply equation; [Qdx=Px+1600], if Qdx=5688, then the price of the product is. Select one: a. 9100800.00 b. 4088.00 c. -4088.00 d. 7288.00Suppose seller decreas price by 10% then hiw total revene will affect when ed =1.5 or ed=0.5 or ed=1Market Equilibrium, disequilibrium, Floor and Ceiling Prices, CS, PS, DWLBased on the following functions, compute for the:Demand: P = 1200 – 4QSupply : P = 655 + 2Q Draw the graph for items (2-3) Determine the amount of CS (Red) Determine the amount of PS (Blue) What is the Total Benefit?
- Find the equilibrium price and quantity for two complementary goods slacks and jackets using elimination method. a) Qd=410-5Ps-2Pj Qs=-60+3Ps b) Qd=295-Ps-3Pj Qs=-120+2PjGiven: QS = 140,000 + 36p QD = 200,000 – 24p 1. Compute the price if there is a surplus of 10,000 units.Market Equilibrium, disequilibrium, Floor and Ceiling Prices, CS, PS, DWLBased on the following functions, compute for the:Demand: P = 1200 – 4QSupply : P = 655 + 2Q Determine the amount of CS (Red) Determine the amount of PS (Blue) What is the Total Benefit?
- Time remaining:00 :09 :39EconomicsUse the following to answer questions (29) - (31):In the town of “One Horse” there is one movie theater. Two groups of consumers, adults (A) andchildren (C), attend this theater. Suppose the demand for movies by adults is given by:QA = 50 - 0.50PA, where PAis price ofan adultmovie ticket(in cents)and QAis the numberofmovie tickets sold to adults atthe theater. Suppose the demand for movies by children is given by:QC = 20 - 0.50PC,where PCispriceofa children’s movie ticket(in cents)and QCis the numberofmovie tickets sold tochildren atthe theater. Also, imagine totalcostis fixed at$450, thus makingmarginalcostofprovidingonemore movie ticket to either an adult or a child constant at zero.[29]Ifthe movie theateris able to price discriminate amongits two groups ofconsumers, then itshouldcharge a higher price to group A.A.TrueB.False[30]Ifthemovie theateris able to price discriminate amongits two groups ofconsumers, then itsmaximum profit is closest in value…Qd= 100 – 0.25P Qs= -20 + P Find equilibrium quantity and priceSolve from (b) subpart Answer of part (a) Equlibrim price (p) = 111 Equilibrium quality (q)=1810