given the following information Qd=240 -5p and Qs= P Where Qd is the quantity demanded and Qs is the quantity supplied and P is the price, Calculate the equilibrium price, equilibrium quantity, consumer surplus and production surplus

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A: The equilibrium price and quantity of a good are determined by the forces of demand and supply. The…

Q: Determine the equilibrium price and quantity of the above market when j=100. Qd= Qs given the…

A: Given,   Qd=400-2P+4j   Qs=100+3P ⇒    P=Q-1003    &  j=100    ∴Qd=400-2P+4 100      ⇒ Qd=800-2P…

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Q: Refer to the diagram. Q, Quantity Assuming equilibrium price P1, consumer surplus is represented by…

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A: Given, Q_D=200-20 P  Q_S=30+30P  Equilibrium price and quantity 200-20P=30+30P           170=50 P…

Q: Suppose that a market for tires is described by the following supply and demand equations: QS = –…

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Q: Suppose that the price in this market is the market price, P2. Which rectangles or triangles…

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Q: Suppose that you are the vice president of operations of a manufacturing firm that sells an…

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Q: Suppose the inverse market supply for good X is given by P,-15 + 5Qs and the inverse market demand…

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Q: Let Qd stand for the quantity demanded, Qs stand for the quantity supplied, and P stand for price.lf…

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