Market Equilibrium A retail chain will buy 900 cordless phones if the price is $10 each and 400 if theprice is $60. A wholesaler will supply 700 phonesat $30 each and 1400 at $50 each. Assuming that thesupply and demand functions are linear, find the market equilibrium point and explain what it means.
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price is $60. A wholesaler will supply 700 phones
at $30 each and 1400 at $50 each. Assuming that the
supply and
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- Market Equilibrium A retail chain will buy 800 televisions if the price is $350 each and 1200 if the priceis $300. A wholesaler will supply 700 of these televisions at $280 each and 1400 at $385 each. Assumingthat the supply and demand functions are linear, findthe market equilibrium point and explain what itmeans.K Given the input-output matrix below, find the output matrix if final demand changes to 400 for water, 180 for electric power, and 700 for agriculture. Industry: Water Electric Power Agriculture Other Water 120 120 240 720 The output matrix is X = (Round to two decimal places as needed.) Industry Electric Power 400 200 100 300 8 Agriculture Final Demand 180 240 120 60 260 170 500Plot the following hypothetical demand schedule of beef in the market. PARTICULARS PRICE OF BEEF (PER KILO) QUANTITY DEMANDED (IN KILOS) A P 150.00 90 B P 140.00 100 C P 100.00 130 D P 75.00 150 E P 60.00 170 F P 40.00 200
- Hi, the question is Doug William, the owner of a corner store, estimates that the supply and demand for a specialized energy drinkcould be described by the following equationsD : q = −25p + 345, S : q = 50 p − 330 ,where p represents the price in dollars per case (each case contains 12 bottles), and q represents the number of cases sold each week. I want you to help me with how to... Set the problem in Excel, and use Goal Seek to confirm your answers in partsGreen et al. (2005) estmate the supply and demand curves for Californa processod tomatoes. The supply function is: \[ \ln \left(Q_{s}\right)=0.200+0.550 \ln (p) \] whereQis the quantify of processing tomatoes in milions of tons per year andpis the price in dollars per ton. The demand function is: \[ \ln \left(Q_{d}\right)=2600-0.200 \ln (p)+0.150 \ln \left(p_{1}\right) . \] wherep1is the price of tornato paste (which is what processing tomatoes are used to produce) in dollars per ton. Supposept=$119Determine how the equilerium price and quantity of processing tomatees change if the price of tomato pasise tails by16%. If the price of tomato paste fals by18%, then the equaborium price will by 5 (Enter a numene response using a real number rounded to two decimal places)A local store will buy 20 doorbell cameras from a supplier if the price is $77 each. If the price drops to $27 , then the store will buy 30 . The supplier is willing to sell 66 doorbell cameras for the price of $50.50 each, but only 49 at a price of $42.00 each. Find the supply and demand functions and the market equilibrium point. Assume both the supply and demand are linear. Use integers, fractions or decimals to describe the slopes and p-intercepts. A) What is the equation for the demand? p= B) What is the equation for the supply? p= c) What is the market equilibrium point?Explain in details
- Which factor that influences change in buying plan, other than price of good? Find [05] out market equilibrium price and quantity from the demand function: Q= 15-4p ands supply function: Q=-1+ 6p. Show it graphicallyJohnson's Household Products has a division that produces two types of toothpaste: a regular toothpaste and a whitening tooth paste. The demand equations that relate the prices, p and q (in dollars per thousand units), to the quantities demanded weekly, x and y (in units of a thousand), of the regular toothpaste and the whitening toothpaste are given by p=3000-20 x-10 yp=3000−20x−10y and q=4000-10 x-30 yq=4000−10x−30y respectively. The fixed cost attributed to the division is $20,000/week, and the cost for producing 1000 tubes of regular and 1000 tubes of whitening toothpaste is$400 and $500, respectively. a. What is the weekly total revenue function R(x, y)? b. What is the weekly total cost function C(x, y)? c. What is the weekly profit function P(x, y)? d. How many tubes of regular and whitening toothpaste should be produced weekly to maximize the division's profit? What is the maximum weekly profit?What are independent demand items? What two basic ordering systems are used for theseitems? What are dependent demand items? What system should be used to order these items?
- I need help with finding equilibrium point on this question? a retailer will buy 45 radios fom a wholesaler if the price is $10 each but only 20 if the price is $60. the wholesaler will supply 35 radios at $30 each and 70 radios at $50 each. assuming the supply and demand functions are linear, find the market equilibrium point. I started with using the equation for a line and moved on to demand equation, how do I find out the supply functions? Do I plug in the supply number as (P1,Q1) and (P2,Q2) and if they come out equal is that the equilibrium point or is there something I am missing?The demand function for roses is Q = 100-P and the supply function is Q = P+T , where T is the average monthly temperature. Show how the equilibrium price and quantity vary with temperature. Provide an algebraic expression and illustrate i with a graph. Interpret your results in words.Question 25 Economists say that a market where goods are not consumed by those valuing the goods most highly is O laissez-faire.. unequal. O inefficient. O rational. Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.Answer completely and accurate answer.Rest assured, you will receive an upvote if the answer is accura
