Q1... Assume that you have the following equations: 4P+4Q=16 2P-Q=2 The equilibrium price is: a. P=5 b. P=6 c. P=2 d. P=4 e. None of the above Q2 ... Find and classify the stationary points of y=In 2x - 2x a. maximum at (-1,0.5) b. maximum at (0.5,-1) c. minimum at (0.5 ، -1) d. minimum at (-1,0.5)
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Q1... Assume that you have the following equations: 4P+4Q=16 2P-Q=2 The
Q2 ... Find and classify the stationary points of y=In 2x - 2x a. maximum at (-1,0.5) b. maximum at (0.5,-1) c. minimum at (0.5 ، -1) d. minimum at (-1,0.5)
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- Suppose you are asked to analyze the soft drink market. Suppose soft drinks consist of, among other things, corn sweeteners. Further suppose that there is a drought in major corn-growing regions this year. All other things being equal, you conclude that the equilibrium price of soft drinks will _________ and the equilibrium quantity exchanged will _________. INCREASE/DECREASE?Assuming the demand changed from D1 to D2, and we examine the adjustment process from an horizontal perspective, which of the following statements about the sequence of changes in the this adjustment process is TRUE? (A step in the sequence could have more than one event.) The initial equilibrium is at P=$15, and Q=116 First, the price of the good increases. Third, as the price is increasing, quantity supplied increases. Second the quantity demanded increases to 16, creating a market shortage. The initial equilibrium is at P=$15 and Q=12 Fourth, a new equilibrium is established at P=18 and Q=16. First, the quantity demanded increases from 12 to 20, creating a market surplus. First, the quantity demanded increases from 12 to 20, creating a market shortage. Second, as they face a shortage of the good buyers will bid up its price. Third, as the price is increasing, quantity demanded will…Suppose a firm has estimated the price elasticities of demand for the two goods it offers in its store (good Y and Z). The price elasticities of demand for good Y and Z are 0.5 and 2.5 respectively. How would you characterize the two goods in terms of consumer’s preferences? Which one of them would face higher demand during economic recession?
- The market supply and demand equations for a given product are given by the expressions QD=200-50p QS=-40+30P a. Find the equilibrium price and Quantity b. Suppose that there is an increase in demand and supply to QD=300-50P QS=-20+30P Respectively, find the new equilibrium point. In addition to this, show the impact of change in demand and supply using axing graph.The demand for hamburgers is given by Qd=10-p and the supply is Qs=4p-10, where pd and ps are, respectively the price paid by demanders and the price received by suppliers. A: Draw the demand and supply functions. What is the price-elasticity of demand? What is the price-elasticity of supply? B: Find the equilibrium quantity and price, and show them on the graph. C: Suppose due to the rising health awareness the demand decreases to Q d=5-p. Find the new equilibrium prices and quantity, and show them on the graph. D: Suppose that the demand and supply are as before, i.e. Qd=10-p and Qs=4p-10, but now the government imposes a quantity tax on the suppler at the rate of 1 per unit of the quantity. What quantity will be sold and what price? E: In part d), what is the total amount of tax collected by the government? How this tax amount is divided between the demanders and supplier? Who pays more and why? Explain1. Consider a demand of the form QD = 2P + 16 and a supply curve of the form Qs = P 5. Plot these curves and be sure to P on the vertical and Q on the horizontal axis. Find the equilibrium price and quantity. 2.Consider the function Y = pXZ where X > 0 and Z > 0. Draw the contour lines (in the positive quadrant) for this function for Y = 4, Y = 5, and Y = 10. What do we call the shape of these contour lines? Where does the line 20X + 10Z = 200 intersect with the contour lineY = 50?
- Given that the demand is Qd=90-3P and supply is Qs=P-10, compute the new equilibrium price and quantity in the market and indicate values on the graphGiven the two functions below: y=10e-0.5q and y=7ln5q Draw the two functions for the interval -1<q<3. From the diagram drawn identify which of the two functions represents the demand curve, supply curve and name the intercept(s) formed. Economically, it is said that equilibrium is established when the demand curve intercepts the supply curve. Hence or otherwise, determine the equilibritum price and quantity.How shifts in demand and supply affect equilibrium Consider the market for pens. Suppose that the number of students with an allergy to pencil erasers increases, causing more students to switch from pencils to pens in school. Moreover, the price of plastic, an important input in pen production, has dropped considerably. On the following graph, labeled Scenario 1, indicate the effect these two events have on the demand for and supply of pens. Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just drag it a little farther. Scenario 1DemandSupply012345678910109876543210PRICE (Dollars per pen)QUANTITY (Millions of pens)Demand Supply Next, complete the following graph, labeled Scenario 2, by shifting the supply and demand curves in the same way that you did on the Scenario 1 graph. Scenario 2DemandSupply012345678910109876543210PRICE…
- Assume the Supply of Kidneys is expressed as: Qs = 800 +.2P Assume the Demand for Kidneys is expressed as: Qd = 16,000 - .2P Due to the 1984 act prohibiting the purchase and sale of organs for transplant, supply will be limited to the number of kidneys individuals will donate (the number of kidneys donated when the price = 0) Graphically, show the supply and demand for kidneys before prohibition. Solve algebraically for the equilibrium price and quantity. How many kidneys will be available for transparent given the prohibition of selling a kidney in the market? Draw in what the new supply curve will look like. Will a shortage or surplus of kidneys result? What happens to the opportunity cost of acquiring a kidney?The demand for rice is given by Q d=20-p and the supply is Q s=3p-20. a. Draw the demand and supply functions. Find the equilibrium quantity and price, and show them on the graph. b. Suppose due to drought the supply changes to 3p-30. The supply remains the same. Draw the new supply function on the same graph, and find the new equilibrium price and quantity. Has the demand increased or decreased? How did the equilibrium price and quantity change compared to part a.?Given the following situations, determine the effect on Qd or D or Qs or S for electric cars. Write ↑ Qd, ↓ Qd, ↑ D, ↓ D, ↑ Qs, ↓ Qs, ↑ S, ↓ S or no effect. For each answer, graphically illustrate using the corresponding demand curve or supply curve. Show graphical table. Label properly: Assume that this is a normal good, the income of the consumers increased. Reduction of charging stations and infrastructures for electric vehicles. Stricter regulations or compliance requirements for electric vehicle production.