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Suppose that the
Qd = 2000 - 400P
Qs = 1600P
(a) Find the
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- Assuming a supply function of Qs = 100+100p and a demand function of Qd = 700-50p and an equilibrium price of $4 with an equilibrium quantity of 500million gallons please answer the followingThe estimated monthly U.S. demand function for avocados isQ = 144 − 40p + 20pt where p is the price of avocados and pt is the price of tomatoes, a substitute for avocados. The estmated supply function is Q = 58 + 15p − 20pf where the price of fertilizer, pf , is $0.40, so the supply function can be written asQ = 50 + 15p. The initial price of tomatoes is $0.80 per lb. Using algebra, determine the initial equilibrium price and quantity of avocados, and then determine how price and quantity change if the price of tomatoes increases by $0.55 to $1.35A manufacturing business can supply 60 plasma TV sets per month at a price of $280 per set, or sell 140 plasma TV sets if the price is $370 per set. A group of retailers will buy 80 plasma TV’s if the price is $350 per pair and 120 plasma TV’s if the price is $300 per set. Given that the demand and supply functions must be linear: Find the linear equations representing both demand and supply Find the point of market equilibrium (number of TVs: q) and the price per unit (p) at that point.
- A group of retailers will buy 88 televisions from a wholesaler if the price is $300 and 128 if the price is $250. The wholesaler is willing to supply 72 if the price is $225 and 152 if the price is $315. Assuming the resulting supply and demand functions are linear, find the supply equation, the demand equation, and the equilibrium point for the market.A toy company is trying to determine the optimal price for their weekly supply to meet the demand for a toy they are about to release. They estimate that the supply function follows p= 0.006q^2 + 0.14q+ 8.62 and the demand function follows p= -1.25q+ 65 , where p is the price of the toy (in dollars) and q is the weekly quantity of the toy (in hundreds). If the company tries to sell the toy for $24, will there be a shortage or surplus of toys each week?The demand function is given as:- 3Q - 15 = P And the supply function is 30 - 6Q = P Calculate the equilibrium quantity
- If the demand function for a commodity is ?2+4?=1600p2+4q=1600 and the supply function is given by the equation 300−?2+2?=0300−p2+2q=0, find the equilibrium quantity and equilibrium price.the market demand curve for chocalates is given by the equation Qd=500-4P, while market supply curve for chocalates is described by the equation Qs=-100+2P where P is the price. Find the equilibrium price of chocaltes?Retailers will buy 45 Wi-Fi routers from a wholesaler if the price is $10 each but only 20 if the price is $85. The wholesaler will supply 56 routers at $46 each and 70 at $50 each. Assuming that the supply and demand functions are linear, find the market equilibrium point. (q, p)
- Suppose that the cost of crude oil decreases from $25 to $20 for each barrel of heating oil produced. Assuming that the rest of the determinants of supply and demand for heating oil remain equal to their initial values, the market will eventually reach a new equilibrium price of per barrel.The supply function for Gizmos is given by the equation P=0.66⋅Q+11P=0.66⋅Q+11, and the demand function is given by the equation P=13−0.34⋅QP=13-0.34⋅Q. Find the market equilibrium price for Gizmos.Suppose the market demand curve for cranberry is given by the equation Qd=500-4P, while market supply curve for cranberry is described by the equation Qs=-100+2P where P is the price. Find equilibrium price.
