The market demand and supply for a good are given by the functions: QD = 200-8P, and QS = 2P-10 i) What is the seller’s reservation price for this good?
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- suppose the demand and supply functions for an item are givem by QX = 50-2P and QX= 10+3P a, represent the above function graphically b, find the equilibrium price and quantitySuppose that the demand for a good is described by the inverse demand function p = 10 - 3q and the supply of the good is given by the inverse supply function p = 2 + 2 q: Q: What price will the buyers pay (use one decimal point)? Pb= [x]The demand function for an item is given by d(x) = 100/ 0.01x 2 + 1 (20 ≤ x ≤ 50) where d(x) (measured in units of a thousand) is the quantity demanded per weak and x is the unit price in dollars. (a) Find the rate of change in demand with respect to price. (b) How fast is the demand changing at price equal to 30 (x = 30)?
- the demand function of a consumer is given as Qd=100-2p. if the demand changes to 100-4p, find the effect of this change on quantity demand at price 10 birrThe demand function for a truckload of firewood for college students in a small town is Qc = 400-p. It is sometimes convenient to rewrite a demand function with price on the left side. We refer to such a relationship as the inverse demand function. Therefore, the inverse dimand function for college student is p = 400 - Qc. The demand function for other town residents is Qr = 400 -2p. What is the inverse demand function for other town residents? At a price of $300,. will college students buy any firewood? What about town residents? At what price is the quantity demanded by other town residents zero? Draw the total demand curve, which sums the demand curves for college students and other residents?Suppose that the demand for a product is given by the following demand function; Q = 500 - 3P. If you set price at dollar 100 per unit how many unit will you sell?
- What is wrong with this statement? Demand refers to the willingness of buyers to purchase different quantities of a good at different prices during a specific time period.Suppose the demand function to be Qd=600-5P when Qd is the quantity demanded and P stands for price. Estimate the price at which demand would be zero.Imagine the tea market has a demand function of QDX = 10 – 2PX and a supply function of QSX = PX − 2, where PX is the price of the tea. Assuming the price is at equilibrium, calculate the equilibrium price (P*). P* = _________
- Suppose the demand function for a product is given by pq+p=5000 where p is price in dollars and q is the number of units sold. If the price is $50 and increasing by $2 per week, how is the quantity sold changing?If the supply function for a commodity is p = q2 + 4q + 16 and the demand function is p = −8q2 + 7q + 436, find the equilibrium quantity and equilibrium price.The demand function for a truckload of firewood for college students in a small town is QC = 400 − p. It is sometimes convenient to rewrite a demand function with price on the left side. We refer to such a relationship as the inverse demand function. Therefore, the inverse demand function for college students is p = 400 − Qc. The demand function for other town residents isQr = 400 − 2p. 1. What is the inverse demand function for other town residents? 2. At a price of $300, will college students buy firewood? What about other town residents? At what price is the quantity demanded by other town residents zero? 3. Draw the total demand curve, which sums the demand curves for college students and other residents.
