Refer to the diagram to the right.The equation for market demands given by:The Market100-Q = 950 - 10p.90-The equation for market supply is given by:80-Q. = -400 + 20p.70-60-For the numerical questions that follow, answer them using the equations above. Donot rely on the graph.50-45At the market equilibrium price of $45, the residual demand for a given firm is: 040-p = 32.00units. (Enter your response as an integer.)30-At a market price of $32.00, the residual demand for this same firm is:units.20(Enter your response as an integer.)10-5000-O 100 200 300 400 500 600 700 800 900 1000Quantity (per week)etv13MacBook Air80DIIDDescF2F4F6F7FBF9F1@23$%&*13479QWERTYtabASFGH.Kaps lockCVcontroloptioncommand* 00く

The Residual Demand occurs when the demand exceeds its supply in the market. It can be calculated as…

The Market The equation for market demand is given by: 100- Q = 950 - 10p. 90- The equation for market supply is given by: 80- Q = - 400 + 20p. 70- 60- For the numerical questions that follow, answer them using the equations above. Do not rely on the graph. 50-45 At the market equilibrium price of $45, the residual demand for a given firm is: 0 units. (Enter your response as an integer.) 40- p = 32.00 30- At a market price of $32.00, the residual demand for this same firm is:units. (Enter your response as an integer.) 20- 10- 500 0- Ó 100 200 300 400 500 60 700 800 900 1000 Quantity (per week) Price

The Market The equation for market demand is given by: 100- Q = 950 - 10p. 90- The equation for market supply is given by: 80- Q = - 400 + 20p. 70- 60- For the numerical questions that follow, answer them using the equations above. Do not rely on the graph. 50-45 At the market equilibrium price of $45, the residual demand for a given firm is: 0 units. (Enter your response as an integer.) 40- p = 32.00 30- At a market price of $32.00, the residual demand for this same firm is:units. (Enter your response as an integer.) 20- 10- 500 0- Ó 100 200 300 400 500 60 700 800 900 1000 Quantity (per week) Price

Microeconomics A Contemporary Intro

10th Edition

ISBN:9781285635101

Author:MCEACHERN

Publisher:MCEACHERN

Chapter5: Elasticity Of Demand And Supply

Section: Chapter Questions

Problem 14PAE

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