The price in pesos for a certain product is p(x) = 900 - 20x - x2 when x units is demanded. Also p(x) = x2 + 10x is the price when the supply is x units. Compute the equilibrium price.
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- For each of the determinants of demand in Equation 2.1, identify an example illustrating the effect on the demand for hybrid gasoline-electric vehicles such as the Toyota Prius. Then do the same for each of the determinants of supply in Equation 2.2. In each instance, would equilibrium market price increase or decrease? Consider substitutes such as plug-in hybrids, the Nissan Leaf and Chevy Volt, and complements such as gasoline and lithium ion laptop computer batteries.Find the equilibrium price if the price-demand equation is p=D(x)=23-1/20x, and the price-supply equation is p=S(x)=8+1/8,000x2The equilibrium price means that the supply and demand for a product are in balance.True or False
- Sketch the market described above and indicate the values of the equilibrium price andequilibrium quantity.Consider the following: If the price per unit of good A is P200 quantity purchased is valued at 1,500 units. If price changes (increase or decrease) by P1, quantity demanded changes (decreases or increases) by 4 unitsFind the equilibrium quantity and equilibrium price for the commodity whose supply and demand functions are given. Supply: p= q^2+ 20q Demand: p= −2q^2+ 10q+ 11,400
- the price of good X increases from RM3 to RM5, the quantity demanded drops from 10 to 8. if the market price is equal to 1, determine how many units of good X will be sold in the market.Estimate the equilibrium price. $ per pan. Round to the nearest dollar. Screenshot attached below thanks! Refer to the graphSome have argued that higher cigarette prices do not deter smoking. While there are many arguments both for and against this view, some find the following argument to be the most persuasive of all: “The laws of supply and demand indicate that higher prices are ineffective in reducing smoking. In particular, higher cigarette prices will reduce the demand for cigarettes. This reduction in demand will push the equilibrium price back down to its original level. Since the equilibrium price will remain unchanged, smokers will consume the same number of cigarettes.”Do you agree or disagree with this view? Disagree - the reduction in demand will push the equilibrium price below its original level. Disagree - this confuses a change in demand with a change in quantity demanded. Agree - the price increase will ultimately leave cigarette consumption unchanged. Disagree - higher cigarette prices will actually increase the demand for cigarettes.
- Some have argued that higher cigarette prices do not deter smoking. While there are many arguments both for and against this view, some find the following argument to be the most persuasive of all: “The laws of supply and demand indicate that higher prices are ineffective in reducing smoking. In particular, higher cigarette prices will reduce the demand for cigarettes. This reduction in demand will push the equilibrium price back down to its original level. Since the equilibrium price will remain unchanged, smokers will consume the same number of cigarettes.” Do you agree or disagree with this view?Find the value of quantity supplied using the formula Qs= 120 - 30p if the price is given as $2A survey by Namibian statistics agency indicated that kapana is Namibian favourite. For the following, graphically indicate the possible effects on demand, supply or both as well as equilibrium quantity of kapana (a) New technology that lower cattles cost of producing