HelloPlease answer C, D, EThanks Mahboob The supply curve S(x) and the demand curve D(x) for choclates are given by:V4x + 16S(x) :; D(x) = 8 – x for 0

The supply curve depicts the units of the commodity that producers are ready and willing to supply…

The supply curve S(x) and the demand curve S(x)= √4x+16 4 ; D(x)=8-x for 0 ≤x≤8 x: Quantity in units, S and D price per unit a) Sketch the graphs of the two functions in the given grid below and mark both axes and the two functions correctly. b) Calculate the coordinates of the market equilibrium point and mark it in the graph. c) What is the revenue of the producer in the equilibrium? d) Assume that the producers decide to sell the product for a price of 2 per unit without changing the supply curve. What is the corresponding demand and supply for this price? e) Mark the gap between supply and demand for price 1.2 per unit in the graph? Explain what the producers have to do.

The supply curve S(x) and the demand curve S(x)= √4x+16 4 ; D(x)=8-x for 0 ≤x≤8 x: Quantity in units, S and D price per unit a) Sketch the graphs of the two functions in the given grid below and mark both axes and the two functions correctly. b) Calculate the coordinates of the market equilibrium point and mark it in the graph. c) What is the revenue of the producer in the equilibrium? d) Assume that the producers decide to sell the product for a price of 2 per unit without changing the supply curve. What is the corresponding demand and supply for this price? e) Mark the gap between supply and demand for price 1.2 per unit in the graph? Explain what the producers have to do.

Macroeconomics

13th Edition

ISBN:9781337617390

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter5: Supply, Demand, And Price: Applications

Section5.7: Application 7: Why Do Colleges Use Gpa,s Actss, And Sats, For Purposes Of Admission?

Problem 2ST

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