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- Looking for help on how you would go about solving the following problem: The following functions represent the demand and supply for hair cuts. QD=300-6P QS=2P-20 what demand function would accurately represent an increase in demand for hair cuts? QS=450-6P QD =150-6P QD =450-5P QD =450-6Psuppose the demand for shoes is given by qd=40-5p and supply is given by qs=10p-20Assume that the demand curve D(p) given below is the market demand for widgets: Q=D(p)=1214−13p , p > 0 Let the market supply of widgets be given by: Q=S(p)=−5+10p , p > 0 where p is the price and Q is the quantity. The functions D(p) and S(p) give the number of widgets demanded and supplied at a given price. What is the equilibrium price? What is the equilibrium quantity? What is the total revenue at equilibrium?
- Alvin’s demand for bottled water is given by QdA = 8−0.5P. Betty’s demand function is QdB = 6 − P. Calculate Alvin and Betty’s marginal and total willingness to pay for four bottles of water and illustrate graphically. Compute the aggregate demand for bottled water, assuming Alvin and Betty are the only consumers. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.Suppose a town is planning to construct a new public park. Based on some market research, they have determined that the town’s 50 residents can be divided into two types with respect to their benefit from this public good. 20 of the town’s residents are of Type 1 and the other 30 residents are of Type 2. Each resident's individual demand for acres of park space is given by: Type 1: QD = 20 – P Type 2: QD = 40 – 2P a. Solve for the aggregate demand of the towns 50 residents as a function of the number of acres. Be sure to write down equations for each section of the aggregate demand curve, as well as the interval of quantities each section spans. b. Graph the aggregate demand curve calculated in part a. Make sure to label both intercepts, slopes, and the intersection of the two sections.only typed answer Q1 Assume that the demand curve D(p) given below is the market demand for widgets: Q=D(p)=1291−14pQ=D(p)=1291-14p, p > 0 Let the market supply of widgets be given by: Q=S(p)=−5+10pQ=S(p)=-5+10p, p > 0 where p is the price and Q is the quantity. The functions D(p) and S(p) give the number of widgets demanded and supplied at a given price. What is the equilibrium price? Please round your answer to the nearest hundredth. What is the equilibrium quantity? Please round your answer to the nearest integer. What is the total revenue at equilibrium? Please round your answer to the nearest integer.
- Given p=square root x-2 and p= square root 8-x and the price is given in thousands. Identify which of these could represent a demand function and which is a supply function. UT Sports, a store that sells various types of sports clothing and other sports items, is planning to introduce a new design of World Cup Kits. A consultant has estimated the demand curve to be Q= 8400 – 420 P Where Q is cap sales and P is price. How many KITs could UT sell at $25.2 each? How much would the price have to be to sell 7,560 KITs? Suppose UT were to use the KITs as a promotion. How many KITs could UT give away free? At what price would no KITs be sold? Calculate the point price elasticity of demand at a price of $ 25.2.Complete the table below by filling in ALL missing numbers. If your answer is a decimal rather than a whole number, round your answer to the nearest 1 decimal place (the nearest tenth). Also, do not enter leading zeroes. For example, if the answer to a field is 1/8, enter .1 Do not enter .125 or 0.13 or 0.1 Do not include commas in numerical answers. Consider the fictitious good Derp. The demand for Derp is Q = 1200 – 2P. Suppose the supply of Derp is given by Q = –600 +2P.
- Assume a linear demand function of the form : Qd = 120- 12P, and a linear supply curve of the form: Qs = 32+10 P a. Calculate the quantities demanded and supplied for prices from $1 − $10Imagine the market for Good X has a demand function of QDX = 100 – 2PX – 4PY + 0.05M + 0.1AX and a supply function of QSX = 4PX – 10, where PX is the price of Good X, PY is the price of Good Y, M is the average consumer income and AX is the amount spent to advertise Good X. If the price of Good Y is $5, M is $5000 and AX is $10,000, find the equilibrium price of Good X.Harding Enterprises has developed a new product called the “Quest Simulator (QS)”. The market demand for this product is given as follows: Q = 240 - 4P. If QS is priced at $40, what is the point price elasticity of demand? Is demand elastic or inelastic? What is the maximum amount that consumers are willing to pay for the quantity demanded at the price of $40? (hint: it includes both the total expenditures and the consumer surplus) If the price of QS is increased slightly from $40, what will happen to the total expenditure on the product? What will happen to the consumer surplus? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
