Assumed that the demand (D) for potato given by demand: Q = 1500 − 15P, where Q is quantity per month measured in kilos and P is price per kilo. 1. Supply is equals to 900 kilos one day, what will the price be? 2. Supply were to fall to 300 kilos, what would the price be? 3. The D for Potato shifts outward to Q = 2100 − 15P, what will be answer in part 1 and 2 change? 4. Graph the results
Assumed that the demand (D) for potato given by demand: Q = 1500 − 15P, where Q is quantity per month measured in kilos and P is price per kilo. 1. Supply is equals to 900 kilos one day, what will the price be? 2. Supply were to fall to 300 kilos, what would the price be? 3. The D for Potato shifts outward to Q = 2100 − 15P, what will be answer in part 1 and 2 change? 4. Graph the results
Chapter3: Market Demand And Supply
Section: Chapter Questions
Problem 3SQP
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Assumed that the demand (D) for potato given by demand: Q = 1500 − 15P, where Q is
quantity per month measured in kilos and P is price per kilo.
1. Supply is equals to 900 kilos one day, what will the price be?
2. Supply were to fall to 300 kilos, what would the price be?
3. The D for Potato shifts outward to Q = 2100 − 15P, what will be answer in part 1 and 2 change?
4. Graph the results
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