give a suppl fuction s(q)=q^(2)+2q and demand function D(q)=1672-4q where q reprsents the quantty of some product and S(q) and D(q) gives prices determine the price and quantity for market equilibrium
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give a suppl fuction s(q)=q^(2)+2q and demand function D(q)=1672-4q where q reprsents the quantty of some product and S(q) and D(q) gives prices determine the price and quantity for
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- Lumber-4-Less knows that the monthly demand for framing studs is 2550 when the price is $1.75 each, but the demand rises to 3050 when the price decreases to $1.70. Assuming that the demand function is linear, write the equation for the demand function. Use q for quantity. P =The demand equation for school lunches is x=100-10pwhere x is the number of lunches purchases and p is the price in dollars. Which of the following represents E(p)? A) p/10-p b) -p/10-p c) p/20-p d) -p/100-10p e) p2/100-10pThe demand and supply functions for a particular commodity are D(x) = 80e-0.001x and S(x)= 30e0.001r , where x is the number of units of the product, D(x) is the price that results in a consumer demand of x units and S(x) is the price that results in a producer supply of x units. a. Find the equilibrium point using your calculator and identify the equilibrium units and price. Give your answers to the nearest whole unit and nearest dollar. The value of x at equilibrium is units. The value of p at equilibrium is b. Determine the consumers' surplus.
- Suppose that the demand for a product is given by the following demand function; Q = 500 - 3P. If you set price at dollar 100 per unit how many unit will you sell?The marginal price for a weekly demand of x bottles of shampoo in a drugstore is given by the function shown below. Find the price-demand equation if the weekly demand is 150 when the price of a bottle of shampoo is $2. What is the weekly demand when the price is $4.50? - 9,000 p'(x) = (3x + 50)? 2 Find the price-demand equation. (Type an equation.)suppose the demand and supply functions for an item are givem by QX = 50-2P and QX= 10+3P a, represent the above function graphically b, find the equilibrium price and quantity
- Identify the effect each scenario would have on the market for various products.For each scenario:- Label the P & Q of the graph as well as the original supply curve, demandcurve, and market equilibrium (S1, D1, E1).- Identify whether it would first cause a shift in supply or demand and draw andlabel the new curve and market equilibrium (S2 or D2, E2)-Identify whether the equilibrium price and quantity will increase or decreasea. Insects kill half the nation’s tomato crop. What will happen to the market fortomatoes?b. The price of salmon, a substitute for tuna, skyrockets. What will happen to themarket for tuna?c. New assembly line technology makes it cheaper to produce car parts. Whatwill happen to the market for cars?The demand and supply functions for Curling brooms are given by Qd = 286-20P, Qs = 88 + 40P .a. Graph the supply and the demand curves, clearly showing the intercepts and indicating the slopes of the two curves. b. Determine the equilibrium price and quantity of Curling brooms. c. Suppose that both the men's and the women's teams win Olympic gold medals, causing an increase in the demand for Curling brooms across the country to Qd = 328-20P. What impact does this have on the price of Curling brooms and the quantity sold? Add this new demand curve and the resulting equilibrium to your graph.Market Equilibrium A retail chain will buy 900 cordless phones if the price is $10 each and 400 if theprice is $60. A wholesaler will supply 700 phonesat $30 each and 1400 at $50 each. Assuming that thesupply and demand functions are linear, find the market equilibrium point and explain what it means.
- We are given the market information of phone as below: a)Define the market demand equation and supply equation. b)Find the equilibrium price and quantity in a market c)Draw the graph to show this market.The market demand and supply for a good are given by the functions: QD = 200-8P, and QS = 2P-10 i) What is the seller’s reservation price for this good?The quantity demanded for the Sony VCR model 37 is 2500 per week when the unit price is $700. For each increase in unit price of $50, the quantity demanded decreases by 250 units. The suppliers will provide 2500 units when the price is $800 per unit, and they will not supply any units for $500 or less. (Note: Define your variables.) A. Algebraically determine the supply equation. (Place in function form.) B. Algebraically determine the demand equation. (Place in function form.) C. Algebraically determine the equilibrium quantity and price. D. At what price does excess supply occur?