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- A business sells 30,000 units each month at a price of Tk.150 each. It is projected that monthly sales will increaseby 3000 units for each Tk.4.50 reduction in price.(i) Construct the demand equation(ii) What is the highest price to be paid for this product?(iii) What is the highest quantity demanded for this product?(iv) How many units will be bought if the price is Tk.100 per unit?(v) What is the price per unit if 40,000 units were demanded?(vi) Sketch the graph of the demand equation.Calculate the price per unit if quantity sold is 34 units and the revenue generated out of it is $1500Suppose country B is a small export country (price taker) in the world market of lamp trade. Its domestic demand on and supply for lamp are: D＝18－P, S＝－12＋2P. The world market price of lamp is 14. (a) Calculate the equilibrium price and quantity of lamp in country B before trade. (c) Calculate B’s quantity of exported lamp under free trade. (c)Draw graph and calculate the net welfare effect of free trade on B’s consumers, producers and the whole country.
- Effect of Weather on Prices. Suppose a freeze in Florida destroys 20% of the orange crop. Use the line drawing tool to show the effect of this freeze on the market for oranges. Be sure to properly label this line. Carefully follow the instructions above, and only draw the required objects. C Price per pound 14.00- 13.00- 12.00- 11.00- 10.00- 9.00- 8.00- 7.00- 6.00- 5.00- 4.00- 3.00- 2.00- 1.00- 0.00- Orange market Quantity of oranges S₁ D₁ QA D1 Quantity (per day) Suppose the demand curve shifts to the right and the supply curve shifts to the Right by more than the demand curve. The new demand curve will be upward sloping v and the new supply curve will be downward sloping vThe following table shows the demand and supply of tickets of a football game which will be held at Shah Alam Stadium. Unit Price (RM) Market Demand (units) Market Supply (units) 20 5000 3500 40 4000 3500 60 3000 3500 80 2000 3500 100 1000 3500 a) On your foolscap paper, draw the demand and supply curves. Label all axes, all curves and the equilibrium point. (6m) b) How much is the equilibrium price and equilibrium quantity? (2m) c) At which price will there be a surplus of 2500 tickets? (1m) d) What will happen when the market price is RM40? Show your answer on the same diagram. (3m) e) Why is the supply of tickets fixed at 3500? (1m)
- Price per Ice-cream (Rs.) Demand for Ice cream (Qd) Supply for Ice cream (Qs) 140 500 1500 120 750 1200 100 1000 1000 80 1250 750 60 1500 600 40 1750 300 (1) What is the maximum price that consumer is willing to pay for 1500 bottles? (2) What is the minimum price that producer is willing to accept for 1500 bottles?TOTAL REVENUE (Dollars) On the following graph, use the green point (triangle symbol) to plot the weekly total revenue when the market price is $30, $45, $60, $75, $90, $105, and $120 per scooter. 1460 1320 1180 1040 900 760 620 480 340 200 0 15 30 45 60 75 90 105 120 135 150 165 180 195 PRICE (Dollars per scooter) Total Revenue (? According to the midpoint method, the price elasticity of demand between points A and B is approximately Suppose the price of scooters is currently $45 per scooter, shown as point B on the initial graph. Because the demand between points A and B is a $15-per-scooter increase in price will lead to in total revenue per week.The optimal choice of chicken meals and vegetarian meals for bold italic I bold italic C subscript bold 2 and bold italic B subscript bold 2 in the diagram below is __________. 10 chicken meals and 10 vegetarian meals 4 chicken meals and 12 vegetarian meals 14 chicken meals and 6 vegetarian meals 8 chicken meals and 6 vegetarian meals 10 chicken meals and 10 vegetarian meals 4 chicken meals and 12 vegetarian meals 14 chicken meals and 6 vegetarian meals 8 chicken meals and 6 vegetarian meals
- Price Price @ (c) MA MC MR ATC Quantity MC ATC D Quantity Price Price (b) MR 6 MC D Quantity MC ATC ATC D Quantity छे 110(f ) Using a graph, show what will happen in the market for gasoline if the price of oil increases and there is a vast increase in the population (e.g., another baby boomer generation)?Supply and Demand: Suppose that the demand curve for asparagus is P = 15 − 2 × Q and the supply curve for asparagus is P = 3 + 2 × Q. (a) On the graph below, draw the supply and demand curves and show the equilibrium point. Also, find the equilibrium price and quantity (draw them on the graph). (b) Solve for the equilibrium price and quantity. (c) Suppose that there is a drought and the supply of asparagus falls. On the graph below, show how this will effect the equilibrium price and quantity. Explain how the economy will move to the new equilibrium. 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.