The demand and supply curves for composition notebooks can be described by the following equations: Demand Qd = 100-20P, Supply Qs = 10+40P Question 1.Complete a demand schedule and a supply schedule for composition notebooks based on
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The demand and supply
equations: Demand Qd = 100-20P, Supply Qs = 10+40P
Question 1.Complete a demand schedule and a supply schedule for composition notebooks based on
the prices $0.5, $1.00, $1.50, $2.00 and $2.50
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- vSuppose that supply and demand for a certain commodity are described by the supply curve, p=0.0001q+0.005 , and demand curve, p=-0.002q+62.00 . Determine the quantity of the commodity that will be produced and the selling price.You are given the following points on the Supply and Demand Curves for shoes within Country L ( i.e., D for L’s consumers , S for L’s suppliers): Price Qty. Demanded Qty. Supplied $ 90 60,000 180,000 $ 75 75,000 150,000 $ 70 80,000 140,000 $ 65 85,000 130,000 $ 62.50 87,500 125,000 $ 60 90,000 120,000 $ 50 100,000 100,000 $ 45 105,000 90,000 $ 42.50 107,500 85,000 $ 37.50 112,500 75,000 $ 30 120,000 60,000 $ 25 125,000 50,000 Suppose that the world price for shoes ( which would be the price if Country L trades with the rest of the world) is equal to $ 75.…You are given the following points on the Supply and Demand Curves for shoes within Country L ( i.e., D for L’s consumers , S for L’s suppliers): Price Qty. Demanded Qty. Supplied $ 90 60,000 180,000 $ 75 75,000 150,000 $ 70 80,000 140,000 $ 65 85,000 130,000 $ 62.50 87,500 125,000 $ 60 90,000 120,000 $ 50 100,000 100,000 $ 45 105,000 90,000 $ 42.50 107,500 85,000 $ 37.50 112,500 75,000 $ 30 120,000 60,000 $ 25 125,000 50,000 Suppose that the world price for shoes ( which would be the price if Country L trades with the rest of the world) is equal to $ 75. What is the CHANGE in total surplus to Country L ( after trade) on Unit 60,000 (…
- With this graph given, What are the implications of this to both the sellers and the consumers?Refer to the figure below. If Mallory and Rick are the only two consumers in this market and the price of soda is $0.75 per can, then what will be the market demand for soda each month? Mallory's Demand for Sodal Rick's Demand for Soda Price ($/can) 1.50 1.25 1.00 0.75 0.50 0.25 0 0 10 20 30 40 50 60 70 Quantity (cans of soda/month) rev: 02_01_2018_QC_CS-116371 O 70 50 O 30 O 20 Price ($/can) 1.50 1.25 1.00 0.75 0.50 0.25 0 0 10 20 30 40 50 60 70 Quantity (cans of soda/month)What effect will each of the following have on the supply of auto tires? Microeconomics chapter 3 Supply is a schedule or curve showing the amounts of a productthat producers are willing to offer in the market at each possibleprice during a specific period. The law of supply states that otherthings equal, producers will offer more of a product at a high pricethan at a low price. Thus, the relationship between price and quantity supplied is positive or direct, and supply is graphed as anupsloping curve.The market supply curve is the horizontal summation of thesupply curves of the individual producers of the product.Changes in one or more of the determinants of supply (resource prices, production techniques, taxes or subsidies, the pricesof other goods, producer expectations, or the number of sellers inthe market) shift the supply curve of a product. A shift to the rightis an increase in supply; a shift to the left is a decrease in supply. Incontrast, a change in the price of the…
- "Standard tickets for Beyonce’s Renaissance tour went on sale in the UK for a price of£56 in February 2023. Many fans complained about receiving constant errormessages and being stuck in long on-line queues of more than 500,000 people." What is the relationship between the price of a ticket and the quantity of tickets demanded by consumers, and how does this affect the market for Beyonce's Renaissance tour? (Include diagram). The following relations describe monthly demand and supply for a computer support service catering to small businesses.Q D = 3,000 - 10PQ S = -1,000 + 10Pwhere Q is the number of businesses that need services and P is the monthly fee, in dollars.a. At what average monthly fee would demand equal zero?b. At what average monthly fee would supply equal zero?c. Plot the supply and demand curves.d. What is the equilibrium price/output level?e. Suppose demand increases and leads to a new demand curve:Q D = 3,500 - 10PWhat is the effect on supply? What are the new equilibrium P and Q?f. Suppose new suppliers enter the market due to the increase in demand so the new supplycurve is Q = –500 + 10 P. What are the new equilibrium price and equilibrium quantity?g. Show these changes on the graph.What effect will each of the following have on the supply of auto tires? Microeconomics chapter 3 Supply is a schedule or curve showing the amounts of a productthat producers are willing to offer in the market at each possibleprice during a specific period. The law of supply states that otherthings equal, producers will offer more of a product at a high pricethan at a low price. Thus, the relationship between price and quantity supplied is positive or direct, and supply is graphed as anupsloping curve.The market supply curve is the horizontal summation of thesupply curves of the individual producers of the product.Changes in one or more of the determinants of supply (resource prices, production techniques, taxes or subsidies, the pricesof other goods, producer expectations, or the number of sellers inthe market) shift the supply curve of a product. A shift to the rightis an increase in supply; a shift to the left is a decrease in supply. Incontrast, a change in the price of the…
- What are the influences on buying plans that change demand, and do these influences increase or www Draw a demand curve that shows what happens in the market for coffee makers if the price of a takeout coffee, a substitute for a coffee maker, rises but all other influences on buying plans remain the same. Label the curve D₁. When an event occurs that changes the demand for coffee makers, does the demand curve shift or is there a movement along the demand curve? When an event occurs that changes the demand for coffee makers, if demand decreases. if demand increases and OA. a movement up along the demand curve occurs; a movement down along the demand curve occurs OB. the demand curve shifts rightward; the demand curve shifts leftward C. a movement down along the demand curve occurs; a movement up along the demand curve occurs D. the demand curve shifts leftward; the demand curve shifts rightward 24- 20- 16- 12- 8- 4- 0- Price (dollars per coffee maker) Do 2 5 Quantity (millions of coffee…The following table shows two demand schedules for a given style of men's shoe-that is, how many pairs per month will be demanded at various prices at Stromnord, a men's clothing store. Price $ 85 80 75 70 65 D₁ Quantity Demanded 53 60 What if demand is D2? 68 77 87 Suppose that Stromnord has exactly 65 pairs of this style of shoe in inventory at the start of the month of July and will not receive any more pairs of this style until at least August 1. Instructions: Enter your answers as a whole number. a. If demand is D₁, what is the lowest price that Stromnord can charge so that it will not run oht of this model of shoe in the month of July? pair(s) D2 Quantity Demanded 13 15 18 22 27 b. If the price of shoes is set at $85 for both July and August and demand will be D2 in July and D in August, how many pairs of shoes should Stromnord order if it wants to end the month of August with exactly zero pairs of shoes in its inventory? pair(s) How many pairs of shoes should it order if the…The following diagram shows supply and demand in the market for tablets.
