HelloPlease answer C, D, EThanks Mahboob The supply curve S(x) and the demand curve D(x) for choclates are given by:V4x + 16S(x) :; D(x) = 8 – x for 0

The supply curve depicts the units of the commodity that producers are ready and willing to supply…

The supply curve S(x) and the demand curve S(x)= √4x+16 4 ; D(x)=8-x for 0 ≤x≤8 x: Quantity in units, S and D price per unit a) Sketch the graphs of the two functions in the given grid below and mark both axes and the two functions correctly. b) Calculate the coordinates of the market equilibrium point and mark it in the graph. c) What is the revenue of the producer in the equilibrium? d) Assume that the producers decide to sell the product for a price of 2 per unit without changing the supply curve. What is the corresponding demand and supply for this price? e) Mark the gap between supply and demand for price 1.2 per unit in the graph? Explain what the producers have to do.

The supply curve S(x) and the demand curve S(x)= √4x+16 4 ; D(x)=8-x for 0 ≤x≤8 x: Quantity in units, S and D price per unit a) Sketch the graphs of the two functions in the given grid below and mark both axes and the two functions correctly. b) Calculate the coordinates of the market equilibrium point and mark it in the graph. c) What is the revenue of the producer in the equilibrium? d) Assume that the producers decide to sell the product for a price of 2 per unit without changing the supply curve. What is the corresponding demand and supply for this price? e) Mark the gap between supply and demand for price 1.2 per unit in the graph? Explain what the producers have to do.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

What is the demand function if P =10 and Qd =250
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 =
Let a demand function be given by Q(P)=100-4P, where P is between 0 and 25. Then, when the price increases by 3 dollars, the quantity demanded decreases by 0.75 decreases by 4 decreases by 12 decreases by 4/3 decreases by 0.25
Let the demand function for a product be Q = 50- 5P. The inverse demand function of this demand function is :
For the following demand function, calculate the inverse demand function: Q(P) = 54,000 – 100P P(Q) = 54,000 - Q P(Q) = 540 – 0.01Q O P(Q) = 540 - 0.01P O P(Q) = 54,000 – 0.01Q None of the above
Suppose the demand function for a product is given by pq+p=5000 where p is price in dollars and q is the number of units sold. If the price is $50 and increasing by $2 per week, how is the quantity sold changing?
suppose the demand for shoes is given by qd=40-5p and supply is given by qs=10p-20
Consider the demand function for processed pork in Canada, Q = 590.00 – 36p + 20p, + 3p. + 0.002Y The supply function for processed pork in Canada is: Q = 442.00 + 52p – 60ph p is the price of pork Ph is the price of beef = $4 per kg Pc is the price of chicken = $3 per kg Y is the income of consumers = $12,500 Ph is the price of a hog = $1.50 per kg Q is the quantity of pork demanded (measured in millions of kg per year) Solve for the equilibrium price and quantity for pork. The equilibrium price of pork is $3.72 and the equilibrium quantity of pork is 545.23 million kg per year. (Enter numeric responses using real numbers rounded to two decimal places.) OCT étv 2 MacBook Air 80 DII DD PSC F1 F2 F6 F7 F8 F9 F10 F3 F4 @ $ & 1 2 3 4 5 6 7 8 9 多。
The 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.
Consider the following demand function: U(X,Y) = X5Y5 Find the solution of the maximization problem.
Given the demand function P = 100-2Q. (i) Express TR as a function of Q OTR=100Q-2Q² OTR=2Q-100 OTR=2Q+100Q² OTR=2Q²-100 (iii) What is the maximum value of TR?
Consider the demand function for processed pork in Canada, Q. = 590.00 – 36p + 20p, + 3p. + 0.002Y The supply function for processed pork in Canada is: Q. = 442.00 + 52p - 60p, p is the price of pork Pn is the price of beef = $4 per kg Q is the quantity of pork demanded Po is the price of chicken = $3 per kg (measured in millions of kg per year) Y is the income of consumers = $12,500 Ph is the price of a hog = $1.50 per kg Solve for the equilibrium price and quantity for pork. The equilibrium price of pork is $and the equilibrium quantity of pork is million kg per year. (Enter numeric responses using real numbers rounded to two decimal places.) étv MacBook Air DII DD 80 F8 F9 F10 F2 F3 F4 F5 F6 F7