Consider The Equations For The Following Straight Line Supply Curves In Each Case P Is The Price Measured In Dollars 1 (32.91 KiB) Viewed 25 times
Consider the equations for the following straight-line supply curves. In each case, p is the price (measured in dollars per unit) and QS is the quantity supplied of the product (measured in thousands of units per month). Supply A: p=4QSA, and Supply B: p=5QsB a. Plot each supply curve on a scale diagram. In each case, plot point 1, which corresponds to price equal to $20, and point 2, which corresponds to price equal to $40. 1.) For each supply line, A and B, use the point drawing tool to plot and label: i.) points A¹ and B¹ (where price = $20). ii.) points A² and B² (where price = $40). 2.) Use the line drawing tool twice to draw and label the supply lines, SA and Sg, based on the two equations. Carefully follow the instructions above, and only draw the required object. (...))) 40 to... B1 SB B2 A1 Quantity -00 8 SA 10 12
Suppose the market demand and supply curves are as given below. In each case, quantity refers to millions of litres of gasoline per month; price is the price per litre (in cents). Demand: P=325-200⁰ Supply: P=130 +6Q³ Given these demand and supply equations, the equilibrium price is 175 cents and the equilibrium quantity is 7.5 million litres. Suppose the government imposes a tax per litre, and as a result the quantity sold is 5.8 million litres. What is the new "consumer price" and what is the new "producer price"? The new price consumers pay is 209 cents. (Enter your response rounded to the nearest cent.) The new price producers receive is cents. (Enter your response rounded to the nearest cent.)
Consider points Y and Y' in the figure at right, where Do and D, represent demand curves for DVDs in Regina. Assuming that TV shows are a substitute for DVDs, the movement from point Y to point Y' could have been caused by O A. a decrease in preference for DVDs. B. an increase in preference for DVDs combined with a fall in the price of DVDs. OC. a reduction in price of DVD players. O D. a decrease in the price of DVDs. Price of DVDs 10- X Quantity of DVDs D₁ De
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