Answer Happy

Posted: **Fri Jul 01, 2022 7:40 am**

: 2 3 Qd 200 38 15po 8 35ps 2pc 10inc 8ts 5m21 4 Qs 100 22 95po 5ppi 10ps 8temp 1sup 5 6 Demand 7 8 Pri 1 (59.54 KiB) Viewed 35 times

: 2 3 Qd 200 38 15po 8 35ps 2pc 10inc 8ts 5m21 4 Qs 100 22 95po 5ppi 10ps 8temp 1sup 5 6 Demand 7 8 Pri 2 (31.41 KiB) Viewed 35 times

2 3 QD = 200-38.15PO +8.35PS - 2Pc+10Inc + .8TS +.5M21 4 QS = -100+22.95PO-5PPI-10PS + 8Temp + 1Sup 5 6 Demand: 7 8 -Price of Substitutes: $18 9 10 -Price of Cheese: $15 11 12 -Income: $53,000 13 14 -Trade Shows/Competitions: $3 15 16 -Millennials = 42 million 17 18 19 Supply: -PPI: 110 -Price of Substitutes: $18 -Temperature: 60 -Number of Suppliers: 8,000 Price

5 m) Will this create a shortage? 7 263.3-25.2= 238.1 million 3 9 On) With the increase in production costs to 123.222, at what price will the market be in equilibrium again? Qs=-100+22.95 (20)-5 (123.222) - 10 (18) +8 (60) + 1 (8) 2 Qs=-100+22.95 (20)-5 (123.222)- 10 (18) + 8 (60) + 1 (8) Qs = 250.89 34.4-162.9 -128.5 million o) What will be the quantity demanded and supplied at this price? +