Microeconomics Answers

P=25 P= 20 Qd= 50 Qd= 100

1. Compute for the demand coefficient of price b-value

2. Compute for the level of demand independent of price

3. Compute for the demand function

P=25 P=20 Qs=75 Qs=50

1. Compute for the supply coefficient of d-value

2. Compute for the level of supply independent of price

3. Compute for the supplied function

1. What is the equilibrium price? round to the nearest hundredths

2. What is the quantity demand value?round to the nearest tenths

3 What is the quantity supplied value?round to the nearest tenths

Graph the given demand and supply.

Price 25,20 Quantity demanded 50,100

Price 25,20 Quantity supply 75,50

Demand & Supply Schedule Price 8, 5 Quantity Demanded 60, 85 Quantity Supplied 130, 100 Compute the Following: SHOW YOUR SOLUTIONS

1. Demand coefficient of price (b-value) 2. Level of demand independent of price (a-value) 3. Demand Function 4. Supply coefficient of price (d-value) 5. Level of supply independent of price (c-value) 6. Supply Function 7. Equilibrium Price 8. Equilibrium Quantity 

Assume that the government imposes price caps on the mask market, construct a supply and demand market for masks, and explain how non-binding and/or binding price caps lead to reduced market efficiency.

Nimbus, Inc., makes brooms and then sells them to customers. Here is the relationship between the number of workers and Nimbus's output in a given day:

Workers:

1. 0 worker
2. 1 worker
3. 2 workers
4. 3 workers
5. 4 workers
6. 5 workers
7. 6 workers
8. 7 workers

Output:

1. 0 broom
2. 20 brooms
3. 50 brooms
4. 90 brooms
5. 120 brooms
6. 140 brooms
7. 150 brooms
8. 155 brooms

a.) Construct the marginal-cost and average-total-cost curves for Nimbus. Explain diminishing marginal product and explain when does Nimbus experience diminishing marginal product using the cost curves below.

Use demand and supply diagrams to illustrate consumer and producer surpluses and explain how to maximize the total surplus (consumer surplus + producer surplus) at an equilibrium level.

Determine the equilibrium price and quantity of the market when j = 100

Qd = Qs given the following equations: 400 - 2P + 4j = - 100 + 3P and 400 + 400 + 100 = 3P + 2P calculate price and quantity

Use diagrams to illustrate the impact of each of the following on the demand curve and the equilibrium price and quantity of sasko bread

i. An increase in consumers taste for fat cakes

ii. An expected increase in the pice of flour

Use diagrams to illustrate the impact of each of the following on the demand curve and the equilibrium price and quantity of saskobtead

An increase in consumers' taste for fat cakes