Fill in the order form to get the price

Subject

Category

Deadline

Timezone:

Title *

Task *

{"ops":[{"insert":"here are 5,000 identical individuals in the market of commodity X, each with a demand function given by Qdx = 6 - P, and 1,000 identical producers of commodity X, each with a function given by Qsx = 10P, where Qdx is an individual's quantity demanded, Qsx is a single producer's quantity supplied, and Px is the price of the commodity."},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":"a. Find the market demand function (QDx) and the market supply function (QSx) for commodity X."},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":"b. Determine the market demand schedule and the market supply schedule of commodity X (for whole dollar prices) and from them find the equilibrium price and the equilibrium quantity."},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":"c. Plot, on one set of axes, the market demand curve and the market supply curve for commodity X and show the equilibrium point."},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":"d. Obtain the equilibrium price and the equilibrium quantity mathematically."},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":"e. Explain why the equilibrium condition is considered stable."},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":"f. Determine the elasticity of demand for commodity X at the equilibrium point."},{"insert":"\n"}]}

I need basic explanations

Special Requirements

Upload files (if required)

Drop files here to upload

Add files...

Account info

Already have an account?

Name *

E-mail *

Password *

The password must be at least 6 characters.

I agree with terms & conditions