Read and graph the supply and demand schedules bebw to find the price where the market is at equilibrium (Equilibrium is when quantty demanded and quantity supplied are equal) Price per Video Game (in dollars) Quantity Demanded (in milions) Quantity Supplied (in milions) 100 100 1100 90 200 1000 80 300 900 70 400 800 60 500 700 50 600 600
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- LGlve Ust O Hint Question 15 of 24 Check Answer The table shows the demand and supply for cocoa beans in two countries: Cameroon and Nigeria. Use the information in the table to answer the questions. Price ($) per pound (lb) of cocoa beans Price ($/lb) Cameroon quantity Cameroon quantity Nigeria quantity Nigeria quantity demanded (lb) supplied (lb) demanded (lb) supplied (Ib) 180 500 155 210 200 460 180 180 6. 250 410 200 160 5. 4 280 360 220 140 320 320 240 125 3 350 280 260 115 What would be the equilibrium price and quantity in Cameroon and Nigeria if free trade existed between the two countries? lb I quantity demanded, Cameroon: price, Cameroon: lb quantity demanded, Nigeria: price, Nigeria: %24 %24vSuppose that supply and demand for a certain commodity are described by the supply curve, p=0.0001q+0.005 , and demand curve, p=-0.002q+62.00 . Determine the quantity of the commodity that will be produced and the selling price.A rise in the price of a crate of Pepsi from USD 20 to USD 30 results in a fall in the quantity of crate of Pepsi demanded from 220 million to 180 million a day and at today’s price of a Coca-Cola, USD 15, the quantity of Coca-Cola demanded increases from 80 million to 100 million a day. Kindly Answer ONLY (d) a). Calculate the percentage change in the price of a crate of Pepsi and the percentage change in the quantity demanded of Pepsi. Use the average price and average quantity.b). Calculate the price elasticity of demand for Pepsi. c). Is the demand for Pepsi elastic or inelastic? Explain please d). Calculate and explain the cross elasticity of demand for Coca-cola with respect to the price of a Pepsi.
- contraction of the demand for clothes from 2000 units to 1500 units because price changed from 2RO to 3ROPlot the supply curve and the demand curve for bicycles What is the equilibrium price of bicycles? What is the equilibrium quantity of bicycles? If the price of bicycles were €100, is there a surplus or a shortage? How many units of surplus or shortage are there? Will this cause the price to rise or fall ?The following table shows the demand and supply of tickets of a football game which will be held at Shah Alam Stadium. Unit Price (RM) Market Demand (units) Market Supply (units) 20 5000 3500 40 4000 3500 60 3000 3500 80 2000 3500 100 1000 3500 a) On your foolscap paper, draw the demand and supply curves. Label all axes, all curves and the equilibrium point. (6m) b) How much is the equilibrium price and equilibrium quantity? (2m) c) At which price will there be a surplus of 2500 tickets? (1m) d) What will happen when the market price is RM40? Show your answer on the same diagram. (3m) e) Why is the supply of tickets fixed at 3500? (1m)
- Price ($) a) Suppose that the demand for pizzas were to increase by 120 pizzas per day. Show the new demand, in the graph below: Plot the two end points using the tool provided in the graphing area below. Plot only the end points of the curve and position those points on the edge of the graphing area. 64 56 48 40 32 24 16 8 0 40 80 120160200240 280 320 360 400 440 480 S D Tools Demand Help i Save & Exit SubmitQuestion 1 The following table gives the daily supply and demand for mochi-ice cream at a store: Table 1 Price Quantity demanded (units) Quantity supplied (units) RM/unit 6.10 7 35 5.20 10 30 4.20 15 25 3.20 20 20 2.20 25 15 1.20 30 8 a) Determine the equilibrium price and quantity. b) Mochi-ice cream has gone viral on TikTok and hence increases the quantity demanded of mochi-ice cream by FIVE (5) units at each price, illustrate the changes on the graph. (3Marks) c) Briefly explain any TWO (2) factors that can cause the supply curve to shift leftward. d) "Surpluses drive prices up; shortages drive them down." Do you agree?The market for pizza has the following demand and supply schedules: Price (Dollars) 4 10 5 6 7 8 9 9 Quantity Demanded Quantity Supplied Į (Pizzas) 135 115 100 90 60 45 Use the blue points (circle symbol) to graph the demand for pizzas. Then use the orange points (square symbol) to graph the supply of pizza. Finally, use the black point (plus symbol) to indicate the equilibrium price and quantity in this market. (Pizzas) 15 50 75 90 100 105 ?
- ellobrate the factors that will be affecting the supply of the following products in the next several years.why do you think the factors will cause the supply to increase or decrease? Crude oil, hotle rooms, Beef, Fast food outlets, Laptop companiesO 01 A headline reads "Perfect Weather Brings Record-High Coffee Harvest." This situation would lead to a(n) Increase in the price and a decrease in the quantity purchased of coffee. decrease in the price and an increase in quantity purchased of coffee. decrease in the price and in the quantity purchased of coffee increase in the price and in the quantity purchased of coffeeThe figure shows a market for oil. Price ($/barrel) 72 64 56 48 40 D 80 84 88 92 Quantity (million barrels) If the current price of oil is $44 per barrel, the quantity of oil demanded is A million barrels, the quantity supplied is A million barrels, and the quantity bought is AA million barrels. There is excess (demand/supply) A in the market, and the price is expected to (rise/fall)