Which of the following equations correctly represents solving Q=140 - 4P for P? OP=35-4Q OP=140-Q OP=140-4Q OP=35-Q OP=140+Q Plot the relationship between P and Q on the following graph. Note: Price (P) is on the vertical axis and quantity (Q) is on the horizontal axis. PRICE 40 35 30 25 20 15 10 ?
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- The diagram to the right illustrates a hypothetical demand curve representing the relationship between price (in dollars per unit) and quantity (in 1,000s of units per unit of time). The area of the triangle shown on the diagram is $. (Enter your response as an integer.) Show Transcribed Text Price (dollars per unit) 3 100 C 90- 80- 70- 60-57 50- 40- 30- 21 20- 10- 0+ 33 69 0 10 20 30 40 50 60 70 80 90100 Quantity (1,000s of units per unit of time)The market demand for productXis given by: \[ Q_{d}=6-1 / 2 P \text { or } P d=12-2 Q \] The market supply for goodXis given by: \[ Q_{s}=-14+2 P \text { or } P s=7+1 / 2 Q \] whereP=price per unit andQis number of units. Draw a supply-and-demand graph with these curves. 1.) Using the line drawing tool, draw the supply and demand curves. Properly label your lines. 2.) Using the point drawing tool, plot the equilibrium point. Label your point 'E'. Note: Carefully follow the instructions above and only draw the required objects. The equilibrium price is$and the equilibrium quantity is unit(s). (Enter your responses as integers.) A per-unit excise tax is imposed on suppliers of productX, and the market supply with the tax is now given by: \[ Q_{s}=-19+2 P \text { or } P s=9.50+1 / 2 Q \] Using the graph on the right, show this supply curve. 1.) Using the line drawing tool, draw the new supply curve. Label your line 'S1+tax'.1. Note: Carefully follow the instructions above and only draw…I. For the normal good, make a (Hypothetical) linear demand schedule with 7 different price points and corresponding quantity demanded for your own household. For the same normal good, make another (Hypothetical) linear demand schedule with 7 different price points and corresponding quantity demanded for your neighbor. Assuming that you and your neighbor are the only two households in the market, make a market demand schedule for the same normal good. Draw and interpret a graph to show the market demand and impact of changes in quantity demanded, if price of the same normal good decreases.
- please solve C by midpoint method Suppose that the demand schedule for rice for a Saudi family is as follows:PriceQuantity DemandedOf Rice Per Month(income = SR 10,000)Quantity DemandedOf Rice Per Month(income = SR 15,000)SR 5 60 70SR 4 80 95SR 3 100 120SR 2 120 145SR 1 140 170a. Given the table above, draw the demand curve of rice using Excel.b. Show what will happen to your graph if this family like now less rice as they are eatingmore outside.c. Use the midpoint method to calculate the price elasticity of demand as the price of riceincreases from SR 4 to SR 5 if (i) family’s income is SR 10,000 and (ii) family’s income is SR15,000.i need in words (not handwritten please) Question 1 Suppose that the demand for toy drums is described by the equation QD = 300 - 5p, and supply is QS = 60 + 3p,(1) What are the equilibrium price and quantity? (2) If a decrease in consumer income shifted the demand curve to QD’ = 220 - 5p, how does this change affect the equilibrium price and quantity? Show the solutions using a graph and calculate the numerical answer.King Hardware sold 7 pounds of screws yesterday at a price of $5.00 per pound. This point is represented by the black plus symbol on the diagram below, which plots the price of screws (measured in dollars per pound) and the quantity sold (measured in pounds). PRICE (Dollars per pound) 10 ↑ 9 8 1 0 ← 0 1 2 3 + Đ 6 7 8 9 10 4 5 SCREWS (Pounds) New Price/Quantity Each small square in the grid for this graph has one side equal to 1 pound of screws and one side equal to 1 dollar per pound. The area of one small square is therefore
- The diagram to the right illustrates a hypothetical demand curve representing the relationship between price (in dollars per unit) and quantity (in 1,000s of units per unit of time). AAPS you 100- The area of the triangle shown on the diagram is $ an integer.) 90- (Enter your response as 80- 70- 65 60- 50- 40- 30- 20- 15 10- D 25 0- 0. 75 70 10 20 30 40 50 60 80 90 100 Quantity (1,000s of units per unit of time) Price (dollars per unit)PRICE (Dollars per CD) 20 18 16 14 2 0 0 S₂ S₁ 1 2 1 4 5 6 7 QUANTITY (Millions of CDs) 8 9 10 Because you understand the law of supply, you can deduce that the correct graphical representation of the supply for CDs must be you know that at a price of $10 per CD, the is five million CDs. Moreover,1A.3 The following table shows the relationship between the price of organic turkeys and the number of turkeys sold by God- frey's Free-Range Gobblers. a. Is the relationship between the price of turkeys and the number of turkeys sold by Godfrey's Free-Range Gob- blers a positive relationship or a negative relationship? Explain. b. Plot the data from the table on a graph, draw a line through the points, and calculate the slope of the line. Price per Turkey $16 20 52 36 8 Quantity of Turkeys 70 80 160 120 50 Month September October November December January
- It is a hot day, and Andrew is thirsty. Here is the value he places on a bottle of water: Value of first bottle: $9 Value of second bottle: $7 Value of third bottle: $4 Value of fourth bottle: $1 From this information, complete the following table by deriving Andrew's demand schedule. Quantity Demanded Price More than $9 $7.01 to $9 $4.01 to $7 $1.01 to $4 $1 or fewer Based on Andrew's willingness to pay, plot Andrew's demand curve as a step function on the following graph using blue points (circle symbol) beginning at a quantity of 0 bottles of water.The following graph shows the monthly demand and supply curves in the market for combs. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. PRICE (Dollars per comb) 528 && 28 72 64 56 48 40 16 Supply Demand 0 50 100 150 200 250 300 350 400 450 500 QUANTITY (Combo) Graph Input Tool Market for Combs Price (Dollars per comb) Quantity Demanded (Combs) 24 500 Quantity Supplied (Combs)The following graph shows the monthly demand and supply curves in the market for tote bags. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. PRICE (Dollars per tote bag) 80 72 64 58 48 40 32 24 16 8 0 X 0 50 100 150 200 250 QUANTITY (Tote bags) Supply 300 350 400 450 500 The equilibrium price in this market is $ Demand Graph Input Tool Market for Tote bags Price (Dollars per tote bag) Quantity Demanded (Tote bags) per tote bag, and the equilibrium quantity is Price (Dollars per tote bag) Shortage or Surplus 48 32 24 Shortage or Surplus Amount (Tote bags) 500 Quantity Supplied (Tote bags) Pressure tote bags per month. Complete the following table by indicating at each price whether there is a shortage or surplus in the market, the amount of that shortage or surplus, and whether…