a. Given that the demand (D) and supply (S) curve for television as D = 100 - 5P, S= 28 + 3P where P is the price of television. Compute the quantity of computers bought and sold at equilibrium b. Based on the information in Q(a), calculate the new equilibrium price and quantity if suppliers must pay a tax of RM6 per unit. c. Consider the market for house in 2010 and 2011, the equilibrium price of house remained constant, but the equilibrium quantity of house increased. Conclude if there is any changes of the supply and demand of house between 2010 and 2011. Sketch the graph for this situation

a. Given that the demand (D) and supply (S) curve for television as D = 100 - 5P, S= 28 + 3P where P is the price of television. Compute the quantity of computers bought and sold at equilibrium b. Based on the information in Q(a), calculate the new equilibrium price and quantity if suppliers must pay a tax of RM6 per unit. c. Consider the market for house in 2010 and 2011, the equilibrium price of house remained constant, but the equilibrium quantity of house increased. Conclude if there is any changes of the supply and demand of house between 2010 and 2011. Sketch the graph for this situation

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter4: Markets In Action

Section: Chapter Questions

Problem 1SQP

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