At a price of x dollars, the supply function for a music player is q = 75e0.002, where q is in thousands of units. How many music players will be supplied at a price of 300? (Round to the nearest thousand.) thousand units Find the marginal supply Marginal supply(x) = Which is the best interpretation of the derivative? O The rate of change of the price as the quantity supplied increases The quantity supplied if the price increases O The rate of change of the quantity supplied as the price increases O The price at a given supply of units O The number of units that will be demanded at a given price
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- 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…answer please the last 2 sub questions The estimated demand for Canadian Processed Pork is given byQD = 171 − 20p + 20pB + 3pC + 2Ywhere QD is the quantity of pork demanded (millions of kg), p is the dollarprice per kg, pB is the price of beef per kg, pC is the price of chicken perkg, and Y is average consumer income in thousands of dollars. The supplyfor this market is given byQS = 178 + 40p − 60pB(a) According to the equations, what is the effect of an increase of pCon the market for pork? Specifically, which curve will shift, in whatdirection does the curve shift, and how will the equilibrium priceand quantity change (increase/decrease). On a corresponding graphof the supply and demand, draw the shifting curve and change inequilibrium. Note that no specific numbers are required here. Justthe direction of change.(b) Use the equations to solve for the equilibrium price of pork and quantity of pork as functions of the exogenous variables pB, pC , and Y .These will be linear…225323333 $8 $7 $1 Demand Curve for Cupcakes 12 3 D 5 6 7 8 Look at the demand curve above. Which of the following is NOT true in regards to the demand curve? O a Demand Curve will always slope down to the right O at a price of $1 there is a demand for 8 cupcakes O price is always drawn on the "X" axis O the graph only shows the relationship between price and the Quantity demand at that price O a demand curve is a graphic representation of a demand schedule
- What effect will each of the following have on the supply of auto tires? Microeconomics chapter 3 Supply is a schedule or curve showing the amounts of a productthat producers are willing to offer in the market at each possibleprice during a specific period. The law of supply states that otherthings equal, producers will offer more of a product at a high pricethan at a low price. Thus, the relationship between price and quantity supplied is positive or direct, and supply is graphed as anupsloping curve.The market supply curve is the horizontal summation of thesupply curves of the individual producers of the product.Changes in one or more of the determinants of supply (resource prices, production techniques, taxes or subsidies, the pricesof other goods, producer expectations, or the number of sellers inthe market) shift the supply curve of a product. A shift to the rightis an increase in supply; a shift to the left is a decrease in supply. Incontrast, a change in the price of the…What effect will each of the following have on the supply of auto tires? Microeconomics chapter 3 Supply is a schedule or curve showing the amounts of a productthat producers are willing to offer in the market at each possibleprice during a specific period. The law of supply states that otherthings equal, producers will offer more of a product at a high pricethan at a low price. Thus, the relationship between price and quantity supplied is positive or direct, and supply is graphed as anupsloping curve.The market supply curve is the horizontal summation of thesupply curves of the individual producers of the product.Changes in one or more of the determinants of supply (resource prices, production techniques, taxes or subsidies, the pricesof other goods, producer expectations, or the number of sellers inthe market) shift the supply curve of a product. A shift to the rightis an increase in supply; a shift to the left is a decrease in supply. Incontrast, a change in the price of the…Oil is a main component in the manufacture of plastic bags. If the price of oil were to increase, the price of plastic bag would. and the supply of plastic bag would O A) increase; increase O B) decrease; decrease C) increase; decrease OD) decrease; increase
- amaldong no Nowboy 2) Suppose that a furniture manufacturer is willing to supply x tablets at a tounding P = S(x) = 2x² - 30x + 300 dollars each, and has found that consumers are willing to purchase x tablets at a price of p = D(x) = -10x +1050 dollars each. Put units on all of your solutions. a.) Sketch the graphs of the supply and demand functions on the same axis. Label your y intercepts, the units on the axis, and your functions clearly. Find Equilibrium price and quantity and label it on your graph. LONGAT pub Gen Equilibrium Price = Equilibrium Quantity = b.) Shade in the region that represents Producers' Surplus at equilibrium Write the expression (with the definite integral) that represents the amount of producers' surplus and find it 8.01 NOHA c) Write the expression (with the definite integral) that represents the Consumers' surplus and find it.Consider the market for cellophane tape where the demand is described by the equation Q = 70 - 10P and the supply is described by the equation Q = -10 + 10P. Quantity, Q is measured in thousands per week and the price P, is dollars per unit. At the market price of $3, the quantity of cellophane tape sold is O O OO 10 thousand per week. 20 thousand per week. 30 thousand per week. 40 thousand per week.Define the quantity supplied of a good or service: Select one: O a. O b. O c. equal to the difference between the quantity available and the quantity desired by all consumers and producers the same thing as the quantity demanded at each price the amount the firm would sell if it faced no resource constraints O d. The quantity supplied of a good or service is the quantity sellers are willing to sell at a particular price during a particular period, all other things unchanged. An increase in the number of sellers supplying a good or service: ► Select one: O a. shifts the supply curve to the left O b. shifts the demand curve to the left O c. shifts the supply curve to the right O d. shifts the demand curve to the right
- CHAPTER 21. The inverse demand curve for product X is given by:a. PX = 25 - 0.005Q + 0.15PY,where PX represents price in dollars per unit, Q represents rate of sales in poundsper week, and PY represents selling price of another product Y in dollars perunit. The inverse supply curve of product X is given by: PX = 5 + 0.004Q.b. Determine the equilibrium price and sales of X. Let PY = $10.c. Determine whether X and Y are substitutes or complements.2. Suppose the cable TV industry is currently unregulated. However, due to complaintsfrom consumers that the price of cable TV is too high, the legislature is consideringplacing a price ceiling on cable TV below the current equilibrium price. Assuming thegovernment does make this price ceiling law, please construct a diagram that shows theimpact of this law on the cable TV market, and please briefly explain the effects onmarket prices and quantities with supply and demand analysis. Also, if the cable TVcompany is worried about disgruntling…If the supply of and demand for a product increase at the same time, then equilibrium O quantity and equilibrium price must both decline. O quantity must decline, but equilibrium price may either rise, fall, or remain unchanged. O price must fall, but equilibrium quantity may either rise, fall, or remain unchanged. O quantity must increase, but equilibrium price may either rise, fall, or remain unchanged.In 2000 there were 200,000 gas grills demanded at a price of $500. In 2001 there were more than200,000 gas grills demanded at the same price. This increase could be the result any of thefollowing EXCEPTA) an increase in the supply of gas grills.B) an increase in population.C) an increase in income if gas grills are a normal good.D) a fall in the price of natural gas, a complement for a gas grill.