2. Consider the demand and supply functions Qs = -400 + 20P Qd = 1,400 – 10P (Qd and Qs are in unit quantities and price is in rupees) Interpret demand and supply function there parameters and signs carefully in the following space -400 +20 1400 -10 3. Calculate equilibrium price and equilibrium quantity through solving equations in given space. = -400 + 20P Qd = 1,400 – 10P

How do i figure this one out?

Hello Please answer all except A and B) Thanks   Mahboob

< Suppose that the quantity supplied S and quantity demanded D of T-shirts at a concert are given by the following functions where p is the price. S(p)=-210+70p D(p) 1150-100p Answer parts (a) through (c). (a) Find the equilibrium price for the T-shirts at this concert. The equilibrium price is $ (Round to the nearest dollar as needed.) What is the equilibrium quantity? The equilibrium quantity is T-shirts. (Type a whole number.) (b) Determine the prices for which quantity demanded is greater than quantity supplied. For the price $ supplied. p $ the quantity demanded is greater than quantity (c) What will eventually happen to the price of the T-shirts if the quantity demanded is greater than the quantity supplied? OA. The price will increase. OB. The price will decrease.

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Hello Please answer C, D, E Thanks   Mahboob

Suppose that the market for bottled water can be represented by the following equations: Demand: P = 10 - 2QDSupply: P = 1 + 0.5QSwhere P is the price per gallon, and Q represents quantity of purified water, represented inmillions of gallons of water consumed.a) Calculate the equilibrium price and quantity of bottled water.b) Concerned over high water prices after the winter storm, the government sets a priceceiling of $2.25 per gallon of water. What is the new quantity of water sold in themarket? Use supply and demand curves to illustrate your answer, showing both theoriginal equilibrium from part a) and the new quantity sold with the price ceiling.c) Calculate the producer surplus and consumer surplus at the initial equilibrium priceand quantity from part a).d) Calculate the new producer surplus and consumer surplus with the price ceiling frompart b).e) How does the total consumer and producer surplus in part c) compare to the totalconsumer and producer surplus in part d)? What…

1a) Graph the demand curve for a product given by the equation P=16-0.5Q. 1b) Which of the following statements is accurate? a. The max willingness to pay for the 10 unit is $6. b. If the price is $8, the quantity demanded is 8 units.  c. The max willingness to pay for the 8th unit is $12. d. If the price is $6, the quantity demanded is 18 units.  e. None of the above.