Assume that the market can be represented by the supply and demand curves: Qs = 6P - 60 Qp = 60-4P If the price is 14 (P-14) then the quantity (Q) at market disequilibrium would result in A shortage of 20 units A surplus of 20 units A surplus of 24 units A shortage of 24 units

Suppose it is known that the number of goods "X" demanded and offered at two different price levels is as shown in the following table: Price Amount Requested (Unit) Amount Offered (Unit) (IDR) 120 160 180 150 2400 2000 Based on the data in the table above, determine the demand function (Qd) and the supply function (Qs) of the goods "X", and determine the market equilibrium point and draw a graph of the market balance!

Find the equilibrium point of the demand and supply equations. Demand Supply p = 370 - 0.0003x p = 136 + 0.0006x (x, p) =

This question provides another chance to practice implementing the 4-step approach to analyzing shifts in supply and demand. With the onset of the coronavirus pandemic, many people became fearful of going to restaurants for full-service, sit-down meals.   C) As the demand decreased, the supply turned into a surplus. As the demand for restaurant meals has decreased, there is an excess of restaurant meals.   D) Based on your answer to part c., will the equilibrium quantity of restaurant meals go up or will the equilibrium quantity of restaurant meals go down? Explain your answer. In particular, will your answer focus on quantity demanded or will it focus on the quantity supplied?   E)  Result: state the effects of the fear of eating in restaurants on the equilibrium price and quantity of restaurant meals

The demand and supply functions for two independent goods are given by: QD₁ = 502P₁ + P₂ and QD2 = 10 + P₁ - 4P₂ Qs1 = -21 + P₁ and Qs2 = -10 + 5P₂ Show that in equilibrium: R=2 Find the equilibrium prices.