Consider a competitive market for apartments in Bandung. What is the effect on the equilibrium price and quantity after the following (ceteris paribus)? In each case, explain your answer using the supply and demand curves. e. Increase in wages for construction workers by 20%

1. What is the equilibrium price? What is the equilibrium quantity? Suppose P_c goes up to 14. New equilibrium price?  New equilibrium quantity?

QUESTION 15 Consider a market where supply and demand are given by Qx = -10 + Px and Qxd=56-2 Px. What is the equilibrium price?

Assume that the monthly demand for Gala apple in the US is given by q=1200-300p and quantity is in million pounds. The monthly supply of Gala is q= -200+400p for p>$0.5. CS and PS are equal to

Market research has revealed the following information about the market for lamps: The demand schedule can be represented by the equation QD = 24 - 3P, where OD is the quantity demanded and P is the price. The supply schedule can be represented by the equation Os-4 + 2P, where Qs is the quantity supplied. (Show all your work).  a) Sketch the demand and supply curves, carefully labeling your intercepts. b)Calculate the equilibrium price (P*) and quantity (Q*) in the market for lamps.  c) If the market price was artificially set at P-$6, what kind of imbalance would this create in the market (surplus or shortage)? Of exactly how much? d) If the market price was artificially set at P-$2, what kind of imbalance would this create in the market (surplus or shortage)? Of exactly how much?

Question 33 Consider the following series of shifts in Supply and Demand. Complete the following table, indicating in each of the 9 cells whether equilibrium price and equilibrium quantity go up, down, or stay the same. (Note: To reproduce the table for this question, you may make an exception to the usual 'no cutting and pasting' requirement for this test.) No Change in Supply An Increase in Supply A Decrease in Supply No Change in Demand An Increase in Demand A Decrease in Demand

2. Consider a competitive market for apartments in Bandung. What is the effect on the equilibrium price and quantity after the following (ceteris paribus)? In each case, explain your answer using the supply and demand curves. a. Increased level of consumer income.