Consider a perfectly competitive market for apples, with the following demand and supply equations: D: P = 2,000 – Qd S: P = Qs – 1,990 equilibrium price: $5 equilibrium quantity: 1995 A farmer, Jodi, faces the following marginal cost: MC = q – 2, and is making profit in the shortrun. What is the equilibrium price and quantity for farmer Jodi?

Please no written by hand solution Question 1:   The wheat market is perfectly competitive, and the market supply and demand curves are given by the following equations: QD = 20,000,000 - 4,000,000P QS = 7,000,000 + 2,500,000P, where QD and QS are quantity demanded and quantity supplied measured in bushels, and P = price per bushel. a. Determine consumer surplus at the equilibrium price and quantity. Provide a fully labelled diagram to support your answer. Show all intercepts, equilibrium  label axis and curves fully.

Consider a perfectly competitive world, the demand and supply are given by Qd = 20 – 3*P and Qs = 4*P.  If the price is $10 How much is the excess supply or the excess demand?

Assume the market for organically-grown produce is perfectly competitive. All else being equal, as farmers find it less profitable to produce and sell organic produce in this market, Select one: a. the demand curve will shift to the left and the equilibrium price will decrease. b. the supply curve will shift to the left and the equilibrium price will increase. c. the supply curve will shift to the right, the demand curve will shift to the left, and the equilibrium price will decrease. d. the supply curve will shift to the left, the demand curve will shift to the left, and the equilibrium price will increase. e. the demand will shift to the right and the equilibrium will price neither increase nor decrease

Suppose the celery industry is competitive. The (inverse) market demand schedule is: p= 1000.1QD The (inverse) market supply schedule is: Find the following in equilibrium. a. Competitive market output level = b. Competitive market price = $ c. Consumer surplus = $ d. Producer surplus = $ MC = 4+0.2Qs units

The market demand and supply equations for a product of a perfectly competitive industry. Qd=60-10P Qs=30+2.5P Where Q is quantity and P is price. Required: i.What is the equlibrium price and quantity? ii.Suppose that an increase in income resulted in the new demand equation Qd=80-10P What is the new equilibrium price and quantity? Suppose the government enact a legislation that imposes a price equivalent to the original equilibrium price.What kind of price legislation is this?Explain two implications of such a price control.

what is the market equilibrium point (in ordered pair)

Market demand is given as Qd = 80 – 2P. Market supply is given as Qs = 2P. In a perfectly competitive equilibrium, what will be price and quantity traded in the market?    A. price will be $20 and quantity will be 10  B. price will be $20 and quantity will be 40  C. price will be $40 and quantity will be 20  D. price will be $10 and quantity will be 20

If demand for the peach industry is given by P=100-.04Q and supply is given by P=.01Q.Assume the market is perfectly competitive. What is the market price? $

Consider a competitive market with a downward sloping demand curve and an upward sloping supply curve. If supply increases, the market price ✓ and the market quantity If demand increases, the market price If both supply and demand increase, the market price quantity ✓and the market quantity ✓ and the market