demand curve for product x is estimated to be linear and given by equation Qd = 150-3p and the supply curve for product x appears to be linear as well and is estimated Qs=P-10. Graphically draw these two curves labeling all relevant points such as intercepts for each line inn the horizonal and vertical axes.   Now, given the demand is Qd=150-3P and supply is Qs=P-10 the next assignment is to compute the equillirbium price and quantity in the market for product X, indicate on a graph.   changes in consumer

Ypsilanti Market Research conducted a survey to find out whether people who earn more money purchase more expensive goods. The following graph indicates the relationship between income the survey subjects earned and the price of the home that they purchased. PRICE (Thousands of dollars per home) 500 450 400 350 300 250 200 150 100 50 L 0 10 20 30 40 50 60 70 80 INCOME (Thousands of dollars per year) 90 100

The market for gravel has the following demand and supply relationships: Supply function: Q = 100P - 1,000 Inverse demand function: P = 50 - 0.01*Q + PX, where P represents price of gravel per ton in dollars, Q represents sales of gravel per week in tons, and PX is the price of some other product X in dollars per unit. Let PX = $50/ton In a diagram, qualitatively describe the change that would occur in the market for gravel (i.e. equilibrium price and quantity) if a new discovery has just made the production of product X cheaper. Briefly explain whether it is a movement along or shift of demand curve and supply curve for gravel. In addition to the new discovery regarding product X in previous question), suppose now workers producing gravel ask for sick leave due to COVID. Use supply and demand analysis to predict how these two shocks will affect equilibrium price and sales. Illustrate your results in a diagram. Is there enough information to determine if market prices will rise or…

Suppose that you are the vice president of operations of a manufacturing firm that sells an industrial lubricant. Further suppose that your economist gives you the following supply and demand equations: Supply equation: QS = 0.5P-20 Demand equation: P = 100 a ) Calculate the equilibrium price and quantity that characterizes this good b) Graphically show the market equilibrium price and quantity you found in part a). Please label this point "A". c) Suppose that the local government imposes a $4 per-unit sales tax on consumers. Calculate the new equilibrium price and quantity that characterizes this good under this new scenario. d) Graphically show the new market equilibrium on the graph you drew in part b). Please label this point "B".

Q2 The market equilibrium price and quantity of a good may be found by solving the simultaneous equations: Q + 3P = 48 (1) Q – 2P = 30 (2) (a) Explain which of these equations represents the supply curve and which represents the demand curve. (b) If the demand curve were to be drawn with Q on the horizontal axis and P on the vertical axis, state the values of the slope and vertical intercept. (c) Determine the equilibrium price and quantity algebraically.

I need some help  Consider the equations and graphs for the demand and supply functions given below. Then answer the following questions. P=5Q^2+72Q P=-Q^2-3Q+20.23 State the domain for these curves for the analysis to be valid. (Answer to 2 decimal places)

Include correctly labeled diagrams, if useful or required, in explaining your answers. A correctly labeled diagram must have all axes and curves clearly labeled and must show directional changes. If the question prompts you to “Calculate,” you must show how you arrived at your final answer.     Assume that sugar-based soft drinks are produced in a market shown on the graph above. Answer the following questions based on the information given in the graph. (a) To reduce the consumption of sugary soft drinks, suppose the government imposes a $2 per-unit sales tax on soft drinks. (i) Will the price of soft drinks increase by the full amount of the sales tax? Explain. (ii) Calculate the tax revenue the government can collect from the sale of soft drinks. Show your work. (iii) Will the consumer surplus increase, decrease, or stay the same after the tax? (iv) Calculate the deadweight loss created by the tax. Show your work.   (b) Suppose that instead of imposing the per-unit sales tax,…

please help with #4

If the demand functions are determined as follows : (In the picture) Find : B. Draw the graph

e Price -Q₁ Quantity Which of the following scenarios is BEST represented in the graph? A number of sellers increase B decrease in government taxes C resource costs increase D technology improves