Price per Slice DEMAND AND SUPPLY FOR A SLICE OF ROY'S FAMOUS PIZZA Number of Roy's Famous slices people will to buy at this price (in thousands) Number of slices Roy can supply at this price per slice (in thousands) Shortage (-) or Surplus (+) A $3.50 80 200 B $3.25 100 180 C $3.00 120 160 D $2.75 140 140 E $2.50 160 120 FL $2.25 180 100 G $2.00 200 60 5. Explain what condition would exist in the market if the price of a pizza slice was above the equilibrium, and what condition would exist in the market if the price of pizza slice was below the equilibrium.

The following calculator shows the demand curve for sedans (for example, Toyota Camrys or Honda Accords) in New York City. For simplicity, assume that all sedans are identical and sell for the same price. Initially, the calculator shows market demand under the following circumstances: Average household income is $50,000 per year, the price of a gallon of regular unleaded gas is $4 per gallon, and the price of a subway ride is $2.00. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. 8 PRICE (Thousands of dollars per sedan) 30 10 0 0 Demand for Sedans Demand 100 200 300 400 500 600 700 800 900 QUANTITY (Sedans per month) Graph Input Tool Demand for Sedans Price of a sedan (Thousands of dollars) Quantity Demanded (Sedans per month) An increase in average income causes a rightward…

I don't understand the concept for this.

You own a hot dog stand that you set up outside the student union every day at lunch time. Currently, you are selling hot dogs for a price of $3, and you sell 30 hot dogs a day (point A on the diagram). You are considering cutting the price to $2. The graph shows two possible increases in the quantity sold as a result of your price cut. Use the information in the graph (new quantities are given on the horizontal axis) to calculate the price elasticity between these two prices on each of the demand curves. Use the midpoint formula to calculate the price elasticities. A On the demand curve containing the points "A" and "B", the price elasticity of demand for a price cut from $3 to $2 is|. (Hint: Include the negative sign and enter your response rounded to two decimal places.) D2 On the demand curve containing the points "A" and "C", the price elasticity of demand for a price cut from $3 to $2 is. (Hint: Include the negative sign and enter your response rounded to two decimal places.) :37…

Imagine that you run the toll authority for a city bridge. You must charge all of your customers the exact same toll. Initially, you have set the price at $7 per trip. The blue line on the following graph shows the daily demand curve for trips across the city bridge. On the following graph, use the purple rectangle (diamond symbols) to shade the area representing the total daily revenue when the toll is $7 on the graph. Notice that when you click on the rectangle, the area is displayed. TOLL (Dollars per vehicle) 10 9 8 7 4 2 1 0 0 Demand 10 20 30 40 50 60 70 80 QUANTITY (Thousands of vehicles per day) 90 When the toll is $7, total revenue is $ 100 TR at $7 TR at $8 An advisor has suggested that if you raise the toll to $8, the toll authority would bring in more revenue. To analyze this, use the green rectangle (triangle symbols) to shade the area representing the total daily revenue when the toll is $8 on the graph. thousand per day, but when the toll is $8, total revenue is $ Based…

Consider two markets: the market for motorcycles and the market for pancakes. The initial equilibrium for both markets is the same, the equilibrium price is $4.50, and the equilibrium quantity is 29.0. When the price is $7.75, the quantity supplied of motorcycles is 65.0 and the quantity supplied of pancakes is 103.0. For simplicity of analysis, the demand for both goods is the same. Using the midpoint formula, calculate the elasticity of supply for pancakes. Please round to two decimal places.

The following graph illustrates the weekly demand curve for motorized scooters in Roanoke. Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand curve. Note: You will not be graded on any changes made to this graph. PRICE (Dollars per scooter) 300 275 250 200 175 150 125 100 75 50 0 0 + 3 6 9 x 4 * B Demand 12 15 18 21 24 27 QUANTITY (Scooters) 30 33 36 39 Total Revenue ?

Suppose Disney+ changes its monthly subscription price from $7 to $9 per month. Graphically show the impact of this price change in the following markets:   a. Popcorn, pizza, and other movie snacks   Instructions: Drag the supply or demand curve to its new position.     b. Netflix   Instructions: Drag the supply or demand curve to its new position.

if there is any diagram can you add it. Given the following demand and supply equations: QD = 10 - 0.8P + 5Y + A QS = -10 + P where Q = quantity (million units per month), P = price (€ per unit). Y = average monthly income (€000) and A monthly advertising expenditure (€000). Suppose average monthly income is €4,000 and monthly advertising expenditure is €50,000: (a) Find the market equilibrium price and quantity. (b) Find total welfare when the market is in equilibrium. (c) Find the price elasticity and income elasticities of demand and price elasticity of supply at equilibrium. Interpret your results. (d) What would be the effect of a price ceiling of €60? Explain. (e) Suppose a tax of €8 per unit is introduced: (i) What is the effect on market price and quantity? Explain. (ii) What is the impact of the tax on total welfare? Explain. (iii) How is the incidence of the tax shared between the consumer and the supplier? Explain

Suppose that Paolo and Sharon are the only suppliers of collectible action figures in a particular market. The following table shows their annual supply schedules: Price Paolo's Quantity Supplied Sharon's Quantity Supplied (Dollars per action figure) (Action figures) (Action figures) 10 A-Z 4 8. 18 6. 12 24 8. 14 28 10 16 30 On the following graph, plot Paolo's supply of collectible action figures using the green points (triange symbol). Next, plot Sharon's supply of collectible action figures using the purple points (diamond symbol). Finally, plot the market supply of collectible action figures using the orange points (square symbol). Note: Line segments will automatically connect the points. Remember to plot from left to right. 12 Paolo's Supply 10 Sharon's Supply MacBook Air F12 F11 F10 F9 FB F7 F6 吕0 F5 O00 F4 F3 * delete &