Question 1  Suppose that the demand for toy drums is described by the equation QD = 300 - 5p, and supply is QS = 60 + 3p, (1) What are the equilibrium price and quantity?  (2) If a decrease in consumer income shifted the demand curve to QD’ = 220 - 5p, how does this change affect the equilibrium price and quantity? Show the solutions using a graph and calculate the numerical answer.

When a good becomes more trendy, is there a: change in demand/change in quantity demanded/change in supply/change in quantity supplied? Answer and explain in 2-3 sentences, then upload your answer to this folder.

Consider the following graph of a supply curve: Price P=Y Axis Quantity Q= X Axis Units of Y 2 C. D 3 6 B 9 Units of X 12 Write the linear equation and compute the slope and the intercept b. Write the equation for the 45 degree line starting at zero. Is this line above or below the supply curve? What would be the price for a supplied amount of 14?

The following is a copy of the equations from Question 1: Supply : Q = - 30,000 + 200,000P Demand : Q = 575,000 – 20,000P Solve for the equilibrium quantity of gasoline.

Hi, this question is difficult for me. Could you please help me?

In the market for widgets supply and demand are estimated as follows : P= 20-1.8 Qd and P= 2+Qs. Graph these curves and solve for equillibrium price and quantity

Suppose the equation for demand can be expressed as P = 40 – 2Q. The equation for supply can be expressed as P = Q. Find the equilibrium price and quantity. Be able to draw the graph that illustrates your answer.

Please give a detailed solution with an explanation. Please make sure the graph is visible, clear, and detailed. Make sure to include the new equilibrium coordinate point as well.

This problem involves solving demand and supply equations together to determine price and quantity. a. Consider a demand curve of the form QD=-2P+20, where QD is the quantity demanded of a good and P is the price of the good. Graph this demand curve. Also draw a graph of the supply curve Qs =2P-4, where Qs is the quantity supplied. Be sure to put P on the vertical axis and Q on the horizontal axis. Assume that all the Qs and Ps are nonnegative for parts a, b, and c. At what values of P and Q do these curves intersect-that is, where does QD = Qs ? b. Now, suppose at each price that individuals demand four more units of output-that the demand curve shifts to QD - 2P+24. Graph this new demand curve. At what values of P and Q does the new demand curve intersect the old supply curve-that is, where does QD = Qs ? c. Now finally, suppose the supply curve shifts to Q's=2P-8. Graph this new supply curve. At what values of P and Q does QD=Q's? Show all working calculations and label garph with…

What are some general factors that can impact the demand for a product and the supply of a product? Identify at least two factors for each and explain the different ways these determinants can shift supply and demand either left or right.