Question 3 The equations for demand and supply of a market are given below. Q is quantity, and P is price in the market. = 1000 – 2P = 500 + 3P How much is equilibrium quantity and equilibrium price (show your work)? Remember, at equilibrium the quantity demanded equals the quantity supplied. a. Explain what will happen if there is an effective price control of $50, imposed by the government in this market. Using this data, please graph the market. Label the vertical P, from 0 to 150 using incre- ments of 50. On the horizontal Q, from 0 to 1000 using increments of 100. Show the new quantity demanded and quantity supplied in the model. What type of price control is in this question; what b. does it create in the market?

2. Consider the Table below representing the number of 21-inch colour TV's individuals are willing to purchase in Ndola and Kitwe: Price Quantity Demanded-Kitwe Quantity Demanded- Ndola К350 100 75 К325 150 100 К300 200 125 K275 250 150 K250 300 175 a) Plot these data, with price (P) on the vertical axis and quantity (Q) on the horizontal axis. Connect the points for quantity demanded in Ndola and Kitwe. Lebel the Ndola line D1 and the Kitwe line D2). b) Find the increase in the quantity of TV units purchased in Ndola and Kitwe when the price of TV's is lowered from K300 to K275. c) Find the slope of the Demand lines D1 and D2 when the price is lowered from кз00 to K275. d) What does the difference in the slope of demand lines D1 and D2 indicate? e) Obtain the National demand schedule if Kitwe and Ndola were the only cities in the country. f) Explain what will happen to demand for TVs if one of the following happen i) ii) iii) Price of DSTV increases There is a wage freeze in the…

1. Use the graph below to answer the questions that follows: Price Dollars per gallon GH¢9.00 GH¢7.00 GH¢4.00 12,000 18,000 30,000 Quantity (gallons per day) d. Suppose imposition of maximum price legislation reduced the price oil from the equilibrium price to the maximum price control price. Calculate: Price elasticity of demand Price elasticity of supply i. ii. e. From your calculation, which of the two curves is more elastic? Explain your answer.

Hi, may I please get help with question (d), (e), (f)? I already got answers for the first 3.

Help me answer questions 1 and 2! Please and thank you

Above is the supply and demand graph in a market. Answer the following questions based on the graph: 3.1. What are the equilibrium price and quantity in the market?  3.2. What are the quantity supplied, quantity demanded, and price at a shortage of 400 units?  3.3. Whar are the quantity supplied, quantity demanded, and price at a surplus of 200 units?

Analyze the following statements and categorize them into Determinants of Demand(DD) or Determinants of Supply (DS)._________6. There is a change in Quantity Supplied because of the increasing cost ofproduction.

Question attahed in image

Q2- Price $ 10.00 20.00 30.00 40.00 50.00 60.00 70.00 Quantity Demanded 28 24 20 16 12 8 4 Quantity Supplied 0 3 6 9 12 15 18 Use the information in the table above to: a. find the equilibrium price and quantity. b. Graph the demand and supply curves and identify the equilibrium price and quantity.

Please do C