Suppose that Felix and Janet are the only suppliers of collectible action figures in a particular market. The following table shows their annual supply schedules: Price (Dollars per action figure) 2 4 6 8 10 Felix's Quantity Supplied Janet's Quantity Supplied (Action figures) (Action figures) 0 4 6 8 10 10 18 24 28 30

1. The estimated demand for Canadian Processed Pork is given by Qp = 171 – 20p+ 20pB + 3pc +2Y where Qp is the quantity of pork demanded (millions of kg), p is the dollar price per kg, pB is the price of beef per kg, pc is the price of chicken per kg, and Y is average consumer income in thousands of dollars. The supply for this market is given by Qs = 178 + 40p – 60pB (a) According to the equations, what is the effect of an increase of Pc on the market for pork? Specifically, which curve will shift, in what direction does the curve shift, and how will the equilibrium price and quantity change (increase/decrease). On a corresponding graph of the supply and demand, draw the shifting curve and change in equilibrium. Note that no specific numbers are required here. Just the direction of change. (b) Use the equations to solve for the equilibrium price of pork and quan- tity of pork as functions of the exogenous variables pB, Pc, and Y. These will be linear functions. (c) Suppose pB = 1.5,…

Refer to the demand and supply schedule shown in the table below.Please provide explanation to each question. Price ($) Quantity demanded (slices) Quantity supplied (slices) 0.00 350 0 0.50 300 100 1.00 250 150 1.50 200 200 2.00 150 250 2.50 100 300 3.00 50 350 3.50 0 400   If pizza parlours charge $3.50 per slice, there will be an excess:   demand of 400 units. supply of 400 units. demand of 200 units. supply of 200 units.     If pizza parlours charge $1.00 per slice, there will be an excess:   supply of 100 units. demand of 150 units. demand of 100 units. supply of 150 units.     The equilibrium price is $ per slice, and the equilibrium quantity is                       slices of pizza.   References   Worksheet           Learning Objective: 03-06 Explain how supply and demand interact to drive markets to equilibrium.                       In each of the following examples, name the factor…

Determine the equilibrium price and quantity for the following laws of demand and supply in the manufacture of computer parts Demand: 3p + 5x = 200Bid:          7p - 3x = 56

The following table indicates the demand schedules for four types of consumers A, B, C, and D and the number of consumers in each group (top row). The quantity demanded by each type of comuner (GxGO and O shown for market prices ranging from $10 down to $4 What is the combined quantity demanded at a market price of $77 Number of Consumers A = 200 B=300 Q C=300 D=200 Market Price QA Q Q $10 D 0 1 1 D 1 2 3 1 3 3 3 4 7 $ 9 6 11 OC 4700 OD 3.000 OA 25.000 4.750 9 S 2 3 4 5 MI 5 8 11 16 20

Subject: Economics    1.) The demand equation for the Drake GPS Navigator is x + 4p − 1070 = 0, where x is the quantity demanded per week and p is the wholesale unit price in dollars. The supply equation x − 19p + 1000 = 0, where x is the quantity, the supplier will make available in the market each week when the wholesale price is p dollars each. Find the equilibrium quantity and the equilibrium price for the GPS Navigators. (a) equilibrium quantity=   units(b) equilibrium price $=

Suppose that Jacques and Kyoko are the only consumers of scented candles in a particular market. The following table shows their annual demand schedules: Price (Dollars per candle) 2 4 6 8 10 Jacques's Quantity Demanded Kyoko's Quantity Demanded (Candies) (Candles) 12 28 6 20 4 12 2 6 0 2

A baker will supply 17 jumbo cinnamon rolls to a cafe at a price of $3.91 each. If she is offered $3.15, then she will supply 4 fewer rolls to the cafe. The cafe's demand for jumbo cinnamon rolls is given by p = D(x) = -0.48x + 8.05. What is the equilibrium point? ___ rolls at a price of $ ___  each

Suppose the Canadian demand for and the Japanese supply of cars to Canada is shown in the table below (quantities in thousands). Quantity Supplied (before tariff) Quantity supplied (after tariff) Price ($) 13,000 14,000 15,000 16,000 17,000 18,000 19,000 20,000 Quantity Demanded 170 150 130 110 90 70 50 30 50 70 90 110 130 150 170 190 a) The present equilibrium price is $ and quantity is b) Suppose that the Canadian government imposes a $2,000 per car tariff on imported Japanese cars. Show the new supply in the last column above. thousand. thousand. c) The new equilibrium price is $ and quantity is d) The total revenue received by the government will be $ e) Assume, instead, that the government imposes an import quota of 90,000 cars. The new equilibrium price is $ quantity is thousand. f) Does the government now receive any revenue? No million. and

Suppose you are given the following supply and demand equations for your company's product, executive fountain pens: Qd = 12,000 - 2P + 3Py - 5Pn - 2Pk + 4M + 3A Qs = 8,000 + 4,000P - 7Pm - 3Pw where:   Qd = quantity demanded of fountain pens Qs = quantity supplied of fountain pens P = price per unit of fountain pens Py = price per unit of pencils Pn = price per unit of notebooks Pk = price per bottle of ink M = consumer income A = number of units of advertising purchased by the company Pm = cost of purchasing materials (inputs) for fountain pens Pw = cost of hiring a worker (wage rate) a) given the signs of the coefficients in the demand equation, how does the demand for fountain pens react to each variable (i.e., substitutes, complements, normal good, inferior good)?   b) given the signs of the coefficients in the supply equation, how does the supply for fountain pens react to each variable?   c) suppose you are given the following data:   Py = $10 Pn = $15 Pk = $8 M = $20,000 A =…