The demand for hamburgers is given by Qd = 8,000 – 7,000P, where Qd is the quantity demanded and P is the price. The supply for hamburgers is given by Qs = 4,000 + 1,000P, where Qs is the quantity supplied and P is the price.   If the price is €1.0, will there be a surplus or a shortage of hamburgers? Determine the amount of a shortage (surplus)

Suppose the demand for organic bananas is given by the following equation: Qd = 10 - 1P where Qd is the quantity demanded per week of organic bananas, and P is the price of organic bananas. Suppose further that the supply of organic bananas is: Qs = 3 + 2P where Qs is the quantity supplied per week of organic bananas. What is the equilibrium market quantity of organic bananas? (Round your answer to 2 decimal places.)

Consider two markets: the market for waffles and the market for pancakes. The initial equilibrium for both markets is the same, the equilibrium price is $6.50, and the equilibrium quantity is 35.0. When the price is $9.75, the quantity supplied of waffles is 57.0 and the quantity supplied of pancakes is 101.0. 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. Supply in the market for waffles is

Chapter 2 Problem #5. Suppose the demand and supplycurves for a product are given by QD= 500 −2PQS=−100 + 3Pa. Graph the supply and demand curves.b. Find the equilibrium price and quantity.Qd= Q3500-2P= -100+3PP= Pe = 120 & Qe=260The equilibrium price is $120 and the quantity is 260c. If the current price of the product is $100, what is thequantity supplied and the quantity demanded? How would you describe thissituation, and what would you expect to happen in this market?d. If the current price of the product is $150, what is thequantity supplied and the quantity demanded? How would you describe thissituation, and what would you expect to happen in this market?e. Suppose that demand changes to QD= 600 – 2P.Find the new equilibrium price and quantity, and show this on your graph.***PLEASE SHOW ALL EQUATIONS AND METHODS,