ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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- In this problem, p is in dollars and x is the number of units. The demand function for a certain product is p = 144 – x² and the supply function is p = x² + 2x + 104. Find the equilibrium point. (x, p) = ( Find the consumer's surplus there. (Round your answer to the nearest cent.) 2$arrow_forwardThere is a hypothetical market for bottled water. The market demand and supply are QD = 1150 – 100P and QS = -100 + 40OP. a) Find the equilibrium price and quantity.arrow_forwardDemand for Corn Flakes is: P = 17 - Q. Supply of Kellogg's Corn Flakes is: P = 2 + Q. Now a generic company enters the market, selling generic Corn Flakes for $5. Assume consumers are indifferent between generic and Kellogg's Corn Flakes. How many boxes of corn flakes will sell in total (both brand and generic)? Enter as a value.arrow_forward
- Let Qd = 30 - 6 P and Qs = 9 P be the demand and supply curves for soft drinks. Then the equilibrium combination in the market is: a. P* = 2; Q* = 18 b. P* = 2; Q* = 15 c. P* = 18; Q* = 2 d. P* = 10; Q* = 90arrow_forwardThe demand for brownie dishes is q(p)=361,201-(p+1)^2 where q is the number of dishes they can sell each month at a price of p cents. Use this function to determine a) the number of dishes they can sell each month if the price is 50 cents, b)the number of dishes they can unload each month if they give them away, and c)the lowest price at which they will be unable to sell any dishesarrow_forwardGiven a demand curve of P = 165 - 6Qd and supply of P = 65 + 5Qs, find the equilibrium price (Pe), AFTER lower input costs have shifted supply by 4 dollars.arrow_forward
- Mary sells bottles of lemonade. The demand factor for her lemonade is given by D(q)=100-1.5q and the supply function is S(q)= .75q, where q is quantities of bottles produced. What is price paid by consumer when q=20.arrow_forwardFind the supply equation using the given information. (Let x be the number of items.) At a price of $1400 a supplier will supply 170 items. If the price decreases by $100, then the supplier will supply 20 fewer items. S(x) =arrow_forwardIf the demand function for a company is given by the equation p= -(16+4)q+(16+16000), and the supply is given by the equation q=(16+550)-p. Find the equilibrium point.arrow_forward
- The supply function for a product is 2p − q − 60 = 0, while the demand function for the same product is (p + 20)(q + 10) = 8100. Find the market equilibrium point.arrow_forwardDemand and Supply functions are P=-2Qd+50 and P=0.5Qs+25, the equilibrium output is: 9 11 12 8 10arrow_forwardanswer quicklyarrow_forward
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