The supply function is given as :- 3Q² - 400 = P The value of equilibrium quantity is 15  Calculate the value of equilibrium price

The demand for watches is given by p= 7000 - 2q dollars and the supply of watches is given by p = 0.01q2 + 2q + 1000 dollars where q is the number of watches demanded and supplied when the price per watch is p dollars.  Based on the information provided calculate the equilibrium quantity and the equilibrium price for watches.

Consider the demand for soap shown in Figure 1 above. What is the quantity demand for soap if the price of a pound of soap is $5?      A) 210 pounds       B) 248 pounds       C) 286 pounds       D) 305 pounds

In a particular market, demand and supply curves are defined by the following equations: P=50 – 0.5QD QS= -20 + 2P where, P is the price in pounds, QS is the quantity supplied and QD is the quantity demanded. 1. What is the equilibrium price and quantity? 2. What is the price elasticity at a price of £35? 3. What do you expect will happen to total expenditure on this good if the price increases from £35 to £40? Is this expectation confirmed if you calculate the total revenue for each price?