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- vSuppose that supply and demand for a certain commodity are described by the supply curve, p=0.0001q+0.005 , and demand curve, p=-0.002q+62.00 . Determine the quantity of the commodity that will be produced and the selling price.Problem The average of price of Guess bag is 45 KD, the average price of Louis Vuiton bag is 2500KD. Use the Supply and Demand to Analyze why the price of these two bags are different.What is the likely demand for the product?
- Suppose that the demand and supply schedules for raisins in South Carolina are as fallows, quantitiesare measured in millions of packs per month. What is the quantity of raisins bought if the price is 50cents ? Price (cents per pack) Quantity demanded20 18030 16040 14050 12060 10070 8080 60 a) 120b) 180c) 100What is the relationship between TR, Price and quantity sold?In the given supply schedule, make a supply curve and reflect the following situations by making the curve. Draw also the demand curve to determine the equilibrium. Mark the equilibrium price Situation Price (P) Quantity (Q) A 650 6000 550 5000 450 4000 D 350 3000 E 250 2500 F 150 2000
- Explain how the equilibrium, or market, the price of a product is examined.PRICE (Yen per gram) 100 90 80 70 60 40 30 20 10 0 0 0 Demand + 20 40 60 80 100 120 140 160 180 200 QUANTITY (grams of uff per month) Graph Input Tool Demand for Uff Price of Uff (Yen per gram) to eat my uff this morning, but there wasn't any Quantity Demanded DEMAND SHIFTERS Average Income -(Yen per month) Price of Tulg (Yen per gram) Price of Snick (Yen per gram) Of Suppose that the price of a gram of uff decreased from 50 yen to 40 yen. This would cause a an increase in 50 100 100 20 50 Plug any value lower than the current number into the Average Income box. A decrease in average income causes a leftward the demand curve. the demand curve and therefore When the prices of tulg or snick change, there is a shift of the demand curve for uff. The directions of these changes imply that snick and uff are , and that tulg and uff are . For example, a Hermetian might say, "I went in my fridge. So instead of having uff for breakfast, I ate someWhen supply increases, the effect is a large decrease in price and a small increase in quantity demanded, consumers are responsive to the change in price O consumers are not responsive to the change in price O producers are not responsive to the change in price O producers will increase price.
- Do you agree with the following statements? Give reasons. (a) There are some exceptions to the law of demand.(b) There are no exceptions to the law of demand.(c) When the price of petrol rises, the demand for cars decreases. (d) Demand is a relative term(e) Price is the sole determinant of demand. (f) Demand curve can never have an upward slope.What is SupplyWhich term is used to describe the want satisfying power of a commodity or a service?[A] Demand[B] Want[C] Utility[D] Consumption Please dont use any ai tool. Thank you
