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Let the following
D = 5p ́ ́-4p ́ + 11
S = 6p ́ ́-2p ́ + 5p-4
Find p (t) with the hypothesis that the market is in equilibrium with the conditions
initials p (0) = 4 and p ́ (0) = 7
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- The quantity demanded x each month of Russo Espresso Makers is 250 when the unit price p is $150; the quantity demanded each month is 1000 when the unit price is $120. The suppliers will market 750 espresso makers if the unit price is $50. At a unit price of $80, they are willing to market 3000 units. Both the demand and supply equations are known to be linear. (a) Find the demand equation.p = (b) Find the supply equation.p = (c) Find the equilibrium quantity and the equilibrium price. equilibrium quantity units equilibrium price $Demand and Supply functions are expressed by the following linear equations when the market of a good is in equilibrium: Qd = 20 - 7P and Qs = - 4 + 5P. Find the equilibrium quantity. * %3DThe quantity demanded each month of Russo Espresso Makers is 250 when the unit price is $140. The quantity demanded each month is 1000 when the unit price is $110. The suppliers will market 750 espresso makers when the unit price is $76 or higher. At a unit price of $96, they are willing to market 2250 units. Both the supply and demand equations are known to be linear. (a) Find the demand equation. P = (b) Find the supply equation. p= (c) Find the equilibrium quantity and the equilibrium price. units $
- The demand and supply functions for a particular commodity are D(x) = 80e-0.001x and S(x)= 30e0.001r , where x is the number of units of the product, D(x) is the price that results in a consumer demand of x units and S(x) is the price that results in a producer supply of x units. a. Find the equilibrium point using your calculator and identify the equilibrium units and price. Give your answers to the nearest whole unit and nearest dollar. The value of x at equilibrium is units. The value of p at equilibrium is b. Determine the consumers' surplus.An economist estimates that a market has a demand curve of the form P = 26 - (0.867) Q and a supply curve of the form P = 0.5 + (1.21) Q. (See the curves graphed in the figure below.) Accordingly, she estimates that the equilibrium price ( P e) in the market will be $15.36 (or $15.355561). This means that the amount of the product bought and sold in the market must be ____.A stadium can seat 60,000 people. Assume 35% of seats are not occupied (not for sale) because of Covid-19 and social distancing requirements. You are told that the current price of tickets is $70 and that the demand is linear and that the demand function (Qd) = 60,000 - 250P. examine the market for tickets for games at the stadium during these Covid times. You should Illustrate themarket for tickets using a demand and supply diagram. Show all your calculations and properly label the diagram. At $70 a ticket the cap on the number of seats available (because of Covid restrictions) is creating a shortage. How many people miss out on tickets when they are priced at $70 per ticket?
- Suppose the makers of PEZ candies have decided to test market a new dispenser with red, white, and blue candies. The PREZ dispenser (as it will be called in 2024) bearing the likeness of each political party's presidential candy-date is estimated to have a market demand given by: 5Q = 3000 - 200p where p is expressed in dollars per dispenser and Q is expressed in thousands of dispensers sold per week. a. If p= $6 per PREZ dispenser, how many PREZ dispensers will be sold that week? Less than a thousand? b. If p = $6 per PREZ dispenser, what will be the price elasticity of demand? PLEZ show your work. c. If the objective is to maximize revenue, how much would you recommend the company charge per PREZ dispenser?Suppose the demand for bicycles is given byQp = 10,000P- and the supply of bicycles is given by Qs = 0.01P3. (a) Using calculus and the given supply and demand curves, find mathematical expressions for the elasticities of demand and supply as a function of the price. Use these expressions to demonstrate that both curves have constant elasticity along their entire length. (b) Find the equilibrium price and quantity in this market mathematically.An economist estimates that a market has a demand curve of the form P = 37- (1.23) Q and a supply curve of the form P = 1 + (0.984) Q. (See the curves graphed in the figure below.) Accordingly, she estimates that the quantity equilibrium (Qe) in this market will be 16.26 (or 16.260163) and that the equilibrium price (Pe) in the market will be. (Answer may be rounded to nearest hundredth.) Supply X Demand Q OA. $20.84 O B. $12.20 O C. $23.00 O D. $17
- Essay 3 - 20 points As the manager of a local hotel chain, you have hired an econometrician to estimate the demand for one of your hotels (H). The estimation has resulted in the following demand function: QH - 2.25PSE + 0.8POH + 0.01M, where PH is the price of a room at your hotel, Pc is the price of concerts in your area, Pse is the price of sporting events in your area, PoH is the average room price at other hotels in your area, and M is the average income in the United States. What would be the impact on your firm of: a. A $500 increase in income? b. A $10 reduction in the price charged by other hotels? c. A $7 increase in the price of tickets to local sporting events? d. A $5 increase in the price of concert tickets, accompanied by an $8 increase in income? 2,000 – PH- 1.5Pc %3D -Use a matrix method to find the equilibrium prices and quantities where the supply and demand functions for Good 1, Good 2 and Good 3 are as Qd1 = 50 − 2P1 + 5P2 − 3P3, Qs1 = 8P1 − 5 Qd2 = 22 + 7P1 − 2P2 + 5P3, Qs2 = 12P2 − 5 Qd3 = 17 + P1 + 5P2 − 3P3, Qs3 = 4P3 − 1The demand function of a good is given by p(Qd ) = 160 – Qd and the supply function by Qs = 150. a) Calculate the equilibrium price. Represent graphically. b) If supply changes to Qs = 120: What would be the new equilibrium price? Represent graphically. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.