Kinh Te Vi Mo

MICROECONOMICS

1. chore 1:

Demand And Supply buy the farms in a grocery of product X are given as follows:

(D):Q = - 5P + 70

(S): Q = 10P + 10

a. Identify the merchandise offset set and measuring rod

b. Calculate the price Elasticity of Demand (Ed) at the Equilibrium point. What will price strategy of a seller to maximize the revenue?

c. If the presidency sets the price to be P = 3$, what happens in the marketplace?

d. If the bill supplied reduces by 50%, what will be the rising sense of balance price?

Problem 2: Demand function of Apple (Agricultural product) is given as: Q = 100 P/2

The quantity supplied of Apple last year was 80 tons. Unfortunately, due to bountiful weather, it was only 70 tons this year.

a. Graphically illustrate the market consider and supply curves of Apple.

b. Identify the equilibrium price in the market.

c. Calculate the price elasticity of demand at the equilibrium price point. Compare revenue of the gardeners this year to that of the previous year.

d. If the political science impose a little tax of t= 5 $/ kg, what will be changes in the equilibrium price and quantity? Who pay for the tax?

Problem 3.. The market of product X is in the equilibrium state. The equilibrium price and quantity are Pe = 10 and Qe = 20.



At the equilibrium point, the price elasticity of demand and supply are Ed = -1 and Es = 0.5.

Assume that both demand and supply curves are straight lines.

a. Identify the market demand and supply functions.

b. Now the government imposes a precise tax of t /unit, which makes the quantity supplied reduce by 20 % at every price level, identify the new equilibrium price and quantity in the market.

c. If the government sets the price of P = 14 $ and promises to buy the unsold products, how much does it pay for this policy.

Problem 4. Weekly quantity demanded of product X is given as follows:

Q = 600 0.4 P

a. If the price of X is P = 1200 $, what will be the...If you loss to get a full essay, order it on our website: Orderessay



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