Calculate the equilibrium price and quantity in the market

Assignment Help Econometrics

Reference no: EM13244530

Market research has revealed the following information about themarket for chocolate bars: The demand schedule can berepresented by the equation Qd =1,600 - 300P whereQd is the quantity demanded and P is the price. The supply schedule can be represented by the equationQs =1,400 + 700P where Qs is thequantity supplied. Calculate the equilibrium price andquantity in the market for chocolate bars.

Reference no: EM13244530

Questions Cloud

Articles of confederation : What powers were granted to the federal government under the Articles of Confederation?

Calculate income elasticity of demand as income increases : Use the midpoint method to calculate your price elasticity ofdemand as the price of compact discs increases from $8 to $10 if(i) your income is $10,000 and (ii) your income is $12,000. And calculate your income elasticity of demand

Compute the molar concentration of h : If the pH of the solution is 5.4, calculate the molar concentration of H^ + (aq) in the solution.. In (M)

Explain reacting bromobenzene with a mixture of nitric : is it possible to synthesize 1-bromo-4-nitrobenzene by reacting bromobenzene with a mixture of nitric and sulfuric acids. However, 1-bromo-4-nitrobenzene is not obtained if nitrobenzene is reacted with Br2/FeBr3. Explain the difference

Calculate the equilibrium price and quantity in the market : Market research has revealed the following information about themarket for chocolate bars: The demand schedule can berepresented by the equation Qd =1,600 - 300P whereQd is the quantity demanded and P is the price.

Find the angle x for the resultant force on the boat : Two tugs A and B pull a ship along a direction XO. Tug A exerts a force of 30kN at an angle of 15 degrees to XO, Find the angle X for the resultant force on the boat to be along XO

Probability that only one bus will arrive : On average, a National Express coach arrives every two hours. What is the probability that only one bus will arrive in a four hour period?

Show what happens in the market for tv screens : Consider the markets for DVD movies, TV screens, and tickets atmovie theaters. For each pair, identify whether they arecomplements or substitutes: 1) DVDs and TV Screens - compliments;2) DVD and movie tickets, substitutes

How much heat is produced in burning in standard condition : How much heat is produced in burning 5 mol of CH^4 under standard conditions if reactants and products are brought to 298 K and H20(l) is formed

User Account

All Pages