Determine the equilibrium price and quantity and demonstrate

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Reference no: EM13838690

Consider the following weekly supply and demand tables for product X:

P Qd Qs

13 10 35

12 15 30

11 20 25

10 25 20

9 30 15

8 35 10

7 40 5

6 45 0

A. Draw the supply and demand curves on the same diagram. Determine the equilibrium price and quantity and demonstrate it in your graph.

B. Demonstrate the impact of a government price control set at P = $12 also P=$8.00. Demonstrate by number and in the graph. Discuss your answer.

C. show the new equilibrium P & Q supply and demand increase %20

D. Calculate the ARC elasticity of demand when the price move from $6 to$10

Reference no: EM13838690

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