Determining equilibrium price-quantity

Assignment Help Financial Accounting

Reference no: EM13130855

Given the following demand and supply equations:

Demand: Q=100 - 5P

Supply: Q=20P

1. What is the equilibrium price?

2. What is the equilibrium quantity?

3. Using Excel and prices in the range of $1 to $10, generate the demand and supply schedules for the initial equations.

4. Use Excel to plot a graph of your demand and supply curves that include the equilibrium point.

5. What are the new equilibrium price and quantity if supply remains constant and demand increases so that the new demand equation is: Q = 150 - 5P?

6. What are the new equilibrium price and quantity if demand remains contant and supply decreases so that the new supply equation is Q = 2P?

Reference no: EM13130855

Questions Cloud

Stochastic model and deterministic model : What are mathematical model and computer simulation? What are stochastic model and deterministic model?

Lower of cost or market concept : If the cost of an item is $75, the currrent replacement cost is $64, and the selling price is $95, the amoount included in inventory according to the lower of cost or market concept is ??

Calculate the stp molar volume for oxygen : A 2.154 g sample of HgO produces 125 mL of oxygen gas. The gas is collected over water at 24 C and an atmospheric pressure of 763 torr.

Explain if this concept is relevant for personal finance : Why is it important to understand the difference between an originating temporary difference and permanent difference in a company? Explain if this concept is relevant for personal finance. ( Intermediate Accounting)

Determining equilibrium price-quantity : What is the equilibrium price? What is the equilibrium quantity? Using Excel and prices in the range of $1 to $10, generate the demand and supply schedules for the initial equations.

What is the revised depreciation expense : On January 1, 2004, Jeff decides that the business will use the equipment for a total of 5 years. What is the revised depreciation expense for 2004?

What are the ethical issues related to john ideas : John considers the problem and suggests to you that to generate positive cash flows, the company could sell some of its accounts receivable and liquidate much of its raw material. These actions would be detrimental to net income but would generate..

How many grams of ko2(s) is needed : A lungful of air (500 mL) contains 4.1% CO2 by volume. How many grams of KO2(s) is needed to remove the CO2 from a lungful of air at STP according to the following reaction?

Compute cholati branch profi ts tax : Compute Cholati’s branch profi ts tax, and determine its branch interest withholding tax obligations. Assume that Cholati does not reside in a treaty country.

User Account

All Pages