What is the value of the d term in the market supply curve

Reference no: EM13235752

suppose that some market consists of 100 buyers and 10 sellers. Each buyer has an identical individual demand curve,
P=300-3Q
Each seller has an identical individual supply curve,
P=Q
The market demand curve will thus take the form P=a-bQ and the market supply curve will take the form P=cQ+d. In the following questions, I want you to solve for a, b, c, and d.

3. What is the value of the "a" term in the market demand curve?

4. What is the value of the "b" term in the market demand curve?

5. What is the value of the "c" term in the market supply curve?

6. What is the value of the "d" term in the market supply curve?

suppose that some market consists of 50 buyers and 100 sellers. Each buyer has an identical individual demand curve,
P=200-4Q
50 sellers have an identical individual supply curve,
P=Q+40
The remaining 50 sellers have identical supply curves equal to
P=Q+20
The market demand curve will thus take the form P=a-bQ and the market supply curve will take the form P=cQ+d (I want you to focus on the part of the supply curve where prices are such that all sellers are willing to sell the good). In the following questions, I want you to solve for a, b, c, and d.

7. What is the value of the "a" term in the market demand curve?

8. What is the value of the "b" term in the market demand curve?

9. What is the value of the "c" term in the market supply curve?

10. What is the value of the "d" term in the market supply curve?

Reference no: EM13235752

Questions Cloud

Compare ceo express with google news : Compare CEO Express with Google News (news.google.com) Summarize your opinion on the advantages/disadvantages of each website.

Determine the advantages of creating an evp for a company : Determine the advantages of creating an EVP for a company or a division within a company. Support your position with evidence or examples.

Explain equilibria of silver chloride and calcium phosphate : Write balanced chemical equations and the solubility product expressions for the solubility equilibria of silver chloride and calcium phosphate.

Develop an algebraic formulation of the production planning : The carrying cost is $20 per product per month. Inventory on hand at beginning of month 1 is 25. Develop an algebraic formulation of the production planning problem.

What is the value of the d term in the market supply curve : The market demand curve will thus take the form P=a-bQ and the market supply curve will take the form P=cQ+d suppose that some market consists of 100 buyers and 10 sellers. Each buyer has an identical individual demand curve, P=300-3Q

Renting a backhoe and doing major landscape work : Renting a backhoe and doing major landscape work, change something simple - alter the habitat at your current location.

Describe how the perpetual inventory system works : Describe how the perpetual inventory system works. What are some advantages of using the perpetual inventory system? Is it necessary to take physical inventory when using the perpetual system?

Explain what pressure drop must be applied across : The temperature of the glucose solution is 20degrees Celsius. What pressure drop must be applied across the membrane to stop the flow of water into the glucose solution. Assume that the glucose concentration is 1 mg mL^-1 and that the molecular we..

What general internal control weaknesses contributed : What general internal control weaknesses contributed to this fraud?

User Account

All Pages