Derive market equilibrium and illustrate it graphically, Microeconomics

Assignment Help:

Market demand and supply of a good is shown by QB = 2,160 - 180P and QS = -2400 + 300P where QD, QS and P stand for quantity demanded, quantity supplied and price respectively.

(a) derive market equilibrium and illustrate it graphically.
(b) Derive the market equilibrium in the presence of a unit tax of $4 and illustrate the after-tax market equilibrium graphically.

Related Discussions:- Derive market equilibrium and illustrate it graphically

What are advantages of using mathematics in modern economics, What are the ...

What are the advantages of using mathematics in Modern Economics? Many of the advantages of using mathematics are as follows: a. The “language” used and the explanations of

Elasticity of demand, #q The price of a laptop increases by 20% and there i...

#q The price of a laptop increases by 20% and there is a 40% drop in the quantity demanded. • The price of a pack of cigarettes increases by 10% and there is a 5% drop in the quan

HELP, Suppose Jean Splicer, an investor, buys $300,000 of shares of stock i...

Suppose Jean Splicer, an investor, buys $300,000 of shares of stock in a diversified bundle of Bio-tech firms and exactly one year later sells those shares for $315,000. Assume the

Production Posibilities Curve, Define the Production Possibilities Curve an...

Define the Production Possibilities Curve and explain the basic economics concepts using the PPC. Explain the factors tht shift the PPC outwards

Theory of revealed preference, THEORY OF REVEALED PREFERENCE: If consu...

THEORY OF REVEALED PREFERENCE: If consumer's taste and preferences do not change, then observation of her market behaviour or, actual act of choice between the commodity sets

PRODUCTION FUNCTION, discuss the problems of measuring productivity in actu...

discuss the problems of measuring productivity in actual work situations. how might productivity be measured for each of the following industries: education, government and manufac

POLICY FAILURE, GROWTH OF EMPLOYMENT OPPORTUNITIES: Policy failure ref...

GROWTH OF EMPLOYMENT OPPORTUNITIES: Policy failure refers to situations: i) When the objectives of public policy are attained partially or inadequately or in a distorted

Hello, using the indifference curve approach explain why the demand curve s...

using the indifference curve approach explain why the demand curve slope downwards from left to right...... is there any exceptions?

Theory of consumers behaviour, derive PCC for complementary goods

derive PCC for complementary goods

Theory of cost ., opportunity cost

opportunity cost

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages