MICROECONOMICS

NAME: CARIÑIO, RANGE LYN B. YEAR/SECTION: BSBA FM 3C

1. Assume that the demand function is equal to Qd = 5,000 – 1,000P ; where price range is P1 to P5, derive
the demand schedule economics.

Price Qd

P1 4000

2 3000

3 2000

4 1000

5 0

2. Based on the following functions for demand/supply, compute the demand/supply schedule.

a. Qd = 500 – 20 (P)
Qs = 50 + 10 (P)

Price Quantity Demanded Quantity Supplied

P 5.00 400 100

10.00 300 150

15.00 200 200

20.00 100 250

25.00 0 300

S
3. Plot the above schedule on a single graph. Identify the equilibrium price and equilibrium quantity.

Price

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 SUPPLY

Equilibrium

DEMAND

Quantit
EQUILIBRIUM PRICE = P15.00
EQUILIBRIUM QUANTITY = 200

4. Based on your schedule, indicate by putting a CROSS (X) if a surplus or shortage exists and so as the
quantity of the surplus or shortage.

Price Surplus Shortage Quantity

P 5.00 X 300

10.00 X 150

15.00

20.00 X 150

25.00 X 300

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