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  • Prelim Exam Supply Demand

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    Liam Grico
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    The document contains two sections that calculate demand and supply quantities using given price functions. For demand, it shows the calculations for prices of $5, $15, and $25 using the function Qd=20-0.4P, and presents the results in a table and graph. For supply, it similarly calculates quantities for prices of $60, $70, and $80 using the function Qs=-10+0.6P and shows the work.

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    The document contains two sections that calculate demand and supply quantities using given price functions. For demand, it shows the calculations for prices of $5, $15, and $25 using the function Qd=20-0.4P, and presents the results in a table and graph. For supply, it similarly calculates quantities for prices of $60, $70, and $80 using the function Qs=-10+0.6P and shows the work.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    8 views2 pages

    Prelim Exam Supply Demand

    Uploaded by

    Liam Grico
    The document contains two sections that calculate demand and supply quantities using given price functions. For demand, it shows the calculations for prices of $5, $15, and $25 using the function Qd=20-0.4P, and presents the results in a table and graph. For supply, it similarly calculates quantities for prices of $60, $70, and $80 using the function Qs=-10+0.6P and shows the work.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 2

    1.

    Demand

    a.) using the demand function (Qdx = 20 – 0.4Px), calculate the quantity demanded
    assuming the following prices: (9PTS) - Show the solution

    1.) P=5

    Qdx = 20 – 0.4(5)

    Qdx = 20 – 2

    Qdx = 8

    2.) P = 15

    Qdx = 20 – 6

    Qdx = 14

    3.) P = 25

    Qdx = 20 – 0.4(25)

    Qdx = 20 –10

    Qdx = 10

    b.) based on your answer, present the table and graph (Price vs. Quantity
    demanded) (6PTS)

    2. Supply

    a.) using the supply function (Qsx = -10 + 0.6Px), calculate the quantity demanded
    assuming the following prices: (9PTS) - Show the solution

    1.) P = 60

    Qsx = -10 + 0.6(60)

    Qsx = -10 + 36
    10 Qsx/10 =36/10

    Qsx = 3.6

    2.) P = 70

    Qsx = -10 +42

    10 Qsx/10 = 42/10

    Qsx = 4.2

    3.) P = 80

    Qsx = -10 + 48

    10 Qsx/10 = 48/10

    Qsx = 4.8

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