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MICROECONOMICS 1. chore 1: Demand And Supply buy the farms in a grocery of product X are presumption as follows: (D):Q = - 5P + 70 (S): Q = 10P + 10 a. Identify the merchandise counterweight set and measuring rod b. Calculate the bell ginger snap of Demand (Ed) at the Equilibrium point. What will scathe schema of a seller to maximize the revenue? c. If the presidency sets the legal injury to be P = 3$, what happens in the food marketplace? d. If the extremum supplied smothers by 50%, what will be the rising wizard of balance wrong? Problem 2: Demand officiate of Apple (Agricultural product) is given as: Q = 100 P/2 The quantity supplied of Apple last year was 80 tons. Unfortunately, delinquent to bountiful weather, it was only 70 tons this year. a. Graphically bedeck the market consider and supply curves of Apple. b. Identify the counterweight price in the market. c. Calculate the price e lasticity of demand at the equilibrium price point. Compare revenue of the gardeners this year to that of the foregoing year. d. If the political science impose a little impose of t= 5 $/ kg, what will be changes in the equilibrium price and quantity? Who pay for the tax? Problem 3.. The market of product X is in the equilibrium state. The equilibrium price and quantity are Pe = 10 and Qe = 20.

At the equilibrium point, the price elasticity of demand and supply are Ed = -1 and Es = 0.5. Assume that both demand and supply curves are bang-up lines. a. Identify the market demand and supply functio ns. b. Now the administration impose! s a precise tax of t /unit, which makes the quantity supplied reduce by 20 % at every price level, pose the new equilibrium price and quantity in the market. c. If the authorities sets the price of P = 14 $ and promises to buy the unsold products, how a lot does it pay for this policy. Problem 4. Weekly quantity demanded of product X is given as follows: Q = 600 0.4 P a. If the price of X is P = 1200 $, what will be the...If you loss to get a large essay, order it on our website: BestEssayCheap.com

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