The quantity demanded x each month of Russo Espresso Makers is 250 when the unit price...

The quantity demanded x each month of Russo Espresso Makers is 250 when the unit price p is $135. The quantity demanded each month is 1000 when the unit price is $105. The suppliers will market 700 espresso makers when the unit price is $66. At a unit price of $96, they are willing to market 2200 units. Both the supply and demand equations are known to be linear.

(a) Find the demand equation.
p =

(b) Find the supply equation.
p =

	units
$

Solutions

Expert Solution

Given data:

the quantity demanded x each month of russo espresso makers=250

unit price=135

each month demand=1000

Colby Messinger answered 1 year ago

Next > < Previous

Related Solutions

The quantity demanded x each month of Russo Espresso Makers is 250 when the unit price...

The quantity demanded x each month of Russo Espresso Makers is 250 when the unit price p is $150; the quantity demanded each month is 1000 when the unit price is $120. The suppliers will market 750 espresso makers if the unit price is $50. At a unit price of $60, they are willing to market 1500 units. Both the demand and supply equations are known to be linear. Find the supply and demand equations. Find the equilibrium price and...

The quantity demanded x each month of Russo Espresso Makers is 250 when the unit price...

The quantity demanded x each month of Russo Espresso Makers is 250 when the unit price p is $170; the quantity demanded each month is 750 when the unit price is $150. The suppliers will market 750espresso makers if the unit price is $110. At a unit price of $130, they are willing to market 2250 units. Both the demand and supply equations are known to be linear. (a) Find the demand equation. p = (b) Find the supply equation....

When the price is $2, the quantity demanded is 10. When the price rises to $8, the quantity demanded falls to 2.

When the price is $2, the quantity demanded is 10. When the price rises to $8, the quantity demanded falls to 2. What is the value of the elasticity of demand? Is it elastic or inelastic?

The current market price is $250 and quantity demanded at that price is 100 for textbooks....

The current market price is $250 and quantity demanded at that price is 100 for textbooks. If price decreases to $100, and quantity demanded increased to 350. How much is the price elasticity of demand. Is the market for the economics textbook elastic, inelastic or unit elastic, and why? Given the information on the price elasticity of demand of textbook, what happens to total revenue for this market for the decrease in price from $250 to $100.

Price Market Quantity Demanded Social Quantity Demanded ($) (units per month) (units per month) 20 10...

Price Market Quantity Demanded Social Quantity Demanded ($) (units per month) (units per month) 20 10 20 18 20 30 16 30 40 14 40 50 12 50 60 10 60 70 b. Does this product have external benefits or external costs? External benefits c. How large ($) is that externality? ? per unit

The quantity demanded x of a certain brand of DVD player is 3000/week when the unit...

The quantity demanded x of a certain brand of DVD player is 3000/week when the unit price p is $485. For each decrease in unit price of $20 below $485, the quantity demanded increases by 250units. The suppliers will not market any DVD players if the unit price is $350 or lower. But at a unit price of $525, they are willing to make available 2500 units in the market. The supply equation is also known to be linear. (a)...

John buys and consumes only two goods, X and Y. At point A on the demand curve for X, quantity demanded is 2 when the price of X is $4 a unit.

John buys and consumes only two goods, X and Y. At point A on the demand curve for X, quantity demanded is 2 when the price of X is $4 a unit. At point B, quantity demanded is 3 at price of X equal to $2 a unit. . Marginal rate of substitution between X and Y at point A is equal to 2. (MRSxy =2). At point B, MRSxy will be:151.00.502.0None of the above. Not enough information to determine

Q73. the price is 3, the quantity demanded is 8. When the price is 6, the...

Q73. the price is 3, the quantity demanded is 8. When the price is 6, the quantity demanded is 4. What is the price elasticity of When demand? ------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Q74. A perfectly inelastic demand curve will be ---------------- on a graph while a perfectly elastic demand curve will be ------------------on a graph. a. vertical; horizontal b. horizontal; vertical c. vertical; vertical d. horizontal; horizontal Q75. When demand is price-inelastic, a price decrease will result in: a. an increase in...

price of cheese(Rands) Quantity demanded by ANNA( in kilograms) Quantity demanded by Beauty(in kilograms) Quantity demanded...

price of cheese(Rands) Quantity demanded by ANNA( in kilograms) Quantity demanded by Beauty(in kilograms) Quantity demanded by clive( in kilograms) R35 0kg 0kg 0kg R30 1kg 1kg 0kg R25 1kg 2kg 1kg R20 2kg 2kg 2kg R15 2kg 3kg 3kg R10 3kg 3kg 4kg R5 3kg 4kg 5kg THE PRODUCERS OF CHEESE TO THIS MARKET Price of cheese qUANTITY SUPPLIED(IN KILIGRAMS) R35 12 R30 10 R25 8 R20 6 R15 4 R10 R5 2 0 Assuming that there are three...

When demand is very elastic then if price rise then the quantity demanded will decrease in...

When demand is very elastic then if price rise then the quantity demanded will decrease in a big amount. When supply is very inelastic then if the sellers' received amount fall due to tax then the quantity supplied will not decrease too much. Hence if demand is very elastic and supply is very inelastic then consumers will bear a small amount of whole tax burden where producers will bear a large amount of whole tax burden. Now, if demand is...

Subjects