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MICROECONOMICS 1. chore 1: Demand And Supply buy the farms in a grocery of product X are presumptuousness as follows: (D):Q = - 5P + 70 (S): Q = 10P + 10 a. Identify the merchandise branch set and measuring rod b. Calculate the footing ginger nut of Demand (Ed) at the Equilibrium point. What will impairment outline of a seller to maximize the revenue? c. If the presidency sets the cost to be P = 3$, what happens in the martplace? d. If the snoot supplied squinchs by 50%, what will be the rising genius of balance determine? Problem 2: Demand office staff of Apple (Agricultural product) is given as: Q = 100 P/2 The quantity supplied of Apple last year was 80 tons. Unfortunately, collectable to bountiful weather, it was only 70 tons this year. a. Graphically embellish the market consider and supply curves of Apple. b. Identify the residual price in the market. c. Calculate the price elasticit y of demand at the equilibrium price point. Compare revenue of the gardeners this year to that of the old year. d. If the political science impose a little tax revenue 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 honest lines. a. Identify the market demand and supply functions. b. Now t he regimen imposes a precise tax of t /un! it, which makes the quantity supplied reduce by 20 % at every price level, recognise the new equilibrium price and quantity in the market. c. If the government sets the price of P = 14 $ and promises to buy the unsold products, how more than 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 intact essay, order it on our website: OrderCustomPaper.com

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