(Solution) If The Market Supply Function Of A Commodity Is Qs = 3,250 And (a) The Market Demand Function Is Qd = 4,750 50P And P Is Expressed In Dollars, Use | Snapessays.com


(Solution) If the market supply function of a commodity is qs = 3,250 and (a) the market demand function is Qd = 4,750 50P and P is expressed in dollars, use


Please see attached file for question.If the market supply function of a commodity is qs = 3,250 and (a) the market demand 

 

function is Qd = 4,750 - 50P and P is expressed in dollars, use excel to calculate what the 

 

equilibrium price is by calculating values of Qd and Qs for P from 25 to 50 in 1's. (d) For 

 

(a) – (c), if TC=0.005Q^2-Q, what is the profit in each case?

 

Revised spreadsheet problem 1: Just answer (a) and 1(d). For (d), change “For (a) to (c)” 

 

to “For (a) only.” Show all work and fill out spreadsheet.

 

2

 

P

 

QS

 

QD

 

QD’

 

QD”

 

TR-TC

 

3

 

25

 

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26

 

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27

 

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28

 

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28

 

50

 


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This question was answered on: May 23, 2022

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May 23, 2022

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