Directions: Plot the following hypothefical market demand and supply schedules for commodity X in a graphing paper Quantity Demanded Price (Peso) Quantity Supplied (Units) (Units) 900 150 P 30.00 25.00 800 300 700 350 20.00 600 15.00 600 400 800 10.00 1000 5.00 200 1. What is the equilibrium price? Equilibrium quantity?
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- Directions: Plot the following hypothetical market demand and supply schedules for commodity X in a graphing paper. Quantity Demanded (Units) 150 Quantity Supplied (Units) 900 800 700 600 400 200 Price (Peso) P 30.00 300 350 600 800 1000 25.00 20.00 15.00 10.00 5.00 1. What is the equilibrium price? Equilibrium quantity?Problem #1 Below is the demand schedule for rice during the month of January 2021. Create the demand curve of the given schedule and determine the demand function. Table 4.1.5 Demand Schedule for Rice During January 2021 Point Price (Peso) Quantity Demanded (kg) 11 kg 17 kg 28 kg 35 kg 43 kg A P123.50 P114.50 P98.00 P87.50 E P75.50 Guided Questions: (1) What will be the amount of the demand if the price will continue to decrease from P75.50 to P20.00? (2) What is the corresponding price of a quantity demanded of 50 kg?1. Plot the graph of the demand and supply schedule below, determine the equilibrium quantity and equilibrium price, and label each curve. Supply & Demand Schedule for Rice Price per Kilo (in Quantity Supplied (in Quantity Demanded pesos) kg) (in kg) 39 100 350 44 150 300 46 200 200 48 250 150 50 300 100 52 350 50 As shown in Table above, plot the hypothetical supply and demand schedule for rice at various prices. Based from the given variables, determine the following. 1. Equilibrium Price (EP) 2. Equilibrium Quantity Supplied (EQS ) 3. Equilibrium Quantity Demanded (EQD)
- . During the 1980s most of the global supply of lysine was produced by a Japanese company named Anjinomoto. Lysine is an essential amino acid that is an important livestock feed component. At this time, the US imported most of this global supply of lysine (more than 30,000 tons) to use in livestock feed at a price of $1.65 per pound. The global market for lysine, however, fundamentally changed in 1991 when US-based Archer Daniels Midland (ADM) began producing lysine; a move that doubled worldwide production capacity. Experts conjectured that the marginal cost of producing lysine was approximately $0.70 per pound. Despite ADM's entry into the lysine market, suppose demand remained constant at Q = 208 – 80P (in millions of pounds). Shortly after ADM began producing lysine, the worldwide price dropped to $0.70. By 1993, however, the price of lysine shot back up to $1.65. Give a plausible explanation for what might have happened in the lysine market. Support your answer with appropriate…Price (dollars per pound) 6. 1o Quantity (millions of pounds per day) 14 The graph illustrates the market for British pounds, the currency of the United Kingdom. As the number of buyers of pounds decreases and the number of sellers of pounds increases, the equilibrium price of a pound A) will remain the same. B) will fall. C) will rie. D) might rise, fall, or remain the same but more information is needed. will rise if the magnitude of the effect on the buyers is larger than the E) magnitude of the effect on the sellers.Table 1 shows the demand and supply of cat food per year Price Quantity demanded Quantity supplied (dollars per pound of (tons of cat food per (tons of cat food per cat food) year) year) 1 52 15 1.5 46 26 43 34 2.5 40 40 3 35 44 What is the equilibrium price and quantity? How did you decide your answer? а. b. If the price is $3.00 per pound of cat food, will there be a shortage, a surplus? Explain why. C. From (b) - What is the size of shortage or surplus? A- В I !!
- Same question screenshot is attached Assume that Grainland currently produces wheat and does not trade wheat in international markets. (a) Draw a correctly labeled demand and supply graph for the domestic wheat market in Grainland. Label the equilibrium price, PePe, and the equilibrium quantity, QeQe. (b) Suppose the price of wheat in the world market is lower than the domestic price of wheat in Grainland. Assume now Grainland wants to trade wheat in the world market. (i) On your graph from part (a), label the world market price of wheat as PWPW, and identify the domestic quantity demanded of wheat at PWPW, as Q3Q3, and the domestic quantity supplied of wheat labeled as Q1Q1. (ii) Will Grainland export or import wheat? Explain. (c) With international trade in wheat, who will benefit in Grainland: domestic producers, domestic consumers, neither or both? Explain. (d) Suppose that the government of Grainland decides to provide a subsidy for wheat farmers to make the country more…Shot on Y11 Vivo Al camera 2021.04.09 09:02 X in a graphing paper. Quantity Demanded Price Quantity Supplied (Units) (Peso) (Units) 150 Р 30.00 900 300 25.00 800 350 20.00 700 600 15.00 600 800 10.00 400 1000 5.00 200 What is the equilibrium price? Equilibrium quantity? Activity 1.2.6. Show Me The 3Assume that Grainland currently produces wheat and does not trade wheat in international markets. (a) Draw a correctly labeled demand and supply graph for the domestic wheat market in Grainland. Label the equilibrium price, PePe, and the equilibrium quantity, QeQe. (b) Suppose the price of wheat in the world market is lower than the domestic price of wheat in Grainland. Assume now Grainland wants to trade wheat in the world market. (i) On your graph from part (a), label the world market price of wheat as PWPW, and identify the domestic quantity demanded of wheat at PWPW, as Q3Q3, and the domestic quantity supplied of wheat labeled as Q1Q1. (ii) Will Grainland export or import wheat? Explain. (c) With international trade in wheat, who will benefit in Grainland: domestic producers, domestic consumers, neither or both? Explain. (d) Suppose that the government of Grainland decides to provide a subsidy for wheat farmers to make the country more competitive and sell wheat at the world market…
- When bakeries produce sliced bread, they also produce bread crumbs. Bakeries sell the sliced bread to families and sell the bread crumbs to fish shops. When the price of bread crumbs rises, what happens to the supply of sliced bread and its price? Sliced bread and bread crumbs are ________. When the price of bread crumbs rises, the supply of sliced bread ________ and the price of sliced bread ________. A. substitutes in production; increases; falls B. complements in production; increases; falls C. complements in production; does not change; does not change D. substitutes in production; decreases; risesThe market for rice has the following supply and demand schedule. -What is the equilibrium price and quantity? -Calculate the revenue at equilibrium. -Quantity supplied is reduced by 30 tonnes. Calculate the new quantity supplied. What is the new equilibrium price and quantity now? -Calculate the new revenue. Did it increase or decrease? Price ($) Quantity demanded (tonnes) Quantity supplied (tonnes) 2 110 50 4 95 65 6 80 80 8 65 95 10 50 110 12 35 125The table shows the hypothetical demand and supply for coffee beans in two countries: Mexico and Armenia. Price ($) per pound of coffee beans Price ($/lb) Mexico quantity demanded (lb) Mexico quantity supplied (lb) Armenia quantity demanded (lb) Armenia quantity supplied (lb) 8 180 500 155 210 7 200 460 180 180 6 250 410 200 160 5 280 360 220 140 4 320 320 240 125 3 350 280 260 115 In autarky, what would the equilibrium price and quantity be in Mexico and Armenia? equilibrium price in Mexico: $ equilibrium quantity in Mexico: lb equilibrium price in Armenia: $ equilibrium quantity in Armenia: lb