(Use the information below for questions 22 to 26). . In the market for good Y, the demand curve is Qd= 1500-5p and the supply curve is Qs= -1000 + 10p. If the government gave a subsidy of 80 rupees per unit on the producers with the aim of releasing this product in the market,,,,,, 22)New equilibrium price and quantity after the subsidy?Price = 132 Quantity = 480Price = 68 Quantity = 480Price = 132 Quantity = -480Price = 52 Quantity = 720none of the abo

In a competitive market the demand curve is given by P = 120–2q and supply by P = q. What are the equilibrium price and quantity traded?Group of answer choicesP* = 60, q* = 60P* = 40, q* = 80P* = 40, q* = 40P* = 20, q* = 40None of the above.

The diagram above depicts the demand and supply curves for good Y. The perfectly competitive market is initially in equilibrium, but the government decides to institute a price floor program by setting the price of good Y at PF and agrees to purchase all unsold units of good Y from the producers. The cost of this program to the government is represented by which of the following areas?

1. In a particular market, demand and supply curves are defined by the following equations: P=100– 0.5QD QS= -200 + 2P where, P is the price in pounds, QS is the quantity supplied and QD¬ is the quantity demanded. (a) What is the equilibrium price and quantity? [5 marks] (b) What is the price elasticity of supply at a price of £35? [5 marks]

The demand and supply functions of a good are given by{ P = 7 QD + 18P = −13 QS + 40where P denotes the price, QD the quantity demanded and QS the quantitysupplied.(a) Determine the equilibrium price and quantity.(b) Sketch the demand and supply functions on the same graph. Label theaxes and the intercepts clearly.

Question 1 Suppose there are two firms in the market of good X. The cost functionof firm 1 is C1(q) = q2, whereas the cost function of firm 2 is C2(q) = 3q2. Suppose thefirms operate in a perfectly competitive market and face a perfectly elastic demand atP = 30. Find the equilibrium quantity produced in this market. (Hint: Obtain eachfirm’s inverse supply curve and then add them horizontally.)