The demand and supply functions for different firms are given belowi) Qd = 200 – 2PQs= - 20 + 2Pii) Qd = 51 – 3PQs = -4 +8PDetermine the equilibrium price and equilibrium quantity for each firm

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.

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 = 3 QD + 12P = −5QS + 20where 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 3 Suppose there are N identical firms that have a cost function equal toC(q) = 3q2. Suppose the firms operate in a perfectly competitive market, and face aperfectly elastic demand equal to P = 12. How many firms N should operate in themarket, such that, the equilibrium quantity is equal to Q∗ = 36

Annual demand and supply for the Entronics company is given by:QD = 5,000 + 0.5 I + 0.2 A - 100P, and QS = -5000 + 100Pwhere Q is the quantity per year, P is price, I is income per household, and A is advertisingexpenditure.a. If A = $10,000 and I = $25,000, what is the demand function for this firm?b. Given the demand function in part a., what is equilibrium price and quantity?c. If consumer incomes increase to $30,000, what will be the impact on equilibrium price andquantity?