(Advanced analysis) Answer the question on the basis of the following information. The demand for commodity X is represented by the equation P = 10 - 0.2Q and supply by the equation P = 2 + 0.2Q.Refer to the above information. If demand changed from P = 10 - .2Q to P = 7 - .3Q, the new equilibrium quantity is:Multiple Choice10.20.15.30.

ADVANCED ANALYSIS  Assume that demand for a commodity is represented by the equation          P=18−2Qd.𝑃=18−2𝑄𝑑. Supply is represented by the equation          P=−2+2Qs,𝑃=−2+2𝑄𝑠, where Qd and Qs are quantity demanded and quantity supplied, respectively, and P is price.Instructions: Enter your answer for price rounded to 2 decimal places and enter your quantity as a whole number.a. Using the equilibrium condition Qs = Qd, determine equilibrium price.$ .b. Now determine equilibrium quantity. units.

In a market the demand curve is given by P = 100 –2q and supply by P =2q. What are the equilibrium price and quantity traded? Group of answer choicesP* = 25, q* = 25P* = 100, q* = 50P* = 50, q* = 50P* = 50, q* = 25None of the above.

Suppose the market demand Q_d (in tonnes) and market supply Q_s (in tonnes) are both linear functions in market price P (dollars in thousands) given by: Q_d=-5P+68, and Q_s=3P-10. What are the price P and trade quantity Q at equilibrium? Round your answer to 3 decimal places. Question 4 Answer a. P=9.750, Q=38.750 b. P=19.250, Q=9.750 c. P=9.750, Q=19.250 d. none of the others e. P=38.750,Q=9.750

The demand function Q and cost function C(Q) of a commodity are given by the equations \[Q=20-0.01P,\] and C(Q)=60+6Q, where P and Q are the price and quantity, respectively. The total revenue function (TR) in terms of P is

uppose demand for a good is QD = 100 - P and supply is QS = -20 + P. What is the equilibrium quantity?Group of answer choices20406080