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

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.

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 competitive market for bicycles has a demand function given by Qd = 444 - 2P and a supply function given by Qs = 2P. What is the quantity of bicycles traded in the market equilibrium?[Round your answer to 2 decimals (e.g. 24.03)]

(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.

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