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Other Fields Homework Help Economics Topic started by: dwilliams11 on Feb 25, 2019



Title: If the quantity of sunglasses supplied is represented by the supply equation QS = -60 + 4P, then to ...
Post by: dwilliams11 on Feb 25, 2019

Question 1.

If the quantity of sunglasses supplied is represented by the supply equation QS = -60 + 4P, then to solve for the price of sunglasses, the equation would be rewritten as

P = 0.25QS + 15.

P = 15QS + 240.

P = QS - 7.5.

P = 12 - 0.4QS.

Question 2.

Table 4-6

DemandSupply
P = 80 - QDP = 50 + 1/2 QS
QD = 80 - PQS = 2P - 100

Refer to Table 4-6. The equations above describe the demand and supply for Chef Ernie's Sushi-on-a-Stick. What are the equilibrium price and quantity (in thousands) for Chef Ernie's sushi?

• $80 and 80 thousand

• $60 and 20 thousand

• $50 and 100 thousand

• $40 and 50 thousand


Title: If the quantity of sunglasses supplied is represented by the supply equation QS = -60 + 4P, then to ...
Post by: Bakari on Feb 25, 2019
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