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If the quantity of sunglasses supplied is represented by the supply equation QS = -60 + 4P, then to ...

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If the quantity of sunglasses supplied is represented by the supply equation QS = -60 + 4P, then to ...

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

Demand	Supply
P = 80 - QD	P = 50 + 1/2 QS
QD = 80 - P	QS = 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

Textbook

Microeconomics

Edition: 7^th

Authors: Hubbard, O'Brien

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Bakari

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More solutions for this book are available here

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dwilliams11 Author

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This helped my grade so much Perfect

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Good timing, thanks!

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I appreciate what you did here, answered it right Smiling Face with Open Mouth

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