None • Assume that Supply has a quadratic relationship with the price. Find this relationship (the help buttons contain anarticle to compute trend-lines in Excel):S(p)==-38.324p²+262.33p+299.24Round your answer to 3 decimal places• Assume that the Demand has a quadratic relationship with the price. Find this relationship (the help button links toan article to compute trend-lines in Excel):D(p)=85.518p2-545.03p+ 1240Round your answer to 3 decimal places• Use the trendlines to find the price corresponding to the equlibrium price between supply and demand:1.52$ per gallon Round your answer to 2 decimal places• From the price above what is the equilibrum quantity between supply and demand:610million of gallons Round your answer to closest whole number. Under these conditions, what is the consumer surplus?million of gallons Round your answer to closest whole number• Under these conditions, what is the producer surplus?million of gallons Round your answer to closest whole number

1. A quadratic equation is used to express the supply function S§, with price p serving as the…

Answered: • Assume that Supply has a quadratic…

Macroeconomics

13th Edition

ISBN:9781337617390

Author:Roger A. Arnold

Publisher:Roger A. Arnold

ChapterA: Working With Diagrams

Section: Chapter Questions

Problem 3QP

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Market equilibrium and disequilibrium The following graph shows the monthly demand and supply curves in the market for keyboards. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. 05010015020025030035040045050080726456484032241680PRICE (Dollars per keyboard)QUANTITY (Keyboards)Demand Supply Graph Input Tool Market for Keyboards Price (Dollars per keyboard) Quantity Demanded (Keyboards) Quantity Supplied (Keyboards) The equilibrium price in this market is per keyboard, and the equilibrium quantity is keyboards bought and sold per month. Complete the following table by indicating at each price whether there is a shortage or surplus in the market, the amount of that shortage or surplus, and…
13. Suppose that AS = 3SAT + 2SAX and that today's price is S(0) = 50. Find (i.e., derive) the PDF for the price of S(1), the price one year from now.
Let's assume that prices substantially increased over the past year. How do you expect this will affect people's buying behavior? Be sure to tie this back to economic concepts discussed in this course. Time Atten 33 M.
Suppose you have an extra six months of data on demands and prices, in addition to the data in the example. These extra data points are (350,84), (385,72), (410,67), (400,62), (330,92), and (480,53). (The price is shown first and then the demand at that price.) After adding these points to the original data, use Excel’s Trendline tool to find the best-fitting linear, power, and exponential trend lines. Then calculate the MAPE for each of these, based on all 18 months of data. Does the power curve still have the smallest MAPE?
During the height of the Covid pandemic, McDonalds like all other restaurant chains suffered from the combined negative impact of missing customers and supply chain disruptions. In words, how might each of these separately affect the Demand and Supply diagram. What is the overall impact on the market for McDonalds? Next, graphically depict the combined effect of the two, make a copy of the image, and insert at the bottom of the answer. If you need help, with photographing and inserting an image, reach out to your instructor or classmate.
What purpose would the demand curve for a product have in developing a sales forecast?
Based on the information in the following table, use the Weighted moving average Approach to forecast the demand for Dec Month Weights Demand Sep 1 161 Oct 122 Nov 3 106 According to the Weighted Moving Average, the forecast for Dec =
Based on the information in the following table, use the Exponential Smoothing Approach (a = 0.5) to forecast the demand for periods 4-11 PERIOD MONTH Demand Forecast Jan 89 2. Feb 151 89 3 Mar 60 120 4. Apr 107 May 131 9. Jun 140 7 Jul 71 8. Aug 94 sep 102 10 Oct 119 11 Nov
Consider that the quantity of Milk A sold will increase by 50%, the sales revenue of Milk A will decrease by 25%, and the price is determined by sales revenue divided by quantity sold. Which of the following best describes the expected change in Milk A's price in April, compared to March? January February March Milk A Quantity Sold Sales Revenue Quantity Sold 500 800 400 $3,000 $4,400 $2,400 Milk B 1200 1500 950 Select the single best answer: A. increase by 25% B. decrease by 50% C. decrease by 25% D. decrease by 15% E. no change Sales Revenue $5,000 $6,000 $4,400 Quantity Sold Milk C 600 550 700 Sales Revenue $3,400 $3,300 $5,000
A demand schedule shows the relationship between two variables. So what are the two variables on the axes of the area in which we graph a demand schedule?
A firm keeps a record of sales and prices over the past seven months, resulting in the following table: Price (ZMW/ton) Sales (tons) Nov. 1985 7.5 84.5 Dec. 8.0 82.0 Jan. 1986 8.0 84.0 Feb. 7.2 92.0 March 7.0 95.0 April 8.0 92.0 May 8.5 91.5 Use these observations to estimate demand as a linear function of both price and time. Further, utilise this function to estimate demand for the following month, on the assumption that: (a) price remains unchanged, (b) price increases to ZMW9/ton. Hence estimate the price elasticity of demand between these prices and find the price which would maximise sales revenue. Given the nature of the observations, comment on any difficulties in interpreting your results for decision-making purposes.
Summarize this While the major economies slid into recession and industries suffered great losses to the COVID-19 pandemic, E-commerce sales saw explosive growth. In this rapid movement of consumers to online purchasing and delivery services, there has been a large increase in the demand for packaging materials, such as cardboard boxes. Supporting this, Parcel Shipping Index by Pitney Bowes Inc. (2020) finds global parcel volume exceeding 131 billion, a 27% increase from 2019. Corrugated cardboards are largely and versatilely used for secondary packaging of goods, up to the tertiary packaging of large packs into mass cargo (Saxon Packaging, 2020). In addition to its relatively low cost, its strength and durability are also remarkable in protecting a variety of products from damage, notably during the shipment process. Given this, businesses have been largely reliant on the material as a practical, secure, and sustainable way of containing their products from production centers to…

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