Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 09 Jul 2017 My Price 11.00

corresponding supply curve

Assume that all the factors affecting demand in this model remain the same, but that the price has changed. Further assume that the price changes are 100, 200, 300, 400, 500, 600 dollars.

  1. Plot the demand curve for the firm.
  2. Plot the corresponding supply curve on the same graph using the supply function Q = 5200 + 45P with the same prices.
  3. Determine the equilibrium price and quantity.
  4. Outline the significant factors that could cause changes in supply and demand for the product. Determine the primary manner in which both the short-term and the long-term changes in market conditions could impact the demand for, and the supply, of the product.

Answers

Maurice Tutor
(5)
Status NEW Posted 09 Jul 2017 09:07 PM My Price 11.00

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