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Chart Title: Demand Schedule Supply Schedule Q 1300-20P Q 1800-20P Q 100 + 10P Demand Function Supply Function

1. The document presents two supply schedules and two demand schedules in a market for a good. 2. The equilibrium price is $40 and the equilibrium quantity is 500 units, which is the point at which the supply and demand schedules intersect with no excess supply or demand. 3. The equilibrium price of $40 and quantity of 500 units is consistent across the different supply and demand schedules presented.

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Harish Bishnoi
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65 views3 pages

Chart Title: Demand Schedule Supply Schedule Q 1300-20P Q 1800-20P Q 100 + 10P Demand Function Supply Function

1. The document presents two supply schedules and two demand schedules in a market for a good. 2. The equilibrium price is $40 and the equilibrium quantity is 500 units, which is the point at which the supply and demand schedules intersect with no excess supply or demand. 3. The equilibrium price of $40 and quantity of 500 units is consistent across the different supply and demand schedules presented.

Uploaded by

Harish Bishnoi
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Demand Schedule Supply Schedule

Demand Supply
Function Q = 1300-20P Q = 1800-20P Function Q = 100 + 10P

Quantity Quantity Quantity


Price Demanded (Qd) Demanded (Qd') Price Demanded (Qs)
65 0 500 65 750
60 100 600 60 700
50 300 800 50 600
40 500 1000 40 500
30 700 1200 30 400
20 900 1400 20 300
10 1100 1600 10 200
0 1300 1800 0 100

Chart Title
1800
1600
1400
1300
1200
1100
1000
900
800
700
600
500 500
300
65 100
60 50 40 30
0 20 10 0
1 2 3 4 5 6 7 8
Dema nd Schedul e Demand Function Pri ce
Q = 1300-20P Qua ntity Demanded (Qd)
Q = 1800-20P Quantity Demanded (Qd')
upply Schedule Equilibrium Price and Quantity Equilibrium Price and Qu
Demand Demand
Q = 250 + 10P Function Q = 1300-20P Q = 100 + 10P Function

Excess
Quantity Quantity supply or
Quantity Demanded Demanded excess
Demanded (Qs') Price (Qd) (Qs) demand Price
900 65 0 750 750 65
850 60 100 700 600 60
750 50 300 600 300 50
650 40 500 500 0 40
550 30 700 400 -300 30
450 20 900 300 -600 20
350 10 1100 200 -900 10
250 0 1300 100 -1200 0
Equilibrium Price and Quantity Equilibrium Price and Quantity
Demand
Q = 1800-20P Q = 100 + 10P Function Q = 1300-20P Q = 250 + 10P

Excess Excess
Quantity Quantity supply or Quantity Quantity supply or
Demanded Demanded excess Demanded Demanded excess
(Qd') (Qs) demand Price (Qd) (Qs') demand
500 750 250 65 0 900 900
600 700 100 60 100 850 750
800 600 -200 50 300 750 450
1000 500 -500 40 500 650 150
1200 400 -800 30 700 550 -150
1400 300 -1100 20 900 450 -450
1600 200 -1400 10 1100 350 -750
1800 100 -1700 0 1300 250 -1050

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