Question

Price per gallon of orange juice Quantity demanded (in gallons) $1 700 $2 600 $3 500 $4 400 $5 300 a) Graph these points with the price on the vertical axis and quantity on the horizontal axis. b) From the graph, is the demand curve linear or non-linear (i.e. is it a straight line?) c) Derive the demand equation( demand curve) for Jamba Juice based on the data given. d) Derive the inverse demand curve e) Using the demand curve for Jamba Juice state how much orange juice will be demanded at P= $0 and at P=$6. 2. The following data represents 5 points on the supply curve for Jamba Juice orange juice. Price per gallon of orange juice Quantity supplied (in gallons) $1 100 $2 300 $3 500 $4 700 $5 900 a) Graph these points with the price on the vertical axis and quantity on the horizontal axis. b) From the graph, is the supply curve linear or non-linear (i.e. is it a straight line?) c) Derive the supply equation( supply curve) for Jamba Juice based on the data given. d) Derive the inverse supply curve e) Using the supply curve for Jamba Juice state how much orange juice will be supplied at P= $0 and at P = $6. Using your demand and supply curves from questions 1 and 2 above: a) Calculate the equilibrium price and quantity for Jamba juice? b) Graph your demand and supply curves on one graph and show the equilibrium price and quantity.

          Price per gallon of orange juice
Quantity demanded (in gallons)
$1
700
$2
600
$3
500
$4
400
$5
300
a) Graph these points with the price on the vertical axis and quantity on the horizontal axis.
b) From the graph, is the demand curve linear or non-linear (i.e. is it a straight line?)
c) Derive the demand equation( demand curve) for Jamba Juice based on the data given.
d) Derive the inverse demand curve
e) Using the demand curve for Jamba Juice state how much orange juice will be demanded at P= $0 and at
P=$6.
2. The following data represents 5 points on the supply curve for Jamba Juice orange juice.
Price per gallon of orange juice
Quantity supplied (in gallons)
$1
100
$2
300
$3
500
$4
700
$5
900
a) Graph these points with the price on the vertical axis and quantity on the horizontal axis.
b) From the graph, is the supply curve linear or non-linear (i.e. is it a straight line?)
c) Derive the supply equation( supply curve) for Jamba Juice based on the data given.
d) Derive the inverse supply curve
e) Using the supply curve for Jamba Juice state how much orange juice will be supplied at P= $0 and at P
= $6.
Using your demand and supply curves from questions 1 and 2 above:
a)
Calculate the equilibrium price and quantity for Jamba juice?
b)
Graph your demand and supply curves on one graph and show the equilibrium price and quantity.

Price per gallon of orange juice
Quantity demanded (in gallons)
1
7002
600
3
5004
400
5
300
a) Graph these points with the price on the vertical axis and quantity on the horizontal axis.
b) From the graph, is the demand curve linear or non-linear (i.e. is it a straight line?)
c) Derive the demand equation( demand curve) for Jamba Juice based on the data given.
d) Derive the inverse demand curve
e) Using the demand curve for Jamba Juice state how much orange juice will be demanded at P=0 and at
P=6.
2. The following data represents 5 points on the supply curve for Jamba Juice orange juice.
Price per gallon of orange juice
Quantity supplied (in gallons)1
100
2
3003
500
4
7005
900
a) Graph these points with the price on the vertical axis and quantity on the horizontal axis.
b) From the graph, is the supply curve linear or non-linear (i.e. is it a straight line?)
c) Derive the supply equation( supply curve) for Jamba Juice based on the data given.
d) Derive the inverse supply curve
e) Using the supply curve for Jamba Juice state how much orange juice will be supplied at P= 0 and at P
=6.
Using your demand and supply curves from questions 1 and 2 above:
a)
Calculate the equilibrium price and quantity for Jamba juice?
b)
Graph your demand and supply curves on one graph and show the equilibrium price and quantity.

Added by Gloria J.

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