Question

Use the General Demand and Supply functions provided below to answer the following 10 questions: Q_D = 110 - 4P_x + 10P_y Q_S = -8 + 2P_x - 4P_R where P_x is the price of x; P_y is the price of good Y and P_R is the price of a resource R. Suppose the present price of good x is P_x = $45, P_y = $9 and P_R = $8. 1 - Based on the demand equation x and Y are 2 - The simplified demand function is: Q_D = 3 - The simplified supply function is: Q_S = and the Quantity 4 - When the price of good x is $45 the Quantity Demanded is Supplied is 5 - When the price of good x is $45 the there is a 6 - The equilibrium price and quantity are: P* = and Q* = 7 - When price of Y increases from $9 to P_y = $17 the NEW simplified demand function is: Q_D = ,- P_x 8 - When price of R decreases from $8 to P_A = $3 the NEW simplified supply function is: Q_S = P_x 9 - When price of Y increases to P_y = $17 and the price of R decreases to P_R = $3 the NEW equilibrium price and quantity are: P* = and Q* = If the NEW equilibrium price P_x of good x changes to $30 there will be a of units. 

          Use the General Demand and Supply functions provided below to answer the following 10 questions:

Q_D = 110 - 4P_x + 10P_y
Q_S = -8 + 2P_x - 4P_R

where P_x is the price of x; P_y is the price of good Y and P_R is the price of a resource R.

Suppose the present price of good x is P_x = $45, P_y = $9 and P_R = $8.

1 - Based on the demand equation x and Y are
2 - The simplified demand function is:
Q_D = 
3 - The simplified supply function is:
Q_S = 
and the Quantity
4 - When the price of good x is $45 the Quantity Demanded is
Supplied is
5 - When the price of good x is $45 the there is a
6 - The equilibrium price and quantity are: P* = 
 and Q* = 
7 - When price of Y increases from $9 to P_y = $17 the NEW simplified demand function is:
Q_D = ,- P_x
8 - When price of R decreases from $8 to P_A = $3 the NEW simplified supply function is:
Q_S = P_x
9 - When price of Y increases to P_y = $17 and the price of R decreases to P_R = $3 the NEW equilibrium price and quantity are:
P* = 
 and Q* = 
If the NEW equilibrium price P_x of good x changes to $30 there will be a
of
units.
Show more…
use the general demand and supply functions provided below to answer the following 10 questions qd 110 4px 10py qs 8 2px 4pr where px is the price of x py is the price of good y and 46326

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Principles of Economics
Principles of Economics
Gregory Mankiw 8th Edition
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Use the General Demand and Supply functions provided below to answer the following 10 questions: Q_D = 110 - 4P_x + 10P_y Q_S = -8 + 2P_x - 4P_R where P_x is the price of x; P_y is the price of good Y and P_R is the price of a resource R. Suppose the present price of good x is P_x = $45, P_y = $9 and P_R = $8. 1 - Based on the demand equation x and Y are 2 - The simplified demand function is: Q_D = 3 - The simplified supply function is: Q_S = and the Quantity 4 - When the price of good x is $45 the Quantity Demanded is Supplied is 5 - When the price of good x is $45 the there is a 6 - The equilibrium price and quantity are: P* = and Q* = 7 - When price of Y increases from $9 to P_y = $17 the NEW simplified demand function is: Q_D = ,- P_x 8 - When price of R decreases from $8 to P_A = $3 the NEW simplified supply function is: Q_S = P_x 9 - When price of Y increases to P_y = $17 and the price of R decreases to P_R = $3 the NEW equilibrium price and quantity are: P* = and Q* = If the NEW equilibrium price P_x of good x changes to $30 there will be a of units.
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Transcript

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00:01 Hello everyone.
00:02 So the question says that determine the total fixed cost for producing 1 ,000 units of output and 500 units of output.
00:10 And what is the afc at 1 ,000 units of output? 500 units of output.
00:16 As well as third says, determine tvc, avc, mc and ac at 50 units of output.
00:24 Now talking about total cost.
00:27 So it is given that total cost is equals to 1500 plus 15 ,000 plus 15 ,000.
00:33 Q minus 6 q square plus q q q fixed cost is the constant part of the total cost and constant part of total cost is 1500 so fixed cost is also 1500 now as we know that a fc is equals to fixed cost divided by q total fixed cost is constant irrespective of the quantity produce now total fixed cost at 1 ,000 units and 500 units is 15 so total fixed cost at q is equals to 1000 is fixed cost is equals to 1500 and when q is equals to 500 so fixed cost is equals to 1500 similarly a fc is equals to fixed cost divided by q so at q is equals to 1000 afc is equal to 1 ,000 afc is equals to 1500 divided by 1000 that is equals to 1 .5 whereas q is equals to 500 so afc is equals to 1500 divided by 500 that gives 3 so a a fc at q is equals to 1 ,000 will be 1 .5 and afc at q is equal to 500 will be 3.
02:39 Coming to the third part that says tvc is the variable part of total cost.
02:49 So, tvc is equals to total cost minus total fixed cost...
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