Microeconomics

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Microeconomics

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Answered Same Day Sep 13, 2021

Solution

Komalavalli answered on Sep 13 2021

172 Votes

1.
60 =81-7Q
7Qb = 21
Qb =3
Consumer will purchase 3 units.
2.
Supply
Pv = 29+4Qv
73 = 29+4Qv
4Qv = 44
Qv =11
Supply is 11
3.
Eq supply
81-5Qb = 34+3Qv
47=8Qv
Qv = 5.8
Pv = 52
Quantity supplied at price floo
67 = 34+3Qv
33 = 3Qv
Qv = 11
Excess supply = 5.8-11
Excess supply...

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Microeconomics

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