- +44 141 628 6080
- info@tutorsglobe.com

New equilibrium price and the new equilibrium quantity

The supply and demand for the paper firm is given by:

QS=100P-5000

and

QD=0.5 i + 0.2A-100P+5000

where Q is the quantity per year, P is price, I is income per household, and A is advertising expenditure.

1. If A=$10,000 and I =$25,000, what is the demand curve?

2. Plot the demand curve found in part A with the supply curve, then use the graph to find the equilibrium price and quantity.

3. If consumer incomes increase to $30,000, what will be the new equilibrium price and the new equilibrium quantity?

Now Priced at $25 (50% Discount)

Recommended **(98%)**

18,76,764

Questions

Asked

21,311

Experts

9,67,568

Questions

Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment
## Q : Can you write a great paper on a research economic topic

can you write a great paper on a research economic topic10 page paperincluding abstract introduction content and