The complete set of quantities offered for sale at various prices are called
Quantity supplied
Demand
Supply
Quantity demanded
The complete set of quantities offered for sale at various prices is called supply.
Consider the following demand and supply functions for a good.
Quantity demanded = 160 - 2p
Quantity supplied = - 40 + 2p
(i) Calculate the equilibrium price and quantity.
(ii) Find out a price at which there is excess demand.
(iii) Find out a price at which there is excess supply.
Experts please can I get a help for my economics project .
Topics are -
1) make a list of products for weight you think demand in price inelastic and price elastic . Specifying the reason you may think relevant for your analysis.
2) Develop a hypothetical table at information for coffee that shows quantity demanded at various price and supply of coffee at this price . Draw a demand curve and supply curve and show and equilibrium price at which market is cleared of its supply.