The inverse demand curve for a commodit market is P=180-Q. The inverse supply curve is MC=Q. Based on this information:

a) What is the equilibrium price level if this market is competitve?
b) What is equilibrium quantity level if this market is competitive?
c) What is equilibrium price level if this market is monopolized?
d) What is equilibrium quantity level if this market is monopolized?
e) What is the net economic efficiency cost of the monopoly market compared to the competitive market baseline?

Now suppose a unit tax is imposed of 20 per unit.

f) What is the equilibrium demand price level in the competitive market when this 20 unit tax is imposed?

g) What is the equilibrium quantity in the competitive, when this 20 unit tax is imposed?

h) What is the net efficiency cost of the tax, relative to the pre-tax status quo in the competitive market

Now going to the monopoly market:
i) What is the equilibrium demand price level in the monopoly market when this 20 unit tax is imposed?

j) What is the equilibrium quantity in the monopoly market when this 20 unit tax is imposed?

Given the following demand and supply equations:
Demand: Q=100 - 5P
Supply: Q=20P
1. What is the equilibriumprice?
2. What is the equilibrium quantity?
3. Using Excel andÂ prices in the range of $1 to $10, generate the demand and supply schedules for the initial equations.
4. Use Excel to plot a graph of your

Supply and Demand Analysis.
a) Illustrate the market for a good by drawing the industry's demand and supply curves. On the graph, identify the equilibriumprice and the equilibrium quantity. Be sure to label all axes and curves.
b). If the market price is less than the equilibriumprice, what is the relationship of quant

1.If the market price is less than the equilibriumprice, what is the relationship of quantity supplied to quantity demanded? What will happen to the price?
2. If the market price is greater than the equilibriumprice, what will be created in the market, and what will happen to the price?
3. What is the final impact

How will each of the following changes in demand and/or supply affect equilibriumprice and equilibrium quantity in a competitive market; that is, do price and quantity rise, fall, or remain unchanged, or are the answers indeterminate because they depend on the magnitudes of the shifts?
a Supply decreases and demand is const

Compute the market demand and determine the market equilibriumprice and market equilibriumdemand.
1. Use the following demand data to compute the market demand when the price is $45.
P D1 D2 D3
37 20 4 8
47 15 2 7
57 9 1 6
67 5 1 4
2. Use the following supply data along with the demand data fr

Suppose the demand for Levi jeans increases by 9%. If the supply elasticity is 0.7 and the demand elasticity is 0.8 what will be the percentage change in the equilibriumprice?

Suppose that the aggregate demand and aggregate supply schedules for a hypothetical economy are as shown:
Real GDP demanded Pricelevel Real GDP supplied
100 300 450
200 250 400
300 200 300
400 150 200
500 100 100

How will each of the following changes in demand and/or supply affect equilibriumprice and equilibrium quantity in a competitive market; that is do price and quantity rise, fall, remain unchanged, or are the answers indeterminate, depending on the magnitudes of the shifts in supply and demand? You should rely on a supply and de