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Assignment for Micro Economics

   

Added on  2020-04-07

11 Pages1303 Words52 Views
Page 1 of 11ECONOMICS ASSIGNMENTASSIGNMENT FOR MICROECONOMICS
Assignment for Micro Economics_1
Page 2 of 11Table of contentsQuestion 1:.................................................................................................................................3Question 2:.................................................................................................................................3Question 3:.................................................................................................................................4Question 4:.................................................................................................................................4Question 5:.................................................................................................................................4Question 6:.................................................................................................................................5Question 7:.................................................................................................................................5Question 8:.................................................................................................................................5Question 9:.................................................................................................................................6Question 10:...............................................................................................................................7Calculation of the elasticity at point c........................................................................................7Calculation of the elasticity of supply........................................................................................8Calculation of the consumer surplus..........................................................................................8Calculation of the producers’ surplus........................................................................................9Reference..................................................................................................................................11
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Page 3 of 11Question 1:020406080100020406080100120140Demand CurveDemand CurveQuantityPriceFigure 1: The demand curve(Source: Developed by the learner)Question 2: 020406080100020406080100120140Suppy CurveSuppy CurveQuantityPriceFigure 2: The supply curve(Source: Developed by the learner)
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Page 4 of 11Question 3:The demand curve equation for chicken is,Y=120-X => Xd=120-YWhere the Y= price of chickenX= is the demand for chickenQuestion 4: The supply curve equation for chicken is,Y=X+20 => Xs= Y-20Where the Y= price of chickenX= is the demand for chickenQuestion 5: 0204060801001200204060801001201402040608010012012010080604020f(x) = x + 20f(x) = − x + 120Demand and supply equilibriumDemandLinear (Demand)SupplyLinear (Supply)QuantityPriceFigure 3: The demand and the supply equilibrium of the chicken market(Source: Developed by the learner)
Assignment for Micro Economics_4

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