. Use the table to answer questions about the demand for and supply of LED lightbulbs in Canada. Quantity of LED lightbulb lightbulbs Demanded Supplied $15 40,000,000 80,000,000 $12 50,000,000 70,000,000 $10 60,000,000 60,000,000 $7 70,000,000 50,000,000 $5 80,000,000 40,000,000 V. Price per LED lightbulb Quantity of LED a. What is the equilibrium price per LED lightbulb? a-2 $5 b. At a price of $12 per LED lightbulb (circle one answer only) (2 marks): i. a shortage of 20,000,000 LED lightbulbs occurs. ii. equilibrium in the market for LED lightbulbs is reached. shortage of 50,000,000 LED lightbulbs occurs. iii. iv. a surplus of 20,000,000 LED lightbulbs occurs. a surplus of 70,000,000 LED lightbulbs occurs. 2-2 (2 marks) ico at the University of Regina. They are

Demand and SupplyTake a look at the following table.Price Supply Demand$10 105 942$20 190 673$30 304 452$40 490 298Where would the equilibrium price lie?Between $10 and $20Between $20 and $30Between $30 and $40Above $40

Suppose the market demand Q_d (in tonnes) and market supply Q_s (in tonnes) are both linear functions in market price P (dollars in thousands) given by: Q_d=-5P+68, and Q_s=3P-10. What are the price P and trade quantity Q at equilibrium? Round your answer to 3 decimal places. Question 4 Answer a. P=9.750, Q=38.750 b. P=19.250, Q=9.750 c. P=9.750, Q=19.250 d. none of the others e. P=38.750,Q=9.750

Complete the problem by using the accompanying figure, which shows a supply function and a demand function. (Assume price is measured in dollars.)Match the question with the correct answer. Is there a surplus or shortage when the price is $38? a. 56 units If the price is $38, what quantity is demanded? b. 4 units How many units is the surplus or shortage? c. 52 units If the price is $38 what quantity is supplied? d. surplus

Answer the next question based on the demand and cost schedules for a monopolistically competitive firm given in the table below. Price Quantity Demanded Total Cost Output$20 1 $10 118 2 20 216 3 29 314 4 36 412 5 40 510 6 42 6 What output quantity will the monopolistically competitive firm produce to maximize profits?

Question No 48.A trader spent a total of Rs.840 to purchase two varieties of sugar. If the selling price of each variety of sugar was Rs.10 per kg more than the cost price, then the profit would be Rs.450. If the cost price of the first variety is Rs.5 less than the second one and the quantities purchased are in the ratio 2 : 1, what is the cost price (in Rs. per kg) of the second variety of sugar?