Answered You can hire a professional tutor to get the answer.
Consider the general demand function Qd = 8000 - 16P + 0.
Consider the general demand functionQd = 8000 – 16P + 0.75 M + 30 PgifM = $30,000 and Pg = $50,what is the constant term if the equation for the demand curve is written in the formQd = a – bP?Question 2 Using the information from the above problem, what is the quantity demanded when the price of good is $1000?Question 3 Consider the supply functionQs = 60 + 5P – 12Pi + 10 FWhere Qs = quantity supplied, P = price of the commodity, Pi = price of a key input in the production process, and F = number of firms producing the commodity. Of Pi = $90 and F = 20, what is the intercept of the supply curve written asQs = a + bPQuestion 4 Using the information in the above problem, what is the intercept (a’) of the inverse supply function written in the formP = a’ – b’QsQuestion 5 Using the information in the above two problems, what is the coefficient for quantity (b’) of the inverse supply function written in the formP = a’ – b’QsQuestion 6 Suppose you are the manager of a California winery. How would you expect the following events to affect the price you receive for a bottle of wine?The price of comparable French wines decreases.One hundred new wineries open in California.The unemployment rate in the United States decreases.The price of cheese, a complementary product, increases.The price of a glass bottle increases significantly due to new government anti-shatter regulations.Researchers discover a new wine-making technology that reduces production costs.The price of wine vinegar, which is made from leftover grape mash, increases.The average age of consumers increases, and older people drink less wine.Answer A.
