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Suppose the demand and supply curves for eggs in the United
States are given by the following equations:
Qd = 100 - 20P
Qs = 10 + 40P
where Qd = millions of dozens of eggs Americans would like to
buy each year; Qs = millions of dozens of eggs U.S. farms
would like to sell each year; and P = price per dozen of eggs.
Fill in the following table:
Price Quantity Quantity
( Per Dozen) Demanded (Qd) Supplied (Qs)
$ .50
$ 1.00
$ 1.50
$ 2.00
$ 2.50

Respuesta :

tutorAnne

Answer:  Please find answers in explanation column

Explanation:

Given

Qd = 100 - 20P

Qs = 10 + 40P

Price Quantity       Quantity               Quantity  

( Per Dozen)      Demanded (Qd)    Supplied (Qs)

$ .50                             90                          30

$ 1.00                             80                           50

$ 1.50                            70                           70

$ 2.00                           60                           90

$ 2.50                          50                         110

Calculation

at price = $0.50

Qd = 100 - 20P =  100 - 20 x (0.50) =100-10 =90

Qs = 10 + 40P= 10 + 40 x (0.50)=10+ 20 = 30

at price = $1.00

Qd = 100 - 20P =  100 - 20 x (1.00) =100-20 =80

Qs = 10 + 40P= 10 + 40 x (1.00)=10+ 40 = 50

at price = $1.50

Qd = 100 - 20P =  100 - 20 x (1.50) =100-30 =70

Qs = 10 + 40P= 10 + 40 x (1.50)=10+ 60 = 70

at price = $2.00

Qd = 100 - 20P =  100 - 20 x (2.00) =100-40 =60

Qs = 10 + 40P= 10 + 40 x (2.00)=10+ 80 = 90

at price = $2.50

Qd = 100 - 20P =  100 - 20 x (2.50) =100-50=50

Qs = 10 + 40P= 10 + 40 x (2.50)=10+ 100 = 110

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