Question

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DEMAND FUNCTIOn: Qd = 120 - 4P
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1.) Qd = 120 - 4P
Qd = 120 - 4(30)
Qd = 120 - 120
Qd = 0

answer: Qd = 0

2.) P = a - Qd/b
P = 120 - 24/4
P = 96/4
P = 24

answert: P = 24

3.) P = a - Qd/b
P = 120 - 40/4
P = 80/4
P = 20

answer: P = 20

4.) Qd = 120 - 4P
Qd = 120 - 4(18)
Qd = 120 - 72
Qd = 48

answer: Qd = 48

5.) P = a - Qd/b
P = 120 - 72/4
P = 48/4
P = 12

answert: P = 12

6.) Qd = 120 - 4P
Qd = 120 - 4(8)
Qd = 120 - 32
Qd = 88

answer : Qd = 88

Answer 1

Answer:

Draw a demand and supply diagram of the market for petrol without the tax. Show the

price paid by consumers, price received by producers and the quantity of petrol sold.

What is the difference between price paid by consumers and received by producers?

ii. Draw a demand and supply diagram of the market for the petrol with the tax. Show the

price paid by consumers and received by producers and the quantity of petrol sold.

What is the difference between the price paid by consumers and received by

producers? Has the quantity of petrol sold increased or decreased?

Observe the figure, find the 1 point

value of x.

5

S

T

12

x

U U

O 17 units

O 13 units

Answer 2

Answer:

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