You have the choice of entering 1 or 2 markets. Your supply function is the same in each market, it is Qs = 25+ 3*P In Market A, the demand function is: QD 100 -2*P + (.25)*M where M is income in the market and it is $100,000 (but just enters as "100" as we've done all semester In Market B, the demand function is: Multiple Choice QD=130 - 2*P+ (4) M where M is income in the market and it is $50,000 (but just enters as "50" as we've done all semester). Which of the following is correct?

You have the choice of entering 1 or 2 markets. Your supply function is the same in each market, it is Qs = 25+ 3P In Market A, the demand function is: QD 100 -2P + (.25)M where M is income in the market and it is $100,000 (but just enters as "100" as we've done all semester In Market B, the demand function is: Multiple Choice QD=130 - 2P+ (4) M where M is income in the market and it is $50,000 (but just enters as "50" as we've done all semester). Which of the following is correct?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪▪ 03: If the supply and demand functions for a commodity are 100+ 2(4 + Pa = -(Q.) P₁ = (Q + 2)² E plot each function on the same graph Estimate the equitum pana and quantity signhramaly and graphicaly **********‒‒‒‒‒‒‒‒‒‒‒‒‒