Xpert
04-13-2011, 12:53 AM
Assignment No.01 Marks: 20
Question:
Suppose the market demand and market supply for Levis jeans is given by the
following equations:
Qd = 5000 – 2.5P
Qs = 4000 + 1.5P
A. Find quantity demanded when price is Rs. 250, Rs. 450 and Rs. 650.
B. Find quantity supplied when price is Rs. 200, Rs. 400 and Rs. 600.
C. Find equilibrium price and equilibrium quantity with the help of above
equations.
D. Show the equilibrium condition in Levis jeans market graphically.
Marks: A=3(1 for each value), B=3(1 for each value), C=8(4 for each value), D=6
Question:
Suppose the market demand and market supply for Levis jeans is given by the
following equations:
Qd = 5000 – 2.5P
Qs = 4000 + 1.5P
A. Find quantity demanded when price is Rs. 250, Rs. 450 and Rs. 650.
B. Find quantity supplied when price is Rs. 200, Rs. 400 and Rs. 600.
C. Find equilibrium price and equilibrium quantity with the help of above
equations.
D. Show the equilibrium condition in Levis jeans market graphically.
Marks: A=3(1 for each value), B=3(1 for each value), C=8(4 for each value), D=6