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    10 Segismundo, Ma. Isabella 12 Gilead Apolaki Week 5 Textbook Exercises

    Uploaded by

    Maria Isabella
    The document contains sample demand and supply schedules for bottled water. It provides Robert's demand function and calculates his demand at various price points. It also provides Rudolph's supply function and calculates his supply at various price points. It then constructs a demand curve for Robert and a supply curve for Rudolph on the same graph. By looking at the intersection of the curves, it identifies the equilibrium price as ₱10 and the equilibrium quantity as 55 bottles of water.

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    10 Segismundo, Ma. Isabella 12 Gilead Apolaki Week 5 Textbook Exercises

    Uploaded by

    Maria Isabella
    111 views2 pages
    The document contains sample demand and supply schedules for bottled water. It provides Robert's demand function and calculates his demand at various price points. It also provides Rudolph's supply function and calculates his supply at various price points. It then constructs a demand curve for Robert and a supply curve for Rudolph on the same graph. By looking at the intersection of the curves, it identifies the equilibrium price as ₱10 and the equilibrium quantity as 55 bottles of water.

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    The document contains sample demand and supply schedules for bottled water. It provides Robert's demand function and calculates his demand at various price points. It also provides Rudolph's supply function and calculates his supply at various price points. It then constructs a demand curve for Robert and a supply curve for Rudolph on the same graph. By looking at the intersection of the curves, it identifies the equilibrium price as ₱10 and the equilibrium quantity as 55 bottles of water.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    111 views2 pages

    10 Segismundo, Ma. Isabella 12 Gilead Apolaki Week 5 Textbook Exercises

    Uploaded by

    Maria Isabella
    The document contains sample demand and supply schedules for bottled water. It provides Robert's demand function and calculates his demand at various price points. It also provides Rudolph's supply function and calculates his supply at various price points. It then constructs a demand curve for Robert and a supply curve for Rudolph on the same graph. By looking at the intersection of the curves, it identifies the equilibrium price as ₱10 and the equilibrium quantity as 55 bottles of water.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    10

    Segismundo, Ma. Isabella


    12 Gilead Apolaki
    Week 5 Textbook Exercises

    Summative Assessment II
    II. A. Using the following demand function, solve for the demand schedule of consumer Robert
    given the following prices for bottled water:
    Qd = 60 – P/2

    Prices Qd
    ₱0 60 – (0) P/2 -> 60 – 0 = 60

    2 60 – (2) P/2 -> 60 – 1 = 59


    4 60 – (4) P/2 -> 60 – 2 = 58
    6 60 – (6) P/2 -> 60 – 3 = 57
    8 60 – (8) P/2 -> 60 – 4 = 56
    10 60 – (10) P/2 -> 60 – 5 = 55
    12 60 – (12) P/2 -> 60 – 6 = 54
    14 60 – (14) P/2 -> 60 – 7 = 53
    16 60 – (16) P/2 -> 60 – 8 = 52

     Based on this schedule, construct a demand curve for Robert.

    B. On the other hand, for Rudolph, a seller of bottled water in the market, the supply function
    is given as:
    Qs = 5 + 5P
    Prices Qs
    ₱0 5 + 5(0) -> 5 + 0 = 5
    2 5 + 5(2) -> 5 + 10 = 15
    4 5 + 5(4) -> 5 + 20 = 25
    6 5 + 5(6) -> 5 + 30 = 35
    8 5 + 5(8) -> 5 + 40 = 45
    10 5 + 5(10) -> 5 + 50 = 55
    12 5 + 5(12) -> 5 + 60 = 65
    14 5 + 5(14) -> 5 + 70 = 75
    16 5 + 5(16) -> 5 + 80 = 85

     Construct the supply curve of Rudolph and put it in a graph with Robert’s demand curve.
     Assuming that Rudolph is the only seller and Robert is the only buyer in the market, identify the
    equilibrium price and quantity
    P Qs
    0 60 5

    2 59 15
    4 58 25

    6 57 35

    8 56 45

    10 55 55

    12 54 65
    14 53 75

    16 52 85

    Therefore, the equilibrium price and quantity of this instance would be 55.

    16
    14
    12
    10
    8
    4
    2
    0
    0 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75 80 85

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