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Please find attached the solution to assignment # 1 of economics. Please use this document only for information and guidance.

I will not be held liable for any misuse of this document.

Best Regards,
BM

Question:

Suppose the market demand and market supply for coffee is given by the

following equations:

Qd = 850 – 15P

Qs = 400 + 30P

A. Find quantity demanded and quantity supplied when the price of coffee is

Rs. 8. Is there a surplus or shortage in the production of coffee? What

should happen to the price of coffee?

B. Find the equilibrium price for coffee by using given demand and supply

equations.

C. Prove that the price found in part (B) is an equilibrium price.

D. Show the equilibrium condition in coffee market graphically.

Marks: A = 6(4+1+1), B = 2, C = 3, D = 4

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Replies to This Discussion

Tariq bhai plz provide solution of this with graph shade as demand..

Question:

Suppose the market demand and market supply for coffee is given by the

following equations:


Qd = 850 – 15P

Qs = 400 + 30P



A. Find quantity demanded and quantity supplied when the price of coffee is Rs. 8. Is there a surplus or shortage in the production of coffee? What should happen to the price of coffee?


B. Find the equilibrium price for coffee by using given demand and supply equations.


C. Prove that the price found in part (B) is an equilibrium price.


D. Show the equilibrium condition in coffee market graphically.


Marks: A = 6(4+1+1), B = 2, C = 3, D = 4


Calculate to the point where calculation is being required. NO need to write irrelevant material or extra interpretation.


Draw equilibrium condition in coffee market by yourself. Do NOT copy from any source. NO need to write irrelevant material.


Graphs are very important in Economics course. This assignment will enhance your skill of drawing graphs. A complete procedure of "How to draw graphs in MS-Word" is uploaded on announcement page of LMS. Get help from that uploaded file to solve part D of this assignment.
ECO401 assignment#01 Solution Provided By BM
See the attached file pls
Attachments:
I have already seen this sttached file but not confirmed about the accuracy. Please concirm us that its an accurate solution or not...
I want to know form u about this solution ..
Whats ur openion..
Khawaja Abbas! Black Mist solved all the questions with accuracy but graph is not correct in my opinion.
In graph demand & supply curve should have to derive. I m sharing a file here. Check it. might be helpful.
Attachments:
hw to make graph plz guide me .part D smja den.
apko draw karney ka nahi pata ya phir plotting karney ka nahi pata...
mj kch b ni pta graf ka
uzma nazir chk it nd mke ur own grph hpe so it ll hlpful 4r u n all .............
Attachments:
graph me txt kese krte he??????????
btao plzzzzzzzzzzzzzzzzz
thnx yar bt mj values entr ka b btao
one more idea solution of ECO401 Assignment#1
see the attached file pls
Attachments:
kya ye complt assignment h?

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