Q2: suppose the demand and supply equation for eggs in market is: Qd= 100-2p; Qs= 10+40p i. Complete the given table ii. Graphically show the equilibrium iii. Find PED: for 0.5 to 1.5 and 2.5 to 1.0...


Q2: suppose the demand and supply equation for eggs in market is:<br>Qd= 100-2p;<br>Qs= 10+40p<br>i. Complete the given table<br>ii. Graphically show the equilibrium<br>iii. Find PED: for 0.5 to 1.5 and 2.5 to 1.0<br>iv. What happened to the eggs market if Government increases tax on poultry farm business<br>and on the other hand consumer decreases the consumption of eggs because of<br>reeducation in their income level (show and explain graphically)<br>Price<br>Qd<br>Qs<br>0.5<br>1.0<br>| 1.5<br>| 2.0<br>| 2.5<br>

Extracted text: Q2: suppose the demand and supply equation for eggs in market is: Qd= 100-2p; Qs= 10+40p i. Complete the given table ii. Graphically show the equilibrium iii. Find PED: for 0.5 to 1.5 and 2.5 to 1.0 iv. What happened to the eggs market if Government increases tax on poultry farm business and on the other hand consumer decreases the consumption of eggs because of reeducation in their income level (show and explain graphically) Price Qd Qs 0.5 1.0 | 1.5 | 2.0 | 2.5

Jun 07, 2022
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