The Market for Wheat Example 2.5

The Market for Wheat Example 2.5 - 3284 2530 New Supply...

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Intercept Slope Quantity Price 3550 -266 2630.04 $3.46 1800 240 2630.04 Equilibrium 0 Demand Function Supply Function Excess demand Q D -Q S
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Price Quantity Intercept $3.46 2630.04 Supply 1800 240 -1 $- Demand 3550 -266 -1 0 New deman 5000 -900 -1 -742.69 Price coefficient Quantity Coefficient residual/e xcess
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A market equilbrium occurs where both H2 and H3 are zero
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Equilibrium with new demand Page 4 2.29 2941.64
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Price Supply QuaDemand Q New Supply Intercept Price coefficient $0.00 1800 3550 2200 Supply 1800 240 $0.50 1920 3417 2365 Demand 3550 -266 $1.00 2040
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Unformatted text preview: 3284 2530 New Supply 2200 330 $1.50 2160 3151 2695 $2.00 2280 3018 2860 $2.50 2400 2885 3025 $3.00 2520 2752 3190 $3.50 2640 2619 3355 $4.00 2760 2486 3520 $4.50 2880 2353 3685 $5.00 3000 2220 3850 $5.50 3120 2087 4015 $6.00 3240 1954 4180 $6.50 3360 1821 4345 $7.00 3480 1688 4510 1500 2000 2500 3000 3500 4000 $0.00 $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 $7.00 $8.00 Quantity Price 4500 5000 Supply Quantity Demand Quantity New Supply...
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This note was uploaded on 11/13/2009 for the course ECON 181 taught by Professor Kasa during the Spring '07 term at University of California, Berkeley.

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The Market for Wheat Example 2.5 - 3284 2530 New Supply...

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