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  Assume that the market demand is 1)P=200-2Q And that the supply curve is P=2Q

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Assume that the market demand is 1)P=200-2Q And that the supply curve is P=2Q. At a price of $50, there will be a _______ of _______ * Surplus; a)25 units Shortage; b)50 units Surplus, c)20 units Shortage, d)75 units

2)If the demand for oranges is written as Q= 100-5P, then the inverse demand function is * a)Q=5P-100 b)Q=20-0.2p c)P=50-5Q d)P=20-0.2Q

3)Assume that the market demand is Qd=300-3P And that the market supply is Qs=300+2P-0.5W. Where W is the market wage of W= $100, what is the market equilibrium price and equilibrium quantity? * a)P*=$10 ,Q*=270 units b)P*=$30 ,Q*=220 units c)P*=$30 ,Q*=320 units d)P*=$10 ,Q*=420 units

4)The market for potatoes can be expressed as follows: Supply: Qs=-20 +10P Demand: Qd= 400-20P. At a Price $10, what would be the quantity traded? * a)280 units b)200 units c)120 units d)80 units

5) The equilibrium price and quantity for children’s stories market are: P equilibruim=$10 and Q equilibruim=300 stories. Further given that at a price of $5, the quantity demanded is 400 stories. Derive the expression of the demand function *a) P=0.1Q+40 b)P=25-0.05Q c)P=350Q+5 d)P=40Q+0.25