1.Here is an example of a demand curve that is not linear: Price ($) 4 3 2 1 0 Quantity demanded 25 100 225 400 625

2. Plot this demand curve to scale or in Excel.

3.If the supply function in this market is P = 2, plot this function in the same diagram. 72 The classical marketplace - demand and supply

4.Determine the equilibrium quantity traded in this market.

5. The football stadium of the University of the North West Territories has 30 seats. The demand curve for tickets has a price intercept of $36 and a quantity intercept of 72.

6.Draw the supply and demand curves to scale in a graph or in Excel. (This demand curve has the form P = 360.5Q.)

7.Determine the equilibrium admission price, and the amount of revenue generated from ticket sales for each game.

8.A local alumnus and benefactor offers to install 6 more seats at no cost to the University.

9.Compute the price that would be charged with this new supply and compute the revenue that would accrue at this new equilibrium price.

10.Should the University accept the offer to install the seats?

11.Redo the previous part of this question, assuming that the initial number of seats is 40, and the University has the option to increase capacity to 46 at no cost to itself. Should the University accept the offer in this case?

12.Suppose farm workers in Mexico are successful in obtaining a substantial wage increase. Illustrate the effect of this on the price of lettuce in the Canadian winter

13. using a supply and demand diagram, on the assumption that all lettuce in Canada is imported during its winter.

14.7 Let us sum two demand curves to obtain a 'market' demand curve. We will suppose there are just two buyers in the market. Each of the individual demand curves has a price intercept of $42. One has a quantity intercept of 126, the other 84.

15.Draw the demands either to scale or in an Excel spreadsheet, and label the intercepts on both the price and quantity axes.

16. Determine how much would be purchased in the market at prices $10, $20, and $30. 17. Optional: Since you know the intercepts of the market (total) demand curve, can you write equation for it?r