1.The market for sandwich has: Supply of sandwiches: QS= 20P + 300Demand for a sandwiches QD= -70P + 1,200

1a. Calculate the equilibrium price and quantity of a sandwiches.

1b. If the production of sandwiches increase for 180, calculate the new equilibrium price and quantity of sandwiches. Explain your answer.

2. Jill buys skateboards (S) and wheels (W) for the skateboard. For each skateboard, she buys 4 wheels for the skateboard.The price of a skateboard is $45 and the price of the four skateboard wheels is $15 (total cost for ALL 4 wheels is $15).Income is $525. Solve for the budget constraint, utility function, and calculate using the theory from class how many skateboards and wheels will be purchased.

3.Mark buys soda (S) and pizza (P) and has an income of $64.The price of a soda is $4 and the price of pizza is $16.The utility function is U(S,P) = 3S + 4P

3a. Write down the budget constraint and calculate how many pizza's and soda's will be purchased.Explain your answer.

3b. Because of a production problem, the price of soda doubles to $8 but the price of pizza remains at $16. Write down the budget constraint and calculate how many pizza's and soda's will be purchased.Explain your answer.

4. Sue buys cheese, bread and other goods.