Answered step by step
Verified Expert Solution
Question
1 Approved Answer
21 (a) (a) There has been a shift in demand curve to the to the right for transport services in kenya. In your opinion, what
21 (a) (a) There has been a shift in demand curve to the to the right for transport services in kenya. In your opinion, what could have led to this shift (10 marks) (b) Government may influence demand of a product in a country. Explain ways in which such demand may be influenced. (10 marks) (c) ) The market for tomato sauce in Kiambu county has the following demand and supply function. Qd=80-2P and Qs= 38+4P. Price is in ksh. ) determine the equilibrium point. (6 marks) (ii) if the price rises by 2 ksh, state the quantity to be demanded and supplied. (4 marks)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started