http://www.monografias.com/trabajos/ofertaydemanda/ofertaydemanda.shtml--- watch Note that the data provided in the plans (or tables) for both the offer and
Question:
http://www.monografias.com/trabajos/ofertaydemanda/ofertaydemanda.shtml--- watch
Note that the data provided in the plans (or tables) for both the offer and the demand for a generic good A, are already graphed.
1. Read the essay up to chapter II "Supply and Demand" 3. Also note that the break-even point is also graphically and tabularly identified. 4. Notice that the function that produced that data is not present 5. Now, using the data from the tables TABLES 1 and TABLE 4: Table of supply and demand of good A, you are going to develop the supply and demand function(s) and calculate the points of balance as you have learned. 6. Assuming a linear relationship, use the price(s) and quantity(s) data found at beginning and end of the table and develops the supply and demand functions. 7. Calculate the break-even point. 8. Verify the quantities provided in the monograph table by calculating using the functions you developed. 9. Check the break-even point you calculated and compare it to the one already provided in the graph and table of the monograph. 10. Present your calculations individually and in tabular form.