Homework Help: Economics

Posted by Bayarbold on Sunday, October 2, 2011 at 10:09am.

This is about economic solution.There are 2 regions but they were given by different each other function of demand and supply.1.First question is we won't sell these products on both regions and you can't transport the product each other.So please find the equilibrium price,equilibrium quantity,shortage and surplus of goods on one by one.Functions were written below.
a.Q(demand)=50-0.5P
Q(supply)=-10+P (first region)
b.Q(demand)=120-P
Q(supply)=-20+P (second region)
2.If you can transport the product to these 2 regions cheapestly,please find the equilibrium quantity on these 2regions one by one.If you can't transport any product from first to second region,who can get a profit from them?.Who can't get a profit from these condition?

Economics - SraJMcGin, Sunday, October 2, 2011 at 10:40am
This is not my area, but see if any of the following links will help you:

http://www.google.com/search?q=how+to+find+the+equilibrium+price%2C+equilibrium+quqantity%2C+shortage+%26+surplus+of+goods&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-US:official&client=firefox-a

Certain products sell better in certain areas, so you would not want to transport them to areas where they will not sell.

Sra
Economics - Bayarbold, Sunday, October 2, 2011 at 10:47am
But this condition is abstraction,so this condition is unreliable on real life.Please think abstractly,so maybe we can solve them.But I have not good idea.Do you have any solution?

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