Suppose the functions of demand and supply curves of a commodity are given by : `q^(D)=100-p`
`q^(S)=60+p" for "pge15`
`=0" for "0leplt15`
(i) What does p=15 indicate ?
(ii) Find the equilibrium price and equilibrium quantity.
(iii) Whether the given commodity comes under the category of viable industry.
(iv) Calculate market demand and at price of rupee 16, there is excess demand.

Suppose the demand and supply curves of a Commodity X is given by the following two equations simultaneously: Qd = 200 - p , Qs = 50 + 2p (i) Find the equilibrium price and equilibrium quantity. (ii) Suppose that the price of a factor of production producing the commodity has changed, resulting in the new supply curve given by the equation: Qs'=80+2p Analyse the new equilibrium price and new equilibrium quantity as against the original equilibrium price and equilibrium quantity.

Suppose the demand and supply curve of commodity X in a perfectly competitive market are given by: q^(D)=700-p q^(S)=500+3p " for "pge15 =0 " for " 0 leplt15 Assume that the market consists of identical firms. Identify the reason behind the market supply of commodity X being zero at any price less than rupee 15. What will be the equilibrium price for this commodity? At equilibrium, what quantity of X will be produced?

Given that demand function is Q_(d) = 100-5P (i) Calculate demand at price of Rs. 4 (ii) Calculate demand at price of Rs. 6

Suppose the demand and supply curves of salt are given by: 0ltplt15 q^(D)=1,000-p q^(S)=700+2p (a) Find the equilibrium price and quantity. (b) Now suppose that the price of an input used to produce salt has increased so that the new supply curve q^(S)=400+2p. How does the equilibrium price and quantity change? (c) Suppose the goverment has imposed at tax of rupee 3 per unit on sale of salt. How does it affect the equilibrium price and quantity?