COMM 220 Lecture Notes - Lecture 7: Gotland Regiment

• School: Concordia University
• Department: Commerce
• Course: COMM 220
• Professor: Krista Riley

Document Summary

Comm 220 practice problem set 4 solutions. Qd = qs p* = (6342 948)/(242 + 106) = . 5 and q* = 6342 242(15. 5) = 2591. For demand: q = 0, p = 6342/242 = 26. 2066; p = 0, q = 6342. For supply: p = 0, q = 948. P = 12, qd = 6342 242(12) = 3438 and qs = 948 + 106(12) = 2220. Qd > qs shortage = 3438 2220 = 1218. Qd = 2220, p = (6342 2220)/242 = 17. 0331. Cs = a b = (15. 5 12)(2220) (17. 0331 15. 5)(2591 2220)/2 = . 61. Ps = a c = (15. 5 12)(2220) (15. 5 12)(2591 2220)/2 = . 25. Dw loss = cs + ps = b c = . 64. P = 18, qd = 6342 242(18) = 1986 and qs = 948 + 106(18) = 2856. Qs > qd surplus = 2856 1986 = 870. Qs = 1986, p = (1986 948)/106 = 9. 7925.