Description
Introduction to Quantitative Analysis (ECO2IQA)
Math Problem
Section A with 10 multiple choice questions (Questions 1 - 10).
Section B with two working questions (Questions 11 - 12).
Approximately 3 pages
no sources required.
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Explanation & Answer
Attached.
QUANTITATIVE ANALYSIS
1
Your name
Instructor’s name
Course
Date of submission
QUANTITATIVE ANALYSIS
INTRODUCTION TO QUANTITATIVE ANALYSIS
1. A
2. A
3.A
4. C
5. A
6. A
7. A
8. A
9. D
10. A
11
a [ i] Qd=6-2p
Qs= 3+p
Qd=Qs
6-2p=3+p
6-3=p+2p
3=3p
2
QUANTITATIVE ANALYSIS
p=1
Q=3+P
Q=3+1
Q=4
Ii] Qd=10-5/2 p, Qs=3+p
Qd=Qs
10-5/2 p = 3+p
10-3=p+5/2 p
7= 7/2 p
P=2
Qs=3+p
=3+2
=5
iii] Qd=1-p, Qs= 3+p
Qd=Qs
1-p=3+p
1-3=p + p
3
QUANTITATIVE ANALYSIS
4
-2=2p
P=-1
The price is negative. This means that he supply of goods is higher than demand.
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