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Market Analysis Demand Supply

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Subject
Business
School
Career Institute of Florida
Type
Homework
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Running head: EVALUATING MARKET TRENDS AND EVENTS
Evaluating Market Trends and Events using Demand and Supply Principles
Name
University

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EVALUATING MARKET TRENDS AND EVENTS 2
Evaluating Market Trends and Events using Demand and Supply Principles
Given the demand function Q
D
= 120 – 4P and the supply function Q
S
= 2P, where P and
Q are price, and quantity respectively, the demand and supply values for single bedroom rental
units in Prescott, Arizona would be as shown in the table below:
Table 1: Demand and Supply Data for Single Bedroom Rental Units in Prescott, Arizona
P ($)
Demand (Q
D
= 120 – 4P)
Supply (Q
S
= 2P)
1
116
2
2
112
4
3
108
6
4
104
8
5
100
10
6
96
12
7
92
14
8
88
16
9
84
18
10
80
20
11
76
22
12
72
24
13
68
26
14
64
28
15
60
30
16
56
32
17
52
34
18
48
36
19
44
38
20
40
40
21
36
42
22
32
44
23
28
46
24
24
48
25
20
50
26
16
52
27
12
54
28
8
56
29
4
58
30
0
60

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Running head: EVALUATING MARKET TRENDS AND EVENTS Evaluating Market Trends and Events using Demand and Supply Principles Name University EVALUATING MARKET TRENDS AND EVENTS 2 Evaluating Market Trends and Events using Demand and Supply Principles Given the demand function QD = 120 – 4P and the supply function QS = 2P, where P and Q are price, and quantity respectively, the demand and supply values for single bedroom rental units in Prescott, Arizona would be as shown in the table below: Table 1: Demand and Supply Data for Single Bedroom Rental Units in Prescott, Arizona P ($) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Demand (QD = 120 – 4P) Supply (QS = 2P) 116 2 112 4 108 6 104 8 100 10 96 12 92 14 88 16 84 18 80 20 76 22 72 24 68 26 64 28 60 30 56 32 52 34 48 36 44 38 40 40 36 42 32 44 28 46 24 48 20 50 16 52 12 54 8 56 4 58 0 60 EVALUATING MARKET TRENDS AND EVENTS 3 Based on the demand and supply data in Table 1, the demand and supply curves for single bedroom rental units in Prescott, Arizona, would appear as shown below: Fig. 1: Demand and Supply Curves for Single Bedroom Rental Units in Prescott, Arizona The equilibrium is at the point of intersection of the demand and supply curves. The price and quantity at the equilibrium point are the equilibrium price and equilibrium quantity, respectively, in this case, $20, and 40 rental units. The equilibrium price and quantity in Fig. 1 are determined by the free interaction b ...
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