Temple University

Department of Economics

Principles of Microeconomics

Name Key

The equations describing the market for wind turbines, a source of renewable electrical energy, are given below.  Use the 'radio' buttons to indicate which is the demand curve and which is the supply curve. The slope is the tip-off.

1.  P = 100 - 4 Q     Demand   Supply

2.  P = 20 + Q          Demand   Supply

3. Solve the pair of equations for the equilibrium price and quantity.   Price = 36   Quantity = 16

The equations describing the market for seats at the Super Bowl are given below. Use the radio buttons to indicate which is the demand curve and which is the supply curve.

4. Q = -10 + 1/4 P      Demand    Supply

5. P = 90 - 6 Q             Demand     Supply

6. Solve the pair of equations for the equilibrium price and quantity.  Price =60    Quantity = 5

The equations describing the market for cultured pearls from Ise-shima are given below.

7.  P = 6 + 1/5 Q     Demand   Supply

8.  Q = 120 - 10 P   Demand   Supply

9.  If P = 12, what will be the quantity demanded?  Q demanded = 0

10 If P = 12, what will be the quantity supplied?   Q supplied = 30

11.  When P =12 there is excess demand  supply   in the amount of  30 pearls.