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    Managerial Economics-1 PDF

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    Janine anzano
    This document provides sample tutorial questions about demand, supply, and market equilibrium for a managerial economics course. It includes questions about defining key economic concepts related to demand and supply, illustrating demand and supply curves, determinants of demand and supply, solving for equilibrium price and quantity using demand and supply equations, and analyzing how changes in market conditions affect demand, supply, and equilibrium.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Managerial Economics-1 PDF

    Uploaded by

    Janine anzano
    247 views4 pages
    This document provides sample tutorial questions about demand, supply, and market equilibrium for a managerial economics course. It includes questions about defining key economic concepts related to demand and supply, illustrating demand and supply curves, determinants of demand and supply, solving for equilibrium price and quantity using demand and supply equations, and analyzing how changes in market conditions affect demand, supply, and equilibrium.

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    Managerial economics-1.pdf

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    This document provides sample tutorial questions about demand, supply, and market equilibrium for a managerial economics course. It includes questions about defining key economic concepts related to demand and supply, illustrating demand and supply curves, determinants of demand and supply, solving for equilibrium price and quantity using demand and supply equations, and analyzing how changes in market conditions affect demand, supply, and equilibrium.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    247 views4 pages

    Managerial Economics-1 PDF

    Uploaded by

    Janine anzano
    This document provides sample tutorial questions about demand, supply, and market equilibrium for a managerial economics course. It includes questions about defining key economic concepts related to demand and supply, illustrating demand and supply curves, determinants of demand and supply, solving for equilibrium price and quantity using demand and supply equations, and analyzing how changes in market conditions affect demand, supply, and equilibrium.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 4

    MANAGERIAL ECONOMICS

    ECON 105 – TUTORIAL QUESTIONS Topic: Demand, Supply and Market Equilibrium

    NAME/S: (1)_______________________________________ COURSE/BLOCK: _____________


    (2)_______________________________________
    (3)_______________________________________

    1. Define the following concepts and explain their economic significance:

    a. Demand

    b. Quantity demanded

    c. Direct/Positive relationship

    d. Inverse/Negative relationship

    e. Normal Goods

    f. Inferior Goods

    g. Substitute Goods

    h. Complementary Goods

    i. Supply
    1/27/2020

    j. Market Equilibrium

    MSCARBONELL
    1
    MANAGERIAL ECONOMICS
    ECON 105 – TUTORIAL QUESTIONS Topic: Demand, Supply and Market Equilibrium

    2. Illustrate the Demand and Supply curve and properly label the graph.

    Demand Supply

    3. Illustrate the difference between a Change in Demand and a Change in Quantity


    demanded.

    Change in Demand Change in Quantity demanded

    4. Illustrate the difference between a Change in Supply and a Change in Quantity Supplied.

    Change in Supply Change in Quantity supplied


    1/27/2020

    MSCARBONELL
    2
    MANAGERIAL ECONOMICS
    ECON 105 – TUTORIAL QUESTIONS Topic: Demand, Supply and Market Equilibrium

    5. Determinants of Demand and Supply. Fill in the missing algebraic signs (+ or - ) of the
    demand and supply equations for chicken meat used in making the local dish “TINOLA”
    below according to the hypothesized direction of relationships.

    𝑸𝑫
    𝒄𝒉𝒊𝒄𝒌𝒆𝒏 𝒎𝒆𝒂𝒕 = ___ PC ___ N ___ I ___ T ___ PB ___ PP

    𝑸𝑺𝒄𝒉𝒊𝒄𝒌𝒆𝒏 𝒎𝒆𝒂𝒕= ___ PC ___ Tech ___ W ___ WM ___PF

    Where: Q - quantity of chicken meat in kilograms, per day


    PC - price of chicken meat (in pesos per kilograms)
    I - income of the average consumer (in pesos per day)
    PB - price of beef (in pesos per kilogram)
    PP – price of Papaya (in pesos per piece)
    N – market size for chicken
    T – Taste/preference of the consumers
    WM - wage rate paid in the poultry business (in pesos per day)
    W – current weather (rainy season)
    PF - price of mixed feeds (in pesos per kilogram)
    Tech – Technology used in poultry business (manual labor)

    Note: Reflect on the effects of the different factors of demand and supply to the quantity demanded and
    quantity supplied, respectively. Is it positive (+) relationship or negative (-) relationship.

    6. Illustrate the market equilibrium and properly label the graph.

    1/27/2020

    MSCARBONELL
    3
    MANAGERIAL ECONOMICS
    ECON 105 – TUTORIAL QUESTIONS Topic: Demand, Supply and Market Equilibrium

    7. Using the demand and supply equations, solve for the Equilibrium Price and Quantity
    and complete the table below (show one sample solution for QD and QS)

    QD = 2,350 – 25P QS = 5P + 1,300

    Where: QD – Quantity Demanded


    QS – Quantity Supplied
    P – Price

    Price QD QS Surplus/Shortage
    65
    55
    45
    35
    25
    15

    8. DEMAND – For each of the following cases, illustrate and state how demand for the
    vehicle, “MITSUBISHI Mirage”, behaves, i.e., whether there is an increase or decrease in
    demand or in quantity demanded.
    a. The price of gasoline rises because of a shortage in the world petroleum market.
    b. A lower “HYUNDAI eon” enters the car market.

    9. SUPPLY – Illustrate and indicate whether a movement upward or downward along the
    supply curve, or a shift leftward or rightward of the supply curve of MANGOES occurs for
    the following cases:
    a. The current crop of mangoes is infested by fruit flies.
    b. The price of pesticides against fruit flies increases due to 10 percent import levy.

    10. MARKET EQUILIBRIUM. Describe what will happen to equilibrium price and quantity of
    each of the commodities given the corresponding hypothetical situations.
    a. Coffee: The Philippine Medical Association announces that caffeine in coffee
    causes heart attack.
    b. Pork: Foot and mouth disease (FMD) hits thousands of pigs resulting in a very high
    1/27/2020

    mortality rate.

    MSCARBONELL
    4

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