Practice Assignment № 2

Variant № _____

TASK

1. Using your variant individual data present the graphs of demand and supply. Then you have to express these line’s equations (the linear functions of demand and supply). Find the equilibrium characteristics. Show and calculate buyer’s and seller’s benefits of exchange.

2. Plot a cobweb model under presented conditions if initial price equal P₀. For this purpose you should fill the gaps in the following schedule:

Period (day)	Current price	Quantity demanded	Quantity supplied	shortage/ surplus	Next period (day) price
I
II
III
IV
V	…	…	…	…	…

Make a conclusion about market equilibrium.

3. Using an individual value of specific tax/dotation you should define the new equilibrium characteristics, plot the graph of this market situation. Also you need to calculate consumer burden/ benefit, producer burden/benefit, society burden/benefits and Tax Revenue/ Dotation expenditures of the government. Depict these values on your graph.

So at the end of your work you’ll have three pictures with calculations and explanations.

Variant №1

Р₀ = 30

t = 15

Р	Qd	Qs
5	300	75
10	250	100
15	200	125
20	150	150
25	100	175

Variant №2

Р₀ = 2,5

t = 0,5

Р	Qd	Qs
1,0	5	0,0
1,5	4	1,5
2,0	3	3,0
2,5	2	4,5
3,0	1	6,0

Variant №3

Р₀ = 3,5

d = 1

Р	Qd	Qs
2,0	4	-1,0
2,5	3	0,5
3,0	2	2,0
3,5	1	3,5
4,0	0	5,0

Variant №4

Р₀ = 5

d = 2

Р	Qd	Qs
2	7	1
3	6	3
4	5	5
5	4	7
6	3	9

Variant №5

Р₀ = 4

d = 1

Р	Qd	Qs
2	10	1
3	9	3
4	8	5
5	7	7
6	6	9

Variant №6

Р₀ = 1,75

d = 1

Р	Qd	Qs
0	40	-6
1	33	10
2	26	26
3	19	42
4	12	58

Variant №7

Р₀ = 1

t = 1

Р	Qd	Qs
1	7	5
2	6	6
3	5	7
4	4	8
5	3	9

Variant №8

Р₀ = 2,5

d = 0,5

Р	Qd	Qs
1	6	4
2	5	5
3	4	6
4	3	7
5	2	8

Variant №9

Р₀ = 6

d = 2

Р	Qd	Qs
4	22	2
6	18	8
8	14	14
10	10	20
12	6	26

Variant №10

Р₀ = 20

t = 4

Р	Qd	Qs
16	60	30
20	55	40
24	50	50
28	45	60
32	40	70

Variant №11

Р₀ = 6

t = 4

Р	Qd	Qs
6	170	110
8	150	120
10	130	130
12	110	140
14	90	150

Variant №12

Р₀ = 1,5

t = 1

Р	Qd	Qs
1,0	9,0	6
1,5	8,5	7
2,0	8,0	8
2,5	7,5	9
3,0	7,0	10

Variant №13

Р₀ = 1

t = 1

Р	Qd	Qs
1,0	12	8
1,5	11	9
2,0	10	10
2,5	9	11
3,0	8	12

Variant №14

Р₀ = 1,5

d = 0,5

Р	Qd	Qs
1,0	29	9
1,5	25	15
2,0	21	21
2,5	17	27
3,0	13	33

Variant №15

Р₀ = 3

d = 2

Р	Qd	Qs
2	13	3
3	11	6
4	9	9
5	7	12
6	5	15

Variant №16

Р₀ = 2

d = 2

Р	Qd	Qs
2	100	70
3	90	75
4	80	80
5	70	85
6	60	90

Variant №17

Р₀ = 1

d = 2

Р	Qd	Qs
2	120	90
3	110	95
4	100	100
5	90	105
6	80	110

Variant №18

Р₀ = 1,5

d = 0,5

Р	Qd	Qs
1,0	13	8,0
1,5	12	9,5
2,0	11	11,0
2,5	10	12,5
3,0	9	14,0

Variant №19

Р₀ = 4

t = 2

Р	Qd	Qs
6	17	11
8	15	12
10	13	13
12	11	14
14	9	15

Variant №20

Р₀ = 7

t = 1

Р	Qd	Qs
2	100	10
3	90	30
4	80	50
5	70	70
6	60	90

Variant №21

Р₀ = 25

t = 10

Р	Qd	Qs
5	300	75
10	250	100
15	200	125
20	150	150
25	100	175

Variant №22

Р₀ = 4,5

t = 1,5

Р	Qd	Qs
1,0	5	0,0
1,5	4	1,5
2,0	3	3,0
2,5	2	4,5
3,0	1	6,0

Variant №23

Р₀ = 2,5

d = 2

Р	Qd	Qs
2,0	4	-1,0
2,5	3	0,5
3,0	2	2,0
3,5	1	3,5
4,0	0	5,0

Variant №24

Р₀ = 6

d = 3

Р	Qd	Qs
2	7	1
3	6	3
4	5	5
5	4	7
6	3	9

Variant №25

Р₀ = 5

d = 2

Р	Qd	Qs
2	10	1
3	9	3
4	8	5
5	7	7
6	6	9