Question: please answer m,n and o with the given nimbers in the first pic. 2 3 QD = 200-38.15PO +8.35PS - 2Pc+10Inc + .8TS +.5M21 4

please answer m,n and o with the given nimbers in the first pic.

pic. 2 3 QD = 200-38.15PO +8.35PS - 2Pc+10Inc + .8TS +.5M21

2 3 QD = 200-38.15PO +8.35PS - 2Pc+10Inc + .8TS +.5M21 4 QS = -100+22.95PO-5PPI-10PS + 8Temp + 1Sup 5 6 Demand: 7 8 -Price of Substitutes: $18 9 10 -Price of Cheese: $15 11 12 -Income: $53,000 13 14 -Trade Shows/Competitions: $3 15 16 -Millennials = 42 million 17 18 19 Supply: -PPI: 110 -Price of Substitutes: $18 -Temperature: 60 -Number of Suppliers: 8,000 Price 5 m) Will this create a shortage? 7 263.3-25.2= 238.1 million 3 9 On) With the increase in production costs to 123.222, at what price will the market be in equilibrium again? Qs=-100+22.95 (20)-5 (123.222) - 10 (18) +8 (60) + 1 (8) 2 Qs=-100+22.95 (20)-5 (123.222)- 10 (18) + 8 (60) + 1 (8) Qs = 250.89 34.4-162.9 -128.5 million o) What will be the quantity demanded and supplied at this price? + 2 3 QD = 200-38.15PO +8.35PS - 2Pc+10Inc + .8TS +.5M21 4 QS = -100+22.95PO-5PPI-10PS + 8Temp + 1Sup 5 6 Demand: 7 8 -Price of Substitutes: $18 9 10 -Price of Cheese: $15 11 12 -Income: $53,000 13 14 -Trade Shows/Competitions: $3 15 16 -Millennials = 42 million 17 18 19 Supply: -PPI: 110 -Price of Substitutes: $18 -Temperature: 60 -Number of Suppliers: 8,000 Price 5 m) Will this create a shortage? 7 263.3-25.2= 238.1 million 3 9 On) With the increase in production costs to 123.222, at what price will the market be in equilibrium again? Qs=-100+22.95 (20)-5 (123.222) - 10 (18) +8 (60) + 1 (8) 2 Qs=-100+22.95 (20)-5 (123.222)- 10 (18) + 8 (60) + 1 (8) Qs = 250.89 34.4-162.9 -128.5 million o) What will be the quantity demanded and supplied at this price? +

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