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DPB 10013 (MICROECONOMICS) TOPIC 3: MARKET EQUILIBRIUM JUN 2019 The table below shows the market demand and supply of a Good M. PRICE (RM) QUANTITY DEMANDED (UNITS) QUANTITY SUPPLIED (UNITS) 100 25 80 45 60 40 20 90 Draw the (market equilibrium curve based on table above. (6 marks) The demand function and supply function for Good M in the market are as follows: Qd = 3000 - 20P Qs = 1500 + 30P Calculate an equilibrium price and quantity by using mathematical approach (5 marks) JUN 2018 The function of market demand and supply of X product are given as follows: Qd = 30 - 3P Qs = 2P Calculate the market equilibrium price and quantity (4 marks) ii) Function of market demand is changed to Qd = 45 - 3P, Calculate the new market equilibrium price and quantity (5 marks) Sketch the market equilibrium curve before and after of changing (4 marks) DEC 2017 The market demand function and supply function for ice cream market in Malaysia are given below. In each case, Q is the quantity to ice cream units and P is the price (in RM) per unit of ice cream: Qd = 75 - 4P Qs = 15 + 2P Calculate the equilibrium price and quantity for this ice cream market (8 marks) Sketch the market equilibrium curve and label the market equilibrium with necessary point (4 marks)