TEC01113D Microeconomics Tutorial 5 1. Given that the demand and supply function for good A as follows: d = 200 5P Qs = 155 + 10P Find the equilibrium price and equilibrium quantity for good A. Given the demand and supply equation for Easy Cheese as below Q1 2 15 3P QS = 3 + 3P a) Find the equilibrium price and equilibrium quantity for Easy Cheese. b) Complete the following table using demand and supply equation. Show your working in the space below. Price (RM) Quantity demanded Quantity supplied (unitS) (units) c) Suppose that Reel Salami (a rival) raises its price in order to adjust with its new company policy, resulting in the change in quantity demanded of Easy Cheese by 6 units. By using illustration, show the changes that happen to the demand curve of Easy Cheese while keeping the supply unchanged. What would be the new equilibrium price and quantity? Given the demand and supply equation for Cola Cola as below Qd = 50 5P Q5 = 5 + 10P a) Find the equilibrium price and equilibrium quantity for Cola Cola. b) Complete the following table using demand and supply equation. Show your working in the space below. Price (RM) Quantity demanded Quantity supplied (units) (units) Ul-bUJNH c) Suppose that Schnitzel Chips (complement to the Cola) reduces its price following cheaper price of corn (Schnitzel Chips resources) which results in the change in quantity demanded of Cola by 15 units. By using illustration, show the changes that happen to the demand curve of Cola Cola while keeping the supply unchanged. What would be the new equilibrium price and quantity