Social Studies, 29.11.2021 17:00, alexiscorey7051
3. The mobile assembling industry in Ethiopia has the following market information for its techno mobile products. .Thaf is, there are 100, 000 identical buyers of techno mobile in a market with an individual demand function of 9d -- 110 — 20P, and 1, 000 identical sellers of a techno mobile with an individual supply function of 0-s 200P, where Q is quantity and P is price. Use the information given to answer the questions that follows (2 marks rsc/Ă). A. Determine the’market demand and supply function for the product in question. B. Calculate equilibrĂum price and quantity of techno mobile and interpret the result. C. Depict your answer on a graph sheet. Do not forget to labeJ all the points on the graph. D. Find the price elasticity of demand at the equilibrium point and interpret your result. E. Do you recommend a particular firm in this industry firni to increase price for its objective of increasing revenue? Why/why not? F. What is the effect of increase in of techno mòbile by Birr 15 on the equilibrium condition?
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3. The mobile assembling industry in Ethiopia has the following market information for its techno mo...
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