Section 2 Mathematics Of Economics

Question 1

What is the formula for the Y intercept for demand

Answer 1

P= a/b

Question 2

What is the formula for the X intercept of supply

Answer 2

Qs= c

Question 3

What is the Y intercept for supply

Answer 3

P= -c/d

Question 4

How do you calculate equilibrium price

Answer 4

P= (a-c) /(b+d)

Question 5

How do you calculate demand with tax

Answer 5

Qd= a-b (p+ T)

Question 6

What is the formula for supply with tax

Answer 6

Qs= c+d (p-t)

Question 7

What is the formula for price equilibrium with tax

Answer 7

P= a-c. Tb
—– - ——-
B + d B+d

Question 8

What is the formula for equilibrium quantity with tax

Answer 8

Qd = a-b (P + T)

Question 9

What is the formula for the price buyers pay now after the tax

Answer 9

Pb= P + T (d/b+d)

This is the tax incidence T (d/b+d) for buyer

Question 10

What is the formula for the price sellers will pay now with the tax

Answer 10

PS= P-T(b/b+d)

This is the tax incidence for the seller T(b/b+d)

Question 11

What is the formula for the X intercept

Answer 11

QD = a