Identify an industry (not a firm – that will come later) in which you are interested – e.g. the fruit industry in the primary sector, the autonomous or flying car industry in the manufacturing sector or the dining-out industry in the services sectorFor this industry:1.1 Specify a demand function of the form QD = a – bP1.2 Specify a supply function of the form QS = c + dP1.3 Derive the equilibrium values of QD and QS1.4 …

| December 7, 2018

Identify an industry (not a firm – that will come later) in which you are interested – e.g. the fruit industry in the primary sector, the autonomous or flying car industry in the manufacturing sector or the dining-out industry in the services sectorFor this industry:1.1 Specify a demand function of the form QD = a – bP1.2 Specify a supply function of the form QS = c + dP1.3 Derive the equilibrium values of QD and QS1.4 …

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