If actual price in this market were above the equilibrium price, what would derive the market towards the equilibrium

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If actual price in this market were above the equilibrium price, what would derive the market towards the equilibrium

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A consumer has #300 to spend on goods X and Y. The market prices of these two goods are Px = #15 and Py = #5. a. What is the market rate of substitution between goods X and Y? b. Illustrate the consumers opportunity set in a carefully labelled diagram. c. Show how the consumers opportunity set changes if income increases by #300. How does the #300 increase in income alter the market rate of substitution between goods X and Y?
A firm produces and sells a product in two separate markets, A and B. The demand functions for the two markets are given by the following relationships. QA = a − bPA and QB = c − dPB The total cost of production is given by the following function. C(QA ,QB ) =  + (QA + QB ) Note that a,b,c, d, and  are positive constants. (a) Find profit maximizing output levels and prices and maximum profit in terms of the constants.
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Suppose the demand curve is linear and is given by the equation P = a – bQ where P is price and Q is quantity. What is the consumer surplus if the equilibrium price is P* and equilibrium quantity is Q*?
Given the following Cobb Douglas utility function U(X1,X2)=Xc1,Xd2 determining marginal utilities for good X1 and X2 respectively what is the marginal rate of substitution MRSx 1 x 2 and the marginal rate of substitution MRs x 2 x 1 C(y)=10y2+100 what is the supply curve
Assume that the market demand and the costs of the duopolists are: P=120-0.4(QA + QB) TCA=5QA TCB= 0.2Q2B Also assume that firm B is the sophisticated leader, Determine: 1. The reaction curve of A 2. The reaction curve of B 3. The profit function of A 4. Stackelberg equilibrium output level for firm A 5. Stackelberg equilibrium output level for firm B 6. The market price.
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