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a ) the market demand function is QD = 4,750-50P is expressed in dollars , use Excel to calculate values QD and QS for P from 25 to 50 in 1 ’ s .
b ) If the market demand increased to Q ’ D = 5,350-50P , what is the equilibrium price ?
c ) If the market demand decreased to Q ’’ D = 4,150-50P , what is the equilibrium price ?
d ) For ( a ) - ( c ), if TC = 0.005Q2-Q , what is the profit in each case ?
Froeb et al .’ s Chapter 9 : a ) Individual problems : 9-3 and 9-4 . Individual Problem 9-2
Because beer and marijuana are seen as substitutes , beer sellers would have opposed the legalization of marijuana . But since snack foods are a complement to marijuana , snack food sellers would have been in favor of legalization of marijuana .
‘ Individual problem 9-3 : Snack food vendors and beer distributors earn some monopoly profits in their local markets but see them slowly erode from various new substitutes . When CA voted on legalizing marijuana , which side do you think that California beer distributors were on ? What about the snack food vendors ? Why ?

a ) the market demand function is QD = 4,750-50P is expressed in dollars , use Excel to calculate values QD and QS for P from 25 to 50 in 1 ’ s .

b ) If the market demand increased to Q ’ D = 5,350-50P , what is the equilibrium price ?

c ) If the market demand decreased to Q ’’ D = 4,150-50P , what is the equilibrium price ?

d ) For ( a ) - ( c ), if TC = 0.005Q2-Q , what is the profit in each case ?

Froeb et al .’ s Chapter 9 : a ) Individual problems : 9-3 and 9-4 . Individual Problem 9-2

Because beer and marijuana are seen as substitutes , beer sellers would have opposed the legalization of marijuana . But since snack foods are a complement to marijuana , snack food sellers would have been in favor of legalization of marijuana .

‘ Individual problem 9-3 : Snack food vendors and beer distributors earn some monopoly profits in their local markets but see them slowly erode from various new substitutes . When CA voted on legalizing marijuana , which side do you think that California beer distributors were on ? What about the snack food vendors ? Why ?