Eco 550 Assignment

Imagine that you work for the maker of a leading brand of low-calorie microwavable food that estimates the following demand equation for its product using data from 26 supermarkets around the country for the month of April.

For a refresher on independent and dependent variables, please go to Sophia’s Website and review the Independent and Dependent Variables tutorial, located at–3.

Note: Your professor will provide you with the equation and data necessary for you to complete thisassignment. You will find this information attached to Assignment 1 within the course shell.


  4. Assume that all the factors affecting demand in this model remain the same, but that the price has changed. Further assume that the price changes are 100, 200, 300, 400, 500, 600 dollars.
    1. Plot the demand curve for the firm.
    2. Plot the corresponding supply curve on the same graph using the supply function Q = 5200 + 45P with the same prices.
    3. Determine the equilibrium price and quantity.

Your assignment must follow these formatting requirements:


The specific course learning outcomes associated with this assignment are:

  • Use technology and information resources to research issues in managerial economics and globalization.
  • Write clearly and concisely about managerial economics and globalization using proper writing mechanics.
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