Advanced Engineering Mathematics
10th Edition
ISBN: 9780470458365
Author: Erwin Kreyszig
Publisher: Wiley, John & Sons, Incorporated
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Question
If the supply function for a commodity is p=q^2
+8q +16 and the demand function is
p = -9q +6q + 426, find the equilibrium quantity and equilibrium price.
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- A restaurant is working to determine the supply and demand for their newest entrée. Based on preliminary research, they found that their demand function is 5q+28p=962 and the supply function is -q+7p=47 p q is the number of entrées ordered. Based on their preliminary research, what would be the market equilibrium price for the new entrée?arrow_forwardIf the supply and demand functions for a commodity are given by 6p-q = 60 and (p+2)q = 4830 , respectively, find the price that will result in market equilibrium. 41 150 33 31 25arrow_forwardConsider the web model with the supply and demand equations given by Find the intertemporal equilibrium price, and determine the equilibrium rate and its stability.arrow_forward
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