ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Suppose products A and B have demand and supply equations that are related to each other. If QA and QB are the quantities produced and sold of A and B, respectively, and PA and B are their respective prices, the table below shows the demand equations and the supply equations. Eliminate QA and qB to get the equilibrium prices. demand equations 9A =7-PA +1 + PB 9B = 26+ PA - PB supply equations - 5+ 6PA - 3PB 9A = - == QB-7-3pд+6PB The prices are PA = $| and PB = $ (Round to the nearest cent as needed.)
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Transcribed Image Text:Suppose products A and B have demand and supply equations that are related to each other. If QA and QB are the quantities produced and sold of A and B, respectively, and PA and B are their respective prices, the table below shows the demand equations and the supply equations. Eliminate QA and qB to get the equilibrium prices. demand equations 9A =7-PA +1 + PB 9B = 26+ PA - PB supply equations - 5+ 6PA - 3PB 9A = - == QB-7-3pд+6PB The prices are PA = $| and PB = $ (Round to the nearest cent as needed.)
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