Concept explainers
Supply-demand. The supply S and demand D for a certain commodity satisfy the equations
If p(0) = 30, find the equilibrium price at time t and the long-range equilibrium price.
Want to see the full answer?
Check out a sample textbook solutionChapter 9 Solutions
Calculus for Business, Economics, Life Sciences, and Social Sciences (14th Edition)
- Algebra & Trigonometry with Analytic GeometryAlgebraISBN:9781133382119Author:SwokowskiPublisher:CengageCalculus For The Life SciencesCalculusISBN:9780321964038Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.Publisher:Pearson Addison Wesley,Algebra and Trigonometry (MindTap Course List)AlgebraISBN:9781305071742Author:James Stewart, Lothar Redlin, Saleem WatsonPublisher:Cengage Learning