Q thousand units of the commodity will be demanded at a price of p = D(q) dollars pre unit, while q
Question:
Q thousand units of the commodity will be demanded at a price of p = D(q) dollars pre unit, while q thousand units will be supplied by producers when the price is p = S(q).
\[D(q)=65-{{q}^{2}}\] \[S(q)=\frac{1}{3}{{q}^{2}}+2q+5\]a) Find the equilibrium price pe (where supply equals demand)
b) Find the consumer’s surplus and the producer’s surplus at equilibrium
Price: $2.99
See Solution: The downloadable solution consists of 2 pages
Type of Deliverable: Word Document
Type of Deliverable: Word Document
-
[Solution] It is estimated that the demand for oil is increasing exponentially at the rate of 15% per year. If #4307
-
[Solved] Consider a multi-plant monopoly that operates two plants (#1 and #2) but sells its total output Q (= #9430
-
(See Solution) Give an account of the advantages and disadvantages in using in using a figure such as GDP or GNP as #2413
-
[Solved] (Break-even point) You are a hard-working analyst in the office of financial operations for a manufa #20236
-
Free Math Help
-
Math and Statistics Answers
