Given the quadratic supply and demand functions determine the equilibrium price and quantity. P = Q +

Question:

Given the quadratic supply and demand functions P = Q + 2Qs + 12 P = -Q% – 4Qp + 68 | determine the equilibrium price and quantity.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Mathematics for Economics and Business

ISBN: 978-1292191669

9th edition

Authors: Ian Jacques

See More Books

Question Posted: Apr 18, 2019 08:48 AM

See More Questions

Given the supply and demand functions determine the equilibrium price and quantity. P = Q + 20s + 7 P = -Q, + 25
Given that fixed costs are 500 and that variable costs are 10 per unit, express TC and AC as functions of Q. Hence sketch their graphs.
The demand function for a firms product is given by P = 60 Q. Fixed costs are 100, and the variable costs per good are Q + 6. (a) Write down an expression for total revenue, TR, in terms of Q and...
How did your parents communication with you influence your self-concept?
Olson Corp. reported the following in the Current Assets section of its December 31, 2016 balance sheet: During 2016, Olson recorded $80,000 of sales on credit and wrote off $4,000 of uncollectible...
The items listed in the following table are stored in a warehouse. Using the following figure, indicate the best storage location for each item to minimize average distance traveled. Item A B D E F...
What lessons should Henry, Fiona and Barry learn from their discussions?
Krause Company on January 1, 2012, enters into a five-year noncancelable lease, with four renewal options of one year each, for equipment having an estimated useful life of 10 years and a fair value...
Star Company projected unit credit sales for the last four months of the year as shown below: September 4,600 October 4,800 November 5,700 December 7,200 The company's past records show collection of...
John Smith, president of Furman Enterprises, remembers from his first accounting course that to calculate the unit cost you divide the total cost by the number of units produced. In reviewing a...
Use a sign diagram to solve the following inequalities: x + 4 (b) (x 1)(x + 1) = 0 (a) x(x 3) > 0 (c) c)
A clothing supplier sells T-shirts to retailers for $7 each. If a store agrees to buy more than 30, the supplier is willing to reduce the unit price by 3 cents for each shirt bought above 30, with a...
A projectile is fired at an angle of 30 from the horizontal with some initial speed. Firing the projectile at what other angle results in the same horizontal range if the initial speed is the same in...
Question 2 of 6 When can XWFs approve expenses on behalf of Google? If a Director has approved it. If your employer has approved it. XWFs cannot approve expenses on behalf of Google. If it's under...
Does the following table represent a valid discrete probability distribution? x 1 2 3 4 5 P ( X = x ) 0.11 0.06 0.25 0.41 0.51
Semester Two Practice Examinations, 2022 Question 1. [10 marks] Suppose X and Y have the joint probability mass function x 0 1 2 0 CO 0.175 0.105 1 0.18 0.075 C1 where CO and C are real numbers such...
Problem 7 (40 pts) Ethylene glycol (p=1096 Kg/m, C=2505 J/KgK, v=6.9x10-6 m/s, Pr=73.5) is pumped through a pipeline of diameter D=0.4 m that runs across a lake L=200 m wide. The bulk velocity and...
The number of fully formed apples on 100 plants was counted with the following results: 2 plants had 0 apples 5 plants had 1 apple 7 plants had 2 apples 11 plants had 3 apples 18 plants had 4 apples...
Describe the altitude of a triangle.
Wal-Mart is the second largest retailer in the world. The data file on the disk holds monthly data on Wal-Marts revenue, along with several possibly related economic variables. a) Using computer...
Find x1 and x2 in Problem 2 2 2 2
In Problem, write each system as a matrix equation and solve using inverses. 2x1, + x2 = k1 x1 + x2 = k2 (A) k1 = 1, k2 = -2 (B) k1 = 2, k2 = 3 (C) k1 = 2, k2 = 0
In Problem, write each system as a matrix equation and solve using inverses. 2x, + 3x2 = k1 x1 + 2x2 + 3x3 = k2 -x2 - 5x3 = k3 (A) k1, = 0,k2 = 2, k3 = 1 (B) k1 = -2, k2 = 0, k3=1 (C) k1 = 3,k2 = l,...
Q1) The equity of Washington Ltd at 1 July 2020 consisted of: Share capital 500 000 A ordinary shares fully paid $1 500 000 400 000 B ordinary shares issued for $2 and paid to $1.50 600 000 General...
out The following information relates to Questions 1 to 2. The management accountant of a furniture manufacturer is developing a standard for the labour cost of one massage chair. When operating at...
Exercise 10-8 Utilization of a constrained Resource [LO10-5, L010-6] Barlow Company manufactures three products: A, B, and C. The selling price, variable costs, and contribution margin for one unit...

Given the quadratic supply and demand functions determine the equilibrium price and quantity. P = Q +

Question:

P = Q + 2Qs + 12 P = -Q% – 4Qp + 68 |

Step by Step Answer:

In equilibrium Qs QDQ so the supply and demand equations become PQ ...View the full answer

Mathematics for Economics and Business

Students also viewed these Mathematics questions