Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 13, 2024

A supply equation and a demand equation for a product are given below. If p represents price per unit in dollars and q represents the

A supply equation and a demand equation for a product are given below. If p represents price per unit in dollars and q represents the number of units per unit oftime, find the equilibrium point.

Supply:

35q2p+210=0

Demand:

70q+p367.5=0

The equilibrium point(q,p) is =

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Global Business Today

Authors: Charles W. L. Hill Dr, G. Tomas M. Hult

10th edition

1259686698, 978-1259686696

More Books

Students also viewed these Economics questions

Question

★★★★★

Describe a number of ideas for building motivation of trainees before and during a program. What suggestions would you offer for ensuring that trainees are motivated to transfer their skills after...

Answered: 1 week ago

Question

★★★★★

Perform the indicated multiplications. (y + 8)(y 8)

Answered: 1 week ago

Question

★★★★★

Use the plot of the standardized Pearson residuals versus the observation index given in Figure 10.13 to answer the following questions. (a) Does this residual plot suggest there are observations for...

Answered: 1 week ago

Question

★★★★★

Condensed financial data of Minnie Hooper Company are shown below. Additional information:1. New plant assets costing $146,000 were purchased for cash during the year.2. Investments were sold at...

Answered: 1 week ago

Question

★★★★★

q , refers to the rules associated with both word and sentence structure. Syntax Displacement Conjugation Grammar

Answered: 1 week ago

Question

★★★★★

examples of companies that illustrate each of the four focus strategies

Answered: 1 week ago

Question

★★★★★

The photograph below shows the interference of two water waves produced by two coherent sources operating at the same frequency and in phase. The waves travel outward at a constant speed from the two...

Answered: 1 week ago

Question

★★★★★

The majority of information needed to answer these can be found through our website. However, in cases where it isn't, please use your imagination and creativity to come up with a personally tailored...

Answered: 1 week ago

Question

★★★★★

Mary Kate is an intern with a minor league baseball team. She says, I report to two managers: the director of marketing and the director of community relations. From time to time, the director of...

Answered: 1 week ago

Question

★★★★★

How can healthcare practitioners actively incorporate the principle of treating individuals like human beings into their daily interactions with patients from diverse backgrounds? Share examples of...

Answered: 1 week ago

Question

★★★★★

Megan is a single taxpayer. Her salary is $45,000. Megan realized a short-term capital loss of $6,500. Her itemized deductions total $1,500. (The tax year is 2023.) View the standard deduction...

Answered: 1 week ago

Question

★★★★★

1. Describe Adam Smith's three basic functions of government. Is his list complete? Or are there more functions for government? Briefly describe and explain. 2. Explain why economists use models to...

Answered: 1 week ago

Question

★★★★★

1. What will happen in the future

Answered: 1 week ago

Question

★★★★★

3. Avoid making mistakes when reaching our goals

Answered: 1 week ago

Question

★★★★★

4. Achieve our positive goals (1 and 3 are motivated by avoiding the negative, while 2 and 4 are motivated by the positive). b. Initiative: When I communicate with others, I think it is very...

Answered: 1 week ago

Previous Question Next Question