Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Oct 10, 2024

For the pair of supply-and-demand equations, where x represents the quantity demanded in units of 1000 and p is the unit price in dollars, find

For the pair of supply-and-demand equations, wherexrepresents the quantity demanded in units of 1000 andpis the unit price in dollars, find the equilibrium quantity and the equilibrium price.p=0.3x+9andp=0.15x+4.5

equilibrium quantity____units

equilibrium price_____$

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

College Algebra Graphs and Models

Authors: Marvin L. Bittinger, Judith A. Beecher, David J. Ellenbogen, Judith A. Penna

5th edition

321845404, 978-0321791009, 321791002, 978-0321783950, 321783956, 978-0321845405

More Books

Students also viewed these Mathematics questions

Question

★★★★★

Using the central limit theorem, what is the distribution of sample means when the population distribution is: (a) Rectangular? (b) Normal? (c) Positively skewed? (d) Nonmodal? (e) Multimodal? (f)...

Answered: 1 week ago

Question

★★★★★

Can you identify six social value deliverables? 1

Answered: 1 week ago

Question

★★★★★

Coldplay Corporation incurred the following costs while manufacturing its product. Work-in-process inventory was $12,000 at January 1 and $15,500 at December 31. Finished goods inventory was $60,000...

Answered: 1 week ago

Question

★★★★★

A research hospital tries a new antibiotic scrub before surgery to see whether it can lower the rate of infections of surgical sites. The old rate of infection is 4%. The null hypothesis is that the...

Answered: 1 week ago

Question

★★★★★

The current stock price for Admiral Motors Company is 49. Its expected ROE is 14% and its expected EPS is $7. The firm's plowback ratio is 50%. What will be its PEG ratio? a. 1 b. 2 c. 3 d. 4

Answered: 1 week ago

Question

★★★★★

Windsor issued an 7%, 10-year $2,100,000 bond to build a monorail mass transit system. The city received $1,830,458 cash from the bond issuance on January 1, 2025. The bond yield is 9%. Interest is...

Answered: 1 week ago

Question

★★★★★

TO: Bill Bugnay MEMO#113FROM: M. Lasker December 1, 20XXPlease issue a cheque to Barrio Fiesta for a deposit for our Christmas Party for $4000. Record this as a Deposit. (CHQ 2113 2 answers

Answered: 1 week ago

Question

★★★★★

Given the damage to a nuclear power plant caused by an earthquake and tsunami and the real and potential danger of a radiation leak, recommend to the CEO of a utility company, Bruce Nuclear...

Answered: 1 week ago

Question

★★★★★

You are the senior marine engineer working for a ship and staff management company which manages the recruitment and staff development of ships officers. Your current customer operates a fleet of 10...

Answered: 1 week ago

Question

★★★★★

For this week's discussion, use the Internet or Company Dossier through Nexis Uni to research one publicly traded company in which you are interested. Review its most recent statement of cash flows....

Answered: 1 week ago

Previous Question Next Question