Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 21, 2024

If a market has the demand function Q=40-2p and a supply function Q=10+p , what is the equilibrium price?

If a market has the demand functionQ=40-2pand a supply functionQ=10+p, what is the equilibrium price?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access with AI-Powered 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

Entrepreneurship

Authors: Andrew Zacharakis, William D Bygrave

5th Edition

1119563097, 9781119563099

Students also viewed these Economics questions

Question

★★★★★

Convert the following sinusoidal oscillations to the standard form and sketch a graph. f(t) = 2.0 - 1.0cos(t).

Answered: 1 week ago

Question

★★★★★

Are basic assumptions for parametric, inferential statistics met (i.e., normal distribution, level of measurement, and randomization)?

Answered: 1 week ago

Question

★★★★★

Richmond Corporation had the following transactions relating to product AB during September. Determine the ending inventory value under each of the following costing methods: 1. FIFO (perpetual) 2....

Answered: 1 week ago

Question

★★★★★

Rearulied: whole numbel and percenige enswers to 2 decimal places.)

Answered: 1 week ago

Question

★★★★★

Reconsider the example of choosing the advertising budget at VRX that is presented in Section 1.4. In addition to the VRX2000, VRX also has a higher-end virtual-reality headset, the VRX3000. This...

Answered: 1 week ago

Question

★★★★★

A local dental practice decides to run a Groupon campaign. The campaign offered $375 worth of dental services (such as teeth whitening) for $150. For the total campaign, 265 coupons were sold. We...

Answered: 1 week ago

Question

★★★★★

The system shown in Fig. 2.2 consists of a rope of initial length L under tension T and subjected to a transverse force f(x) (Figure 2.2). T w(x) T L f(x) Figure 2.2 Assuming that the deflection w(x)...

Answered: 1 week ago

Question

★★★★★

Create a process flowchart for any process that you complete either at work or in your personal life explaining your flowchart and your thinking. Any issues you found? Areas for change? Also, include...

Answered: 1 week ago

Question

★★★★★

Assignment question Sam owns a gift shop which sells a range of gifts, cards and jewellery. Sam prides himself on only sourcing and selling handmade items from independent crafts people. He decides...

Answered: 1 week ago

Question

★★★★★

A company pays an annual insurance premium. On 1 September 20X7 it paid $6,000 for the 12 months ended 31 August 20X8. On 1 September 20X8 it paid $7,200 for the 12 months ended 31 August 20X9. 1)...

Answered: 1 week ago

Question

★★★★★

Make an argument as to why Arnold Schwarzenegger's character in the movie would have a good argument for Fraudulent Misrepresentation. TITLE OF VIDEO: Mexican Turbo Man - Jingle All the Way (FIRST...

Answered: 1 week ago

Question

★★★★★

Which of the following is NOT a benefit of implementing quality practices in an organization? Question 2Answer a. Higher production costs b. Increased customer satisfaction c. Improved product...

Answered: 1 week ago

Previous Question Next Question