If the supply and demand functions for a certain product are given by the equations 2p -

Question:

If the supply and demand functions for a certain product are given by the equations 2p - q + 6 = 0 and (p + q) (q + 10) = 3696, respectively, find the price and quantity that give market equilibrium?

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

Step by Step Answer:

Related Book For book-img-for-question

Mathematical Applications for the Management Life and Social Sciences

ISBN: 978-1305108042

11th edition

Authors: Ronald J. Harshbarger, James J. Reynolds

See More Books

Question Posted: Feb 09, 2018 04:45 AM

See More Questions

Suppose the supply and demand functions for a product are respectively, where p is in dollars and q is the number of units. Find the tax t that maximizes the tax revenue T, and find the maximum tax...
The supply and demand functions of a good are given by where P, Q S and Q D denote the price, quantity supplied and quantity demanded, respectively. (a) Draw sketch graphs of these functions on the...
Given the supply and demand functions determine the equilibrium price and quantity. P = Q + 20s + 7 P = -Q, + 25
What important retailing decisions to the target market and retailing marketing mix should be considered when investing in: Dunkin Donuts Little Caesars Pizza Starbucks
An average active person consumes above 2500 Cal a day. (a) What is this in joules? (b) What is this is kilowatt-hours? (c) Your power company charges about a dime per kilowatt-hour. How much would...
Estimate the net force between the CO group and the HN group shown in Fig. 16-62 The C and O have charges ± 0.40e, and the H and N have charges ± 0.20e, where e = 1.6 X 10-10C. H EN -N-...
Water flows through a constant diameter pipe with a uniform velocity given by \(\mathbf{V}=(8 / t+5) \hat{\mathbf{j}} \mathrm{m} / \mathrm{s}\), where \(t\) is in seconds. Determine the acceleration...
A manufactured product has the following information for June. Compute the (1) Standard cost per unit (2) Total cost variance for June. Indicate whether the cost variance is favorable or unfavorable....
LeMans Company produces specialty papers at its Fox Run plant. At the beginning of June, the following information was supplied by its accountant Direct materials Inventory Work-in-process inventory...
Conjugate the verb "ride" through all its tenses, both active and passive voices. Present Tense Past Tense Future Tense ACTIVE VOICE Present Perfect Tense Past Perfect Tense Future Perfect Tense
If a company has total costs C(x) = 15,000 + 35x + 0.1x2 and total revenues given by R(x) = 385x - 0.9x2, find the break-even points?
The supply function for a product is 2p - q - 10 = 0, while the demand function for the same product is (p + 10)(q + 30) = 7200. Find the market equilibrium point?
Find [a]-1 in Z1009 for (a) a = 17, (b) a = 100, and (c) a = 111
Consider a Cournot oligopoly facing linear demand P(X)=1X and constant marginal costs c>0 (and/or increasing marginal cost C(X)=cX). The social damage function is quadratic of the form D(E)=dE 2 /2....
Assume electricity is generated by three technologies: a base load technology with cost function C b (x b ) and proportional emission coefficient b ; gas turbines with cost function C g (x g ) and...
Consider the energy sector consisting of J firms where energy producers are characterized by their cost functions C j (x j ,e j ). The firms are subject to an emission trading system with a total...
Consider two polluting firms with marginal production costs c 1 =0 and c 2 =0.25. Pollution is proportional to output with emission coefficients d 1 =1 and d 2 =0. Inverse market demand is P(X)=1X....
Modify the model in this chapter by considering a closed economy with endogenous wage formation. The production sector is now characterized by a decreasing returns to scale production function F(L,E)...
Lancey Supply, Inc., opened an office in Ypsilanti, Michigan. Lancey incurred the following costs in acquiring land, making land improvements, and constructing and furnishing the new sales building:...
What does non-recourse financing mean?
In Problems, five balls are drawn with replacement from a bag containing 6 red balls and 4 black balls. Find the probability that (a) 2 of the balls will be red. (b) All 5 balls will be black. (c) At...
For the binomial experiments in Problem, find the normal approximation of the probability of between 75 and 80 successes (inclusive) in 150 trials if p = 0.6.
The random variable x has a normal distribution with mean 22 and standard deviation 8. Find B so that Pr(x > B) = 0.02.
What theorists are most likely to argue the city's form and growth come from decisions made by people and organizations that control wealth and other key resources?
Explain the difference between glucogenic and ketogenic amino acids
Describe what is an arrangement where workers who don't join a union must make payments equal to union dues and fees to get union representation services?

If the supply and demand functions for a certain product are given by the equations 2p -

Question:

Step by Step Answer:

S 2p q 6 0 or q 2p 6 D p qq 10 3696 Substitute ...View the full answer

Mathematical Applications for the Management Life and Social Sciences

Students also viewed these Calculus questions