Question: If the supply and demand functions for a commodity are given by 4p - q = 42 and (p + 2)q = 2100, respectively, find

If the supply and demand functions for a commodity are given by 4p - q = 42 and (p + 2)q = 2100, respectively, find the price that will result in market equilibrium?

Step by Step Solution

★★★★★

3.51 Rating (161 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

S 4p q 4 2 or q 4p 42 D p 2q 2100 or ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

1386-M-C-L-A-D(2569).docx

120 KBs Word File

Students Have Also Explored These Related Calculus 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...

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?

Solve for price and quantity. If the supply and demand functions for a commodity are given by 4p - q = 42 and (p + 2)q = 2,100, respectively, find the price and quantity that will result in market...

1. [-/2 Points] DETAILS HARMATHAP12 2.2.031. MY NOTES ASK YOUR TEACHER The monthly profit from the sale of a product is given by P = 16x - 0.1x2 - 100 dollars. (a) What level of production maximizes...

MATH 234 Mock Final Exam x+2 . 2 x 8x 5 1. Find the value of lim (a) 1/8 (b) -2/5 (c) 0 (d) + 2. Find the value of lim x2 2x+5 |x+2| . (a) 2 (b) + (c) -2 (d) 3. Find f 0 (x) if f (x) = (a) f 0 (x) =...

Please answer all (4) questions in one post. Thank you. Suppose the supply and demand for a certain textbook are given by supply:p=fa, demand: p= 0 + 30, where is the price and q is the quantity....

FOR THE COURSE MANAGERIAL ECONOMCIS In the Abaya Lake fish market, the inverse market demand and supply functions are given as P f = 25-0.05 D f and P f = 0.04 S f +16; Where P f = price of fish in...

Question 1 (a) The demand and supply equations for a product are given as P = 80 0.5Q and P = 20 + 0.50, respectively, where P is the price in dollars and Q is the quantity. Solve for the market...

Chrome File Edit View History Bookmarks Profiles Tab Window Help 1CG 46% Sat 10:01 PM Q . .. Online Quiz III (3.1 - 3.4 from Finite Math)...

Treatment of alkenes A and B with HBr gives the same alkyl halide C. Draw a mechanism for each reaction, including all reasonable resonance structures for any intermediate. -CH=CHCH A HBr Br -CHCHCH3...

Mike Aliscad is widely known as an exceptional winemaker. He has developed a production process that has several distinct processes including speed crushing, which involves the breaking down of the...

There is a firm with a key person risk - but they have cinveyed to us that the key person will stick around for a long time and his right hand man Jeff is getting prepared as well as next generation....

What do you think happens if some traders have experience of bubble and crash but some do not?

If a fair die is rolled 3 times, what is the probability that (a) A 5 will result 2 times out of the 3 rolls? (b) An odd number will result 2 times? (c) A number divisible by 3 will occur 3 times?...

Find the probability that a z-score from the standard normal distribution will lie within each of the intervals in Problem. -1.9 z -1.1

For the binomial experiments in Problem, find the normal approximation of the probability of 96 successes in 180 trials if p = 0.4.

Simone spent an average of $500 each month on groceries last year for herself and her family. She is now forecasting the family budget for next year. She read that an inflation rate of 5% is...

An auto parts company is deciding whether to sponsor a racing team for a cost of $1 million. The sponsorship would last for three years and is expected to increase cash flows by $570,000 per year. If...

is there any website that can help me find directly the solution for X2 L and X2r please poste it and tell me how to use it otherwise I need a really detailed solution Use the given information to...