The demand function for a good is Q = a - bp, and the supply function is
Question:
The demand function for a good is Q = a - bp, and the supply function is Q = c + ep, where a, b, c, and e are positive constants. Solve for the equilibrium price and quantity in terms of these four constants.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (6 reviews)
In equilibrium the quantity demanded Q a bp equals the quantity ...View the full answer
Answered By
Aysha Ali
my name is ayesha ali. i have done my matriculation in science topics with a+ . then i got admission in the field of computer science and technology in punjab college, lahore. i have passed my final examination of college with a+ also. after that, i got admission in the biggest university of pakistan which is university of the punjab. i am studying business and information technology in my university. i always stand first in my class. i am very brilliant client. my experts always appreciate my work. my projects are very popular in my university because i always complete my work with extreme devotion. i have a great knowledge about all major science topics. science topics always remain my favorite topics. i am also a home expert. i teach many clients at my home ranging from pre-school level to university level. my clients always show excellent result. i am expert in writing essays, reports, speeches, researches and all type of projects. i also have a vast knowledge about business, marketing, cost accounting and finance. i am also expert in making presentations on powerpoint and microsoft word. if you need any sort of help in any topic, please dont hesitate to consult with me. i will provide you the best work at a very reasonable price. i am quality oriented and i have 5 year experience in the following field.
matriculation in science topics; inter in computer science; bachelors in business and information technology
_embed src=http://www.clocklink.com/clocks/0018-orange.swf?timezone=usa_albany& width=200 height=200 wmode=transparent type=application/x-shockwave-flash_
4.40+
11+ Reviews
14+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
The demand function for a good is Q = 100 2p. What is the elasticity at the point p = 10 and Q = 80?
-
The demand function for a firm with market power is estimated to be Q = 127,000 - 600P + 4M +11,000PR, where Q is output, P is price per unit, M is income, and PR the price of a related good. The...
-
Suppose the demand function for a firms product is given by ln Q d x = 7 1.5 ln P x + 2 ln P y - 0.5 ln M + ln A Where P x = $ 15, P y = $ 6, M = $ 40,000, and A = $ 350. a. Determine the own price...
-
In the first case, the relationship between F and H is found to be inverse when the height decrease the area will increase, and the force will increase too. Therefore, I need a logical and practical...
-
A person slowly lowers a 3.6-kg crab trap over the side of a dock, as shown in FIGURE 11-38. What torque does the trap exert about the person's shoulder? 0.70 m
-
Derive an expression for the temperature distribution in a hollow cylinder with heat sources that vary according to the linear relation = a + br with i the generation rate per unit volume at r = ri....
-
Provide an example for use case generalization. What is its significance?
-
The following information was taken from the records of Vega SA for the year 2019: income tax applicable to income from continuing operations R$119,000, income tax applicable to loss on discontinued...
-
List the characteristics (seven) of insurance contracts and explain each characteristic of insurance contract. 4. List and briefly explain the types of insurers as classified by place of...
-
AV City (Problem 13-1) assumed with certainty that the ordering cost is $625/order and the inventory carrying cost is $130/unit/year. However, the inventory model parameters are frequently only...
-
Given the inverse demand function for pork (Question 1.1) is p = 14.30 - 0.05Q, how much would the price have to rise for consumers to want to buy 2 million fewer kg of pork per year? Question 1.1...
-
Some cities impose rent control laws, which are price controls or limits on the price of rental accommodations (apartments, houses, and mobile homes). New York City alone had over two million...
-
Suppose F is an antiderivative of f and A is an area function of f. What is the relationship between F and A?
-
This assignment is due by Sunday, 11:59 PM EST. Supplemental Material: How to Create a Risk Heatmap in Excel - Part 2 Links to an external site. Overview and Rationale Using the risk log and...
-
What is the purpose of taking regular soap samples at engine oil changes? a. Indicates trends for the presence of metals in the engine oil. b. Indicates the presence of metal chips in the engine oil....
-
You work in a materials testing lab and your boss tells you to increase the temperature of a sample by 33.0 C . The only thermometer you can find at your workbench reads in degrees Fahrenheit. Part A...
-
In a snowball fight, you need to hit two targets that are crawling on the ground with a height of 0 . 5 meters that are 2 . 5 meters and 4 meters directly in front of you. If you always throw your...
-
A satellite that stays over the same spot on a planet as the planet rotates is called a geostationary satellite. (Geostationary satellites must be positioned somewhere over the equator of the...
-
Magnetic resonance imaging needs a magnetic field strength of 1.5 T. The solenoid is 1.8 m long and 75 cm in diameter. It is tightly wound with a single layer of 2.0-mm-diameter superconducting wire....
-
Find the center of mass of a thin triangular plate bounded by the y-axis and the lines y = x and y = 2 - x if (x, y) = 6x + 3y + 3.
-
Nataraj (2007) found that a 100% increase in the price of water for heavy users in Santa Cruz, California, caused the quantity of water they demanded to fall by an average of 20% (Mini- Case Turning...
-
At the Portland Fish Exchange, each day some amount of cod is brought to market. Supply is perfectly inelastic at that amount. How much cod is caught and brought to market varies day to day. Assuming...
-
Suppose that a restaurant uses a focus group of regular customers to determine how many customers would buy a proposed new menu item at various prices. Can this information be used to estimate an...
-
In Unix and Linux systems, the configuration of the operating system, servers, applications and preferences is commonly stored in plain text files. You want to view the hardware attached to the...
-
An actual corporation reported this information on their 2019 Annual Report ($ millions). Inventory cost method of LIFO is used. Date Inventory Balance Cost of Goods Sold (COGS) December 31, 2018...
-
The markets in general are paying a 2% real rate of return. Inflation is expected to be 3%. ABC stock commands a 6% risk premium. What is the expected rate of return on ABC stock? The required rate...
Study smarter with the SolutionInn App