Question: Find the equilibrium price and the equilibrium quantity for the following demand and supply functions. Qd = 40.06p and Qs = 0.6 + 0.11p.

Find the equilibrium price and the equilibrium quantity for the following demand and supply functions. Qd = 40.06p and Qs = 0.6 + 0.11p. [3 marks] b) Two computers A and B are to be marketed. A salesman who is assigned the job of finding customers for them has 60% and 40% chances respectively of succeeding in case of computer A and B. The computers can be sold independently. Given that he was able to sell at least one computer, what is the probability that computer A has been sold? [6 marks] c) The marginal cost function of manufacturing x units of a commodity is 6 + 10x6x. Find the total cost and average cost, given that the total cost of producing 1 unit is Khs. 15. [6 marks]
Step by Step Solution
3.50 Rating (150 Votes )
There are 3 Steps involved in it
The detailed answer for the above question is provided below a Equilibrium price 09 and equilibrium ... View full answer
Get step-by-step solutions from verified subject matter experts
