Question: Suppose the demand function for avocados is Q = 1 0 4 - 4 0 p + 2 0 p t + 0 . 0
Suppose the demand function for avocados is
where is the price of avocados, is the price of tomatoes, and is average income, and the supply function for avocados is
where is the price of fertilizer.
Suppose $$ and $ What is the equilibrium price and quantity of avocados?
The equilibrium price of avocados is
$
and the equilibrium quantity is
units. your responses rounded two decimal places.
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