Question: The demand for a certain product is given by + 5 = 400, and the supply for this product is given by 5 = 180,

The demand for a certain product is given by + 5 = 400, and the supply for this product is given by 5 = 180, where is the price and is the number of products.

Find the price at which the quantity demanded equals the quantity supplied.

Find the equilibrium quantity.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

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

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!

Hello, Can someone help me to finish these six Economic questions? Please write down the steps. Question 1. General Equilibrium and Business Cycle [20 Marks] A classical economy is described by the...

Microeconomics Hello, Can someone help me to finish these six Economic questions? Please write down the steps. If possible, please finish the solution in an hour and a half Question 1. General...

Microeconomics Hello, Can someone help me to finish these two Economic questions? Please write down the steps. If possible, please finish the solution in an hour and a half Question 1. General...

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....

MyLab Mati X Bb My Blackbo X Bb Courses - B X P Do Homew X * Course Her X My Home X My Home X CengageNC X @ The amount X | Mail - Ezeki X @ Payment m X bet Bet with be X INTERAC e- X X...

[Question 4] A. Find the integral of the following i) [Gx+2)"dx (4 marks) 4 2 iy [ (6Jx v (4 marks) = X 3x* (111) (4 marks) X A manufacturer of electronic sphygmomanometers determines that the demand...

D Question 2 1 pts Solve the problem. Given the following revenue and cost functions, find the break-even point to the nearest tenth. (Recall that profit equals revenue minus cost.) R(x) = 56x - 2x2;...

1) The demand curve for a certain product is given by p(q) =505 - q". The supply curve is given by p(q) = 1.2q. Find the producer surplus at equilibrium. The producer surplus at equilibrium is $ If...

please solve....Do it on MS Word 4. Jon is always willing to trade one can of Coke for one can of Sprite, or one can of Sprite for one can of Coke. a. What can you say about Jon's marginal rate of...

a) find price where quantity demanded equals quantity supplied b) find equilibrium price Score: 0 of 1 pt 9 of 10 (9 complete) HW Score: 65%, 6.5 of 10 pts Bus Econ 2.3.39 Question Help The demand...

calculate WACC for a Italian company operating in Healthcare Products sector assuming: a. application of H&BU concept and fair market value approach b. risk free rate on the level of return on 10...

Medina Co., Inc. was organized on July 1, 2014. Quarterly financial statements are prepared. The unadjusted and adjusted trial balances as of September 30 are shown below. Instructions (a) Journalize...

Graded Homework ( i ) December 3 1 , 2 0 2 3 , Berclair Incorporated had 3 0 0 million shares of common stock and 8 million shares of 9 8 , 5 1 0 0 par value mulative preferred stock issued and...

Need help with the t accounts for the fund balance preclosing and closing. No Transaction General Journal Debit Credit 1 0 1 Estimated Revenues Control 1 1 , 1 5 0 , 0 0 0 Appropriations Control 9 ,...