Answer:
The equilibrium quantity is 26.4
Step-by-step explanation:
Given
Required
Determine the equilibrium quantity
First, we need to determine the equilibrium by equating Qd to Qs
i.e.
This gives:
Collect Like Terms
Solve for P
This is the equilibrium price.
Substitute 2.4 for P in any of the quantity functions to give the equilibrium quantity:
<em>Hence, the equilibrium quantity is 26.4</em>
Answer:
You have a triangle and a Square!
Step-by-step explanation:
Blue = Square
Red = triangle
Answer:
The mean and standard deviation of Y is $6.56 and $2.77 respectively.
Step-by-step explanation:
Consider the provided information.
Let Y represent their profit on a randomly selected pizza with this promotion.
The company is going to run a promotion where customers get $2 off any size pizza.
Therefore,
So the mean will be reduced by 2.
If we add or subtract any constant number from a given distribution, then the mean is changed by the same number(i.e constant number) but the standard deviation will remain the same.
Therefore
Hence, the mean and standard deviation of Y is $6.56 and $2.77 respectively.