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3 years ago

URGENT PLZ HELP!!!!!!!!!

2 answers:

8 0

In developed economies such as United States, the sector which dominates the economy is the consumer service sector such as legal firms and hospitals. The other sectors in this type of economy are increasingly dominated by automation and the workforce in this sector fall, while the consumer service sector continue to grow based on human service. The services rendered by this sector can not be easily automated.

son4ous [18]3 years ago

3 0

the first one is consumer services and the second is hospital

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If the supply function for a commodity is p = q2 + 6q + 16 and the demand function is p = −7q2 + 2q + 436, find the equilibrium

adell [148]

Answer:

equilibrium quantity = 7

equilibrium price = 107

Explanation:

Data provided in the question:

supply function, p = q² + 6q + 16 ........(1)

demand function is p = −7q² + 2q + 436

Now at equilibrium

Demand = Supply

Thus,

q² + 6q + 16 = −7q² + 2q + 436

q² + 6q + 16 + 7q² - 2q - 436 = 0

8q² + 4q - 420 = 0

2q² + q - 105 = 0

on solving for the roots of q

using the Quadratic Formula where

a = 2, b = 1, and c = -105

$[ x = \frac{ -b \pm \sqrt{b^2 - 4ac}}{ 2a }]$

a = 2, b = 1, and c = -105

Thus,

$[ q = \frac{ -1 \pm \sqrt{1^2 - 4(2)(-105)}}{ 2(2) }]$

$[ q = \frac{ -1 \pm \sqrt{1 - -840}}{ 4 }]$

$[ q = \frac{ -1 \pm \sqrt{841}}{ 4 }]$

The discriminant ( b² - 4ac > 0)

so, there are two real roots.

Therefore,

$q = [\frac{ -1 \pm 29}{ 4 }]$

$[ q = \frac{ 28 }{ 4 } \; \; \; q = -\frac{ 30 }{ 4 }]$

$[ q = 7 \; \; \; q = -\frac{ 15}{ 2 }]$

since,

Quantity cannot be negative

Thus,

q = 7

therefore, substituting q in (1)

p = 7² + 6(7) + 16

p = 49 + 42 + 16

p = 107

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Answer:

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Answer:

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