Answer:
Equilibrium price, p = 2.5
Equilibrium Quantity, Q = 22.5
Explanation:
The equation is:
Qd = 30 - 3p
Qs = 10 + 5p
At equilibrium, Quantity demanded equals quantity supplied
Equate Qd = Qs to find equilibrium price
30 - 3p = 10 + 5p
30 - 10 = 5p + 3p
20 = 8p
p = 20/8
P = 2.5
Substitute equilibrium price into Qd and Qs equation to find equilibrium Quantity
Qd = 30 - 3p
= 30 - 3(2.5)
= 30 - 7.5
= 22.5
Qs = 10 + 5p
= 10 + 5(2.5)
= 10 + 12.5
= 22.5
Therefore,
Equilibrium price, p = 2.5
Equilibrium Quantity, Q = 22.5
Answer:
decide which goals the organization will pursue and what strategies will achieve those goals.
Explanation:
To perform the planning task, managers identify and select appropriate organizational goals and courses of action; they develop strategies for how to achieve high performance. The three steps involved in the planning area
(1) deciding which goals the organization will pursue,
(2) deciding what strategies to adopt to attain those goals, and
(3) deciding how to allocate organizational resources to pursue the strategies that attain those goals. How well managers plan and develop strategies determines how effective and efficient the organization is—its performance level.
