Core: 0 of 1 pt
1 answer:
Answer:
145.39
Step-by-step explanation:
The ratio of supply to demand will be 1 at the equilibrium price:
S(p)/D(p) = 1 = 140e^(0.005p)/(448e^(-0.003p))
448/140 = e^(0.005p -(-0.003p)) = e^(0.008p)
ln(448/140) = 0.008p . . . . . . . . . taking the natural log
p = ln(448/140)/0.008 ≈ 145.39
The equilibrium price is about $145.39.
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Step-by-step explanation:
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