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:
590
Step-by-step explanation:
To the ten that is nearest to 593
Answer:
Step-by-step explanation:
x ≈ 4.66667
Answer:
47
Step-by-step explanation: