Answer:
The equilibrium quanity and equilibrium price is 3 Thousand units and 32 dollars respectively.
Step-by-step explanation:
Market equilibrium occurs in those markets in which the quantity demanded by consumers equals the quantity supplied by firms. In this state, the equilibrium point has its corresponding equilibrium quantity and price. That is, the equilibrium point is that point where, for a given price, the quantity supplied is equal to the quantity demanded.
The supply and demand curves represent the quantities that consumers are willing to buy and producers are willing to sell at that price respectively.
Being:
- demand equation: 6x+p-50=0 ⇒ 6x= 50 - p ⇒
- the supply equation 6x-p+14=0 ⇒ 6x= p - 14 ⇒
Since when the market reaches equilibrium, the quantity demanded equals the quantity supplied and x representing the quantity demanded in units of thousand, then:

Solving, you get:

50 - p= p -14
50 - p +14 = p
50 +14= p + p
64= 2*p

P=32 dollars
This value is the equilibrium price. Replacing this value in the demand and supply equation, the equilibrium quantity is obtained, which should be the same for both cases:
- demand equation:
⇒ x= 3 Thousand units
- the supply equation
⇒ x=3 Thousand units
So, <u><em>the equilibrium quanity and equilibrium price is 3 Thousand units and 32 dollars respectively.</em></u>
In its graphical representation, the equilibrium point can be seen as that point where the supply and demand curves intersect. You can see this in the attached image, where the blue line represents the supply and the red line the demand.
Answer:
- hi I have to find out of town ☹️ ieiejjsjsks of my friends and cricket is it ok for this position of a person place
Step-by-step explanation:
hi I was just thinking of you ❣️☑️☑️☑️☑️☑️♥️♥️☹️☹️ jsjsjdiie of my friends has to go back in the following weekend I am also going on Didi ❣️♥️♥️✔️Emma love myself
Answer:
wider and opens downward
Step-by-step explanation:
Answer:
16 in × 20 in
Step-by-step explanation:
- Finding the % of the picture that can fit in 16×20 frame
Area of picture= length by width
=4*6=24 in²
Area of frame=Length by width
=16*20=320 in²
% of the picture in the frame will be
(24/320) * 100% =7.5%
2. Finding the % of the picture that can fit in 18 × 24 frame
Area of picture=24 in²
Area of frame =Length by width
=18*24=432 in²
% of the picture in the frame will be;
(24/432)*100%=5.6%
The frame 16 by 20 in will keep 7.5% of the original picture
The frame 18 by 24 in will keep 5.6% of the original picture
Hence you should use the frame of 16 by 20 in because it will keep more of the original picture.