Step-by-step explanation:
1/4 Marks
2 answers:
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From the figure, we can conclude that the little triangle is an isosceles triangle, the greatest angle is 90 because ∠A = 90 and they are supplementary, therefore, using the triangle sum theorem:
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>