Suppose that the monthly demand function of a particular commodity is given by P= 200 -0.4x and the supply function is P = 0.2x + 80 where x is the number of units demanded and supplied and P is in pesos. a.) Determine the equilibrium prics and quantity b.) At a unit prices of P 140, by how many unit does supply exceed demand. c.) At a unit prices of P 90, by how many unit does demand exceed supply.
Suppose that the monthly demand function of a particular commodity is given by P= 200 -0.4x and the supply function is P = 0.2x + 80 where x is the number of units demanded and supplied and P is in pesos. a.) Determine the equilibrium prics and quantity b.) At a unit prices of P 140, by how many unit does supply exceed demand. c.) At a unit prices of P 90, by how many unit does demand exceed supply.
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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